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Happy Creek drills 102.5 metres of 0.43% copper, 2.9 g/t silver and 0.11 g/t rhenium in Highland Valley, B.C.

Monday, October 17, 2011

Happy Creek drills 102.5 metres of 0.43% copper, 2.9 g/t silver and 0.11 g/t rhenium in Highland Valley, B.C. 07:01 EDT Monday, October 17, 2011(via Thenewswire.ca) October 17, 2011 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the "Company") announces additional drill results from its on-going exploration on the Rateria property, Highland Valley district, British Columbia (B.C.), Canada. The Company has a 100% interest in approximately 145 square kilometres of mineral claims that adjoin Teck's Highland Valley Copper (HVC) mine property, Canada's largest copper producer, located in south central B.C. Over 1.8 billion tonnes of resources in five deposits have been discovered in the Highland Valley district. HVC is currently mining material with an average grade of around 0.26% copper. Happy Creek has discovered Zone 1 and Zone 2 on the Rateria property, located approximately 6.5 kilometres south-southeast of Teck's Highmont mine. Previous highlights of drilling in Zone 1 include R10-12 with120.0 metres of 0.38% copper starting at surface, R11-1 with 95.0 metres of 0.67% copper, 3.6 g/t (grams per tonne) silver and R11-8 with 250.0 metres of 0.25% copper. Zone 2 is located approximately 2 kilometres to the northeast where drilling has returned 126.0 metres of 0.46% copper, 0.008% molybdenum and 0.10 g/t gold, as well as 38.2 metres of 2.14 g/t and locally up to 19.0 g/t rhenium occurs. New results from Zone 1 include drill hole R11-11 with 102.5 metres of 0.43% copper, 2.9 g/t silver, 0.005% molybdenum and 0.11 g/t rhenium, within an overall mineralized interval of 242.5 metres containing 0.25% copper that starts at 197.5 metres. R11-11 cut Zone 1 starting approximately 100 metres vertically below R07-10 containing 124 metres of 0.14% copper. In addition, R11-11 contains 2.5 metre intervals of up to 0.10% molybdenum and 1.56 g/t rhenium. David Blann, President and CEO of Happy Creek states: "R11-11 is another drill hole in Zone 1 that indicates higher grade can occur beneath near surface mineralization, and is positive for Zone 1 and the blue sky potential of this project. This drill hole also returned positive values of rhenium, something we have generally found more of in Zone 2 and is thought to be significant. In a district hosting Canada's largest copper producer, we have discovered two significant new copper zones and look forward to continuing exploration of this highly prospective project". Drill hole R11-12 is located at the collar of R11-09, approximately 800 metres west of R11-11. The hole was drilled to the east and intersected fairly continuous trace levels of chalcocite, bornite and chalcopyrite (copper sulphides) and sections contain up to 7.5 metres of 0.20% copper, 1.5 g/t silver. Geochemical levels of molybdenum are apparent to the end of the hole at 235.0 metres. Together, R11-9 (drilled to the west- refer to News Release dated September 19, 2011) and R11-12 cover approximately 200 metres with positive alteration and geochemically positive copper values that remain open in extent. This area may reflect part of the South Yubet and Copper Creek targets, potentially forming another northerly trending mineralized structure of over two kilometres. It may also be the western part of the Zone 1 mineral system. It appears there is a large and potentially productive mineral system around Zone 1 and excellent opportunity for additional mineralized zones to be discovered. Approximately 7 to 12 metres of glacial till covers Zone 1. Copper and associated silver values occur with predominantly chalcocite, bornite and minor chalcopyrite. Pyrite (iron sulphide) is rare. Molybdenite in Zone 1 to date is generally very low however R11-11 indicates molybdenum and associated rhenium does occur. Rhenium is a rare metal used to strengthen steel for applications such as the new, fuel efficient jet turbine engines, and has prices ranging from around $4 to $9 per gram. Zone 1 is within a northerly trending structure that is parallel to the Lornex fault to the west, and is hosted by the younger Bethsaida or Skeena phases of the Guichon batholith. This geological setting appears similar to the deposits currently in production to the north. However, the predominance of chalcocite (a sulphide mineral comprised of 79% copper) in Zone 1 to 400 metres depth is thought to be somewhat different than other Highland Valley deposits and has positive implications for further exploration of the property. The Company also announces that geological and geophysical surveys have been completed on the BX property, located approximately six kilometres northeast of Teck's past producing Bethlehem mine and results are pending. 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. Preliminary analyses are performed by certified AGAT Laboratories using a geochemical aqua regia digest and ICP-MS finish, and results for copper, silver, molybdenum and rhenium are provided in PPM (parts per million or grams per tonne), with values converted to percent by dividing by 10,000. Samples greater than 5,000 ppm copper are automatically re-run with a larger pulp sample, aqua regia digest and Atomic Absorption Spectrophotometer (AA) finish. AA results are provided in % (percent) copper. Quality control protocol includes on-site pick up of samples by the laboratory, routine insertion of blanks, standards and duplicates in addition to the laboratory internal controls. 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 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. Copyright (c) 2011 Thenewswire.ca - All rights reserved.