Tickers: XTSX:HPY
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November 4,2019 - TheNewswire - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV:HPY) (the "Company"), is pleased to provide an update on its 100% owned Fox tungsten project in south central B.C., Canada.
In 2019, two drill holes were completed at the Fox tungsten property totalling 372.5m in the Nightcrawler zone within logging clear-cuts and roads. Since 2017, the Company has done more detailed work in this area and recognized a potential resource opportunity based on several widely spaced holes containing encouraging grade-widths. The two holes returned 4m of 0.29% W03 in F19-01 and 6.3m of 0.43% W03 in F19-02.
Summary of 2019 Drill Results Nightcrawler Zone
Drill | From | To | Interval | W03 | |
Hole | m | m | m | % | |
F19-01 | 186.0 | 190.0 | 4.0 | 0.29 | |
F19-02 | 71.5 | 77.8 | 6.3 | 0.43 | |
Incl | 74.0 | 77.8 | 3.8 | 0.59 |
At the Nightcrawler zone, there are multiple tungsten-bearing calc silicate layers that extend for three km along strike and at least 500 metres down dip. Five drill holes have now cut a tungsten calc silicate/skarn layer in an area approximately 500 metres by 250 metres in dimension with an average thickness of approximately 5 metres and similar grade to F19-02. This zone dips around 30 degrees south-southeast, remains open and is thought to daylight at surface on the north side of Deception Creek.
David Blann, President of Happy Creek states "Drilling at the Nightcrawler zone was designed to test with two holes the continuity and grade of a tungsten-bearing calc-silicate layer. The two holes are over 400 metres apart and each contains a significant intercept. This mineralized calc silicate layer is thought to have sizeable resource potential with grades comparable to other underground tungsten development projects globally. We will conduct further drill-testing of the Nightcrawler in the spring when we resume work at higher elevations."
Further to the press release dated September 30th, 2019 poor weather and early snow conditions were not considered safe or cost-effective for starting a helicopter-supported drill program at higher elevations which was planned to test for extensions of the high-grade resources at the Ridley Creek and BN tungsten deposits.
About the Fox tungsten property
The Fox tungsten property is located 75 km northeast of 100 Mile House in south Central B.C. The Company has advanced the project from an early stage to discovery and as announced February 27, 2018, it currently hosts a resource of 582,400 tonnes of 0.826% WO3 (indicated) and 565,400 tonnes of 1.231% WO3 (Inferred), that is among the highest grade in the western world, and a portion is within an open pit shell. The Fox has a mineral system with dimensions of 12km by 5 km and numerous surface showings of tungsten and drill holes with intervals above cut-off grade that are open.
More detail on the Fox tungsten property can be found on the Company's website 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
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.
Samples are derived from 1/2 core cut by rock saw and shipped to, prepared and analyzed at SGS Laboratories in Burnaby, British Columbia. SGS Burnaby is ISO 9001:2008 certified. Drill core samples of all calc silicate are digested and analyzed by aqua regia and analyzed by multi-element ICP-MS and XRF assay for tungsten (W). W is multiplied by 1.261 to obtain WO3 (tungsten trioxide) the compound for which tungsten prices are quoted. The Company routinely inserts blanks, certified standards and duplicate samples within the submitted drill core batches submitted for assay as part of its quality control procedures.
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", "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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