Drilling Underway at Happy Creek's Fox Tungsten Property
July 16 2013 - 4:00PM
Access Wire
July
16, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV: HPY) (the "Company") is pleased
to announce that drilling is underway on its 100% owned, 165 square
kilometre Fox tungsten property. The Fox property is located
approximately 75 km northeast of 100 Mile House, in the
south-central Cariboo region of British Columbia,
Canada.
Drilling on the Fox
property is planned to consist of approximately 1,200 metres in 12
to 15 holes. Most holes are planned to be relatively short in
length due to the near-surface position and near-horizontal
orientation of the main mineralized zone, however a number of holes
will test for additional mineralized horizons. Mapping between and
beyond the known zones will be performed to provide a wider
geological perspective of the area.
On the Fox property,
positive values of tungsten occur in rock, stream sediment, soil
and drill core in a 10 km by 3 km area. 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 span a distance of three kilometres.
Surface chip sampling and drilling have returned positive tungsten
(W03- tungsten trioxide) grade and thickness that are near surface
in an open-pit setting.
Drill highlights from
2011 and 2012 at the RC prospect include 7.35 metres of 1.22%
tungsten (W03), 19.4 metres of 0.82% tungsten, 11.0 metres of 0.80%
tungsten, 20.0 metres of 0.63% tungsten and 24.7 metres of 0.68%
tungsten. One kilometer to the south at the BN prospect, F12-27
returned three intervals: 4.1 metres of 1.78% tungsten, 14.8 metres
of 4.0% tungsten and 24.0 metres of 0.79% tungsten including 5.8
metres of 2.01% tungsten (Refer to Press Release dated November 19,
2012). Geological mapping and results from drilling in three areas
indicate the main calc silicate/skarn unit hosting variable
concentrations of tungsten is around 25-40 metres in thickness and
approximately two kilometres by over one km in dimension. Results
from F12-27 suggest multiple (stacked) mineralized zones
occur.
A positive feature of
the mineralized skarn zone is its potential to host very high
grades: results include 0.40 metres of 9.60% tungsten, 3.64% zinc
and 19.20 g/t indium (DDH F11-07). A grade of 0.7% tungsten
contains 7.0 kg W03 per tonne of rock, and tungsten APT prices have
recently risen to around $40/kg W03. Indium is a rare metal used in
liquid crystal and touch screens and prices have also risen to over
US$550/kg ($5.50/gram).
Tungsten is regarded
as a strategic and critical metal for industrialized countries.
According to U.S. Geological Survey statistics, an apparent US$ 1
billion of tungsten was consumed in the U.S. during 2012. Over 50%
is used in cemented tungsten carbide for making cutting tools for
the construction, metalworking, mining, oil and gas drilling
industries. The balance is used for heavy
alloys in applications requiring high density such as electrodes,
filaments, wires, and other components for electronic, heating,
lighting, welding, steels, super-alloys, wear-resistant alloys and
chemicals for various applications.
The Fox property is
thought to be a unique and attractive new discovery in the global
tungsten sector.
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: 604-687-2768Toll 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.
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.
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