Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company ” ) , is providing an update on its activities over the past few months. Since announcing results of its 2019 work on both the Fox tungsten and Rateria
Happy Creek
provides update of activities
March
2
6
,
20
20
–
Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the
“Company
”
)
,
is
providing an update on its activities over the past few months.
Since announcing results of its 2019
work on both the Fox tungsten and Rateria
-
West Valley
copper projects, the Company has f
our
Confidentiality agreements
in place for
the purpose of
exploring potential transactions and
has
received
further
interest in its projects during the PDAC
convention
earlier this month. The Company
currently
has $1.1 million in cash on hand
and no
debt.
I
t is anticipated we will receive
a five
-
year exploration permit
next month
for the Rateria
-
West
Valley property
, which
includes
geophysics,
trenching and drilling
.
P
ermits to conduct similar work
at the Fox tungsten project are in place for 2020, while a five
-
year permit
that
expand
s
the scope
of work
to
a more advanced
-
stage
development project
is in progress
.
It is anticipated that logging
road construction will be completed that
provides
access to
un
-
explored
areas of the
Fox
property
including an area
containing up to 3,
12
0 ppm tungsten in
a
stream sediment
. In addition, the new
road will
be
within approximat
ely four km of
the
BN and Ridley Creek
deposits
.
Utilizing the
successful
2019 drilling at the Fox Nightcrawler zone, geological modelling is nearly complete
that
is expected to provide a substantial target with potential to significantly increase the proj
ect
resources.
Reports of work completed in 2019 on the Rateria
-
West Valley property have been
prepared and submitted to the BC government in support of its mineral tenure and the Fox
tungsten report is in progress.
David Blann, president, CEO of Happy Cr
eek Minerals
states “The
world is re
-
positioning due to
various global
and geopolitical
facto
rs
.
Our projects are 100% owned
,
in proximity to mines and
infrastructure in South Central B.C.
and we have
enough
cash on hand
to advance
them further
.
These aspe
cts along with having among the highest
-
grade tungsten resource in the
w
estern
w
orld
and
a solid copper exploration asset
a
djoin
ing
Canada’s largest
porphyry copper operation
,
are
thought to
provide
shareholders
optimum quality and value
in a low market
-
capitalization
company
.
We are respecting government recommendations
to isolate
and can function well
working from home
. In line with these policies, we are planning
to
safely
conduct field work
and
look forward t
o announcing
more details
for the
season
commenc
ing
in
late
April
or early
May.”
About the Rateria and West Valley property
The Rateria and West Valley mineral propert
ies
total approximately 244 square kilometres that
adjoin and surround the southern side
of the Highland Valley Copper
mine
property, Canada’s
largest base metal mine. The property is
predominantly
underlain by the Guichon batholith which
hosts four porphyry copper deposits
with
commercial production
continu
ing
for over 50 years.
Happy Creek has
partially outlined
by drilling two copper zones
for one km in length
with d
rill
grades consistent with currently
mined
deposits in the district
,
and the zones are open.
These are
thought to have near
-
term resource potential
and
are located
approximately 6.5
km southeast of
the Highmont
open pits
. Zone
s
1 and 2
have
returned
drill results including
95.0 metres of 0.67%
copper and 152.5 metres of 0.35% copper
/
0.12 g/t gold, respectively.
In addition, the Company has
recently
identified sever
al other areas of the property
with
potential
for new copper discoveries that remain untested by drilling
.
T
he Company considers the Rateria
-
West Valley property to be
a quality copper exploration asset within a
world class,
highly
productive
copper
distri
ct.
About the Fox tungsten property
The Fox tungsten property is located 75 km northeast of 100 Mile House in south Central B.C.
The Company has advanced the
Fox
project from an early stage and
on
February 27, 2018,
announced
a resource of 582,400
tonnes of 0.826% WO
3
(indicated) and 565,400 tonnes of
1.231% WO
3
(Inferred)
. This
is among the highest grade in the western world,
and
a portion
is
within an open pit shell. The Fox has a mineral system with dimensions of 12
km by 5 km and
numerous surfac
e showings and drill holes
have
intervals above cut
-
off grade
that remain open
to expand resources.
The
F
ox is thought to represent a
rare,
high
-
grade
strategic and critical
metal discovery
in a good location.
More information on the Rateria and West Valle
y copper, and Fox tungsten properties can be
found at
www.happycreekminerals.com
.
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
,
Office:
Phone: 604.662.8310
Email:
Website:
www.happycreekminerals.com
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 release.
David Blann, P.Eng.
, Director,
is a Qualified Person as defined by National Instrument 4
3
-
101 and is responsible for
the preparation and approval of the technical information disclosed in the news release.
Results or information from an
adjoining property does not infer that similar results or information will or does occur on the subject pro
perty.
Th
is 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
-
loo
king 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”, “fu
rther” 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 mineralized zone, potential 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 prices, curren
cy exchange rates, metallurgical 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 eq
uipment, accuracy of any mineral
resources, anticipated costs and expenditures. Assumptions 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 info
rmation
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 information. Additional information on risks and uncertainties can be
found within Fin
ancial 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 result
s 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. Hap
py 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.