Press release from TheNewswire.ca
Happy Creek Minerals drilling continues to expand Zone 2, Highland Valley, B.C.
Friday, June 04, 2010
Happy Creek Minerals drilling continues to expand Zone 2, Highland Valley, B.C. 01:00 EDT Friday, June 04, 2010(via Thenewswire.ca) June 4, 2010 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") announces preliminary analytical results from its first drill hole and that the overall area of Zone 2 mineralization has been expanded significantly to the northeast and east. The Rateria property adjoins the property of Teck's Highland Valley copper mine, Canada's largest copper producer, located in south central British Columbia. The Highland Valley mine is currently mining material averaging approximately 0.30% copper. Results from the first hole (R10-1) includes 37.5 metres grading 0.20% copper, 15.0 metres grading 0.21% copper and 5.0 metres grading 0.35% copper. Positive rhenium values were also obtained including 5.0 metres containing 0.49% copper, 0.015% molybdenum, and 2.25 g/t (grams per tonne) rhenium. This hole was drilled towards the east at -55 degrees from the collar of R09-06 (-65 degrees to the west) that returned 18.5 metres grading 0.20% copper, 0.048% molybdenum and 3.53 g/t rhenium. Rhenium is a rare metal with prices ranging from approximately $5.0 to $10.0 per gram over the past few years. Drilling is continuing to expand mineralization in Zone 2, located approximately 6 kilometres trucking distance southeast of Teck's Highmont deposits that are currently in production. Hole R10-5, R10-9 and R10-7 are located approximately 300 and 450 metres north-northeast and 400 metres east of R10-1, respectively, and have intersected additional copper mineralization of interest. R10-2 and R10-3 that are located approximately 500 metres northwest and west respectively, of R10-1 contain important geological information. Analytical results for the remainder of drill holes from Zone 2, R10-4 to R10-9 are pending. In total approximately 2,000 metres of a planned 5,000 metre program were drilled around Zone 2. The drill is now being moved to Zone 1. David Blann, President of Happy Creek states "This phase of drilling in Zone 2 has expanded the overall mineralized system considerably. Zone 2 is now over 900 metres in length and potentially up to 400 metres in width and remains open in extent. We need to catch up on assays and review the geology and geophysics. Having a much larger mineralized system is a positive step, and it will require additional drilling". Mineralization in Zone 2 is comprised of dominantly bornite, chalcocite, and minor chalcopyrite (copper sulphides) associated with quartz, k-feldspar and moderate to intense chlorite and sericite alteration and occurs near the northeastern end of a "corridor" that is over 5 kilometres in length. Multiple and locally strongly mineralized structures have been traced by drilling for approximately 900 metres in a north-northeast trend and generally range from approximately 50 to over 150 metres wide. However mineralization of interest also occurs to a final depth of 291.0 metres in R10-7, a 400 metre step out to the east of R10-1, with no drilling in between. Previous drill results from Zone 2 include 177 metres grading 0.37% copper, and 103.3 metres grading 0.34% copper. Higher grade intervals include 27.0 metres grading 1.1% copper and 12.0 metres containing 1.38% copper, 2.85 g/t rhenium. Drilling of 5 or 6 holes in Zone 1, located southwest of Zone 2, will commence immediately and is designed to define and expand on previous results including 100.0 metres grading 0.29% copper, 37.0 metres grading 0.58% copper and 189.3 metres grading 0.22% copper. Higher grade intervals include 5.4 metres grading 2.5% copper. Several holes ended in mineralization or a porphyry dyke. This zone contains copper mineralization associated with strong sericite-muscovite alteration within the quartz rich, younger phases of the productive Guichon Batholith- similar to the giant Lornex and Valley deposits being mined to the north west. On behalf of the Board of Directors, "David E Blann" ____________________ 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. These preliminary analyses were performed by Agat Laboratories of Ontario using a geochemical aqua regia digest and ICP-MS finish. Aqua regia digest may be partial for molybdenum and rhenium. Results for copper, molybdenum, silver and rhenium are provided by Agat in PPM (parts per million or grams per tonne), with copper and molybdenum values converted to % by dividing by 10,000. Rhenium prices from Minor Metals.com. FOR FURTHER INFORMATION PLEASE CONTACT: Corporate Office: Phone: 604.662.8310 Email: Info@happycreekminerals.com Website: www.happycreekminerals.com Investor Relations:James Berard and Aaron KonkinPhone: 604-687-2767Toll free: 1-877-459-5507 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. This News Release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the Company's Prospectus, Financial Statements MD&A and Public Filings located on SEDAR. Copyright (c) 2010 Thenewswire.ca - All rights reserved.