Happy Creek Minerals Ltd. begins field work at the high-grade Fox Tungsten Property
Happy Creek Minerals Ltd. begins field work at the high-grade Fox Tungsten Property
July 20, 2020, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy
Creek” or the “Company”) is pleased to announce that Phase 1 exploration is underway on the
Company’s 100% owned, 198 square kilometre Fox Tungsten Property in south central British
Columbia, Canada.
The Fox Tungsten Property (the “Fox” or the “Property”) represents a rare, high-grade strategic
and critical metal discovery in a good location and has resources with grades similar to the top
five projects in the western world.
The 2020 Phase 1 exploration program will include surveys, prospecting, geological and
geochemical studies in an area where approximatel y eight km of logging roads have been built
over the past year and extend up the southwest side of Deception Mountain and much closer to
the Company’s current high-grade tungsten resources. The new road cuts also have potential to
reveal bedrock in this under-explored and prospective area. The Company’s previous
reconnaissance traverses in this area have resulted in the discovery of calc-silicate (the tungsten
host rock) boulders and stream sediment sa mples containing 14 ppm, 46 ppm, 708 ppm and
3,120 ppm W (tungsten) over approximately 2 km. These results are comparable to those in
creeks draining the high-grade Ridley Creek tungsten deposit on the east side of the mountain. A
principle objective of exploration in this new area is to locate more tungsten-bearing calc-silicate
that may be extensions of the Ridley Creek and other high-grade tungsten deposits along a 5 km
trend and up-dip to the northeast.
In addition, the new roads provide easier access north of the Nightcrawler zone where it is
expected to come to surface. As announced in the Company’s news release dated November 4,
2019, drill hole F19-02 in the Nightcrawler zone returned excellent results including 6.3 metres of
0.43% W03 at a depth of 60 metres below surface. This intercept along with previous drill results
up to 5.0 metres of 1.0% W0 3 are comparable with the current Fox deposits and other known
tungsten projects in the western world being considered for development. Recently completed 3D
geological modelling of the Nightcrawler zone has identified a target for which just a few
confirmatory drill holes can potentially add substantial resources to the Property. The model also
suggests this zone should outcrop at surface approximately 100 metres further north of drill hole
F19-02 and evidence for this will be sought during the Phase 1 program.
David Blann, President and Chief Executive Officer of Happy Creek states: “It is always exciting
to have the first look at new areas and the opportunity to discover more high-grade tungsten that
the Property is known for. Results of Phase 1 wi ll assist in designing the next drill program to
increase the Property’s resources in support of a preliminary economic assessment for a long-
life, large-scale and high-grade tungsten operation.”
About the Fox Tungsten Property
The Fox is located 75 km northeast of 100 Mile House in south Central British Columbia. The
Company has advanced the Fox from discovery to a resource estimate of 582,400 tonnes of
0.826% WO3 (Indicated) and 565,400 tonnes of 1.231% WO3 (Inferred) that is open for expansion
and amongst the highest-grade deposits in the western world. The Fox has a 12 km by 5 km
tungsten mineral system with numerous surface showings, trenches and exploratory drill holes
containing grades that are above the resource cut-off. There is thought to be excellent potential
to expand the resources and for the Fox to become a leading contender for development.
About Tungsten
Tungsten is a rare, heavy, and hard element with a very high melting point. It is mostly used in
cemented tungsten carbide and high-speed alloy cutting tools that are used in the manufacturing
and construction industry, with numerous other applications including electrical, medical and
defense. Tungsten has recently been declared a “critical” element by Canada, USA and the EU.
According to the US Geological Survey tungsten is one of 35 critical and strategic minerals that are
“essential to the economic and national security of the United States.” Currently over 80% of world
supply is from China, and only a small amount of primary supply comes from North America to
meet demand. A recent supply/demand analysis by Roskill suggests five new tungsten mines of
>1000 tonnes (WO3) per year capacity will be required by 2024, rising to nine by 2029.*
More information on the Fox Tungsten Property can be found on the Company’s website at
www.happycreekminerals.com . 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 the Company operates in.
On behalf of the Board of Directors,
“David E Blann”
David E. Blann, P.Eng.
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Blann, President and Chief Executive Officer
Office:Phone: (604) 662-8310
Email: [email protected]
Walter Segsworth, Executive Chair
Email: [email protected]
Renmark Financial Communications Inc.
Melanie Barbeau: [email protected]
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
*roskill.com/news/May 28, 2020.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is def ined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Blann, P.Eng., Director, is a Q ualified Person as defined by National In strument 43-101 and is responsible for
the preparation and approval of the technical information disclosed in the news release.
This press release contains "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, identi fied by the use of words such as "seek", "anticipate",
“foresee”, "plan", "planned", "continue", "expect", “thought to”, "project", "predict", "potential", "tar geting", "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, reserve potential, potential size or scale of a miner alized zone, potential expansion of
mineralization, potential type(s) of mini ng, 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, metallurgical recoveries
and grades, favourable operating conditi ons, access, political stab ility, obtaining or renewal of existing or required
mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral
resources, anticipated costs and expenditures. Assumpti ons may be based on factors and events that are not within
the control of Happy Creek a nd there is no assurance they will prove to be correct. Such forward-looking information
involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results
expressed or implied by such forward-looking informati on. Additional information on risks and uncertainties can be
found within Financial Statem ents, Prospectus and other materials f ound on the Company’s SEDAR profile at
www.sedar.com. Although Happy Creek has attempted to identify im portant factors that coul d cause actual actions,
events or results to differ materially from those described in forward-looking information, there can be no assurance
that such information will prove to be accurate as actual results and future events could differ materially from those
anticipated in such statements. H appy 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.