(TheNewswire)
March 22 , 2021 – TheNewswire - Vancouver, BritishColumbia - Happy CreekMinerals Ltd. (TSX V: HPY) ( Happy Creek” or the“Company”) is pleased to announce results of drilling andother exploration work on the Company’s 100% owned Highland Valleyproject in the Highland Valley district, B.C.
The Company completed 2,058.5 metres of HQ and NQ diameter drilling infour holes during November and December 2020. Two holes tested a smallpart of the new PIM target on the West Valley property. On the Rateriaproperty, one deeper hole was completed in each of the Zone 1 and Zone2 copper deposits. Highlight drill intervals are shown in Table 1,below. A property map is included as Figure 1 and a plan view ofdrilling for Zones 1 and 2 is included as Figure 2.
In late February of this year, a high-resolution airborne magneticsurvey was flown over the Rateria property. A total of 1,660kilometres were flown along lines 100 metres apart, with a nominalsensor height of 45 metres above the ground. Final processing of thenew data is underway, and the preliminary results strongly suggestthat the work will yield a much better understanding of the structuraland lithological controls of known mineralization and help define thegeophysical expression of associated alteration. For the first timethe Company has covered the 244-square-kilometre Rateria and WestValley properties with this high resolution and detailed magneticsurvey. This will improve understanding of these parameters in contextwith Zone 1 and 2 as well as the 25 other known copper prospects andareas in between and help identify new targets for follow-up fieldworkand drill testing.
David Blann, President and CEO of the Companycommented: “Although drill assays were not asstrong as expected, three of the four holes did intersectporphyry-style copper-molybdenum mineralization and at Zone 2,associated values of gold, silver and rhenium. At Zone 1 and 2 thedeep tests do not affect the near-surface resource potential for thesezones. The detailed geological data collected and recently completedgeophysical survey results will be leveraged with the Company’sapproximately $1.4m in cash to continue the search for another giantdeposit in the Highland Valley camp.”
Details of 2020 Drilling
A single deep hole was drilled as an undercut beneathprevious holes at each of the Zone 1 and 2 copper deposits,intersecting weaker mineralization than the holes nearby. Both Zone 1and 2 have been partially defined with 28,000 metres of drilling todate and contain multiple previously reported significant intercepts,defining mineralization for greater than one kilometre in length and350 metres in depth. The two, first-ever holes at PIM on the WestValley property confirm the surface interpretation for the presence ofa copper-molybdenum porphyry mineral system that is wide-open.
The next step is to review the results in context withother technical information including the new magnetic survey. TheCompany’s lead consultants, C.J. Greig & Associates are workingon a comprehensive, in-depth review of the 244-square-kilometreproject with the goal of providing recommendations for the 25 knowncopper showings and prospects, generating new targets beneath theextensive glacial till cover and testing extensions to the existingtwo deposits.
Table 1. 2020 Drill Results, Highland Valley Project.
Zone | Hole # | From (m) | To (m) | Interval (m) | Cu | Mo (ppm) | Ag | Au (ppm) | Re |
Rateria Zone 1 | R20-01 | 296.0 | 328.5 | 32.5 | 0.10 | 0.6 | |||
Rateria Zone 1 | R20-01 | 570.5 | 588.5 | 18.0 | 0.24 | 8 | 2.1 | ||
Rateria Zone 1 | Includes | 320.0 | 328.5 | 8.5 | 0.31 | 10 | 1.8 | ||
Rateria Zone 2 | R20-02 | 125.0 | 130.0 | 5.0 | 0.29 | 33 | 1.7 | 0.05 | 0.12 |
Rateria Zone 2 | R20-02 | 182.5 | 187.5 | 5.0 | 0.13 | 0.7 | 0.03 | ||
Rateria Zone 2 | R20-02 | 212.3 | 216.6 | 4.3 | 0.18 | 0.9 | 0.02 | ||
Rateria Zone 2 | R20-02 | 244.0 | 251.5 | 7.5 | 0.10 | 0.4 | 0.03 | ||
Rateria Zone 2 | R20-02 | 276.5 | 355.5 | 79.0 | 0.09 | 14 | 0.5 | 0.03 | |
Rateria Zone 2 | Includes | 311.5 | 320.3 | 8.8 | 0.41 | 9 | 2.1 | 0.13 | |
Rateria Zone 2 | R20-02 | 387.5 | 398.5 | 11.0 | 0.21 | 24 | 1.2 | 0.08 | 0.24 |
West Valley PIM | WV20-02 | 153.0 | 154.5 | 1.5 | 0.13 | 0.7 | |||
Vest Valley PIM | WV20-02 | 245.0 | 252.5 | 7.5 | 222 | 0.1 | 0.10 |
Discussion of Results
At Zone 2 on the Rateria property, drill hole R20-02 returned multiplemineralized intervals including 79.0 metres of 0.09% copper, including8.8 metres of 0.41% copper and 0.13 ppm gold within variably potassic-and sericite-altered Chataway phase granodiorite and felsic dikes.Hole R20-02 was designed to test 100 metres beneath R17-05, whichintersected 105.5 m of 0.37% copper and 0.14 ppm gold. While metalvalues continue to depth, the higher-grade mineralization above mayhave a plunge to the north of R20-02.
At Zone 1, drill hole R20-01 returned 32.5 m of 0.10% copper and 18.0metres of 0.24% copper. Hole R20-01 tested approximately 100 metresbeneath R11-01 which intersected 95.0 m grading 0.67% copper, 3.6 ppmsilver. While mineralization persists to depth, hole R20-01 cut almostcontinuous evidence of faulting and abundant felsic dikes that mayhave displaced or disrupted the higher-grade zone that occurs above itin this section of Zone 1.
At the previously undrilled PIM target on the West Valley property,two holes partially tested a 1.6 kilometre ring-shaped inducedpolarization (IP) chargeability anomaly with coincident anomalouscopper in soils and rock at surface. Hole WV20-01 was spotted on alogging road at the southern end of the PIM IP anomaly and was drilledwesterly to test a relatively high 8-10 millisecond chargeabilityportion of the target. This hole intersected short, localized zones ofsericite alteration with trace pyrite mineralization hosted by Skeenaand Bethsaida phases of the Guichon Creek batholith.
Hole WV20-2 is located 400 metres north of WV20-01 and on the inneredge of the ring-shaped IP anomaly. This drill hole was oriented tothe northwest and intersected wider zones of fracturing andchlorite-sericite alteration in Skeena and Bethsaida phases and cutgeochemically anomalous copper and molybdenum values such as 1.5metres of 0.126% copper and 7.5 metres of 222 ppm molybdenum. HoleWV20-02 suggests improving conditions for copper mineralizationnorthward in the PIM area. The majority of this large-scale target isuntested by drilling.
About the Highland Valley Project (WestValley-Rateria Property)
The 100-percent-owned Highland Valley project, comprising the WestValley and Rateria copper properties, covers 244 square kilometres andis a quality, underexplored exploration asset in the world-classHighland Valley district. The Company's property package adjoins theHighland Valley Copper (HVC) mine on its southern side. The mine,Canada’s largest copper producer, has been in production for nearly60 years. Happy Creek’s Zone 1 and Zone 2 discoveries, which liejust 6.5 kilometres southeast of HVC’s Highmont pits, show laterallycontinuous mineralization that has been partially outlined with 28,000metres of drilling. The Zone 1 and Zone 2 discoveries remain open inseveral directions. The Company also continues to generate new coppertargets within this large and highly prospective property.
More information on the Highland Valley project and the Company’sother projects can be found on the Company’s website www.happycreekminerals.com .
The Company operates with the principles and guidelines set out forCovid-19 that are established by provincial health and safetyauthorities to protect workers and the communities in which theCompany operates.
On behalf of the Board of Directors,
David Blann, P.Eng.
President and Chief Executive Officer
FORFURTHER INFORMATION, PLEASE CONTACT:
David Blann, President and ChiefExecutive Officer
Office: Phone: (604) 662-8310
Email: dblann@happycreekminerals.com
Walter Segsworth, Executive Chair
Email: wsegsworth@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.
Drill core samples were shipped to ALS Global Laboratories in NorthVancouver, B.C. for preparation and analyses using method ME-OG62 (4acid digest and ICP), ME-MS-61 (4 acid digest, ICP-MS finish), AuICP-21 (Au 30-gram fire assay, ICP-AES finish. The Company insertedblank, duplicate and three certified different standards into thesample chain for every tenth core sample submitted as part of itsQA/QC and no issues are noted.
David Blann, P.Eng. is a Qualified Person as defined by NationalInstrument 43-101 and is responsible for the preparation and approvalof the technical information disclosed in the news release. The readeris cautioned that results or information from an adjacent propertydoes not infer or indicate similar results or information will or doesoccur on the subject property. Historical information from the subjector 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 preparednor verified the historical information.
This press release contains "forward-looking information"within the meaning of applicable securities laws, including statementsthat address capital costs, recovery, grade, and timing of work orplans at the Company’s mineral projects. Forward-looking informationmay 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, eventor result such as "may", "should","could", "would", "might" or"will" be undertaken, occur or achieved. Statements alsoinclude those that address future mineral production, reservepotential, potential size or scale of a mineralized zone, potentialexpansion of mineralization, potential type(s) of mining, potentialgrades as well as to Happy Creek’s ability to fund ongoingexpenditure, 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, licensesand permits, labour stability, market conditions, availability ofequipment, accuracy of any mineral resources, anticipated costs andexpenditures. Assumptions may be based on factors and events that arenot within the control of Happy Creek and there is no assurance theywill prove to be correct. Such forward-looking information involvesknown and unknown risks, which may cause the actual results tomaterially differ, and/or any future results expressed or implied bysuch forward-looking information. Additional information on risks anduncertainties can be found within Financial Statements, Prospectus andother materials found on the Company’s SEDAR profile at www.sedar.com . Although Happy Creek has attemptedto identify important factors that could cause actual actions, eventsor results to differ materially from those described inforward-looking information, there can be no assurance that suchinformation will prove to be accurate as actual results and futureevents could differ materially from those anticipated in suchstatements. Happy Creek withholds any obligation to update or reviseany forward-looking information, whether as a result of newinformation, future events or otherwise, unless required by law.
Figure 1. Highland Valley Project Map.
Figure 2. Drill Plan for Zones 1 and 2, RateriaProperty, Highland Valley Project.
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