February 21, 2014 - /ACCESSWIRE/ - Vancouver, British Columbia.
Happy Creek Minerals Ltd. (TSXV: HPY) (the "Company") announces
final drill results from the 2013 drilling on its 100% owned, 165
square kilometre Fox tungsten property. The property is well
situated approximately 25 km east of the past producing Boss
Mountain molybdenum mine, and 75 km northeast of the town of 100
Mile House in the south-central Cariboo region of British Columbia,
Canada.
Highlights of new results from the RC zone include F13-19
returning 26.25 metres of 1.19 percent tungsten trioxide (W03),
including 3.66 metres of 4.60 percent tungsten trioxide, 0.62
percent zinc, 1.25 g/t silver, 0.05 g/t gold and 3.3 g/t indium.
F13-08 returned 2.7 percent tungsten trioxide over 3.18 metres, and
F13-09 returned 1.0 metre of 3.69 percent tungsten trioxide that
are both within overall wider intervals.
At the RC, drilling continues to outline a new tungsten deposit
that starts at surface and dips shallowly westward. Drill holes
F13-08, F13-09, F13-15 and F13-19 have demonstrated continuous
mineralization occurs and expanded the zone an additional 50 metres
to the south and 33 metres to the northwest. The zone remains open
to further expansion. A map detailing drill hole locations and a
summary of previous drill results are located on the company's
website: www.happycreekminerals.com.
Highlights of new drill results
--------------------------------------------
|Drill |From |Interval|W03 (%) |Kg of W03|
|hole |(m) |Length |tungsten| per |
| | |(m) |trioxide|tonne |
|------------------------------------------|
|F13-08 |12.0 |14.8 |0.59 |5.9 |
|------------------------------------------|
|includes|22.0 |3.18 |2.70 |27.0 |
|------------------------------------------|
|F13-09 |31.35|17.35 |0.50 |5.0 |
|------------------------------------------|
|includes|48.0 |1.0 |3.69 |36.9 |
|------------------------------------------|
|F13-15 |24.0 |4.0 |0.58 |5.8 |
|------------------------------------------|
|F13-19 |31.75|26.25 |1.19 |11.9 |
|------------------------------------------|
|includes|37.3 |3.66 |4.60 |46.0 |
|------------------------------------------|
|F13-21 |24.0 |22.0 |0.26 |2.6 |
|------------------------------------------|
|Includes|44.0 |2.0 |1.03 |10.3 |
--------------------------------------------
David Blann, President and CEO of Happy Creek states: "Drilling
continues to produce excellent tungsten grades and the RC zone is
open for further expansion. New results from the RC prospect
includes 3.66 metres of 4.6 percent tungsten, which is a similar
grade to F12-27 located about one kilometre away at the BN prospect
that returned14.98 metres of 4.0 percent tungsten. These very
strong tungsten grades occur quite frequently on the Fox property
and attest to the strength and quality of this mineral system. To
date, we have focused on just a portion of one target that is
approximately three kilometres by one kilometre in dimension.
Results clearly warrant advancing the project and we see an
excellent opportunity for an important new tungsten deposit to be
developed in British Columbia."
Results and descriptions of holes F13-01 to F13-07 were
announced August 7and September 9, 2013. With the gently-dipping
favorable skarn horizon, vertical drill hole intersections are near
true thickness, while angle drill hole intercepts are approximately
130-135% of true thickness and closer to surface than the down-hole
starting point. Drill hole F13-08 is a step out located 50 metres
south of F13-07 and returned 14.8 metres of 0.59 percent tungsten
trioxide starting at 12.0 metres. This includes 3.18 metres of 2.7
percent tungsten trioxide, 0.18 percent zinc, 0.07 g/t gold and 1.1
g/t indium. F13-09 is located approximately 20 metres northwest of
F13-03, and returned 17.35 metres of 0.50 percent tungsten trioxide
starting at 31.35 metres, or approximately 25 metres below surface.
This interval includes 1.0 metre of 3.69 percent tungsten trioxide.
F13-15 is located 75 metres southwest of F13-08 and returned 4.0
metres of 0.58 percent tungsten trioxide.
F13-10 and 11 are located 50 metres south of F13-08. Results
from F13-10 include 4.0 metres of 0.20 percent tungsten trioxide.
F13-11 from the same set up was lost due to a drill problem at 17.0
metres and the final 2.97 metre sample returned 0.12 percent
tungsten trioxide. This hole did not cut the full thickness of the
favorable target horizon, however results indicate the mineralized
zone is present and remains open in extent to the south. F13-16 is
an angle hole from the collar of F13-15 and returned 10.0 metres of
0.05 percent tungsten trioxide starting from 44.0 metres. F13-12,
13, 14 and 17 are located to the south and southeast, up to 200
metres from F13-08. These holes cut the favorable skarn geology
with multiple 1.0 to 3.0 metre intervals containing trace (less
than 0.05 percent) tungsten trioxide. F13-14 ended at a depth of
36.8 metres, which may have been too short to test the full
thickness of the favorable horizon. Additional drilling nearby is
required to define the extent of high grades occurring in trenches
RT 1-5 (7.0 metres of 0.80 percent tungsten trioxide) and drill
hole F11-02 (5.15 metres of 0.91percent tungsten trioxide).
Drill hole F13-18 is located approximately 50 metres north of
F12-15/16, and returned an 18 metre interval of skarn containing
trace tungsten including 2.1 metres of 0.14 percent tungsten. This
hole is thought to define the eastern edge of higher grade
mineralization. F13-19 is an angle hole located adjacent the collar
of F12-11 (vertical with 14.0 metres of 0.66 percent tungsten
trioxide) and returned 26.0 metres of 1.19 percent tungsten
trioxide starting at 31.75 metres, including 3.66 metres of 4.66
percent tungsten trioxide. The interval in F13-19 is horizontally
between approximately 20 and 33 metres away from F12-11, and the
mineralized zone is open in extent. F13-20 (vertical) is located
approximately 50 metres northeast of F12-09 (vertical with11 metres
of 0.82 percent tungsten trioxide) and returned 8.3 metres of 0.15
percent tungsten trioxide. F13-21 is located at the collar of
F13-02 (hole may have been short of full zone thickness), and
returned 22.0 metres of 0.26 percent tungsten trioxide including
2.0 metres of 1.0 percent tungsten trioxide. These results are
consistent with results of F13-02.
Summary of 2013 drilling results from the RC zone
--------------------------------------------------------------------------------------
|Hole |Azimuth/ |From |Interval|W03 |Comments |
| |Angle |(m) |Length |(%) | |
| | | |(m) | | |
|------------------------------------------------------------------------------------|
|F13-01|vertical |26.80|2.7 |2.01|Hole lost at 30.4m. Portion of zone only |
|------------------------------------------------------------------------------------|
|F13-02|270/-50 |40.44|1.4 |2.22|Ended in granite sill: |
| | | | | |may not have cut lower |
| | | | | |zone |
|------------------------------------------------------------------------------------|
|F13-03|vertical |20.00|22.0 |0.76| |
|------------------------------------------------------------------------------------|
| |includes |26.60|3.3 |2.14|Upper zone (above granite sill) |
|------------------------------------------------------------------------------------|
| |includes |35.00|5.0 |1.86|Lower zone (below granite sill) |
|------------------------------------------------------------------------------------|
|F13-04|vertical |30.00|4.0 |0.03|Still in calc silicate at end of hole at 50.9m |
|------------------------------------------------------------------------------------|
|F13-06|270/-55 |14.00|16.0 |0.23| |
|------------------------------------------------------------------------------------|
| |includes |21.85|6.2 |0.55| |
|------------------------------------------------------------------------------------|
|F13-07|vertical |12.00|22.0 |0.36| |
|------------------------------------------------------------------------------------|
| |includes |25.80|8.2 |0.87| |
|------------------------------------------------------------------------------------|
|F13-08|vertical |12.00|14.8 |0.59| |
|------------------------------------------------------------------------------------|
| |includes |22.00|3.2 |2.70| |
|------------------------------------------------------------------------------------|
|F13-09|270/-55 |31.65|17.4 |0.50| |
|------------------------------------------------------------------------------------|
| |includes |48.00|1.0 |3.69| |
|------------------------------------------------------------------------------------|
|F13-10|vertical |16.00|4.0 |0.20| |
|------------------------------------------------------------------------------------|
|F13-11|270/-55 |14.00|3.0 |0.12|Hole lost at 17 .0 m at beginning of upper zone|
|------------------------------------------------------------------------------------|
|F13-15|vertical |24.00|4.0 |0.58| |
|------------------------------------------------------------------------------------|
|F13-16|270/-50 |44.00|10.0 |0.05| |
|------------------------------------------------------------------------------------|
|F13-18|vertical |6.00 |18.0 |0.03| |
|------------------------------------------------------------------------------------|
| |includes |6.00 |2.1 |0.14| |
|------------------------------------------------------------------------------------|
|F13-19|270/-50 |31.75|26.3 |1.19| |
|------------------------------------------------------------------------------------|
| |includes |37.30|3.7 |4.60|Upper zone (above granite sill) |
|------------------------------------------------------------------------------------|
| |includes |45.00|9.8 |1.39|Lower zone (below granite sill) |
|------------------------------------------------------------------------------------|
|F13-20|vertical |4.00 |8.3 |0.15| |
|------------------------------------------------------------------------------------|
|F13-21|270/-55 |24.00|22.0 |0.26| |
|------------------------------------------------------------------------------------|
| |includes |44.00|2.0 |1.03| |
--------------------------------------------------------------------------------------
A review of all drill results since discovery in 2011 indicate
33 selected drill core intervals have a width-weighted average
grade of 2.48 percent tungsten trioxide over 2.92 metres. These
results provide an indication of the frequency for very high grades
in this new discovery and the potential for more with further
drilling. A grade of 2.5 percent tungsten trioxide contains 25.0 kg
of W03 per tonne of rock, and recent tungsten prices are around
Can$40.0.0/kg W03 (1).
For deposits in a reasonably favorable location worldwide,
published tungsten deposit cutoff grades (estimated financially
"breakeven" grade) vary for underground situations (0.15 - 0.35
percent tungsten trioxide) and open pit (0.10 - 0.15 percent
tungsten trioxide). The Company has not yet determined a cutoff
grade for the Fox property.
The Company has explored the Fox property from an early stage
returning positive values of tungsten in rock, stream sediment,
soil and drill core in an area 10 km by 3 km in dimension. In the
northern area and on the east side of Deception Mountain, four
outcropping mineralized zones are named from south to north; the
708, BN, RC (Ridley Creek), and BK prospects. These prospects are
within a favorable calc silicate-skarn unit that span a distance of
three kilometres and a lateral extent thought to be greater than
one kilometre. To date, the Company has tested by drilling three of
the prospects, with the central RC zone being the main focus of the
2011-2013 drilling.
During 2013 a reconnaissance traverse over 1.5 km to the
southeast of the RC zone investigated positive tungsten values
occurring in soil and located angular subcrop rubble containing
scheelite (tungsten mineral). The positive soil anomalies in this
area are at the end of the soil grid lines and remain open in
extent; they are thought to potentially reflect a lower elevation
tungsten skarn horizon not previously located. Much of the Fox
property remains underexplored.
Tungsten is regarded by the British Geological Survey as a
strategic and critical metal essential for industrialized
countries. Over 50% is used in cemented tungsten carbide to make
cutting tools for the construction, metalworking, mining, oil and
gas drilling industries. The balance is used in applications
requiring high temperature stability and density in electronic
components, super-alloys, wear-resistant alloys and chemicals.
Values of zinc, gold, silver, indium and bismuth also occur with
tungsten at the Fox property. Indium is a rare metal used in liquid
crystal applications such as touch screens.
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: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Registered Investor Relations:
James Berard Phone: 604-687-2768 Toll free: 1-877-459-5507
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. Happy Creek employs a strong Quality Assurance and Control
system for its drilling programs. Samples are cut from NQ size
drill core using a rock saw and a blank, certified standard or
duplicate are inserted into the sample string every tenth sample.
Samples are sealed and shipped to Agat Laboratories in Burnaby,
B.C. Samples are prepared and analyzed first by aqua regia digest
and ICP- OES+ ICP-MS finish for zinc, gold and silver values in
parts per million (ppm) or grams per tonne (g/t). Zinc values are
divided by 10,000 to give zinc %. Samples that return greater than
50 ppm W (tungsten) are re-tested in triplicate using a peroxide
fusion digestion and ICP-finish and are averaged to provide a final
assay result. Triplicate results averaging greater than 1.0% W are
checked again by an XRF assay and that result is averaged with the
triplicate peroxide fusion to give a final result. Tungsten assay
results are around +/- 5 to 10% of the final average and considered
reasonable for a nugget effect inherent in coarse grained
scheelite/tungsten mineralization. Tungsten (W) assays are
converted to W03 (tungsten trioxide) with a multiplication factor
of 1.261. W03 is the basis of tungsten market pricing. (1) Tungsten
APT (ammonium paratungstate) prices converted to Canadian dollars
are from Metals Pages December 2013.
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.
Happy Creek Minerals (TSXV:HPY)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
Happy Creek Minerals (TSXV:HPY)
Historical Stock Chart
Von Nov 2023 bis Nov 2024
