Happy Creek Minerals Ltd.
TSX VENTURE : HPY

Happy Creek Minerals Ltd.

April 28, 2009 09:00 ET

Happy Creek's First Results From West Valley Property, B.C. and Options Granted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Happy Creek Minerals Ltd. (TSX VENTURE:HPY) (the "Company") is pleased to provide results from its first reconnaissance of the 100% owned West Valley property that is approximately 91 square kilometres in area and adjoins the south western side of Teck's Highland Valley copper mine property in south central British Columbia, Canada. The Valley, Lornex, Bethlehem and Highmont deposits have made Highland Valley one of North America's largest copper producers.

During October 2008 the Company conducted prospecting and collected 35 stream sediment and 19 rock samples from the West Valley property. Copper showings were first located in the early 1900's, however glacial till, historical patchwork claim ownership and cursory and intermittent work performed largely between 1956 and 1965 limited the exploration effectiveness. One of the objectives during 2008 was to find historical showings and survey their location using global positioning units. Recent and extensive logging activity has provided better access and uncovered new bedrock exposures.

Results

Several historical prospects were located and initial sampling returned positive values of copper. Approximately 80% of the Fir prospect is covered by glacial till, however, three outcrops over a distance of approximately 600 metres returned values of 0.32% up to 1.20% copper in grab samples. An old trench returned 0.70% copper over an apparent width of 10.0 metres. Approximately 2.5 kilometres to the northeast, a trench at the LL prospect returned 0.40% copper over 6.0 metres. The mineralized zones are undefined and open in extent and other historical prospects remain un-sampled.

Reconnaissance scale stream sediment samples taken over a portion of the property returned values from 38.5 to a maximum 497.1 ppm (part per million) copper and trace to 21.0 ppm molybdenum. Five of 35 samples returned greater than 300 ppm copper and three of 35 samples returned greater than 8 ppm molybdenum. These values are thought to be strongly anomalous and will be followed up and the sampling area expanded in 2009.

The positive results from rock and stream sediment samples appear similar to the early exploration results from the Company's Rateria property to the east. On the Rateria property, subsequent exploration by the Company has located two new copper zones with drill results of 177.0 metres grading 0.366% copper 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.

Geology

The West Valley property is located in part on and to the west of the Lornex Fault, a major north-south trending structure that is thought to be an important control to mineralization at the Lornex and Valley copper deposits to the north. Although large areas of the West Valley property are covered by glacial till, outcrops are dominantly granodiorite to quartz diorite in composition. Importantly, dikes of quartz feldspar porphyry also occur that appear similar to those on the Rateria property and in the large deposits being mined to the north. In proximity with these dikes, zones of weak to intense fracturing contain variable concentrations of quartz, k-feldspar, biotite, chlorite, epidote, sericite, muscovite, and kaolin alteration minerals. Mineralization consists of dominantly bornite, chalcopyrite and chalcocite (copper sulphides) along with minor malachite, azurite (copper oxides) and various iron oxides.

Happy Creek is pleased to have acquired another property in the Highland Valley district that has returned early-stage and positive results that are similar to the Company's Rateria property. Geological mapping and geochemical sampling are planned to identify areas for a three dimensional induced polarization geophysical survey.

The Company wishes to announce that, subject to regulatory acceptance, it has granted a total of 750,000 stock options to directors of the Company, at a price of $0.12 per share exercisable up to and including April 28, 2014.

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, P.Eng., President, CEO

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
    David E. Blann, P.Eng.
    President, CEO
    604.662.8310
    Email: info@happycreekminerals.com
    Website: www.happycreekminerals.com
    or
    Ascenta Capital Partners Inc.
    Hugh Oswald
    Investor Relations
    604.684.4743 ext. 243 or Toll free: 1.866.684.4743 ext. 243