Happy Creek Completes Drilling at Highland Valley
(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 17th, 2020 – Happy Creek Minerals Ltd. (TSXV:HPY) (OTC:HPYCF) Happy Creek” or the “Company”) is pleased to announce that the drill program on the Company’s Highland Valley Copper project in the Highland Valley district, B.C. is completed.
Drilling at the Highland Valley Copper project during 2020 consisted of 2,058.5 metres in four holes. Two holes were completed at the PIM target, and one hole each at Zone 1 (696 metres) and Zone 2 (557 metres). Drilling at Zone 1 and 2 consisted entirely of large diameter, HQ size drill core.
The drill core has been logged, split and sampled at a facility in Merritt, B.C. and the samples have been shipped to the laboratory for analyses. As analytical labs have been slow during 2020, results are expected in approximately 4-6 weeks.
Drill core from representative drill holes on the Company's Zone 1 and Zone 2 prospects, following sampling, have been carefully shipped to C.J. Greig and Associates Ltd.'s facilities in Penticton B.C. Geologists there will conduct intensive investigations of mineralization and alteration assemblages using a variety of methods and analyses with tools that are available at their facility.
David Blann, P.Eng., President and CEO stated “Management is excited that the team of geologists at C.J. Greig and Associates will be available to collect greater detail from the holes at Zones 1 and 2 and improve the understanding of the mineral systems therein. Although these zones are not far apart, they have some differences, including elevated gold geochemistry in Zone 2. This work will complement and build on the spectral work the Company completed earlier this year, with goal of developing more accurate models of the mineralization and alteration. The Company will then merge this with existing geophysical, geochemical, geological and drilling database to help guide further exploration of the zones, and of the PIM and other targets on the 244 square kilometre Highland Valley Copper project.”
About the Highland Valley Copper Project (West Valley Rateria Property)
The 100-per-cent-owned West Valley Rateria copper property covers 244 square kilometres and is a quality, underexplored exploration asset in the world-class Highland Valley district. The Company's property adjoins the Highland Valley Copper (HVC) mine on its southern side. The mine, Canada’s largest copper producer, has over 50 years of continuous production from numerous pits. Happy Creek’s recent Zone 1 and Zone 2 discoveries, which lie just 6.5 kilometres southeast of HVC’s Highmont pits, show laterally continuous mineralization that has been partially outlined with 28,000 metres of drilling. The Zone 1 and Zone 2 discoveries remain open in all directions. The Company also continues to generate new copper targets within this large and highly prospective property.
About the Fox tungsten Property
The Fox tungsten property represents a rare, high-grade strategic and critical metal discovery in an excellent location. The property is owned 100 per cent and is located 75 km northeast of the community of 100 Mile House in south-central B.C. The Company has advanced the Fox project from discovery to a resource estimate of 582,400 tonnes of 0.826% WO3 (Indicated) and 565,400 tonnes of 1.231% WO3 (Inferred). The deposit is open for expansion and is amongst the highest-grade deposits in the western world. The Fox property hosts an extremely large 12km long by 5km wide tungsten-bearing mineral system that remains largely underexplored—it is considered to hold the potential for near-term development.
About Tungsten
Tungsten is a rare, heavy and hard element, the element with the highest melting and boiling point of all. It is used mainly in cemented tungsten carbide and high-speed alloy cutting tools that are used in the manufacturing and construction industry, with numerous other applications including electrical, medical and defense. Tungsten has recently been declared a “critical” element by Canada, USA and the EU. According to the US Geological Survey, tungsten is one of 35 critical and strategic minerals that are “essential to the economic and national security of the United States.” Currently over 80% of world supply is from China, and only a small amount of primary supply comes from North America to meet the world’s demand. A recent supply/demand analysis by Roskill suggests five new tungsten mines with a capacity of more than 1000 tonnes (WO3) per year will be required by 2024, and that will likely rise to nine new mines by 2029*.
More information on the Highland Valley and Fox projects can be found on the Company’s website www.happycreekminerals.com.
The Company operates with the principles and guidelines set out for Covid-19 that are established by provincial health and safety authorities to protect workers and nearby communities.
On behalf of the Board of Directors,
“David E Blann”
David E. Blann, P.Eng.
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Blann, President and Chief Executive Officer
Office: Phone: (604) 662-8310
Email: dblann@happycreekminerals.com
Walter Segsworth, Executive Chair
Email: wsegsworth@happycreekminerals.com
Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
*roskill.com/news/May 28, 2020.
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.
David Blann, P.Eng., Director, 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. The reader is cautioned that results or information from an adjacent property does not infer or indicate similar results or information will or does occur on the subject property. Historical information from the subject or adjacent property cannot not be relied upon as the Company’s QP, a term which was created and defined under NI-43-101 has not prepared nor verified the historical information.
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", “foresee”, "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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