(TheNewswire)
November 10, 2023 – TheNewswire- Vancouver, British Columbia – Happy CreekMinerals Ltd. (TSXV:HPY) (“Happy Creek” or the “Company”) ispleased to provide an update on important progress on permitting forthe Company’s Fox Tungsten project near the community of 100 MileHouse in the Cariboo region of British Columbia, Canada.
Michael Cathro, President and CEO, commented: “Thenew Fox exploration permit amendment is an important step in valuecreation and advancement of the project towards eventual mineproduction. Previous drilling at Fox has outlined a very high-gradetungsten resource* at shallow depths in the BN-RC-BK trend, withnumerous opportunities for expansion between, adjacent to and at depthbelow the known deposits. With the recent increase in the tungstenprice and recognition that western democracies must develop a stablesupply of critical minerals, now is a perfect time to aggressivelyadvance this high-grade project”.
The Company has received an amendment to its Multi-YearArea-Based (“MYAB”) permit, that will allow for extensivedrilling, trenching and trail construction through late 2027. Theoriginal Permit was issued in 2006 and has been amended several timessince.
The 2023 amendment, issued by the BC Ministry ofEnergy, Mines and Low Carbon Innovation (“EMLI”), allows for avery significant expansion in new exploration work including 505surface drilling pads, 165 helicopter-portable drill pads, 875 m oftrenching in 35 trenches, 5.1 km of new exploration access trail toconnect the drilling area with recently built logging roads, 10 km oftemporary drill/trench access trail, and a new temporary camplocation. Each drill pad can allow for drilling of several holes,depending on site-specific targets and geological considerations. Mostimportantly, this permit will allow the Company to conduct much ourfuture work using surface access, which is a much safer and morecost-effective approach versus using helicopter. Drilling could beginby late June 2024.
A portion of the proposed work is within a wildlifehabitat area for caribou and will require an exemption from theMinistry of Water, Land, and Resource Stewardship (“WLRS”). TheCompany has received three previous exemptions allowing forhelicopter-supported drilling in this habitat area. Although no signsof caribou have ever been encountered on the project, the Company isaware there is potential habitat, and is committed to workingcollaboratively with Indigenous Nations, BC Government, and other landusers to protect caribou and their habitat. As an example, the Companyhas successfully used small, track-mounted diamond drills that canmove between drill sites with very minimal ground disturbance and treecutting. Meetings are being arranged with WLRS and the affected FirstNation to discuss proposed exemption conditions and mitigationplans.
The goal of the proposed 2023 to 2027 drilling is to atleast triple the existing 43-101 tungsten resource*, and then proceedto detailed engineering, environmental and feasibility studies.
Since initial prospecting discoveries in 2006, theCompany has drilled a total of 20,751 m in 188 diamond drill holes onthe property, of which 10,995 m in 144 holes were focused on theBN-RC-BK trend where the 43-101 resources are located. For additionalinformation on the current National Instrument 43-101 resourceestimate*, see the 2018 report listed below.
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 theCompany’s website at www.happycreekminerals.com .
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.
On behalf of the Board of Directors,
“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 . AlthoughHappy Creek has attempted to identify important factors that couldcause actual actions, events or results to differ materially fromthose described in forward-looking information, there can be noassurance that such information will prove to beaccurate as actual results and future events could differ materiallyfrom those anticipated in such statements. Happy Creek withholds anyobligation 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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