July 22, 2008 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSXV: HPY) is pleased to announce an update of the 2008
Diamond drilling program on its Rateria copper property in B.C., Canada. The Company's website has recently been updated at
www.happycreekminerals.com/s/Rateria.asp?ReportID=163646 , where additional photos and images from the Rateria project have also been posted.
The Rateria copper property is located 10 kilometres southeast of Teck Cominco's Highland Valley Copper mine, Canada's largest.
Diamond drilling is progressing as planned on the "A" target having dimensions of approximately 1.2 kilometres by 600 metres and over 400 metres in depth. Within the "A" target, widely spaced
Diamond drilling has intersected copper mineralization in five holes, with the amount of mineralization dependant on the degree of fracturing and rock alteration. Currently, hole R08-5 has intersected visual copper mineralization from bedrock to its current depth of approximately 130 metres and is continuing. The alteration and mineralization present in all drill core is consistent with a Highland Valley style copper deposit and felt to be encouraging; however no assay results have been received at this time. This is the second new copper zone discovered on the Rateria property.
Glacial till (overburden) of approximately 20-25 metres in thickness covers the "A" target. To date, drill holes have been up to 500 metres apart and intersected quartz diorite and granodiorite that is cut by dykes of porphyry and aplite composition. Propylitic alteration occurs on the periphery of the "A" target. Towards the centre, potassic and phyllic to argillic alteration occurs. Fractures are filled by variable amounts of chlorite, epidote, quartz, sericite-muscovite, biotite and k-feldspar, and variable concentrations of copper mineralization comprised of dominantly bornite, chalcocite and minor chalcopyrite. Locally, bornite also replaces sericite and dark colored micaceous minerals as minor disseminations. In drill hole R08-5, semi-massive bornite-chalcocite occurs in veins between 5 millimetres up to 30 centimetres in thickness. All drill core is being split for assaying.
In 2005, the first 3D induced polarization (IP) survey covered a portion of the Rateria property, and subsequent
Diamond drilling located Zone 1 with results including 100.0 metres grading 0.285% copper, 37.0 metres grading 0.579% copper and 189.3 metres grading 0.22% copper. The second IP survey in early 2008 expanded on the first, and identified four new targets, including the "A" target, currently being drilled. Happy Creek has now received preliminary results from the third IP survey. In total there are seven targets, and drilling has confirmed that two contain copper mineralization. In addition, recently located outcrop adjacent another one of these new targets contains alteration along with trace bornite and copper oxide (copper mineralization) that is also consistent with a Highland Valley style copper deposit.
The Company will be receiving final geophysical survey and analytical results over the next month, and looks forward to providing additional information as it becomes available.
The Company also wishes to announce that, subject to regulatory acceptance, it has granted a total of 625,000 options to new directors and employees at a price of $0.30 per share and exercisable for a period of three years.
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.On behalf of the Board of Directors,
"David E Blann"____________________
David E Blann, P.Eng.
President