Press release from TheNewswire.ca
Happy Creek completes Geophysical Survey at Silverboss property, B.C.
Wednesday, April 03, 2013
Happy Creek completes Geophysical Survey at Silverboss property, B.C.09:00 EDT Wednesday, April 03, 2013
April 3, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") announces results from the 2012 exploration of its 100% owned Silverboss property, located approximately 85 km (kilometres) northeast of 100 Mile House in South Central British Columbia, Canada. Happy Creek has a 100% interest in 155 square km of mineral claims that surround the former Boss Mountain molybdenum mine property, owned by Xstrata. Boss Mountain was Canada's first primary molybdenum mine. To the northwest and north of the Silverboss property, Gold Fields and Newmont Mining are exploring for copper-molybdenum-gold bulk tonnage deposits.
The Silverboss property is underlain by geology similar to that being explored by the major companies to the north, and also locally comes within 350 metres from the edge of an open pit of the Boss Mountain mine. On the Silverboss, the Company has performed systematic surface soil, silt and rock sampling that has outlined several prospective new targets. The Silverboss Shaft area has returned values of 2.52 percent copper, 6.21 g/t gold, 295 g/t silver and 6.76 g/t indium in grab samples. The Horse Trail zone contains positive values in rock samples ranging from around 0.10 to 1.69% copper, 0.108 to 0.637% molybdenum and 1.03 to 10.0 g/t gold that extend westward from the Boss Mnt mine's open pits.
During 2012, Happy Creek conducted a three dimensional induced polarization (3D IP) and magnetic geophysical survey covering the Silverboss Shaft and Horse Trail prospects. Work was performed by SJ Geophysics of Vancouver, B.C.
At the Silverboss Shaft area, the 3DIP survey has a background chargeability of less than 4.0 milliseconds (ms) and a positive response of 9 to over 15 ms chargeability occurs from the surface of the known mineralized zone to over 300 metres below surface. The positive response extends north and east to the East Breccia showing (1.24 g/t gold and 2.48% copper in grab samples). Overall, the area of positive IP response measures approximately 500 metres by 400 metres in dimension and remains open in extent. These encouraging geophysical targets are overlain at surface with soil and rock samples containing positive values of copper, gold and silver.
At the Horse Trail zone, the 3D IP survey has a background chargeability of less than 4.0 ms. A moderate to very strongly positive response of 9 to over 40 ms extends westward and up to one kilometre from the open pits of the past-producing Boss Mountain mine. The strongest portion of this zone, approximately 650 by 500 metres in dimension corresponds to lower resistivity and occurs around 100 to over 400 metres beneath positive values of copper, molybdenum, gold and silver in quartz veins and soil samples at surface.
The new geophysical surveys have identified and confirmed potential for large scale copper, molybdenum, gold and silver mineralized zones to occur in two areas. These two areas represent only a portion of an overall much larger area containing positive values in rock and soil samples that remain un-surveyed by the IP geophysical method. All targets remain untested by drilling.
Through systematic surface exploration, the Company has developed new exploration targets that are located between an important past-producing mine to the south and two major companies exploring for copper-molybdenum-gold deposits to the north. Further exploration on the Silverboss property is planned to include additional geophysical surveys and a drill program.
On behalf of the Board of Directors,
"David E Blann"
David E Blann, P.Eng.
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
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