Happy Creek Begins Drilling at the Fox Tungsten Property
September 9, 2020 - TheNewswire - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV:HPY) (“Happy Creek” or the “Company”) is pleased to announce that a drill program has commenced on the Company’s 100% owned, 198 square kilometre Fox Tungsten Property (the “Fox Property”) in south central British Columbia. Following the completion of the Fox Property drill program, the Company will conduct a drilling program on the West Valley – Rateria copper project in southern British Columbia.
The 2020 Fox Property drill program will consist of eight holes totaling approximately 1,300 metres and include the following:
1) At the Nightcrawler zone, seven holes will test an 800- metre-wide portion of a mineralized layer up-dip and laterally from previous drill holes that include 5m of 1.0% W03 and 6.3m of 0.43% W03. Drill hole spacing is designed to potentially outline an inferred resource at this low elevation, road accessible portion of the property.
2) On the western side of Deception Mountain, one drill hole will be located on a new logging road for the first-ever test on this side of the Fox Property. On August 24, 2020, the Company announced that a marble-calc silicate host rock was discovered over five hundred metres and Ultraviolet lamping indicates the presence of scheelite (tungsten mineral). This zone is thought to potentially be geological extensions of the current resource-bearing marble-calc silicate unit located five km up-dip to the east. The drill hole will attempt to verify this interpretation and if successful provide a new, large scale target area on the Fox Property.
David Blann, President and Chief Executive Officer of Happy Creek states: “This drilling will be a road-based program with the potential to outline additional resources for the project at the Nightcrawler zone. The drill test on the western side of the Fox Property will provide the first look at the rock types and mineralization that could potentially connect with the current resources 5 km up-dip to the east. It is exciting to continue exploring a property with top-tier grades and the opportunity to be world class in scale.”
About the Fox Property
The Fox Property represents a rare, high-grade strategic and critical metal discovery, 75 km northeast of 100 Mile House in south central British Columbia. The Company has advanced the Fox Property 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 among the highest-grade deposits in the western world. The Fox Property has outcrop and drill holes containing tungsten in a 12 km by 5 km area. Numerous surface showings, trenches and exploratory drill holes contain grades that are above the resource cut-off. The Fox Property has the potential to expand the resources and become a leading contender for development.
Tungsten is a rare, heavy and hard element with the highest melting and boiling 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 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 in which the Company operates.
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
Walter Segsworth, Executive Chair
Renmark Financial Communications Inc.
Melanie Barbeau: firstname.lastname@example.org
Tel: (416) 644-2020 or (212) 812-7680
*roskill.com/news/May 28, 2020.
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 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, 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, 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, currency 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 equipment, 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 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 information. Additional 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 identify important factors that could 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. Happy 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.