Happy Creek provides update on the Silver Dollar property
July 11, 2018 (Source) — Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce that it has received the final option payments from Explorex Resources Ltd (“Explorex”) for the Silver Dollar Property, located approximately 45 kilometres southeast of Revelstoke, B.C.
Under the terms of the Option Agreement announced May 12, 2016, with amendments in 2016 and again April 21,2017, Explorex has spent a minimum $100,000 on the property, paid $20,000 in cash and issued a total of 1.1 million Explorex shares to the Company. Explorex has now earned a 100% interest in the Silver Dollar property, subject to Happy Creek retaining a 1% NSR.
David Blann, P.Eng., President of Happy Creek Minerals states: “We are pleased to see the terms of the agreement accelerated by Explorex. There are several prospects with historical production, shallow drilling and surface results containing high gold, silver and lead-zinc grades. Exploration activity in the district is on-going by several companies and we look forward to further developments from the Silver Dollar property.”
About the Silver Dollar property
The Silver Dollar project is 3,160 hectares (31.6 square kilometres) in area and it is situated within the historical Camborne mining camp dating from around the early 1900’s. A number of mineral showings and past-producing gold-silver-lead-zinc, and gold-silver prospects are in spatial proximity to the Camborne fault and occur over approximately twelve (12) kilometres.
In 1984, a drill hole on the Silver Dollar zone returned 2.10 metres grading 229.0 g/t silver, 1.0 g/t gram per tonne gold, 10.95 per cent zinc, 4.04 per cent lead and 0.29 per cent copper. Initial due diligence by Happy Creek in 2013 returned samples containing 50.30 g/t gold, 216 g/t silver and 4.49 g/t gold, 4496 g/t silver. Important base metal results include a1.8 metre chip sample returning 16.8% zinc, 3.9% lead, 1.67 g/t gold and 241.0 g/t silver. These results have largely confirmed those found within historical reports.
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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.
This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral projects. Forward-looking information may be, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “planned”, “continue”, “expect”, “thought to”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “opportunity”, “further” and others, or which describes a goal or action, event or result such as “may”, “should”, “could”, “would”, “might” or “will” be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Happy creek’s ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Happy creek and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at www.sedar.com. Although Happy creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Happy creek withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.
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