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Enter Symbol
or Name
USA
CA



Happy Creek Minerals Ltd
Symbol HPY
Shares Issued 92,318,976
Close 2018-03-28 C$ 0.20
Market Cap C$ 18,463,795
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Happy Creek adds 330 ha of mineral claims at Rateria

2018-04-03 11:05 ET - News Release

Mr. David Blann reports

HAPPY CREEK ADDS 330 HA TO THE RATERIA COPPER PROPERTY, HIGHLAND VALLEY, B.C.

Happy Creek Minerals Ltd. has added 330 hectares of mineral claims at its 100-per-cent-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-per-cent interest in mineral claim tenures that cover 330 hectares and located approximately 20 kilometres 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 kilometres 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 Aug. 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 five metres of 4.4 per cent copper that is approximately 200 metres east of Zone 2 and drill hole R17-05 with 105.5 metres of 0.37 per cent copper, 0.14 gram per tonne gold, 1.9 g/t silver and 0.63 g/t rhenium that expands Zone 2 approximately 100 metres to the south. A 46-metre interval returned 0.64 per cent copper, 0.30 g/t gold, 0.009 per cent 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 Feb. 8, 2018, the company announced drill hole R17-08 returned 82.5 metres of 0.29 per cent copper and 66 metres of 0.35 per cent copper with the hole ending in 2.5 metres of 0.14 per cent 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.

The combined 237-square-kilometre 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 underexplored 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.

We seek Safe Harbor.

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