Happy Creek drills 8.2 metres of 0.86% tungsten trioxide (W03) near surface in southward step out hole at Fox property
25 September 2013 - 9:59PM
Access Wire
September 25, 2013 - Vancouver, British
Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the
"Company") is pleased to announce results from an additional four
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 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 Company has explored the
Fox property from an early stage returning positive values of
tungsten in rock, stream sediment, soil and drill core in a 10 km
by 3 km area. Positive to potentially economic values of tungsten
occur in two areas located on the south and north sides of an
granitic intrusive rock that is similar in age to the Boss Mountain
mine.
In the northern area on the
east side of Deception Mountain, four outcropping mineralized zones
occur over a three kilometre distance: from south to north, the
708, BN, RC (Ridley Creek), and BK prospects. These prospects span
a distance of three kilometres and have a lateral extent thought to
be greater than one kilometre. Since the first drilling discovery
in 2011, the Company has tested three of the prospects with
encouraging results. The main focus of the 2011-2013 drilling was
the RC zone.
Results
At the RC prospect, drilling
continues to define and expand a new tungsten deposit that occurs
at surface and dips shallowly westward. Drill holes F13-04
(vertical) and F13-05 (-50 degrees to the west) are located
approximately 40.0 metres southwest of F13-3 (22 metres of 0.76%
tungsten trioxide (W03). Refer to News Release dated September 9,
2013). F13-04 and 05 encountered the favorable geology from
surface, with values of 0.01 to 0.03% tungsten trioxide starting at
6.0 metres. F13-04 ended at 50.9 metres, with the final 0.5 metres
containing moderately strong pyroxene calc silicate thought to
indicate potential for additional tungsten mineralized zone to
occur at depth.
F13-06 (-55 degrees west) is
located approximately 40 metres south east of F13-04/05, and
starting from 14.0 metres returned 16.0 metres of 0.23% tungsten
trioxide including 6.2 metres of 0.55% tungsten trioxide and 0.25%
zinc.
F13-07 is located
approximately 60 metres east of F13-04/05, and 35 metres south of
F12-17 (20 metres of 0.63% tungsten trioxide). F13-07 (vertical)
returned 22.0 metres of 0.36% tungsten trioxide starting at 12.0
metres below surface, including 8.2 metres of 0.86% tungsten
trioxide.
David Blann, President and
CEO of Happy Creek states: "F13-06 and 07 have expanded the
near-surface zone southward with positive grades and it remains
open in extent. The results fit within our target range for
potentially economic near-surface mineralization, and compare
favorably to other known tungsten mines. The RC prospect is just
one of four prospects containing high tungsten grades at and
near-surface and we continue to see tremendous potential in this
new discovery over the three kilometre long target
area."
Due to the flat-lying
mineralized horizons, vertical drill hole intersections are very
near true thickness, while angle drill hole intercepts are
approximately 130-135% of true thickness. Drill highlights from
discovery in 2011 and follow up in 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 at surface, 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 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.
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 by the
British Geological Survey as a strategic and critical metal
essential 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 in applications
requiring high temperature stability and density in electronic
components, super-alloys, wear-resistant alloys and chemicals.
Values of zinc, gold, silver and indium also occur with tungsten at
the Fox property. Indium is a rare metal used in
liquid crystal applications such as touch screens.
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 exploration 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.
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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