Happy Creek Defines Large Copper-Moly Targets at Highland Valley and Completes Mystery Property Acquisition
Happy Creek Defines Large Copper-Moly Targets at Highland Valley and Completes
Mystery Property Acquisition
March 3, 2022, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy
Creek” or the “Company”) is pleased to report the delineation of several new multi-kilometre
copper-molybdenum targets from the Company’ s 2021 exploration activities on the Highland
Valley project.
In addition, the TSX-V has approved the Purchase and Sale Agreement for the adjoining and
highly prospective 438-hectare Mystery property, as announced on February 24, 2022.
Peter Hughes, President and CEO said “The Company’s 2021 field program was successful in
defining brand-new targets at Highland Valley. With the property’s location in an active and mature
mining district, our cost-effective and methodical program of soil sampling and “boot and hammer”
prospecting has outlined several compelling, large-scale copper-molybdenum-gold targets for
follow-up exploration and drilling. We also acquired a 100% interest in the highly prospective
Mystery property, expanding our Zone 2 area. Management’s goal is to discover a world-class
deposit in Canada’s most prolific copper mining district.”
During summer and fall 2021, Happy Creek collected over 2100 soil, stream silt and prospecting
rock samples.
The 2021 field work was primarily focused on the northern 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 has returned consistently strong copper
grades, with locally enhanced gold, 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/t Au, and 0.005% Mo in
hole R17-05, 126 m grading 0.46% Cu, 0.10 g/t Au and 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
Three new multi-kilometre copper-molybdenum targets were identified through soil
sampling and prospecting. These new targets, named Billy, Corridor and Northwest,
have received minimal past exploration or drilling (Figures 1 to 4).
Prospecting within the new soil anomalies and elsewhere on the very large property has
discovered several new areas of mineralization, including at Billy Road where a grab
sample of float returned 1.45% Cu and 0.167 g/t Au.2
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 with three relatively short drill holes by Hudson Bay Exploration and Development
(Hudbay) in 1993. Hole 93CVS-11 is reported to have intersected a very broad (230 m
wide), intense porphyry alteration zone with encouraging copper and molybdenum values
to the last sample near the end of the hole.
2
The Company holds a multi-year permit for over 100 drill sites and related work. Follow-
up archaeology and environmental studies were completed on over 30 proposed drill sites
by First Nations consultants in 2021 and planning is underway for the 2022 exploration
program.
Rateria Soil Geochemical Survey
A total of 1907 soil samples were collected on the Rateria soil grid and resulted in the discovery
and delineation of several 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 (90th percentile) to 48 ppm Mo.
The new anomalies have had minimal past exploration but appear much larger and stronger than
soil anomalies associated with known mineralization. This is best demonstrated by the relatively
small Cu and Mo anomalies over the Zone 1 Cu-Ag deposit and the Zone 2 Cu-Mo-Ag-Au deposit.
Both of these deposits have drill holes with mineralization intersected beneath glacial till at the
bedrock surface.
The impressive Billy Copper anomaly has been outlined over an area of 3500 by 1000 m and
remains partially open to the east. Maximum values occur at the north end (2190 ppm Cu) and
are coincident with the strongest Mo values with up to 48 ppm in the 500 by 1000 m Billy Moly
anomaly (Figure 2).
The Northwest Moly anomaly is strong, with values of molybdenum-in-soil ranging from 3 to 23.5
ppm Mo, and large, with dimensions of 2500 m by 500 m. It partly overlies the Zone 2 Cu-Mo-Ag-
Au deposit and extends northwesterly onto the newly acquired Mystery property where it remains
open (Figure 2). Scattered values of high copper in soil also fall within the molybdenum trend.
This anomaly has very good potential for discovery of new mineralization along the untested two-
kilometres between the Zone 2 deposit and historic Mystery hole 93CVS-11, described below.
The Corridor Copper-Moly-Gold target is located 1000 m west of Zone 2 (Figure 2). The new
soil results demonstrate a series of discontinuous Cu soil anomalies that trend northerly for 2 km
onto the Mystery property, where it merges with the Northwest moly anomaly described 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 in soil are also present and have received
scant prospecting or drilling.
Rock Sampling and Targeting
Nineteen prospecting rock samples were collected across the property in 2021, mainly from
bedrock exposures and road cuts (Table 1, Figur es 3 and 4). Twelve of the 17 prospecting
samples returned copper values ranging from 1000 to 14,500 ppm (1.45%) Cu. Three rock
samples in the Rateria area were also anomalous for Au (120 to 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 4.1 ppm Ag (Figure 3). The sample is located
200 m north of several historic bulldozer trenches, where 2020 samples by Happy Creek returned
6090 ppm Cu from a spoil pile, and 4090 ppm Cu from a 25 cm shear zone. 2 There has only
been two historic drill holes in the Billy target area and additional IP surveys and prospecting are
required prior to final selection of drill sites.
3
In the Corridor target, about 1000 m west of Zone 2 deposit, two prospecting samples and a
series of discontinuous Cu-in-soil anomalies suggest the potential for a new, parallel mineralized
trend. A 15 cm chip 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 this target, with R08-06, intersecting 334.66 m grading 0.07% Cu (Figures 2
and 3), that confirms the potential for very broad porphyry mineralization here.
In the West Valley portion of the property, seven chip and two grab samples2 were collected from
the Abbott South area, which straddles the regionally important Lornex fault (Figures 1 and 4,
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 recent forest 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 surveys by Happy Creek and others had identified
promising chargeability and resistivity features within these target areas. Limited additional
surveying is warranted to expand the IP coverage prior to drilling.
Mystery Property
Happy Creek has now received TSX-V approval for the purchase of a 100 per cent interest in the
adjoining Mystery Property, as announced on February 24, 2022 (Figures 1, 2, and 3). The
Mystery property has excellent exploration potential based on extensions of soil, geological and
geophysical features from the Zone 2 deposit area and historic hole 93CVS-11. Together these
attributes define a drill-ready porphyry Cu-Mo target area.
The Mystery area has been explored by various parties over the years most notably Hudson Bay
Exploration and Development Company Limited in the early 1990s. Hudbay completed three drill
holes in 1993 at the south end of Mystery Lake (Figures 2 and 3) and noted the presence of
copper mineralization associated with a robust hydrothermal alteration system. Results are
summarized in a December 1993 Hudson Bay report as follows:
“An intrusive complex was intersected in hole 93CVS-11 with at least three varieties of porphyry
displaying varying degrees of alteration. In the best hole (93CVS-11) intense pervasive
hydrothermal alteration displays a complex sequence of events. Mineralization is dominantly
chalcocite-bornite-quartz veining, with the best intercepts containing 1.36% copper (and 11.8 g/t
Ag) across 3 metres, in local high-grade mineralization. Lower copper levels are more typical of
the mineralization and include a 12 metre interval of 2664 ppm (0.27%) Cu (with elevated
molybdenum and silver). Hole 93CVS-11 intersected about 230 metres of moderate to intense
pervasive sericite altered rock, punctuated by up to 40 metre wide K-spar altered intervals.
Sericite alteration is complicated by the presence of a later, strong sericite overprint (sericite II).
(S.G. Enns, BC Property File #PF804381).1
Review of Hudson Bay drill logs indicate that the alteration and mineralization is present almost
to the very the end of the hole at 300.5 m. 1 Happy Creek intends to immediately prepare this
target for drilling with geology, soils and limited IP work.
Work Plans, Permitting, and COVID Safety
4
In spring and early summer of 2022, Happy Creek will optimize the opportunity for successful drill
testing at the various targets outlined above through additional geological studies, prospecting,
soils and IP geophysical surveys.
Happy Creek holds two exploration permits from the Government of British Columbia for the
Highland Valley project, which are good through 2026 and allow for over 100 drill pads, plus
trenches, access trails and induced polarizati on surveys. Archaeological and environmental
studies have been completed on 36 potential drill or trench sites by consultants from the
nearby Nlaka’pamux communities. These studies will be expanded to cover newly defined target
areas.
The Company operates with the principles and guidelines set out for COVID-19 that are
established by provincial health and safety authorities to protect workers and the communities in
which the Company operates.
Indigenous Communities
Happy Creek Minerals is committed to responsible mineral resource development. Our priority is
to build and sustain mutually beneficial relationships with Indigenous Communities in the
territories in which we explore.
About Happy Creek Minerals Ltd.
Happy Creek is focused on making new discoveries and building resources in proximity to
infrastructure on its 100-percent-owned portfolio of diversified metals projects in British Columbia.
The Company’s Management, Board of Directors and Technical Advisors have solid expertise
and depth in the mineral resource sector and 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, underexplored exploration
asset in the world-class Highland Valley district. The Company’s property package adjoins the
Highland Valley Copper (HVC) mine on its southern side 3. The mine, Canada’s largest copper
producer, has been in production for nearly 60 years. Happy Creek’s Zone 1 and Zone 2
discoveries, which lie just 6.5 kilometres southeast of HVC’s Highmont open pits3, show laterally
continuous mineralization that has been outlined with 28,000 metres of drilling and remains open
in several directions. The Company also continues to generate new copper targets within this
large and prospective property.
More information on the Company’s projects can be found on the Company’s website at
www.happycreekminerals.com.
Quality Assurance / Quality Control Procedures
Samples were shipped to, prepared, and analyzed at ALS Canada Ltd (ALS) in North Vancouver,
British Columbia. ALS meets all requirements of International Standards ISO/IEC 17025:2005
and ISO 9001:2015 for analytical procedures. Samples are analyzed for gold by fire assay method
AU-ICP21, and for trace elements by ultra-trace aqua regia 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 drill core samples.
5
Qualified Person Statement
The technical and scientific contents of this release have been prepared, verified and approved
by Mike Cathro, P.Geo, a director of the Company, and a qualified person pursuant to National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
References and Disclosure
1 The Qualified Person has not completed sufficient work to verify the historic information on the
Property, particularly in regard to historical drill results. However, the Qualified Person believes
that drilling and analytical results were completed to industry standard practices. The information
provides an indication of the exploration potential of the Property but may not be representative
of expected results.
2 Grab and chip samples are selective by nature and the values reported may not be
representative of the entire mineralized zone.
3 Mineralization hosted on adjacent and/or nearby pr operties is not necessarily indicative of
mineralization hosted on the Company’s property.
On behalf of the Board of Directors,
“Peter Hughes”
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Hughes, President and Chief Executive Officer
Office Phone: (604) 662-8310
Email: [email protected]
Neither the TSX Venture Exchange nor its Regul ation Services Provider (as that term is defined in the policies of the TSX Ventu re
Exchange) accepts responsibility for the adequacy or accuracy of this release.
The reader is cautioned that results or information from an adjac ent property does not infer or indicate similar results or inf ormation
will or does occur on the subject property. Hi storical information from the subject or adjacent property cannot not be relied u pon as
the Company’s QP, a term which was created and defined under NI-43-101, has not prepared nor verified the historical information.
This press release contains "forward-look ing information" within the meaning of ap plicable securities laws, including statement s that
address capital costs, recovery, grade, and timing of work or pl ans at the Company’s mineral projects. Forward-looking information
may 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, event or result such as "may", "should", "could", "would", "might" or "will" be undertaken, occur or achieved. Statements
also include those that address future mineral production, rese rve potential, potential size or scale of a mineralized zone, po tential
expansion of mineralization, 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 pric es, currency exchange rates, metallurgical recoveries and grades,
favourable operating conditions, access, political stability, obtai ning or renewal of existing or required mineral titles, lice nses and
permits, labour stability, market conditions , availability of equipment, accuracy of any mineral resources, anticipated costs a nd
expenditures. Assumptions may be based on factors and events that ar e not within the control of Happy Creek and there is no
assurance they will prove to be correct. Su ch forward-looking information involves known and unknown risks, which may cause the
actual results to materially differ, and/or any future results ex pressed or implied by such forw ard-looking information. Additi onal
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 ident ify important factors that could cause
actual actions, events or results to differ materially from those described in forward- looking information, there can be no ass urance
that such information will prove to be accurate as actual results 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 ne w
information, future events or otherwise, unless required by law.
6
Figure 1. Highland Valley property map, showing key mines, deposits, prospects, the new
Mystery property acquisition, and the Billy copper anomaly.
Figure 2. Soil geochemistry maps for copper and molybdenum of northern Rateria property.
Zone 1 Cu-Ag, Zone 2 Cu-Au-Mo and Yubet Cu deposits are also shown by heavy dashed line.
Figure 3. Selected rock samples in the northern Rateria property, in relation to known deposits
and targets.