Happy Creek Trenches 5.0 metres of 1.25% WO3 at Fox tungsten
September 26, 2016 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is providing an update on work being conducted on its 100% owned Fox tungsten property, located by road northeast of 100 Mile House, in south central British Columbia, Canada.
A program of geology, trenching and core drilling is underway at the Ridley Creek, BK and BN zones as well as the new untested South Grid to upgrade and expand the project’s existing resource. The first results received are from rock saw channel and chip samples from three trenches at the main Ridley Creek zone. Results include 3.65 metres of 1.21% WO3, 3.5 metres of 1.53% WO3 and 5.0 metres of 1.25% WO3, with associated values of zinc, indium, gold, silver and bismuth. The mineralized widths in two of the trenches remain open in extent. Results are summarized in the Table below and represent near true width:
|Trench||Total Length (m)||From (m)||To (m)||Interval (m)||WO3 %|
A climbing rope was utilized to obtain samples starting from the top of the 7-14 metre face. The three trenches cover over 30 metres strike length of the nearly horizontal mineralized zone and it remains open along strike and thickness at the base of the cliff where talus and soil have piled up. These trench results will be utilized to connect with drill holes to model the geometry and grade of the mineralized blocks closest to surface within an updated resource.
Geological work along strike to the north of the Ridley Creek zone is defining the contacts of the favorable geology and mineralized zone that connects with the BK zone, a distance of one kilometre. About 200 metres north of the Ridley Creek zone, a 20 metres thick calc silicate unit is exposed in a cliff and a 1.5 metre chip sample returned 3.44% WO3. The sample is open in width and this area remains untested by drilling. At the BK zone, chip samples of calc silicate skarn along strike from previous trenches returned 2.0 metres of 1.64% WO3, 2.0 metres of 0.66% WO3, and 0.6 metres of 0.38% WO3; these samples remain open in width and were subsequently extended further by hand trenching with results pending.
David Blann, P.Eng., President, C.E.O. of Happy Creek comments: “The Ridley Creek zone is currently our best-known deposit having the most work completed. With an initial NI 43-101 open pit resource at an indicated grade of 0.468% WO3, the additional work will improve knowledge of the geometry, extent and confidence level in the deposit. Our second pass of drilling and trenching at the BK appears visually positive and we may be able to include this zone in the resource update. In addition, it is not surprising to find more tungsten showings, and 1.5 metres of 3.44% WO3 between the Ridley Creek and BK is likely the beginning of another quality prospect. The project continues to deliver positive results and we look forward to increasing value for shareholders.”
Drilling completed to date includes 10 holes at the Ridley Creek zone, 6 holes and three trenches at the BK zone. The drill is now at the BN zone where in 2012, Happy Creek drilled 14.8 metres of 4.0% WO3. Additional results are pending.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
Ron Birch: Phone: 250-545-0383
Toll Free: 1-800-910-7711
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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 shipped to, prepared and analyzed at SGS Laboratories in Burnaby, British Columbia. Samples are digested and analyzed by aqua regia and ICP-MS as well as peroxide fusion and ICP-AES for tungsten (W), respectively. Over limit samples greater than 4% W are analyzed for tungsten by XRF. W is multiplied by 1.261 to obtain WO3 (tungsten trioxide) the compound for which tungsten prices are quoted.
This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral projects. Forward-looking information may be, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “planned”, “continue”, “expect”, “thought to”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “opportunity”, “further” and others, or which describes a goal or action, event or result such as “may”, “should”, “could”, “would”, “might” or “will” be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Happy creek’s ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Happy creek and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at www.sedar.com. Although Happy creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Happy creek withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.
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