Happy Creek samples 2.71% tungsten (WO3) and expands targets on the Fox property, B.C.15-01
January 26, 2015 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) announces final results from its 2014 exploration on its 100% owned Fox tungsten property located 25 km east of the past producing Boss Mountain mine in south central British Columbia.
On the 135 square kilometre Fox property, two main target areas occur. The Nightcrawler and Deception Mountain areas are located in the southern and northern portion of the property, respectively.
Key 2014 Results:
- Deception Mountain: The favorable tungsten host rock (calc silicate and skarn) was observed in outcrops over 600 metres along the northwest side of Deception Mountain. Surface grab samples from one area average 0.80% W03 over 30 metres before the zone dips beneath folded metasediment. An outcrop was located approximately 800 metres further west that returned 0.40% W03. These results indicate the favorable geology and mineralized zones (the BN, RC and BK zones) that occur on the east side of Deception Mountain continue through the mountain to the western side. The target area for this part of the property is approximately 3 km by 1.5 km in dimension.
- Nightcrawler zone: The favorable tungsten host rock was found 350 metres east of previous drilling. At one site, an average 1.97% W03, 0.14% zinc and 0.20 g/t gold occurs over 0.40 metre thickness that remains open in width and extent. Three hundred metres southeast, surface boulders returned from 0.08 to 0.15% W03. The Nightcrawler zone is 2.0 km by 500 metres in dimension and open in extent to the east and south.
The tungsten-bearing samples from the northwest side of Deception Mountain contain minor sulphides, and the calc silicate and skarn is mainly red-orange garnet and pale yellow-green pyroxene with fine to medium grained scheelite (tungsten mineral). Six grab samples from one area returned from 0.12 to 1.90% W03 and average 0.80% W03 over a distance of approximately 30 metres where the mineralized rock dips beneath folded metasediment. The samples occur in proximity to a felsic intrusive sill, 1.5 metres in thickness. Numerous other outcrops of calc silicate or skarn were observed over 600 metres along the northwestern slope of Deception Mountain and require further investigation using UV light and sampling. Approximately 1.5 km west of the BK zone, folded calc silicate and garnet rich skarn returned 0.40% W03. This showing is thought to be important as it further expands the lateral extent of the known tungsten-bearing zone on Deception Mountain. Approximately 2.5 kilometres west of the RC zone, marble and calc silicate was also mapped in outcrops. Geochemically trace zinc and tungsten occurs at this location, and it is interpreted to be the outer margin of the mineralized system. Results from 2014 suggest the favorable geology and tungsten-bearing zones continue from the BN, RC and BK prospects on the east, through the mountain to the west and northwestern side. The Deception Mountain target area is now estimated to be 3 km by 1.5 km in dimension.
At the eastern side of the Nightcrawler zone, a small poorly exposed layer of skarn was located and cleared by hand to over 1.3 metres in length. It’s full width and extent remains unknown. Samples from this location average 1.97% W03, 0.14% zinc and 0.20 g/t gold over an estimated thickness of 0.40 metres. Samples include values up to 2.71% W03 in a red-brown garnet and dark green, pyroxene and sulphide rich matrix. On strike approximately twenty metres east, another partially exposed subcrop was cleared and returned 1.62% W03 and 0.32 g/t gold in a grab sample. Approximately 300 metres further southeast, surface boulder samples containing trace sulphides returned from 0.08 to 0.15% W03. Previous drilling by the Company in 2007 was conducted further west of this area. Results suggest the Nightcrawler zone continues several hundred metres east of previous drilling. It remains a very strong target, currently two km by 500 metres in dimension that is open in extent to the east and south.
About the Fox tungsten property
The Fox property is well situated approximately 25 km east of the past producing Boss Mountain molybdenum mine, and 75 km northeast of the town of 100 Mile House in the south-central Cariboo region of British Columbia, Canada. The property has good road access, hydropower within 17 km and other resource based infrastructure nearby. Overall, the Fox tungsten-molybdenum mineral system is 10 by 3 km in dimension. On Deception Mountain, the BN, RC and BK zones span a distance of two kilometres, and drill results include 14.8 metres of 4.0% W03, 26.3 metres of 1.19% W03 and 5.0 metres of 0.68%, from each zone respectively. Metallurgical work has returned positive results using gravity and subsequent flotation processing to produce tungsten concentrates and a separate zinc, gold, silver and indium concentrate (refer to Press Release December 11, 2013).
More information on the Fox property can be obtained from the Company’s website at www.happycreekminerals.com /Projects/Cariboo Properties/Fox.
Over 50% of tungsten is used in cemented tungsten carbide to make cutting tools for the construction, metalworking, mining, oil and gas drilling industries. The balance is used in applications requiring high temperature stability and density in electronic components, super-alloys, wear-resistant alloys and chemicals. The estimated apparent value of tungsten consumed in the U.S. during 2013 is $800 million (1).Tungsten prices are based on W03 content, and are forecast in 2015 to be around US$30-$35/kg (2).
The Company’s plans for the Fox property in 2015 include exploration, drilling and bulk sampling in addition to various site development, engineering, metallurgical and environmental work.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Ron Birch: Phone: 250-545-0383
Toll Free: 1-800-910-7711
David Blann, P.Eng. is a Qualified Person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release. Rock samples are sealed and shipped to Agat Laboratories in Burnaby, B.C. Samples are prepared and analyzed first by aqua regia digest and ICP/ ICP-MS finish for tungsten, zinc, gold and silver values reported in parts per million (ppm) or grams per tonne (g/t). Zinc values are divided by 10,000 to give zinc %. Gold analyses are reported in ppm (g/t) by ICP that may be less accurate than by fire assay due to smaller sample size. Samples that return greater than 100 ppm W (tungsten) are re-tested in triplicate using a peroxide fusion digestion and ICP-finish and are averaged to provide a final assay result. Triplicate results averaging greater than 1.0% W are checked again by an XRF assay and that result is averaged with the triplicate peroxide fusion to give a final result. Individual tungsten assay results are +/- 5 to 10% of the final average and considered reasonable for a nugget effect inherent in coarse grained scheelite/tungsten mineralization. Tungsten (W) assays are converted to W03 (tungsten trioxide) with a multiplication factor of 1.261. W03 is the unit used for tungsten market prices. (1) USGS Mineral Statistics 2014. (2)Tungsten APT (ammonium paratungstate) in US $ from Metal Pages website January 12, 2015.
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