Happy Creek completes drilling at Fox tungsten property
02 Août 2013 - 6:30PM
Access Wire
August 2, 2013 - Vancouver, British
Columbia. Happy Creek Minerals Ltd. (TSXV:
HPY) (the "Company") is pleased to announce that drilling is
completed 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.
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. Together, these prospects are within a favorable target
horizon (calc-silicate or skarn) spanning a distance of three
kilometres and a lateral extent thought to be greater than one
kilometre.
During July 2013 the
Company drilled approximately 1,300 metres of NQ size core at the
RC prospect. Eighteen drill holes were completed and an additional
three holes were lost prior to cutting through the target horizon.
All completed drill holes intersected the favorable target horizon
that starts from surface and is estimated to be between 15 and 40
metres in thickness. Using Ultra Violet light to fluoresce
tungsten, the target horizon in the drill holes contain variable
concentrations of tungsten from trace to very strong. The
mineralized zone remains open in extent. Drilling to date at the RC
prospect has tested approximately 10-15% of the potential target
area on Deception Mountain. Logging and sampling of drill core is
currently being completed, and results will be released when
available.
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 of the RC prospect, drilling
at the BN prospect returned three intervals in hole F12-27: 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.
One kilometre north of the RC prospect, drilling at the BK prospect
returned 5.0 metres of 0.68% tungsten. (Refer to Press Release
dated November 19, 2012).
A grade of 0.7%
tungsten contains 7.0 kg W03 per tonne of rock, and tungsten
concentrate prices have recently risen to around $36/kg W03 with
more refined APT (ammonium paratungstate) prices around $42.0/kg
W03. Tungsten is regarded as a strategic and critical metal for
industrialized countries. 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 alloy 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. Zinc and indium also occurs with tungsten at
the Fox property. Indium is a rare metal used
in liquid crystal applications such as touch screens and prices
have also risen to over US$550/kg ($5.50/gram).
The near surface
setting, proximity to infrastructure and presence of high grades
are thought to make the Fox property 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: 604-687-2768 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.
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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