(TheNewswire)
October 11, 2023 – TheNewswire- Vancouver, British Columbia – Happy CreekMinerals Ltd. (TSXV:HPY) (“ Happy Creek ” or the “ Company ”) isproviding an update on its 2023 field work, permitting activities anddrill plans for the Highland Valley projects in southern BritishColumbia. Highlights include:
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At the Highland Valley project, a $3 million, two-phaseexploration program has been approved by the Board. It includes 10,000m of diamond drilling in 25 holes, plus additional field surveys.
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The initial phase of the program includes 4000 m in 10diamond drill holes and is planned for this fall, subject tofinancing. Contractors and multi-year permits are in place and 2023archaeological work has cleared several dozen sites for drilling.
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The Highland Valley program is designed to drill-testthree newly recognized, lightly explored targets with potential forlarge porphyry copper deposits, and to further expand, refine and rankthe pipeline of more than 25 other targets for future drilling.
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An updated Highland Valley presentation is nowavailable on the Company’s website.
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With a focus on copper, the project qualifies for theCanadian enhanced 30% flow-through Critical Mineral Exploration TaxCredit, in addition to other federal and provincial tax credits, asmay be available.
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Small field programs were completed on the Fox tungstenand Hen-Art-DL gold-silver-copper-zinc-lead projects in the Caribooregion. Sample results and multi-year drill permits are pending.
Happy Creek’s President and Chief Executive OfficerMr. Michael Cathro commented “The Company is thrilled to get backout and begin drill testing the exciting new copper targets worked upby the Company’s technical team at Highland Valley. In previousyears the Company’s exploration has been focused on definitiondrilling of the Zone 1 and 2 discoveries. Management has recentlycompleted a comprehensive targeting review and the Company is ready totest new, lightly explored targets, as well as extensions to knownmineralization near Zone 2. The Company believes that these targetshave the potential for discovery of large porphyry copper deposits inthis world class mining district.”
Highland Valley Drill Targets
The Company has defined three broad target areas fordrill testing in 2023-2024. These have been selected based on acomprehensive review of Happy Creek exploration databases inconjunction with data and models from recent exploration researchpartnerships involving Teck Resources Ltd, the University of BritishColumbia Mineral Deposit Research Unit (UBC-MDRU), Geoscience BC andthe BC and Canadian geological surveys, amongst others.
With proximity to large mines in thedistrict 3 , the selected high priority targets on Happy Creek’sproperty have received only cursory exploration and very limiteddrilling due to a fractured claim ownership situation, and glacialtill cover of variable thickness. The targets are situated on a flatto gently rolling terrain, with extensive recent clearcut logging andassociated excellent road access, allowing for low-cost, year-roundexploration.
The Company has prioritized the new target areas basedon a combination of positive factors, all of which can be associatedwith the largest deposits in the district. The following three drilltargets have been selected for drilling in Phase 1:
The NortheastTarget is located approximately 500 m northeastof the Zone 2 copper-gold-silver molybdenum-rhenium deposit. Arecently defined, 500-metre-wide copper-in-soil anomaly is underlainby a subcircular magnetic low, IP anomalies and peripheral sparseoutcrops of altered, fractured and veined rocks with copper minerals.A new occurrence containing 0.57% copper was found in 2022 at thenorthern end of the target area 2 . Only threeprevious drill holes have partially tested this target. Happy Creekhole R17-02 returned 5 m of 4.41% Cu and 0.21 g/t Au and hole R10-07returned 40 m grading 0.32% Cu at the end of hole.
The MysteryTarget extends in a northwesterly direction fortwo kilometres from the Zone 2 deposit to an area of historic trenchesand three historic drill holes. The target includes a discontinuoustrend of recently outlined copper and molybdenum soil geochemicalanomalies, underlain by prospective Skeena and Bethlehem phases of thebatholith, along with porphyry dikes, IP anomalies and relativemagnetic lows. In 1993, Hudson Bay Mining drilled three holes at thenorthwest end of this target. Hole 93CVS-11 was reported to haveencountered promising indications including a 230 m interval withintense sericite and potassium feldspar alteration andquartz-bornite-chalcocite stockwork veining. The core was onlypartially sampled returning the following intervals: 3 m of 1.36% Cu;12 m of 0.27% and 21 m of 0.07% Cu to within 1.5 m of end ofhole 1 . In 2023, and 650 m east of this drill hole, a small outcropwas located in a recent logging road borrow pit. It contains highlyfractured, altered rock with veining and copper mineralization. TheMystery target is thought to have large scale potential, particularlyto the east and southeast of the previous drilling.
The BillyTarget is located three kilometres northeast ofZone 2 and includes several areas of historic trenching, several northand northwest regional-scale magnetic linears, IP anomalies, a largesubcircular magnetic low feature extending to depth, and a newlydefined copper soil geochemical anomaly 3.5 kilometres long and 1kilometre wide, with a partially coincident molybdenum soilgeochemical anomaly. Only one drill hole, 93CVS-04, drilled by HudsonBay Mining in 1993, has tested this very large area 1 . It is reportedto have cut 400 metres of altered rocks and dikes and wide-spreadstringers and veinlets of quartz with bornite and chalcopyrite. Nodrilling is known for the northern 1.8 kilometres of the soil anomalywhere large north and northwest trending structures merge. A 2021sample of a float boulder found along the Billy Road returned 1.45%copper, 0.17 g/t gold and 4.09 g/t silver 2 . In 2023,additional areas of alteration hosting sheeted and stockwork veiningthat includes copper minerals were located, and assay results arepending.
Highland Valley Permitting andArchaeology
The Company holds two Multi-Year Area-Based (MYAB)permits, good through 2026, for over 100 drill pads plus trails,trenching and related work. In 2021 and 2023, the Company worked witharchaeological firms owned by local First Nations to review and clearsites for drilling, trenching and trail access. Preliminary resultsshow some small areas of archaeological potential; however, theCompany can easily avoid these areas to ensure any potential culturalheritage resources are protected. The Company also employs a rigorous“Chance-Find Procedure” to further prevent cultural andarchaeological impacts.
Fox Tungsten
At the advanced Fox project, a very large, multi-yearpermit amendment was applied for in early 2023 and remains underreview by the Province of British Columbia. The application includesup to 570 drill pads, trenching and access trails. The goal is toexpand the known 43-101 compliant tungsten resource along the trend ofthe BN, RC and BK zones through shallow surface drilling, and tocollect technical information for use in future resource modelling,engineering, feasibility and environmental studies. In 2023, theCompany has held important discussions on the project with affectedFirst Nations communities, and additional discussions areplanned.
Also in 2023, Happy Creek completed a small prospectingprogram on the poorly explored North zone, located northwest of themain BN-RC-BK trend of deposits, on the flank of Deception Mountain.Ultraviolet (UV) night lamping identified several new outcrops oftungsten-bearing skarn rock up to 5 m thick. The North zonemineralization has never been drilled and the mineralization isinterpreted to occur at a higher elevation and stratigraphic positionthan the BN-RC-BK trend deposits. The Companybelieves there is potential for multiple, stacked zones in this area.Sample results are pending.
Hen-Art-DL
This large property adjoins the west side of Fox and isprospective for gold, silver, copper, zinc and lead. In 2023,prospecting followed up on targets prospective for gold inquartz-carbonate-sulphide veins, in areas of new road access. Severalnew veins were sampled. Results and a multi-year drill permit arepending.
Silverboss
In mid 2023 the Company applied for a multi-year drillpermit and a decision is pending. Silverboss surrounds thepast-producing Boss Mountain molybdenum mine, held by GlencoreCanada 3 . Happy Creek has completed geochemistry, geophysics, geologyand prospecting surveys over the last few years, but there are onlyfive historic drill holes, one shaft, and several small pits. Theproject has a very wide variety of prospects and targets, which remainuntested by drilling, including for high-grade bulk-tonnage molybdenummineralization extending west and north from the Boss minepits 3 , high-grade gold-silver veins at the Silverboss shaft andDogtooth pit, and the unusual Gus copper-silver soil anomaly thatextends for 4.5 kilometres and remains open. Gus is underlain by amafic intrusive rocks and also has indications of nickel andpalladium.
Indigenous Communities
Happy Creek is committed to responsible mineralresource development. The Company’s priority is to build andsustain mutually beneficial relationships with Indigenous Communitiesin the territories in which the Company explores.
About Happy Creek MineralsLtd.
Happy Creek is focused on making new discoveries andbuilding resources in proximity to infrastructure on the Company’s100-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.
Additional information relating to Happy Creek MineralsLtd. may be obtained or viewed on the SEDAR+ website at www.sedar.com or on the Company’s website at www.happycreekminerals.com .
About Highland Valley
The 100-percent-owned Highland Valley project,comprising the contiguous West Valley and Rateria properties, covers240 square kilometres and is a quality, underexplored explorationcopper asset in the world-class Highland Valley district. TheCompany’s property package adjoins the Highland Valley Copper (HVC)mine. The mine, Canada’s largest copper producer, has been inproduction for 60 years 3 . Happy Creek’s Zone 1 and Zone 2discoveries, which lie just 6.5 kilometres southeast of HVC’sHighmont open pits 3 , show laterally continuous mineralizationthat has been outlined with 28,000 metres of drilling and remain openin several directions. The Company also continues to generate newcopper targets within this large and prospective property.
About Fox Tungsten
Fox is a district-scale, high-grade critical mineralproject that Happy Creek has advanced from initial discovery to theresource stage. The project is host to the BN, RC and BK tungstendeposits with current mineral resources (see Happy Creek's newsrelease dated Feb. 27, 2018, and the April 9, 2018, NationalInstrument 43-101 technical report filed under the company's profileon SEDAR for details). In addition, the project hosts theNightcrawler-Creek, Discovery and South Grid zones which havesignificant tungsten drill intercepts, and multiple other undrilledprospects.
About Tungsten
Tungsten is a rare metal with unusual physicalcharacteristics, including extreme hardness and a very high meltingpoint. These features make it an important metal for many industries.It is used mainly in cemented tungsten carbide and high-speed alloycutting tools and other automotive, energy, defense, manufacturing andhigh-tech applications.
Qualified Person Statement
The technical and scientific contents of this release have beenprepared, verified and approved by David Blann, P.Eng., 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 reports and results. However, the Qualified Personbelieves that drilling and analytical results were completed toindustry standard practices of the time. The information is intendedto provide an indication of geological attributes but may not beaccurate with respect to location, geology and mineralization.
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 ofDirectors ,
“Michael Cathro”
President and Chief Executive Officer
FORFURTHER INFORMATION, PLEASE CONTACT:
Office Phone: (250) 682-7168
Email: mcathro@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.
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