Happy Creek Minerals Ltd

Published : January 12th, 2009

drills 177.0 metres of 0.366% copper at the Rateria Property, Highland Valley, B.C.

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Happy Creek drills 177.0 metres of 0.366% copper at the Rateria Property, Highland Valley, B.C.

January 12, 2009 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") is pleased to provide an update on the final 2008 exploration results from its 100% owned Rateria Copper property, located approximately 10 kilometres southeast of Teck Cominco's Highland Valley copper mine, in south central British Columbia, Canada. During 2008, the Company completed nine drill holes and conducted field geology, silt sampling and a 3D induced polarization (3D IP) and magnetic survey covering the majority of the Rateria property. Happy Creek now reports additional drilling, IP and surface rock sample results.

Drilling Results
Drilling in 2008 has confirmed that the "A" target, identified by the spring 3D IP survey, contains significant copper mineralization including 27.0 metres grading 1.05% copper, 0.019% molybdenum, 5.0 g/t (grams per tonne) silver, and 0.24 g/t gold in R08-05. Approximately 1.2 kilometres further southwest in R08-06, 334.7 metres of 0.071% copper was intersected. The Company believes the A zone is part of a potentially mineralized corridor that is over five kilometres in length.


Total

From

To

Width

Cu

Mo

Ag

Au

Hole

Depth (m)

(m)

(m)

(m)

%

%

(g/t)

(g/t)










*R08-01

374.0

169.75

273.0

103.25

0.335




 

incl

231.5

249.0

17.5

1.117

0.005

5.5

0.02

 









*R08-05

313.0

38.0

215.0

177.0

0.366





incl

95.0

122.0

27.0

1.051

0.019

5.0

0.24

 









R08-06

416.7

82.0

416.7

334.7

0.071













R08-09

346.6

192.0

306.0

114.0

0.090













"Happy Creek has discovered another new zone returning grades that are comparable to those currently being mined at Highland Valley (0.31% copper) and this zone remains undefined and open in extent." stated David Blann, President of Happy Creek. "And we have identified a very large mineralized system having characteristics to host several good deposits".

Drill hole R08-05 is located approximately 200 metres south of R08-01 and R08-03 (*see press release dated September 16th 2008, with additional assays reported here) and together define the central portion of a mineralized corridor that remains open in extent to the south-southwest and northeast. R08-03, collared at R08-01 and drilled in the opposite direction, intersected up to 1.65 metres containing 0.292% copper at the bottom of the hole. In R08-01 and R08-05, three metre intervals containing 1.48 g/t gold, 0.657% copper and 0.88 g/t gold, 13.0 g/t silver and 3.417% copper, respectively, suggest precious metals are positive additions to the potential value of the mineralization.

Drill holes R08-06 and R08-09 are located approximately 1,200 and 400 metres southwest of R08-05, respectively. In R08-06, continuous weak to moderately strong pervasive and fracture controlled k-feldspar, quartz, sericite and argillic alteration is present.  Together with 334.7 metres grading 0.071% copper, including 0.158% copper over 3.0 metres at the bottom of the hole, it is thought to reflect the margins of a typical porphyry copper system.

Drill holes R08-02, R08-07 and R08-08 were located approximately 500 metres west of R08-05, and beyond the mineralized corridor, however they did intersect geochemically positive copper values. All holes were drilled at an angle between 55-70 degrees either to the west or east, and glacial till varies from approximately 10 to 20 metres in thickness. Drilling was conducted to test several different geophysical parameters within and surrounding the "A" target, and resulted in a better understanding of geological controls to mineralization.

Rock Sample Results
Recent and on-going mechanized logging-related activity relating to the pine beetle epidemic has exposed several small outcrops within the projected mineralized corridor, with most containing traces to significant copper mineralization.

An outcrop sample located approximately 350 metres south-southwest of drill hole R08-05 returned up to 1.58% copper, 9.0 g/t silver and 0.25 g/t gold. The comparable nature of alteration, mineralization and its location from R08-01 and R08-05, suggests the A zone is over 550 metres in length and remains undefined and open in extent.

Approximately 1.2 kilometres northeast of R08-05, an outcrop returned 2.746% copper, 13.0 g/t silver over 1.2 metres.

Approximately 1.8 and 3.0 kilometres southwest of R08-05, up to 0.20 metres of 13.171 % copper, 71 g/t silver in outcrop and 9.712% copper, 29.0 g/t silver in boulders, occur at the Three Creeks and Moss 4 prospects, respectively.

At the Sho prospect, located approximately 6.0 kilometres south of R08-05, a 15 metre long segment of an extensive shear zone averaged 1.487% copper and 8.4 g/t silver over 4.12 metres in width, and a further 400 metres south, a grab sample returned over 1.0% copper, 8.16 g/t silver and 0.10 g/t gold.

All mineralized zones described above display similar geological and geophysical characteristics and remain undefined and open in extent. In consideration that over 95% of the property is covered by glacial till, the Company feels the frequency and locally high grade nature of these occurrences within a definable corridor that extends for over five kilometres is particularly encouraging. 

2008 3D Induced Polarization and Magnetic Survey Results
The 2008 3D IP and magnetic survey results in conjunction with surface samples, drilling and geological mapping support the interpretation of a wide fault, or "corridor", extending between the A zone and through the Moss 4 prospect, a distance of over 5.0 kilometres.  The Moss 4 prospect is defined by a 3D IP anomaly approximately 1.4 kilometres in length and 800 metres in width having geophysical features comparable to the A zone. In this area, rare outcrops contain positive geology and alteration along with boulders up to 9.712% copper, 29.0 g/t silver, and this target remains untested by drilling.  The expanded 2008 IP geophysical survey has also identified four new targets, including two that are entirely within rocks that host the Valley deposit to the northwest, and remain untested by drilling.

Geological Interpretation
The five kilometre corridor is interpreted to comprise the district scale contact between two dominant phases of the Guichon batholith. Intrusive rocks include eight distinct phases that are quartz diorite, granodiorite and quartz monzonite in composition and medium to coarse grained and locally porphyritic in texture. These rocks are cut by fine grained, porphyritic dikes and sills of quartz and k-feldspar rich composition.  In proximity with the major geological contacts, a large scale, northerly trending fault zone, or "corridor" occurs.  Similarly, the northerly trending Lornex Fault is located approximately five kilometres to the west and is considered an important feature of the giant Lornex and Valley deposits currently being mined by Teck.

On the Rateria property, mineralized quartz veins and fractures dip gently to steeply, are sheeted to cross-cutting and contain, or are enveloped by, quartz, k-feldspar, biotite, chlorite, epidote, carbonate, sericite/muscovite, hematite and kaolin/clay alteration minerals. Quartz veins from 1.0 millimetre to 0.50 metres in thickness have several textures and contain dominantly bornite and chalcocite (copper sulphides) to depths over 300 metres, with trace molybdenite (molybdenum sulphide) appearing within and near the margins of the zone. Chalcopyrite (copper sulphide) occurs in minor amounts locally within or on the fringe of the previously drilled Zone 1 and the A zone, however, in other areas of the property, it can be more common. Several forms of hematite and other iron oxides occur within and peripheral to the mineralized zones, and minor copper oxide and very minor amounts of pyrite (iron sulphide) occur.

The geology, alteration and mineralization on the Rateria property are interpreted to be consistent with a deeper-seated porphyry copper system and share similarities with other deposits in the Highland Valley.

About the Rateria Property
The Company's 100% owned Highland Valley property now totals almost 13,000 hectares (130 square kilometres) on the southern side of the productive Guichon Batholith. Recently acquired properties contain documented copper prospects and prospective geology thought to be similar to the Rateria, as well as being extensively covered by glacial till that created historical exploration difficulties. Using newer technology and a persistent exploration approach, the Company's goal is to discover new deposits that are viable economic alternatives for the future of this world class mining district in British Columbia, Canada.

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. All drill core was logged, split and sampled at a secure core facility.  On-site personnel collect and track samples that are sealed and shipped to Acme Analytical Laboratories Ltd. in Vancouver, British Columbia.  Acme's quality control system complies with the requirements for the international standards ISO 9001:2000.  Analytical accuracy and precision are monitored at the laboratory by the analysis of reagent blanks, reference material and replicate samples.  Quality control is further assured by the use of international and in-house standards.  Blind certified reference material is inserted at regular intervals into the sample sequence by on site personnel in order to independently assess analytical accuracy. Gold results are by ICP-MS for drill hole R08-01 and by fire assay for R08-05.

On behalf of the Board of Directors,

"David E Blann"

____________________

David E Blann, P.Eng.
President

 
FOR FURTHER INFORMATION PLEASE CONTACT: 

Corporate Office:
David Blann, President
Phone: 604.662.8310
Email: info@happycreekminerals.com


Investor Relations:
Hugh Oswald, Ascenta Capital Partners Inc.
Phone: 604.684.4743 ext. 243
Toll free: 1.866.684.4743 ext. 243
Email: hugh@ascentacapital.com

This news release has neither been approved nor disapproved by the TSX Venture Exchange. The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of the contents of this news release. This news release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the company's prospectus and public filings located on SEDAR.

 



Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada

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Happy Creek Minerals Ltd

EXPLORATION STAGE
CODE : HPY.V
ISIN : CA4113831024
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Happy Creek Min. is a silver and gold exploration company based in Canada.

Its main exploration properties are HAWK, WEST VALLEY and FOX in Canada.

Happy Creek Min. is listed in Canada. Its market capitalisation is CA$ 3.6 millions as of today (US$ 2.9 millions, € 2.5 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.34, and its lowest recent point on December 24, 2008 at CA$ 0.04.

Happy Creek Min. has 79 240 000 shares outstanding.

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Nominations of Happy Creek Minerals Ltd
7/8/2009appoints Mr. Charles Chebry as Chief Financial Officer
2/28/2008Appoints Brian Welwood as Director and Chief Financial Offic...
Project news of Happy Creek Minerals Ltd
10/1/2009(Hen)Provides an Update on its Hen Property, B.C.
9/22/2009(Rateria)Announces Drilling is Underway on the Rateria Copper Propert...
8/19/2009(Art-dl)commences exploration on its Highland Valley and Cariboo pro...
6/23/2009(Silverboss)provides additional results from its Silverboss property, B....
6/11/2009(Fox)Provides Additional Results From The Fox Tungsten Molybdenum...
2/24/2009(Art-dl)identifies new gold targets on its Art-DL property, B.C.
2/5/2009(Hen)provides an update on its Hen property, B.C.
1/12/2009(Rateria)drills 177.0 metres of 0.366% copper at the Rateria Property...
12/22/2008(Silverboss)Acquires Mineral Claims Adjoining its Silverboss Property
11/28/2008(Fox)Finds 1.0 Metre of 5.81% Tungsten on Surface at the Fox Prop...
9/16/2008(Rateria)Drills 42.0 metres Grading 0.865% Copper at Rateria Property...
9/12/2008(Rateria)on the Rateria Property, Highland Valley, B.C.
8/5/2008(Rateria)Correction: Happy Creek Completes Option -- Now Owns 100% of...
8/5/2008(Rateria)Completes Option -- Now Owns 100% of Rateria Copper Property
7/22/2008(Rateria)Provides a Drilling Update on the Rateria Copper Property
6/23/2008(Rateria)Commences Drilling on the Rateria Property, Highland Valley,...
3/12/2008(Rateria) Drills 10.35 metres of 1.545% Copper at Rateria Property
3/11/2008(Fox) Intercepts 5.0 metres of 0.33% W03 (Tungsten Trioxide) on F...
2/26/2008(Rateria)Drilling Confirms New Large-Scale Tungsten-Moly System on Fo...
2/21/2008(Fox) Drilling Confirms New Large-Scale Tungsten-Moly System on F...
Corporate news of Happy Creek Minerals Ltd
7/13/2016Happy Creek Announces a Private Placement Financing
6/6/2016Happy Creek finds new tungsten zone on Fox property
5/29/2016Happy Creek to update Fox NI43-101 with new metallurgy resul...
1/4/2016Happy Creek samples 3.56% W03 and expands high grade BK zone...
4/23/2013Happy Creek April 15/13 Article
7/27/2012Happy Creek
1/13/2012Happy Creek News Release and IP images of tungsten deposit.
11/28/2011Happy Creek News Release
11/13/2009Expands Zone 2 in 2009 Highland Valley Drill Program
1/22/2009provides an update on the Hawk Copper-Gold Silver Prospect i...
1/21/2009at 2009 Vancouver Cambridge Conference
5/1/2008Shareholder Letter - May 1, 2008
4/1/2008Provides a Review and Update of Projects and its Plans for 2...
3/31/2008at 2008 Kamloops Explorations Group (KEG) Conference
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