Happy Creek Minerals Ltd.

Happy Creek Minerals Ltd.

June 23, 2009 09:30 ET

Happy Creek Provides Additional Results From Its Silverboss Property, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2009) - Happy Creek Minerals Ltd. (TSX VENTURE:HPY) (the "Company") is pleased to announce additional exploration results from its Silverboss property, located northeast of 100 Mile House, in south-central British Columbia, Canada. Happy Creek has a 100% interest in over 100 square kilometres of mineral claims around the former Boss Mountain molybdenum mine that is currently owned by Xstrata Plc. Boss Mountain was a combined open pit and underground operation with an average recovered grade of approximately 0.20% molybdenum. It closed in 1983 when molybdenum prices were around $3.00/lb, and historical exploration beyond the known deposits was limited.

In 2005 a high quality airborne geophysical survey identified a prospective area approximately 9.5 by 2.5 kilometres in dimension that includes the known molybdenum deposits and their potential extensions onto the Silverboss property. Adjacent the north and west side of the Boss Mountain mine property, exploration by the Company between 2006 and 2007 outlined a zone approximately three kilometres by 500 metres in dimension that contains positive values of molybdenum, copper and tungsten in soil and rock samples. Outcropping rock samples contain trace up to 0.637% molybdenum within this geochemical anomaly and together are thought to reflect potential for a much larger mineralized system than previously known.


During 2008 the Company expanded to the north, west and south, previous soil geochemical surveys with lines 200 metres apart and samples collected every 50 metres. A total of 598 soil, 43 stream sediment and 20 rock samples were analyzed.

Results from the 2008 soil and rock geochemical surveys returned positive values of molybdenum, tungsten, copper, gold and silver within and beyond previous surveys.

Positive molybdenum soil anomalies are greater than 90th percentile, or 15 ppm (parts per million) to 349 ppm molybdenum. New anomalies located one kilometre west and adjacent the south side of the mine property are approximately 200 by 400 metres and 600 by 150 metres in dimension, respectively. These anomalies are associated with positive tungsten, bismuth and locally copper, gold and silver values and remain open in extent.

Gold and silver values from soil and rock sampling in 2008 confirm and expand previously identified potential for a large scale gold-silver system that comprises the upper Horse Trail, Dogtooth, East Breccia and Silverboss prospects, an area that is overall approximately 1.65 by 1.2 kilometres in dimension. Near the East Breccia sampling in 2008 returned up to 1.69 g/t (grams per tonne) gold and 4.0 g/t silver in soil, and 0.72 g/t gold, 7.9 g/t silver in narrow quartz veins. The soil and rock samples contain up to 9.1 and 90.3 ppm bismuth, respectively, and other quartz veins nearby have previously returned up to 1.7 g/t gold. The Dogtooth zone is located approximately 750 metres to the southwest where similar quartz veins contain 0.02 to 5.82 g/t gold and locally up to 53.0 g/t gold and 343.0 g/t silver. The historical Silverboss zone is approximately 350 metres in length and previous sampling has returned 0.25 metres grading 9.41 g/t gold, 514.8 g/t silver.

Soil and rock sampling in 2008 on the South Ridge prospect returned up to 0.10 g/t gold, 3.7 g/t silver in soil and 0.20 g/t gold, 4.8 g/t silver in narrow quartz veins, respectively. Other quartz veins in this area have previously returned 7.26 g/t gold, 140.0 g/t silver and 10.0 g/t gold with greater than 100 g/t silver. These veins also contain variable concentrations of bismuth, copper, tungsten and molybdenum and the geology appears similar to the upper Horse Trail and East Breccia gold-silver zones described above.

A new and positive copper anomaly was obtained in soil samples located north of 10 Mile Creek. Values of greater than 90th percentile (112.2 to 404 ppm copper) are considered positive and scattered values up to 0.26 g/t gold and 1.3 g/t silver occur in soil. This area of interest is approximately 1.2 kilometres by 600 metres in dimension and remains open in extent to the north. Approximately two kilometres further north of this area, a small soil geochemical survey performed in 1970 returned positive values up to 420 ppm copper and 3.0 ppm silver (gold was not assayed for) and rocks containing pyrite and chalcopyrite (copper sulphide) occur. Together, the positive copper values in soil occur over a 2.0 kilometre distance and remain undefined and open in extent.

"Happy Creek is the first to assemble a large land position around the former Boss Mountain molybdenum mine, and is the first to explore with systematic soil and rock geochemical surveys that include routine gold and multi-element analyses. This process was successful in identifying new tungsten-molybdenum targets that are adjacent to the mined deposits, and a large scale gold and silver system having geology that could be comparable to some of the bulk tonnage gold deposits in the Yukon and Alaska," states David Blann, President. "And with respect to the size and positive nature of the copper in soil anomalies, reports of copper mineralization, and the recent copper-molybdenum-gold discoveries at Fjordland Exploration's Woodjam prospects to the northwest, I'm pleasantly surprised with our new large scale copper target that is emerging."

The Company plans to expand and fill-in the successful geochemical surveys to the north and south of the mine and advance the existing molybdenum, copper and gold targets towards the drilling stage.

On behalf of the Board of Directors,

David E Blann, P.Eng., President

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. Acme Analytical Laboratories of Vancouver, B.C. provides gold and silver analyses in rock and soil samples by fire assay g(/t) and ICP-MS, respectively. ICP-MS results for gold and silver are provided in ppb (parts per billion) and ppm (parts per million), respectively. One ppm or 1,000 ppb equals 1.0 g/t.

Neither 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 release.

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