Happy Creek to drill Fox tungsten project
27 Giugno 2013 - 10:00PM
Access Wire
June
27, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV: HPY) (the "Company") is
providing an update on its plans for 2013.
The Company is making
final preparations to mobilize for a drill program on the 100%
owned Fox tungsten property. Drilling is expected to commence
around July 15th. To date, drilling has returned top-tier tungsten
grade and thickness that are at or in a near-surface setting.
Results include 19.4 metres of 0.82% W03, 11.0 metres of 0.80%W03,
20.0 metres of 0.63%W03, 24.7 metres of 0.68% W03, 14.8 metres of
4.0% W03, and 24.0 metres of 0.79%W03 (Refer to Press Release dated
November 19, 2012). Drilling is planned to continue testing the
extent and grade of the mineralized zone with a view to outlining
an initial resource. The Fox is thought to be a unique and
attractive new discovery in the global tungsten sector. Tungsten is
regarded as a strategic and critical metal for industrial countries
and prices have recently climbed to over $35/kg W03. A grade of
0.7% W03 contains 7.0kg W03 per tonne of rock.
To assist in
expediting the drilling program, certain short term measures have
been negotiated with management, employees, consultants and other
service providers. Starting July 1st
overhead costs of approximately $11,500 per month
are being deferred to help allow the Company to advance the Fox
property with drilling.
In connection with
these adjustments, and subject to TSX Exchange acceptance, the
Company has granted 750,000 Options of the Company to management,
employees, and consultants to the Company and exercisable into
common shares of the Company at a price of $0.20 for a period of
two years and shall vest in accordance with the policies of the
Exchange and the company's stock option plan
David Blann,
President and CEO of Happy Creek states "We wish to expresses our
appreciation to shareholders and everyone involved in helping the
Company deliver a solid exploration success on the Fox tungsten
project and the Highland Valley project. For a new discovery, the
Fox has produced some of the best tungsten drill results in the
Western world. The Rateria property in Highland Valley has returned
excellent drill results from two new zones that are 6.5 km from a
producing open pit at Canada's largest copper producer. We believe
that new discoveries in a favorable geopolitical jurisdiction and
close to mines and infrastructure provide an excellent opportunity
to create value."
On behalf of the Board of
Directors,
"David E
Blann"
____________________
David E Blann, P.Eng.
President, CEO
FOR FURTHER INFORMATION PLEASE
CONTACT:
David Blann, President, CEO
Corporate Office:
Phone: 604.662.8310
Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Registered Investor
Relations:
James Berard Phone: 604-687-2768Toll free:
1-877-459-5507
Neither the 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.
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