VANCOUVER, Aug. 22 /CNW/ - Happy Creek Minerals Ltd. (TSX-V: HPY) (the
"Company") is continuing exploration of its 100% owned Silverboss property,
located northeast of 100 Mile House, B.C. The Silverboss property adjoins the
former Boss Mountain molybdenum mine operated by Noranda Inc. that has
published production figures of 7.5 million tonnes at an average grade of
0.20% molybdenum (Mo), and a resource of 63 million tonnes of 0.074% Mo that
is not NI43-101 compliant (B.C. Ministry of Energy and Mines Deposit profile
L05). The mine was closed in 1984 when molybdenum prices dropped to around
$4.00/lb. Currently, moly prices are around $30.00/lb Mo.
Exploration of the Silverboss property has identified positive
molybdenum, tungsten and copper in soil occurring in an area approximately
3,000 metres in length and 500 metres in width that extends outward from the
Boss Mountain moly deposits. Within the large molybdenum in soil anomalies,
widespread and multiple stages of quartz veins occur that have returned up to
0.12 metres containing 0.637% molybdenum. In 2007, exploration has comprised
fill-in and expansion of the 2006 soil grid. Samples are now at the laboratory
for analyses. Based on the favorable geology, structure, soil and rock
geochemistry, and proximity with the adjacent past producing Boss Mountain
mine, the company is planning to drill an initial phase of three holes, each
approximately 400 metres in length.
The Company feels exploration around the Boss Mountain mine was
previously very limited, and the 100% owned Silverboss property hosts
excellent potential for discovery of new moly deposits and extensions to moly
deposits occurring at the Boss mountain mine.
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: Office phone: (604) 662-8310, Toll Free Phone:
1-877-662-8310, www.happycreekminerals.com, Info@happycreekminerals.com