Fox tungsten exploration February 2 8 , 201 7 –
Happy Creek
completes 2016
Fox tungsten
exploration
February
2
8
,
201
7
–
Vancouver, British Columbia.
Happy Creek Minerals Ltd. (TSXV:
HPY)
(the “Company
”
)
is
announ
cing
a summary of
exploration
work
completed
in
2016
on
its 1
00% owned
Fox tungsten property, located
northeast of 100 Mile House, in south c
entral
British Columbia, Canada.
Between May and October 12, 2016, the Company completed
2
,
330
m
etres
of drilling in 28
holes
,
79
m
etres
of surface chip and channel
sampling, 1.2 km of access trail construction
between the BN and Ridley Creek zones, 61 contour soil samples between the BN and BK
zones, and
geological
mapping with 23 rock samples collected for assay.
A table of drill and
trench results accompany this n
ews release on the Company’s website.
Initial exploration
and drill results were announced June 27, September 26, October 24, and October 31, 2016.
New results presented here include
additional
soil, rock, trench and drill results with a view
to the explor
ation
potential for
expand
ing
the current resource
as
announced January 26
,
201
7
.
Drill
and trench
results are uncut,
i
ntervals p
resented are measured down
-
hole
and
true widths
are estimated to be
75
to 95 percent of the
interval
.
Tungsten assays are
reported a
s
percent
WO
3
(tungsten trioxide) as it is the
compound
for which prices are
based,
and
is
currently
reported
around US$2
1
.0 per Kg WO
3
while
in 201
2
it was
around
US
$4
0
.0 per Kg WO
3
.
For reference, a grade of 0.8% WO
3
contains 8.0 kg/tonne of
WO
3
.
David Blann, P.Eng., President and CEO of Happy Creek states: “
During 2016, w
e
increased
the
Fox’s
contained tung
sten by two and a half times while
being among the highest
grade
in the
industry
, and a good portion
occurs
in
a low
-
strip,
surface
-
cut setting.
The
inferred
resource at
the BN zone with
1.89 percent WO
3
is
globally
among the highest
grade
.
In
addition,
new
mineralized
prospects
found at surface
are
clos
ing
the gap
s
between
t
he
708,
BN, Ridley Creek and BK zones
that span three kilometres, and the project is thought to
hold
great
resource potential
in the 10 km by 3 km mineral system
. With l
ess than one
percent of North America’s tungsten consumption
mined here, t
he Fox is
on track to be
an
important new
developme
nt project
with excellent grade, size potential and proximity to
infrastructure
.
We look forward to advancing this project further in 2017.
”
Resources
On January 26
th
, 2017, the Company announced resources for the Ridley Creek and BN
zones
. Together, the
se zones
now
contain
486
,000 tonnes grading 0.817%
WO
3
(Indicated)
and
361,000 tonnes grading 1.568%
WO
3
(Inferred)
.
For a portion of the Ridley Creek zone
,
there is 329,000 tonnes of 0.759% WO
3
(Indicated)
within a pit shell
having a
strip ratio of
3.3:1.
These grades are thought to be comparable to the Cantung mine
located in the
Yukon/Northwest Territories,
regarded as among the highest
-
grade deposits in the western
world.
Exploration Results
Ridley Creek zone
In 2016,
contour soil samples were collected
a
t the southeast corner of the current Ridley
Creek resource
.
In this area of the deposit,
drill hole F11
-
2
contains
2.20 metres of 2.11%
WO
3
starting at 7.15 metres
and the mineralized zone remains open in extent. T
he s
oils
returned positive tungsten values (11
-
183 ppm W)
a
long strike
to the southeast
that suggest
the mineralized zone may continue
near surface
for
200 metres further in this direction.
On
the southwest edge of the current resource,
drill hole F16
-
09 retur
ned several mineralized
intercepts including 3.0 metres of 0.52% WO
3
.
Approximately 150 metres along strike to the
north of the Ridley Creek
resource
, a chip sample from the bottom of a 20
-
metre thick calc
-
silicate cliff returned 1.5 metres of 3.44%
WO
3
and
the mineralized zone
is open in width.
These results suggest there is
good
potential to expand the near
-
surface portion of the
Ridley Creek
resource
in several directions.
BN
zone
In 2016, d
rilling
of nine holes
at the BN zone
together with
those
from 2012,
have outlined
an inferred resource of 254,000 tonnes grading 1.892% WO
3
.
D
rill holes F16
-
19 and F16
-
20 are the southern
-
most
in this zone
, and returned 6.0 metres of 0.56% WO
3
starting at
31.0 metres, a
nd 5.0 metres of 0.97%
WO
3
starting at 21.
0 metres,
respectively
. These
intercepts are closer to surface than the others
further north
.
Approximately
150 metres
south of these holes and at a lower elevation,
large
tabular shaped calc
-
silicate/
skarn
boulders were located at surface and are thought
to
be near
where the zone will daylight to
surface.
At the north end of th
e BN resource
, drill hole
s
F16
-
22 returned 4.0 metres of 1.36%
WO
3
and F12
-
27 returned
4.1 metres of 1.78% WO
3
at surface while
the main resource
layer
intercept returned
14.8 metres
of 4.0% WO
3
.
Starting at 136.0 metres and not included
in the
current resource
,
F12
-
27 also returned
7
.8 metres of
1.77
% WO
3
(along with
0.
64
%
zinc,
3.
0
g/t indium
,
6.8
g/t silver
and
151
g/t bismuth
)
and the
three
mineralized
layers
remain
open in extent
to the north
.
On
a larger scale, positiv
e tungsten in soil and
outcrop
located
in 2016
occur in a 1.5 km long zone to the southwest of
the
drilling.
The 708 prospect
is an outcrop with
2.0 metres of 1.52% WO
3
that is open in width.
Much of the BN area is
underexplored at surface.
The BN target
is situated near the contact
between
the
favorable
calc silicate host rock and the
Deception stock, which is
thought to be an ideal setting f
or
high
-
grade tungsten
skarn
deposits to occur
. Toge
ther, the results show excellent potential
to expand the
current
BN
resource.
BK
zone
Trench sampling performed
in 2016 has defined c
ontinuity at surface
ov
er a 20 metre strike
length with
3.0 m
etres
of 0.97%
WO
3
, 6.0
m
etres
of 0.66%
WO
3
, and between
these
trenches,
3.4
m
etres
of 3.42%
WO
3
.
The va
riation in grade of the
trenches
reflect
a
complexity
to
the mineralized zone.
The
mineralized
zone was traced
at surface for another
80 metres south
with a moderate degree of certainty
and chip samples
across
poorly
exposed outcrop
returned 2.0 metres of 0.66% WO
3
,
and
0.60 metres of 0.38% WO
3
which
remain open in width
. A
grab sample containing 1.31%
WO
3
also occurs. A
pproximately
120
metres further south
an outcrop containing 0.37% WO
3
in a grab sample was collected
and
the favorable geology
was mapped continuously south to
the Ridley Creek zone.
Fifteen metres southwest of the
BK
trenches, drill holes F16
-
11
(vertical)
and
F16
-
12
(
-
60
degrees)
are oriented to the southeast and
cut 1.0
metres of 0.46% WO
3
and 2.20 metres
of 0.66% WO
3
, respectively, and both intervals start at 12.5 metres down hole.
The
mineralized zone in the trenches is continuous through these drill holes
from surface,
while
the grade and thickness is
lower.
Seventeen metres west of the trenches, drill holes F16
-
14
(
-
45 degrees)
and F16
-
15
(
-
65 degrees)
are oriented to the northeast and
returned 5.2
metres of 0.70% WO
3
and 6.0 metres of 0.67% WO
3
, starting at 20.8 and 10.0 metres,
respectively.
The mineralized
zone remains open in extent with encouraging grade and
thickness.
The
down hole depths to the top of the zone
as
compared with the surface
mineralized zone in the trenches
suggest
post
-
mineral
folding
occurred
.
Folding of the
mineralized zone allows
poten
tial for
it
t
o
extend at least
50 metres
east of the trenches
where angular boulders returned values of 1.12% WO
3
and 4.65%
WO
3
. Additional drilling
and trenching
of t
he BK zone
is planned to further expand the known mineralized zone and
determine its resource potential.
South Grid
zone
T
he
South Grid
target
is
defined by positive tungsten in soil
in an area 1.25 km by 500 metres
in dimension
and
in early 2016,
twenty grab samples collected from widespread outcrop and
angular boulders returned positive tungsten
values
. Four samples contain from 1.75
-
5.89%
WO
3
, five samples contain from 0.35
-
0.76% WO
3
and five samples contain from 0.12
-
0.26%
WO
3
. At the end of the
2016 drilling program, t
hree
drill
holes
were
lost or abandoned
at a
shallow depth
due to deep
,
sinking mud conditions
.
The drilling
confirmed
the favorable
calc
silicate zones
are up
to 16.0
m
etres
in thickness
,
and dip 25 to 35 degrees southwest.
A
ssays
include 2.0 metres of 0.1
5% WO
3
starting at 2.0 metres in F16
-
27 and the hole was
lost at 19.6 metres.
Drill hole F16
-
28 returned 1.5 metres of 0.13% WO
3
starting at 26.5
metres and this hole was also abandoned.
A machine trench
cleared off an eight
-
metre
-
long
and approximately 0.60 metres wide portion of surface outcrop an
d grab samples collected
at two
metre intervals returned 0.22
–
0.54% WO
3
. This zone remains open in extent along
strike and width.
The South Grid target is thought to be insufficiently
tested
and may be
compar
ed
to
exploration at
the Ridley Creek zone
,
where
drilling returned 2.0 metres of
0.124% WO
3
that is located 100 metres from a drill hole containing 26.
1
metres of 1.
19
%
WO
3
.
Additional drill testing of
the
large
scale South Grid
is planned.
Associated metals
In addition to tungsten, r
esults
continue to
indicate values of zinc, indium, gold, silver
and
bismuth occur and
the Company’s previous
metallurgical
tests with flotation are encouraging
for a
separate
concentrate
as
pote
ntial by
-
product
credits
.
Drill hole F16
-
03 includes 3.4
metres with 2.19% WO
3
, 0.46% zinc, 3.0 ppm
(parts per million or grams per tonne)
indium,
129 ppb
(parts per billion)
gold
and 456 ppm bismuth, and F16
-
17 includ
es 4.1 metres of
5.1% WO
3
, 1.04%
zinc,
3.9 ppm indium, 97 ppb gold
and 301 ppm bismuth.
Elevated silver
values were returned in d
rill hole F16
-
10
with
2.0 metre
s of
11.0 g/
t silver, and F16
-
17
with
2.85 metre
s
containing
0.21% WO
3
and 100.0
g/t silver.
The Company
is monitoring and
track
ing the potential credits from by
-
products so that they may be included in a future
resource estimate.
Plans
The Company is completing reports of work
from 2016,
updating the website
and permits
for an expanded program in 2017.
Exploration on the Fox
property continues
to
find new
zones at surface
, and drilling
continues to
expand mineralized zones with
grades
amo
ng the
highest in the industry.
The Company has received approval for additional Federal
NSERC
funding in 2017
to
continu
e
scientific studies
conducted
through the University of British
Columbia.
P
lans for 2017
include
further
drilling
to
increase t
he size
of the project resource
base
and
perform
various engine
ering and environmental studies
with a view to potentially
conducting a preliminary e
conomic assessment.
The Company will be present at
the
PDAC in Toronto and have booth 2425 (b) on Tuesday
March 7
th
and Wednesday March 8
th
at the Investors Exchange.
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
Corporate Office:
Phone: 604.662.8310
Email:
Website:
www.happycreekminerals.com
Corporate Communications
Ron Birch: Phone: 250
-
545
-
0383
Toll Free: 1
-
800
-
910
-
7711
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
news
release.
David Blann, P.Eng. 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
.
Drill hole intervals are down
-
hole
measurements and while true thickness remains uncertain, they are e
stimated to be between 75
-
9
5 percent
of down hole
measurements.
D
rill core samples are derived from ½ core cut by rock saw and shipped to, prepared and analyzed at
SGS Laboratories in Burnaby, British Columbia.
Drill core
and trench
samples
are digested an
d analyzed by aqua regia
and ICP
-
MS as well as peroxide fusion and ICP
-
AES for
percent
tungsten (W), respectively. Over limit samples greater
than 4
percent
W are
re
-
analyzed
by XRF. W is multiplied by 1.261 to obtain WO
3
(tungsten trioxide) the compound for
which tungsten prices are quoted.
ICP
-
MS results are reported in ppm (parts per million) or ppb (parts per billion).
Samples returning over 4,000 ppm zinc are assayed to provide
percent
zinc. For composites, zinc (ppm)
is converted to
percent by dividing by 10,000.
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 cont
ains
"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", "i
ntends", "believe",
“opportunity”
,
“further”
and
others
, or
which
descri
bes a goal or action
, event or result
such as
"may", "should", "could", "would", "might"
or "will" be
under
taken, occur or achieved.
S
tatements
also include those that
address future mineral production, reserve
potential, potential size
or scale
of a
mineralized zone, potential expansion of mineralizati
on, 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
, metallurgi
cal 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 mine
ral resources, anticipated costs and expend
itures. A
ssumptions
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 un
known 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 i
n forward
-
looking information, t
here
can be no assurance that such information will prove to be accurate as actual re
sults 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.