Happy Creek Minerals Ltd.

Happy Creek Minerals Ltd.

November 13, 2009 17:07 ET

Happy Creek Expands Zone 2 in 2009 Highland Valley Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Happy Creek Minerals Ltd. (TSX VENTURE:HPY) (or the "Company") announces the completion of its 2009 drill program on its Rateria property that adjoins Teck Resources Ltd.'s Highland Valley copper mine property and is approximately ten kilometres southeast of the concentrator, in south central British Columbia. The Highland Valley Copper mine is North America's third largest copper producer.

The 2009 diamond drilling program totaled approximately 2,000 metres in nine holes. The objectives of the program were to test for mineralization in a five kilometre long and 500 metre to one kilometre wide portion of the property in which Zone 2 occurs at the northern end, and test the new "High-Res" target located to the east of Zone 2. Drill core assay results are pending for the drill program.

Three drill holes in Zone 2 have expanded its length from 200 to over 450 metres. Copper minerals are dominantly bornite and chalcocite (copper sulphides). During 2008, the first drilling in Zone 2 returned two higher grade intervals including 27.0 metres containing 1.05 percent copper, 0.02 percent molybdenum, 5.0 g/t (grams per tonne) silver and 0.24 g/t gold, and 17.5 metres containing 1.12 percent copper, 0.01percent molybdenum, 5.46 g/t silver and 0.02 g/t gold. These intervals occur within a mineralized envelope containing 177.0 metres grading 0.37 percent copper and 103 metres grading 0.33 percent copper, respectively. Currently, Highland Valley Copper is profitably mining an average grade of 0.32% copper (SEDAR: TCK third quarter MD&A). Zone 2 remains undefined and open to expansion in several directions. Geophysical and geological information strongly suggests Zone 2 may be over one kilometre in length, with a 500 metre portion that is untested by drilling. Importantly, Zone 2 contains elevated molybdenum, gold and silver credits that occur with the copper values.

Further to the southwest of Zone 2, four widely spaced reconnaissance holes within a three kilometre portion of a large geological corridor contain favorable degrees of fracturing and alteration with minor concentrations of bornite, chalcocite and chalcopyrite copper minerals. During 2008, two drill holes within this corridor returned 114.0 metres grading 0.09% copper and 334 metres grading 0.07% copper, respectively. The 2008 and 2009 drill holes are thought to reflect excellent potential for copper deposits to occur within this corridor and large areas remain untested by drilling.

One drill hole tested the new "High-Res" target approximately two kilometres to the east of Zone 2. Drill core contains bornite and chalcopyrite near the top of the hole, and starting around 75 metres depth, reasonably consistent trace concentration of very fine grained native copper to 200 metres depth and the end of the hole. The High-Res target is overall approximately 1.2 kilometres by 1.6 kilometres in dimension, and the Company considers this first drill hole as positive and reflecting potential for significant copper mineralization in a different geological setting than Zone 2.

Previous drilling results from Zone 1 include 100.0 metres grading 0.29 percent copper, 84.0 metres of 0.30 percent copper, and 10.4 metres grading 1.55 percent copper. Several holes ended in copper mineralization, and this zone also remains undefined and open in extent.

Happy Creek has assembled a 100 percent interest in over 140 square kilometres of mineral claims that are close to North America's third largest copper producer. The property is largely covered by glacial till from approximately three to over thirty metres in thickness, and the most effective exploration method has been to perform geophysical surveys followed by drilling. Happy Creek has discovered by drilling two new zones containing significant copper and associated molybdenum, silver and gold values that remain open in extent, and identified several other prospective targets. Complete results for the 2009 drill program are expected within six to eight weeks. The Rateria property is now fully permitted for up to 26 drill holes during 2010, and further drilling is planned.

The Company also wishes to announce it has engaged Strike Communications Inc., a Vancouver based investor relations firm. The Company has also granted a total of 650,000 options exercisable at a price of $0.12 per share for a period of five years to directors, officers, employees and consultants to the Company.

On behalf of the Board of Directors,

"David E Blann"
David E Blann, P.Eng.

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.

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.

Contact Information

  • Happy Creek Minerals Ltd.
    Corporate Office
    Happy Creek Minerals Ltd.
    James Berard
    Corporate Communications
    604-687-2767 or Toll free: 1-877-459-5507
    Happy Creek Minerals Ltd.
    Aaron Konkin
    Corporate Communications
    604-687-2767 or Toll free: 1-877-459-5507