Happy Creek drills 22.0 metres of 0.76% W03 near surface at Fox tungsten property
09 September 2013 - 9:00PM
Access Wire
September 9, 2013 - Vancouver, British
Columbia. Happy Creek Minerals Ltd. (TSXV:
HPY) (the "Company") is pleased to announce preliminary results
from an additional two drill holes on its 100% owned, 165 square
kilometre Fox tungsten property. The property is well situated
approximately 25 km east of the past producing Boss mnt mine, and
75 km northeast of the town of 100 Mile House in the south-central
Cariboo region of British Columbia, Canada.
The Company has
explored the Fox property from an early stage returning positive
values of tungsten occurring in rock, stream sediment, soil and
drill core in a 10 km by 3 km area. Happy Creek first drilled the
Nightcrawler zone in 2007 with widely spaced holes and outlined
positive tungsten values in multiple horizons over an area 1.5 km
by 500 metres in dimension. Four kilometres to the north, four
outcropping mineralized zones were located and named from south to
north the 708, BN, RC (Ridley Creek) and BK prospects. These
prospects are hosted by a favorable target horizon (calc-silicate
or skarn cut by granite sills) spanning a distance of three
kilometres and a lateral extent thought to be greater than one
kilometre.
Results
At the RC prospect,
drilling is continuing to outline a tungsten deposit that occurs
from surface and dips shallowly westward. Drill holes F13-02 and
F13-03 are step-out holes located approximately 40.0 metres west of
F12-17 (20 metres of 0.63% tungsten trioxide (W03). The holes were
collared adjacent the site of F13-01 (2.7 metres of 2.0% tungsten
trioxide- see News release August 26, 2013), which was lost prior
to cutting the full width of the favorable horizon.
F13-02 (-50 degrees
to the west) returned 1.4 metres of 2.21% tungsten trioxide
starting at a down hole depth of 40.4 metres, or approximately 28
metres below surface. The hole then entered a granite sill and,
unfortunately similar to hole F13-01, was ended prior to reaching
the other side where additional mineralized zones were
expected.
F13-03 (vertical) cut
the full thickness of the favorable mineralized horizon, returning
22.0 metres of 0.76% tungsten trioxide starting at 20.0 metres and
is near true thickness. The favorable geology was intersected from
surface, with trace tungsten beginning from 6.0 metres. Above a
granite sill, an upper zone returned 3.27 metres of 2.12% tungsten
trioxide, 0.32% zinc, 2.0 g/t indium, 1.73 g/t silver and 0.11 g/t
gold that is similar to F13-01 which was lost at this depth.
Beneath the granite sill a second higher grade interval contains
5.0 metres of 1.86% tungsten trioxide, 0.27% zinc, 1.85 g/t silver,
0.09 g/t gold and 1.63 g/t indium.
David Blann,
President and CEO of Happy Creek states: "Drilling continues to
expand the mineralized zone and we see a trend with solid
continuity and top-tier tungsten grade and thickness that is close
to surface. The zone is open in extent and thought to have
excellent potential to continue. The RC prospect is just one of
four known outcropping zones over a distance of three kilometres
and we have really just begun to explore this exciting new, high
grade tungsten discovery."
A review of drill
results from the Fox property to date identified 25 intervals
averaging 3.2 metres and 2.36 % tungsten trioxide that comprise a
portion of the favourable horizon thickness.
Drill highlights from 2011 and 2012 at the RC prospect include 7.35
metres of 1.22% tungsten trioxide, 19.4 metres of 0.82% tungsten
trioxide, 11.0 metres of 0.80% tungsten trioxide, 20.0 metres of
0.63% tungsten trioxide and 24.7 metres of 0.68% tungsten trioxide.
One kilometer south of the RC prospect, the BN prospect returned
three intervals in hole F12-27: 4.1 metres of 1.78% tungsten
trioxide, 14.8 metres of 4.0% tungsten trioxide and 24.0 metres of
0.79% tungsten trioxide including 5.8 metres of 2.01% tungsten
trioxide. One kilometre north of the RC prospect, drilling at the
BK prospect returned 5.0 metres of 0.68% tungsten trioxide. (Refer
to Press Release dated November 19, 2012).
A grade of 2.4%
tungsten trioxide contains 24.0 kg W03 per tonne of rock, and
recent tungsten prices are around US$34.0/kg W03 in concentrates
and US$42.0/kg W03 as APT (ammonium paratungstate) (1).
Tungsten is regarded
as a strategic and critical metal for industrialized countries.
Over 50% is used in cemented tungsten carbide to make cutting tools
for the construction, metalworking, mining, oil and gas drilling
industries. The balance is used for heavy
alloy in applications requiring high temperature stability and
density in electronic components, super-alloys, wear-resistant
alloys and chemicals for various applications. Tungsten is being
used and evaluated as a more effective radiation shield than lead,
requiring 1/10th the
thickness of lead (2). Zinc and indium also occur with tungsten at
the Fox property. Indium is a rare metal used
in liquid crystal applications such as touch screens and prices
have risen to over US$550/kg ($5.50/gram).
The proximity to
infrastructure, near surface setting, large scale and presence of
high grade tungsten are thought to make the Fox property a unique
and attractive new discovery in the global tungsten
sector.
On behalf of the Board of
Directors,
"David E
Blann"
____________________
David E Blann, P.Eng.
President, CEO
FOR FURTHER INFORMATION PLEASE
CONTACT:
David Blann, President, CEO
Corporate Office:
Phone: 604.662.8310
Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Registered Investor
Relations:
James Berard Phone: 604-687-2768 Toll free:
1-877-459-5507
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. Happy Creek employs a strong Quality Assurance
and Control system for its drilling programs. Samples are cut from
NQ size drill core using a rock saw and a blank, standard or
duplicate are inserted into the sample string every tenth sample.
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 to give zinc, gold and silver values in
parts per million (ppm) or grams per tonne (g/t). Zinc values are
divided by 10,000 to give zinc %. Samples that return greater than
50 ppm W (tungsten) are then re-tested in triplicate using a
peroxide fusion digestion and ICP-finish and are averaged to
provide a preliminary assay result. Results of greater than 1.0% W
are checked by an XRF assay and that result is averaged with the
triplicate peroxide fusion to give a final result. Tungsten assay
results are around +/- 5-10% 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 with a multiplication factor of 1.261. W03 is the
compound used for pricing/ sales of tungsten concentrate or APT.
(1)Tungsten prices from Metals Pages September 2013. (2)
www.thirdwave.de/3w/tech/armor/tungstenrayshield.pdf?.
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
release.
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