(TheNewswire)
March 3, 2022 - TheNewswire- Vancouver, British Columbia - Happy CreekMinerals Ltd. (TSXV:HPY) (OTC: HPYCF) (“Happy Creek” or the “Company”) is pleased toreport the delineation of several new multi-kilometrecopper-molybdenum targets from the Company’s 2021 explorationactivities on the Highland Valley project.
In addition, the TSX-V has approved the Purchase andSale Agreement for the adjoining and highly prospective 438-hectareMystery property, as announced on February 24, 2022.
Peter Hughes, President and CEO said “The Company’s2021 field program was successful in defining brand-new targets atHighland Valley. With the property’s location in an active andmature mining district, our cost-effective and methodical program ofsoil sampling and “boot and hammer” prospecting has outlinedseveral compelling, large-scale copper-molybdenum-gold targets forfollow-up exploration and drilling. We also acquired a 100% interestin the highly prospective Mystery property, expanding our Zone 2 area.Management’s goal is to discover a world-class deposit in Canada’smost prolific copper mining district.”
During summer and fall 2021, Happy Creek collected over2100 soil, stream silt and prospecting rock samples.
The 2021 field work was primarily focused on thenorthern part of the Rateria property, near the Company’s Zone 2 porphyry copper-molybdenum-silver-gold deposit (Figures 1, 2 and 3).Drilling by the Company at Zone 2 since its discovery in 2008 hasreturned consistently strong copper grades, with locally enhancedgold, silver and molybdenum values, over an area of 900 m by 600 m.Highlight drill intercepts include 105.5 m grading 0.37% Cu, 0.14 g/tAu, and 0.005% Mo in hole R17-05, 126 m grading 0.46% Cu, 0.10 g/t Auand 0.008% Mo in hole R08-05, and 5.0m grading 4.41% Cu, 0.21 g/t Au,20.0 g/t Ag, 0.031% Mo and 6.86 g/t Re (rhenium) in R17-02.
Highlights
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Three new multi-kilometre copper-molybdenum targetswere identified through soil sampling and prospecting. These newtargets, named Billy, Corridor and Northwest , have received minimal pastexploration or drilling (Figures 1 to 4).
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Prospecting within the new soil anomalies and elsewhereon the very large property has discovered several new areas ofmineralization, including at Billy Road where a grab sample of floatreturned 1.45% Cu and 0.167g/t Au.
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The newly acquired 438-hectare Mystery property covers potential extensions of known mineralization (Figures 1 and 2)and a promising porphyry Cu-Mo target that was partly tested withthree relatively short drill holes by Hudson Bay Exploration andDevelopment (Hudbay) in 1993. Hole 93CVS-11 is reported to haveintersected a very broad (230 m wide), intense porphyry alterationzone with encouraging copper and molybdenum values to the last samplenear the end of the hole.
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The Company holds a multi-year permit for over 100drill sites and related work. Follow-up archaeology and environmentalstudies were completed on over 30 proposed drill sites by FirstNations consultants in 2021 and planning is underway for the 2022exploration program.
Rateria Soil GeochemicalSurvey
A total of 1907 soil samples were collected on theRateria soil grid and resulted in the discovery and delineation ofseveral multi-kilometre copper and molybdenum anomalies (Figure 2).Anomalous copper values range from 100 ppm (84 th percentile)2190 ppm Cu. Anomalous molybdenum values range from 3 ppm(90 th percentile) to 48 ppm Mo.
The new anomalies have had minimal past exploration butappear much larger and stronger than soil anomalies associated withknown mineralization. This is best demonstrated by the relativelysmall Cu and Mo anomalies over the Zone 1 Cu-Ag deposit and the Zone 2Cu-Mo-Ag-Au deposit. Both of these deposits have drill holes withmineralization intersected beneath glacial till at the bedrocksurface.
The impressive Billy Copper anomaly has been outlined over anarea of 3500 by 1000 m and remains partially open to the east. Maximumvalues occur at the north end (2190 ppm Cu) and are coincident with the strongest Mo values with up to 48 ppmin the 500 by 1000 m BillyMoly anomaly (Figure 2).
The NorthwestMoly anomaly is strong, with values ofmolybdenum-in-soil ranging from 3 to 23.5 ppm Mo, and large, withdimensions of 2500 m by 500 m. It partly overlies the Zone 2Cu-Mo-Ag-Au deposit and extends northwesterly onto the newly acquiredMystery property where it remains open (Figure 2). Scattered values ofhigh copper in soil also fall within the molybdenum trend. Thisanomaly has very good potential for discovery of new mineralizationalong the untested two-kilometres between the Zone 2 deposit andhistoric Mystery hole 93CVS-11, described below.
The CorridorCopper-Moly-Gold target is located 1000 m westof Zone 2 (Figure 2). The new soil results demonstrate a series ofdiscontinuous Cu soil anomalies that trend northerly for 2 km onto theMystery property, where it merges with the Northwest moly anomalydescribed above. Two 2021 prospecting rock samples returned strong Cu(to 9370 ppm) with anomalous Mo and Au values, as described below.Previous drilling has not fully tested this target.
Several other strong but smaller areas of Cu and Mo insoil are also present and have received scant prospecting or drilling.
Rock Sampling and Targeting
Nineteen prospecting rock samples were collected acrossthe property in 2021, mainly from bedrock exposures and road cuts(Table 1, Figures 3 and 4). Twelve of the 17 prospecting samplesreturned copper values ranging from 1000 to 14,500 ppm (1.45%) Cu.Three rock samples in the Rateria area were also anomalous for Au (120to 142 ppb) and one carried 256 ppm Mo. 2
A float grab sample (#4899) from the new Billy Road prospect within the Billy soil anomaly returned 14,500 ppm Cu (1.45%), 167 ppb Au, and 4.1ppm Ag (Figure 3). The sample is located 200 mnorth of several historic bulldozer trenches, where 2020 samples byHappy Creek returned 6090 ppmCu from a spoil pile, and 4090 ppm Cu from a 25cm shear zone. 2 There has only been two historic drill holesin the Billy target area and additional IP surveys and prospecting arerequired prior to final selection of drill sites.
In the Corridor target, about 1000 m west of Zone 2 deposit, twoprospecting samples and a series of discontinuous Cu-in-soil anomaliessuggest the potential for a new, parallel mineralized trend. A 15 cmchip of a boulder contains 9370 ppm Cu, 256 ppm Mo, 120 ppb Au and 7 ppm Ag , and a grab from bedrock contains 5310 ppm Cu and 142 ppb Au (Figure 3). 2 Previous drilling has not fully tested thistarget, with R08-06, intersecting 334.66 m grading 0.07% Cu (Figures 2 and 3), that confirms the potential for verybroad porphyry mineralization here.
In the WestValley portion of the property, seven chip andtwo grab samples 2 were collected from the Abbott South area,which straddles the regionally important Lornex fault (Figures 1 and4, Table 1). Results averaged 3552 ppm Cu within a range of 85 to 11,150 ppm (1.15%) Cu . Reconnaissance of this area was performed after the recentforest fires and was aided by new access roads and bedrock exposures.There is no record of previous drilling in this area.
Previous induced polarization (IP) geophysical surveysby Happy Creek and others had identified promising chargeability andresistivity features within these target areas. Limited additionalsurveying is warranted to expand the IP coverage prior to drilling.
Mystery Property
Happy Creek has now received TSX-V approval for thepurchase of a 100 per cent interest in the adjoining Mystery Property,as announced on February 24, 2022 (Figures 1, 2, and 3). The Mysteryproperty has excellent exploration potential based on extensions ofsoil, geological and geophysical features from the Zone 2 deposit areaand historic hole 93CVS-11. Together these attributes define adrill-ready porphyry Cu-Mo target area.
The Mystery area has been explored by various partiesover the years most notably Hudson Bay Exploration and DevelopmentCompany Limited in the early 1990s. Hudbay completed three drill holesin 1993 at the south end of Mystery Lake (Figures 2 and 3) and notedthe presence of copper mineralization associated with a robusthydrothermal alteration system. Results are summarized in a December1993 Hudson Bay report as follows:
“An intrusive complex wasintersected in hole 93CVS-11 with at least three varieties of porphyrydisplaying varying degrees of alteration. In the best hole (93CVS-11)intense pervasive hydrothermal alteration displays a complex sequenceof events. Mineralization is dominantly chalcocite-bornite-quartz veining, withthe best intercepts containing 1.36% copper (and11.8 g/t Ag) across 3 metres,in local high-grade mineralization. Lower copper levels are moretypical of the mineralization and include a 12 metre interval of 2664ppm (0.27%) Cu (with elevatedmolybdenum and silver). Hole93CVS-11 intersected about 230 metres of moderate to intense pervasivesericite altered rock, punctuated by up to 40 metre wide K-sparaltered intervals. Sericite alteration is complicated by the presenceof a later, strong sericite overprint (sericite II). (S.G. Enns, BC Property File #PF804381). 1
Review of Hudson Bay drill logs indicate that thealteration and mineralization is present almost to the very the end ofthe hole at 300.5 m. 1 Happy Creek intends to immediately preparethis target for drilling with geology, soils and limited IPwork.
Work Plans, Permitting, and COVIDSafety
In spring and early summer of 2022, Happy Creek willoptimize the opportunity for successful drill testing at the varioustargets outlined above through additional geological studies,prospecting, soils and IP geophysical surveys.
Happy Creek holds two exploration permits from theGovernment of British Columbia for the Highland Valley project, whichare good through 2026 and allow for over 100 drill pads, plustrenches, access trails and induced polarization surveys.Archaeological and environmental studies have been completed on 36potential drill or trench sites by consultants from thenearby Nlaka’pamux communities. These studies will be expanded tocover newly defined target areas.
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.
Indigenous Communities
Happy Creek Minerals is committed to responsiblemineral resource development. Our priority is to build and sustainmutually beneficial relationships with Indigenous Communities in theterritories in which we explore.
About Happy Creek MineralsLtd.
Happy Creek is focused on making new discoveries andbuilding resources in proximity to infrastructure on its100-percent-owned portfolio of diversified metals projects in BritishColumbia. The Company’s Management, Board of Directors and TechnicalAdvisors have solid expertise and depth in the mineral resource sectorand capital markets.
About Highland Valley
The 100-percent-owned Highland Valley project,comprising the contiguous West Valley, Rateria and Mystery properties,covers 240 square kilometres and is a quality, underexploredexploration asset in the world-class Highland Valley district. TheCompany’s property package adjoins the Highland Valley Copper (HVC)mine on its southern side 3 . The mine, Canada’s largest copperproducer, has been in production for nearly 60 years. Happy Creek’sZone 1 and Zone 2 discoveries, which lie just 6.5 kilometres southeastof HVC’s Highmont open pits 3 , show laterally continuous mineralizationthat has been outlined with 28,000 metres of drilling and remains openin several directions. The Company also continues to generate newcopper targets within this large and prospective property.
More information on the Company’s projects can be found on theCompany’s website at www.happycreekminerals.com .
Quality Assurance / Quality ControlProcedures
Samples were shipped to, prepared, and analyzed at ALSCanada Ltd (ALS) in North Vancouver, British Columbia. ALS meets allrequirements of International Standards ISO/IEC 17025:2005 and ISO9001:2015 for analytical procedures. Samples are analyzed for gold byfire assay method AU-ICP21, and for trace elements by ultra-trace aquaregia method ME-ICP41. In addition to ALS internal quality assurance/ quality control, Happy Creek implements an internal QA/QC program that includes the insertion of sample blanks,duplicates, and certified reference standards in the string of drillcore samples.
Qualified Person Statement
The technical and scientific contents of this release have beenprepared, verified and approved by Mike Cathro, P.Geo, a director ofthe Company, and a qualified person pursuant to National Instrument43-101 – Standards of Disclosure for Mineral Projects.
References and Disclosure
1 TheQualified Person has not completed sufficient work to verify thehistoric information on the Property, particularly in regard tohistorical drill results. However, the Qualified Person believes thatdrilling and analytical results were completed to industry standardpractices. The information provides an indication of the explorationpotential of the Property but may not be representative of expectedresults.
2 Grab andchip samples are selective by nature and the values reported may notbe representative of the entire mineralized zone.
3 Mineralization hosted on adjacent and/or nearby properties is notnecessarily indicative of mineralization hosted on the Company’sproperty.
On behalf of the Board of Directors,
“Peter Hughes”
President and Chief Executive Officer
FORFURTHER INFORMATION, PLEASE CONTACT:
Peter Hughes, President and ChiefExecutive Officer
Office Phone: (604) 662-8310
Email: phughes@happycreekminerals.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
The reader is cautioned that results or informationfrom an adjacent property does not infer or indicate similar resultsor information will or does occur on the subject property. Historicalinformation from the subject or adjacent property cannot not be reliedupon as the Company’s QP, a term which was created and defined underNI-43-101, has not prepared nor verified the historical information.
This press release contains "forward-lookinginformation" within the meaning of applicable securities laws,including statements that address capital costs, recovery, grade, andtiming of work or plans at the Company’s mineral projects.Forward-looking information may be, but not always, identified by theuse 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 goalor action, event or result such as "may","should", "could", "would","might" or "will" be undertaken, occur orachieved. Statements also include those that address future mineralproduction, reserve potential, potential size or scale of amineralized zone, potential expansion of mineralization, potentialtype(s) of mining, potential grades as well as to Happy Creek’sability to fund ongoing expenditure, or assumptions about future metalor mineral prices, currency exchange rates, metallurgical recoveriesand grades, favourable operating conditions, access, politicalstability, obtaining or renewal of existing or required mineraltitles, licenses and permits, labour stability, market conditions,availability of equipment, accuracy of any mineral resources,anticipated costs and expenditures. Assumptions may be based onfactors and events that are not within the control of Happy Creek andthere is no assurance they will prove to be correct. Suchforward-looking information involves known and unknown risks, whichmay cause the actual results to materially differ, and/or any futureresults expressed or implied by such forward-looking information.Additional information on risks and uncertainties can be found withinFinancial Statements, Prospectus and other materials found on theCompany’s SEDAR profile at www.sedar.com . Although Happy Creek has attempted to identify importantfactors that could cause actual actions, events or results to differmaterially from those described in forward-looking information, therecan be no assurance that such information will prove to be accurate asactual results and future events could differ materially from thoseanticipated in such statements. Happy Creek withholds any obligationto update or revise any forward-looking information, whether as aresult of new information, future events or otherwise, unless requiredby law.
Figure 1. Highland Valley property map, showing keymines, deposits, prospects, the new Mystery property acquisition, andthe Billy copper anomaly.
Figure 2. Soil geochemistry maps for copper andmolybdenum of northern Rateria property. Zone 1 Cu-Ag, Zone 2 Cu-Au-Moand Yubet Cu deposits are also shown by heavy dashed line.
Figure 3. Selected rock samples in the northern Rateriaproperty, in relation to known deposits and targets.
Figure 4. Selected rock samples in the southern WestValley property, in relation to known prospects.
Table 1. 2021 Prospecting RockSamples, Highland Valley Property.
Target | Sample # | Easting | Northing | Cu (ppm) | Mo (ppm) | Ag (ppm) | Au (ppb) | Sample type (width) |
Rateria West of Zone 2 | 4896 | 646374 | 5583415 | 9370 | 256 | 7.0 | 120 | Boulder - chip (15 cm) |
Rateria SAS | 4897 | 646636 | 5583070 | 5310 | 2 | 3.6 | 142 | Outcrop - grab |
Rateria Zone 2 NE | 4898 | 647673 | 5585664 | 5770 | 1 | 3.6 | 22 | Outcrop - chip (15 cm) |
Rateria Billy Lake road | 4899 | 648634 | 5585177 | 14,500 | 2 | 4.1 | 167 | Outcrop- grab |
Rateria Leroy Lake south | 4900 | 650845 | 5586813 | 3900 | 2 | 1.1 | 11 | Outcrop - chip (20 cm) |
Rateria Antler Lake | 4465 | 650903 | 5583458 | 836 | 1 | 0.4 | 2 | Outcrop- grab |
Rateria Antler Lake | 4466 | 650635 | 5583446 | 2520 | 1 | 1.1 | 19 | Outcrop - chip (25 cm) |
Rateria Antler Lake | 4467 | 651238 | 5583279 | 1,030 | 1 | 0.4 | 1 | Outcrop- grab |
WV Abbott South | 307501 | 641385 | 5570049 | 186 | 2 | 0.5 | 1 | Outcrop - chip (3.5 m) |
WV Abbott South | 307502 | 641389 | 5570049 | 670 | 1 | 1.1 | 5 | Outcrop - chip (100 cm) |
WV Pole 346 | 307503 | 638636 | 5571244 | 5460 | 1 | 0.4 | 16 | Outcrop - chip (50 cm) |
WV Pole 383 | 307504 | 642277 | 5573174 | 4170 | 1 | 2.7 | <1 | Outcrop - chip (100 cm) |
WV Pole 383 | 307505 | 642277 | 5573174 | 305 | 1 | 0.2 | <1 | Outcrop - chip (7.0 m) |
WV Pole 383 | 307506 | 642277 | 5573174 | 11150 | 1 | 8.1 | 5 | Outcrop - chip (50 cm) |
WV Abbott NW trenches | 307507 | 638115 | 5572164 | 8710 | 6 | 1.8 | 9 | Outcrop - chip (50 cm) |
WV Abbott NW trenches | 307508 | 638121 | 5572176 | 1405 | 2 | 0.6 | <1 | Outcrop - chip (6.0 m) |
WV Abbott NW trenches | 307509 | 638404 | 5572175 | 85 | 2 | 0.1 | <1 | Outcrop - chip (30 m) |
WV Abbott NW trenches | 307510 | 638471 | 5572114 | 652 | 1 | 0.3 | <1 | Outcrop- grab |
WV Abbott NW trenches | 307511 | 638590 | 5572190 | 29 | 3 | 0.1 | <1 | Outcrop- grab |
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