Happy Creek drills five m of 1% WO3 at Fox

Oct 29, 2015

HAPPY CREEK DRILLS 5 METRES OF 1.0% W03 AT NIGHTCRAWLER, FOX TUNGSTEN PROPERTY

Happy Creek Minerals Ltd. has released the preliminary drill results and an update from its 100-per-cent owned, 150-square-kilometre Fox tungsten property located in the south-central Cariboo, B.C.

Between Sept. 5 and Oct. 3, eight NQ-sized diamond core drill holes totalling approximately 1,500 metres has explored a portion of the eastern end of the road-accessible Nightcrawler tungsten skarn zone. Preliminary results from the first two holes have been received and are presented here.

Drill hole F15-02 returned five metres of 1 per cent tungsten trioxide, starting from 138 metres downhole. The intercept is approximately 113 metres below and 25 metres to the east of the Creek prospect where outcrop and subcrop samples have yielded from 1.2 per cent up to 6 per cent tungsten trioxide in grab samples over a distance of 90 metres (refer to press release dated Sept. 17, 2015). The Creek prospect remains undefined and open in extent, and is interpreted to represent one of at least three other mineralized layers that occur further south and at higher elevation above and behind the drill site.

Drill hole F12-01 was collared on the western side of the Creek prospect and drilled at minus 55 degrees to the north. However, at this location, the favorable skarn stratigraphic unit has been replaced by granite where the mineralized zone was expected to occur.

Additional drill results are pending.

During 2015, the company also completed geological and soil geochemical surveys, rock sampling, ultraviolet lamp prospecting at the North zone, a property-wide low-level airborne magnetic and radiometric geophysical survey, and collected a 500 kilogram metallurgical sample from the Ridley Creek prospect. A MSc geology thesis was also initiated at the University of British Columbia.

David Blann, PEng, president of Happy Creek, states: “The Fox property has delivered another outstanding result from a road-accessible area that adds to the resource potential already identified at three zones on Deception Mountain, 4.5 kilometres to the north. F15-02 returned five metres of 1 per cent tungsten trioxide that is the best intercept to date from the Nightcrawler area, and all the work completed this year marks another positive step forward for the project. Over the next few months, we intend to prepare an initial National Instrument 43-101 resource estimate on a portion of the project and to conduct engineering studies and permitting activities. The Fox is a large-scale, quality new tungsten discovery globally, and we look forward to advancing this project further next year.”

David Blann, PEng, is a qualified person as defined by NI 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release. Drill core is NQ diameter and cut in half for sampling using a rock saw. Rock samples are shipped to, prepared and analyzed at Agat Laboratories in Vancouver. Samples are first analyzed by aqua regia digest and ICP/ICP-MS and, for results of greater than 50 parts per million tungsten, are analyzed using a peroxide fusion digest in triplicate to obtain average tungsten assay results. Tungsten is multiplied by 1.261 to obtain tungsten trioxide, the compound for which tungsten prices are quoted. Happy Creek inserts blanks, duplicates and certified standards into the sample stream approximately one every 10 samples, and Agat performs its own detailed duplicates and checks, for which all results are compared and fall within a satisfactory range.

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