Happy Creek Completes Phase 1 Exploration on the Rateria-West Valley Copper Property and engages Renmark Financial
(TheNewswire)
June 8, 2020 – TheNewswire - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV:HPY) (the “Company”), is pleased to announce that the first phase of field exploration is completed on its 100% owned, 244 square km Rateria and West Valley property. The property surrounds the southeast and southwest side of the Highland Valley Copper mine property, Canada’s largest copper producer, in south central B.C.
Further to the press release dated May 21, 2020, Happy Creek has now completed field geological and geochemical studies at Zone 1, Zone 2 and their surrounding areas, as well as at several surface prospects on the Rateria-West Valley property. This work utilized a portable X-ray fluorescence spectrometer (XRF) and a TerraSpec Halo mineral analyzer designed to provide vectors to porphyry copper centres.
In addition, stream sediment sampling and prospecting was completed on the western portion of the West Valley property in areas of limited historical activity. During this work, a copper showing was located where the only information known is a claim post dating from 1961. This prospect is located approximately 2 km west of the Fir copper prospect. Rock samples were collected and are being submitted for laboratory analyses. At the PIM prospect, soil samples were collected along the 2019 induced polarization (IP) grid lines. A reconnaissance geology traverse above the positive geophysical anomaly located three more copper showings. Bedrock samples with copper mineralization now occur for over one km at surface suggesting the IP anomaly that extends to over 400 metres in depth, is sourced at least in part by copper mineralization.
Results from the Phase 1 program will be announced when received.
David Blann, president, CEO of Happy Creek Minerals states: “We anticipate receipt of results from our Phase 1 work that will guide the priority ranking for drill testing in Phase 2. The Highland Valley copper district has seen four large to giant-sized porphyry deposits achieve continuous production for over fifty years. Our property lies within a portion of this district having similar geology, and we have found two new copper zones and clear opportunity to find more.”
The Company also wishes to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
“We are pleased to announce that we have selected Renmark to reinforce Happy Creek Minerals' profile in the financial community and enhance the visibility of our company. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public,” noted David Blann, President & Chief Executive Officer.
In consideration of the services to be provided, the monthly fees incurred by Happy Creek Minerals Ltd. will be a cash consideration of up to $8,000 CAD, starting June 1st, 2020 for a period of six months ending on November 30th, 2020 and monthly thereafter.
Renmark Financial Communications does not have any interest, directly or indirectly, Happy Creek Minerals Ltd. or its securities, or any right or intent to acquire such an interest.
About the Rateria and West Valley property
The Rateria and West Valley mineral properties is predominantly underlain by the Guichon batholith which hosts four porphyry copper deposits with commercial production continuing for over 50 years.
Happy Creek has discovered and partially outlined with 28,000 metres of drilling, Zone 1 and 2, which contain drill grades consistent with currently mined deposits in the district. These are thought to have near-term potential for resource definition and are located approximately 6.5 km southeast of the Highmont open pits.
Zone 1 and Zone 2 contain drill intercepts including 95 metres of 0.67% copper and 152.5 metres of 0.35% copper, respectively. At Zone 1, positive copper values occur in widely-spaced drill holes in an area of approximately 1 sq km. Zone 2 also contains notable rhenium in molybdenite and positive gold including 46 metres of 0.64% copper, 0.30 g/t gold, 1.16 g/t rhenium. Rhenium is a rare metal used in high strength, high temperature steel. In 2017, a 150 metre step out hole to the east of zone 2 returned 5.0 metres of 4.41% copper, 0.03% molybdenum and 6.86 g/t rhenium that is open.
In addition, the Company has recently identified several other areas of the property with potential for new copper discoveries that are untested by drilling. The Company considers the Rateria-West Valley property to be a quality, under-explored copper exploration asset within a world class, highly productive copper district.
More information on the Rateria and West Valley copper properties can be found at www.happycreekminerals.com .
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,
Office: Phone: 604.662.8310
Email: dblann@happycreekminerals.com
Website: www.happycreekminerals.com
Renmark Financial Communications Inc.
Melanie Barbeau: mbarbeau@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
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. Results or information from an adjoining property does not infer that similar results or information will or does occur on the subject property.
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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