Happy Creek adds 330 Ha to the Rateria copper property, Highland Valley, B.C.
April 3, 2018 (Source) — Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) announces that it has added 330 hectares of mineral claims at its 100% owned Rateria copper property in the Highland Valley, B.C., Canada.
The Company has entered into a purchase and sale agreement with an arm’s length vendor to acquire a 100% interest in mineral claim tenures that cover 330 hectares and located approximately 20 km northeast of Lower Nicola in the province of British Columbia, Canada. In total, the Company paid $10,000 in cash to the vendor.
The mineral claims acquired is a block located within existing tenures of the Company’s Rateria copper property. The new claims are mostly covered by glacial till however the underlying geology includes Bethsaida, Skeena and Bethlehem phases of the Guichon Batholith in proximity with an east-west trending fault. This lithology is part of the younger phases of the batholith thought to be more closely related to the timing of porphyry copper formation and hosts the currently operating mines in the Highland Valley district. Historical information for this newly acquired area is currently being added to the Company’s database.
About the Rateria and West Valley property
The Company has assembled approximately 237.8 square km of mineral tenure that adjoin and surround the southern end of the Highland Valley Copper property of Teck Resources, Canada’s largest base metal mine.
On August 29, 2017, the Company announced results from Zone 2, located 6.5 km southeast of the Highmont open pit. Results include drill hole R17-02 with 5.0 metres of 4.4% copper that is approximately 200 metres east of Zone 2 and drill hole R17-05 with 105.5 metres of 0.37% copper, 0.14 g/t gold, 1.9 g/t silver and 0.63 g/t rhenium that expands Zone 2 approximately 100 metres to the south. A 46.0 metre interval returned 0.64% copper, 0.30 g/t gold, 0.009% molybdenum and 1.16 g/t rhenium. Rhenium is a rare metal used in metal alloys for high-tech applications such as jet engine or gas turbine blades. On February 8, 2018 the Company announced drill hole R17-08 returned 82.5 metres of 0.29% copper and 66 metres of 0.35% copper with the hole ending in 2.5 metres of 0.14% copper. Zone 2 contains high rhenium enrichment in molybdenite as well as positive gold that are consistent with a copper-gold mineral system and it remains open.
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The combined 237 Km2 Rateria and West Valley property contains the newly discovered Zone 1 and Zone 2 deposits which have returned copper grades in drill holes that are consistent with other producing deposits in the district. There are at least 25 other copper prospects that remain under-explored and overall, the property is thought to be a quality copper exploration asset in a district where four porphyry copper deposits and one copper skarn have achieved commercial production.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
Neither the 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 news release. 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. Readers are cautioned that results or information from an adjoining property do not infer that similar results will occur on the subject property.
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