VANCOUVER, July 22 /CNW/ - Happy Creek Minerals Ltd. (TSX-V: HPY, the
"Company") 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
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
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
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.
This news release has neither been approved nor disapproved by the TSX
Venture Exchange. The TSX Venture Exchange does not accept responsibility for
the accuracy or adequacy of the contents of this news release. This news
release may contain statements that are forward looking and subject to risk
and uncertainty more fully described in the company's prospectus and public
filings located on SEDAR.
For further information:
For further information: Corporate Office: Nina Mallory, Corporate
Communications, Phone: (604) 662-8310, Email: email@example.com;
Investor Relations: Hugh Oswald, Ascenta Capital Partners Inc., Phone: (604)
684-4743 ext. 243, Toll free: 1-866-684-4743 ext. 243