November 28, 2008 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V: HPY, the "Company") is pleased to announce rock sampling results from work conducted on its 100% owned Fox tungsten-molybdenum property, in south central British Columbia, Canada. This recent tungsten-molybdenum discovery is located approximately 15 kilometres from industrial scale power, and less than an hour's drive from the nearest populated and serviced centre (see news release dated February 21, 2008). It is also located approximately 25 kilometres east of the past producing Boss Mountain molybdenum mine. The Company feels the Fox property holds the immediate potential to generate a large tungsten and molybdenum resource.
At the Nightcrawler zone, drilling in 2007 confirmed a large scale tungsten-molybdenum system (carbonate layers in rock converted to calc silicate and skarn) that is approximately 1.5 kilometres by 500 metres in dimension. The first-ever, widely spaced drilling returned several potentially economic intercepts including 5.0 metres of 0.33% W03 (tungsten trioxide), 2.0 metres of 0.74% W03, and 1.7 metres of 0.51% molybdenum. On surface, blocks of this material have returned up to 12.778% molybdenum and 5.65% W03.
The 2008 exploration of the Ridley Creek area, located approximately four kilometres north of the Nightcrawler zone, comprised geology, prospecting and silt and soil geochemical surveys that detailed and expanded upon the positive 2007 soil and rock results.
2008 Rock Sample Results
| Width(M) |
W % |
W0 3 % |
Zone |
Width(M) |
W % |
W0 3 % |
Zone |
| 1.00 |
1.17 |
1.47 |
Black |
2.50 |
0.58 |
0.73 |
Ridley |
| 0.50 |
2.56 |
3.23 |
Black |
1.00 |
5.81 |
7.32 |
Ridley |
| grab |
1.04 |
1.31 |
Black |
grab |
0.07 |
0.09 |
Ridley |
| grab |
0.87 |
1.10 |
Black |
0.25 |
1.56 |
1.97 |
Blann-2007 |
| 1.00 |
1.27 |
1.60 |
Black |
0.20 |
0.17 |
0.21 |
Blann-2007 |
| 1.00 |
0.38 |
0.48 |
Black |
0.25 |
4.08 |
5.13 |
Blann-2007 |
| 1.00 |
2.93 |
3.70 |
Black |
0.20 |
1.89 |
2.39 |
Blann-2007 |
| 0.18 |
2.34 |
2.94 |
Black |
0.25 |
5.64 |
7.11 |
Blann-2007 |
| 1.30 |
0.86 |
1.09 |
Ridley |
0.20 |
5.14 |
6.47 |
Blann-2007 |
| 3.50 |
2.03 |
2.56 |
Ridley |
|
|
|
|
Current prices for *W03 are around $11.50 us/lb and 1.0% W03 contains 22 lbs W03 per tonne.
"We are pleased with the continuing low-cost exploration success being made on our Fox property. The overall size of the mineralized system continues to grow, along with our knowledge of the geology, continuity and controls to the high grade skarn zones" states David Blann, President and CEO. "It is becoming more apparent that the Fox property, although still at a relatively early stage, is a significant new tungsten-molybdenum prospect in western Canada."
Twenty one rock samples were obtained with fourteen samples focused on two showings called the Ridley and Black that are approximately one and two kilometres north, respectively, of the mineralized outcrops discovered last year. These three zones comprise a part of a "calc silicate package" approximately 100 metres in thickness and two kilometres in length, and have a gentle to moderate west dip. All widths are apparent, although believed to be near true width, and mineralization remains open in width beneath talus and vegetation. Values of 0.10 to 0.21 g/t gold along with variable concentrations of zinc, copper and bismuth are common in samples containing over 1.0% tungsten.
On the Fox property, widespread rock samples have returned trace to significant tungsten values within an area approximately ten kilometres by three kilometres in dimension. This area is centred by a light colored intrusion and associated quartz, sericite/muscovite and k-feldspar-rich dykes and sills that are very close in age to the intrusion responsible for mineralization at the nearby past producing Boss Mountain molybdenum mine. Boss Mountain was mined for molybdenum, with tungsten apparently too low grade to recover during mining. The Company believes that the host rocks around the intrusion at the Boss Mountain mine were not favorable to deposit tungsten effectively, and on the Fox property, they are; carbonate-rich sediments and limestone have developed into a large scale calc- silicate and skarn package that contains significant tungsten and molybdenum.
In addition to tungsten, rock sampling in 2008 also returned up to 0.19% molybdenum from quartz veins within the quartz monzonite intrusion. Tungsten, and the presence of molybdenum in quartz veins within an intrusion very similar in age to the Boss Mountain, supports the Company's view that a porphyry style bulk tonnage molybdenum-tungsten deposit is responsible for the mineralization.
The proximity to resource-based infrastructure and local labour are important economic factors that allow a lower cost of exploration, development and production. The presence of high tungsten and molybdenum grades in skarn at or near surface and the large areal extent of this mineralization are believed due to a large porphyry tungsten-molybdenum system that may be similar to the nearby Boss Mountain mine. The Company considers the Fox property to be a quality exploration prospect on a global scale and is ready for rapid development by drilling.
*Tungsten market prices (as at November 15th 2008) are based on contained W03 that is 1.26 times the total tungsten (W).
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. Rock samples were analyzed by Acme Analytical Laboratories of Vancouver, B.C. by peroxide fusion for total tungsten (W).
On behalf of the Board of Directors,
"David E Blann"____________________
David E Blann, P.Eng.
President