Press release from TheNewswire.ca
Happy Creek expects increased activity with a new neighbor on Silverboss property
Friday, March 25, 2011
Happy Creek expects increased activity with a new neighbor on Silverboss property14:00 EDT Friday, March 25, 2011(via Thenewswire.ca) March 25, 2011 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") has learned that NMC Resource Corporation (NMC) is looking to make its first North American acquisition by entering into a Letter of Intent with Xstrata to purchase the former Boss Mountain molybdenum mine, located northeast of 100 Mile House, B.C., Canada (refer to News Release dated March 22, 2011 TSX-V:NRC). NMC is a part of Dong Won Resource Group in South Korea which has been involved in production of iron, gold, coal, oil and gas since 1962. David Blann, President and CEO of Happy Creek states: "Having an existing moly producer from South Korea take an interest in the Boss Mountain mine and Xstrata reserving a significant back-in right, supports our original vision as to the potential value of this and our adjoining Silverboss property. With Goldfields to the northwest and now these companies working next door, this should be the catalyst to draw attention to the area that all along, we've felt it deserved. Our work on the Silverboss has confirmed there is potential for new deposits immediately adjacent the mine property. In addition, Boss Mountain and our Fox tungsten-molybdenum property to the east share positive geological similarities and significant grades that could also play a role in the future of this area." Happy Creek is well financed and planning an aggressive exploration program during 2011 on its 100% owned copper, molybdenum and tungsten properties. About the Silverboss property Happy Creek is the first to acquire a 100% interest in approximately 155 square kilometres of mineral claims that surround the former Boss Mountain molybdenum mine property (27.7 square kilometres) and come within 350 metres from the edge of an open pit. As historical exploration between the 1950's and 1981 was very limited beyond the known deposits, the Company's recent work has confirmed there is a much larger mineralized system than previously known with potential for new deposits to the north and south of the mine property. Systematic exploration by the Company has confirmed molybdenum (up to 0.67% Mo in rock samples) extends onto the Silverboss property and has identified several other areas having potential for new discoveries of molybdenum, copper, gold and silver. About the Fox property The Company also has a 100% interest in the Fox property that consists of approximately 138 square kilometres of mineral claims located approximately 25 kilometres to the east of the Boss Mountain molybdenum mine. Here, the Company has identified a tungsten-molybdenum system that is 10 kilometres by 3 kilometres in dimension, locally containing high grades of tungsten (up to 7% W03) and molybdenum (up to 12% Mo). The Fox is a relatively new and early stage property thought to represent a significant new tungsten-molybdenum discovery in western Canada. 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. FOR FURTHER INFORMATION PLEASE CONTACT: David Blann, President, CEO Corporate Office: Phone: 604.662.8310 Email: Info@happycreekminerals.com Website: www.happycreekminerals.com Investor Relations: James Berard Phone: 604-687-2768 Toll free: 1-877-459-5507 Copyright (c) 2011 Thenewswire.ca - All rights reserved.