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HPY Happy Creek Minerals Ltd

0.055
0.00 (0.00%)
25 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Happy Creek Minerals Ltd TSXV:HPY TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.055 0.05 0.06 0 13:57:52

Happy Creek Announces Drilling Is Underway on the Rateria Copper Property, Highland Valley Area, B.C.

22/09/2009 4:31pm

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Happy Creek Minerals Ltd. (TSX VENTURE: HPY) (the "Company") is pleased to announce that drilling has commenced on its Rateria property that adjoins the southeast, Teck Resources Ltd's Highland Valley copper mine property. The Highland Valley Copper mine is North America's third largest copper producer.

The 2009 diamond drilling program is planned to expand on the positive drill results returned from Zone 1 and 2 that were first discovered by the Company between 2006 and 2008. Results from Zone 1 include 100.0 metres grading 0.29 percent copper, 84.0 metres of 0.30 percent copper, and 10.4 metres grading 1.55 percent copper. Several holes ended in copper mineralization. Results from Zone 2 include 177.0 metres grading 0.37 percent copper including 27.0 metres grading 1.05 percent copper, 0.02 percent molybdenum, 5.0 g/t (grams per tonne) silver and 0.24 g/t gold, as well as 153.1 metres containing 0.24 percent copper, including 17.5 metres containing 1.12 percent copper. These two positive drill intercepts from Zone 2 are two hundred metres apart and remain undefined and open in extent. Drilling is planned to test for extensions of Zone 2 that occur in a five kilometre long "corridor" defined by positive geophysical and geological information.

The Company also announces preliminary results from the 100% owned West Valley property that adjoins the southwest portion of Teck's Highland Valley Copper property. Preliminary results from the 2009 geological mapping program include the location of the new NTP zone that was exposed during recent logging road construction. Here, two grab samples approximately 65 metres apart returned 1.7 percent copper, 0.37 g/t gold and 1.4 percent copper, 0.27 g/t gold. Other mineralized outcrops occur up to one kilometre away including 0.80 percent copper, 0.07 g/t gold. This new mineralized zone occurs between two other historical copper prospects and together defines an area of interest approximately 2 kilometres by 1.5 kilometres in dimension. Grid lines are currently in preparation for a 3D induced polarization and magnetic geophysical survey over this area.

The Company has assembled a 100 percent interest in over 140 square kilometres of mineral claims within one of North America's most prolific copper mining camps. To date Happy Creek has discovered by drilling two new zones containing significant copper grades that remain undefined and open in extent, and identified several other prospective targets that are also planned for drilling this year.

The Company currently has working capital of approximately $1.7 million.

On behalf of the Board of Directors,

David E Blann, P.Eng., President

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 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.

Contacts: Happy Creek Minerals Ltd. Corporate Office 604.662.8310 Email: info@happycreekminerals.com Website: www.happycreekminerals.com Ascenta Capital Partners Inc. Hugh Oswald Investor Relations 604.684.4743 ext. 243 or Toll free: 1.866.684.4743 ext. 243

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