Happy Creek Receives 5-Year Drill Permit for Silverboss Project

2024-06-19 / @thenewswire

(TheNewswire)

June 19, 2024 – TheNewswire - Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy Creek” or the “Company”) is pleased to announce that it has received a five-year drill permit on the Company’s Silverboss Project located in the South Cariboo region of British-Columbia.

Highlights

The 100% owned Silverboss Project is a 110 square kilometre group of contiguous mineral claims surrounding the historic Boss Mountain molybdenum-silver mine that produced from 1963 to 1983.
Silverboss is highly prospective for copper, silver, gold, and molybdenum as well as nickel and PGM metals.

The five-year permit for Silverboss allows for up to 30 drill holes, trenching, access trails and related work.

The field program at Silverboss is set to commence in late June

Happy Creek, President and CEO Jason Bahnsen commented “Our exploration program for 2024 is commencing at Silverboss with fieldwork to commence in June. The 2024 exploration program at Silverboss follows up on the large IP anomaly identified in 2012 around the historic Silverboss shaft and adit area. The Company is also currently reviewing exploration plans for its other projects, including the Hel-Art-DL gold, Fox tungsten and Highland Valley copper projects.“

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Figure 1: Silverboss Project Location

Silverboss Project Targets

The 110-square-kilometre Silverboss property surrounds the past-producing, high-grade, open-pit and underground Boss Mountain molybdenum mine held by Glencore Canada.

Happy Creek’s exploration work on the adjacent Silverboss property has outlined bulk tonnage gold-silver, molybdenum and copper-gold-silver targets that have not been tested by drilling (See Figure 2).

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Figure 2: Silverboss Targets

Silverboss exploration targets include:

Silverboss Shaft - In 2012, Happy Creek completed an Induced Polarization (IP) survey covering the general Silverboss shaft and adit area. The Induced polarization (IP) survey indicates that at a depth of 200m below surface, an approximate 750m X 400m area with 9 to greater than 15ms chargeability occurs and connects the shaft, adit mineralized zones with the East Breccia and 10 Mile Creek area and is open (See Figure 3).

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Figure 3: Silverboss Shaft Zone IP Results

Sampling of shaft and adit dump material by Happy Creek has returned values ranging from 0.22 to 9.28 g/t gold, 28.0 to 514.8 g/t silver and up to 6.695 % copper. Beyond the best exposed mineralized zone, sheeted and stockwork quartz veins occur.

East Brecia / 10 Mile Creek - Approximately 350-600 m to the east and southeast of the Shaft zone, are the East Breccia and 10 Mile Creek showings which also contain copper, molybdenum and gold values.

Dogtooth - Approximately 900m southeast of the Shaft, the Dogtooth prospect is a shear-hosted quartz vein that assayed 10.06 g/t gold and 26 g/t silver over 1m width and is open, while widespread rock grab samples from the Dogtooth to the 10 Mile Creek area have returned 0.05 to 53.18 g/t gold and 0.8 to 365 g/t silver within an area of approximately 1 sq km. This large area contains soil anomalies from 12 up to 7,184 ppb gold.

Horse Trail- Is located approximately 1.25km south of the Shaft, and on the other side of recent volcanic lava flows that cover the underlying rocks hosting the mineralization. This target consists of copper, molybdenum, gold values in outcrop rock samples and soil. The 2012 IP survey over this area shows moderate to very strong IP anomalies occur beneath samples containing copper-gold values (See Figure 4).

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Figure 4 Silverboss Horse Trail Zone IP Results

Gus - The Gus prospect is located in the northern part of the Silverboss property and contains two, sub-parallel northwest trending copper in soil anomalies from 130 to 400 ppm Cu: the northern one covers an area of approximately 2km X 100-150m and the southern one is approximately 1.5km X 250m. Low values of nickel, silver and palladium occur in the northern anomaly which is underlain by gabbro and pyroxenite containing chalcopyrite. The northern Gus anomaly is easily road accessible and is thought to present a magmatic copper-nickel and Platinum Group Element (PGE) style of deposit target.

Drill Permit and Exploration Plan

The Company has received a five-year area-based drill permit for the Silverboss project (“MYAB Permit). The MYAB Permit allows for up to 30 drill pads, trenching, access trails and related work during the permit period.

The Company has designed and permitted a program to include trenching, chip and channel sampling followed by an initial test of identified targets with 1500 m drilling in 10 to 12 relatively short holes. Subject to funding, drilling would include the first ever holes at the Silverboss Shaft, Dogtooth and 10 Mile Creek zones.

Happy Creek is planning to begin the surface trenching and sampling work in June with drilling to follow when the Company has sufficient funding in place.

Qualified Person Statement

The technical and scientific contents of this release have been prepared, verified and approved by David Blann, P.Eng., a director of the Company, and a qualified person pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects.

References and Disclosure

1Note 1 - 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 is based on publicly available information and cannot not be relied upon as the Company’s QP, a term which was created and defined under NI43-101, has not prepared nor verified the historical information.

On behalf of the Board of Directors,

“Jason Bahnsen”

President and Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jason Bahnsen

Telephone: 604-590-1525

Email: info@happycreekminerals.com

About Happy Creek Minerals Ltd.

Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on the Company’s 100-percent-owned portfolio of diversified metals projects in British Columbia.

Projects include the Highland Valley Project, adjacent to Teck’s Highland Valley Copper Mine that has been in continuous production for over 60 years, the high-grade Fox Tungsten deposit, the Silverboss molybdenum-copper-gold-silver project adjacent to Glencore’s closed Boss Mountain molybdenum mine and the adjacent Hen-Art-DL gold and silver project.

Happy Creek is committed to responsible mineral resource development. The Company’s priority is to build and sustain mutually beneficial relationships with Indigenous Communities in the territories in which the Company explores.

Additional information relating to Happy Creek Minerals Ltd. may be obtained or viewed on the SEDAR+ website at www.sedar.com or on the Company’s website at www.happycreekminerals.com.

Forward Looking Statement

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.

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.