(via TheNewswire)
Mr.
1The current National Instrument 43-101 resource estimate for Fox is:
582,400 tonnes grading 0.826% WO3(indicated category)
565,400 tonnes grading 1.231% WO3(inferred category)
(WO3is tungsten trioxide)
For details of the project and the resource estimate see the report by
To achieve Happy Creek’s goals for Fox, the Company has applied to the Province of
History and Proposed Work
Happy Creek acquired Fox in 2006 and has discovered all of the mineral prospects on the property through prospecting, trenching and drilling. In 2011, the first drilling of the RC, BN and BK prospects returned high tungsten grade and thickness, leading the Company to its current resources.
The BN-RC-BK trend has been partially defined by some 11,000 m of drilling in 142 drillholes and the zones remain open for expansion. To date, all of the work in this area was supported by helicopter, however recent (2018-2022) logging activity has extended roads much closer to the deposits. The 2023-2027 proposed work plan and permit application includes a 5.1 km exploration access trail into the BN-RC area with a new drill camp. This access would allow for more efficient and non-weather dependent mobilization and field operations, improving worker safety and reducing exploration costs.
The Company recognizes the opportunity to support initiatives for the supply of critical metals to the western world. The Fox is well located, and the Company has a strong technical background in tungsten geology and advancing projects.
Indigenous Communities
Happy Creek is committed to responsible mineral resource development. The Company’s priority is to build and sustain mutually beneficial relationships with the Indigenous Communities in the territories in which the Company explores.
The Company operates within the principles and guidelines set out for COVID-19 that are established by provincial health and safety authorities to protect workers and the communities in which the Company operates.
About the Fox
The Fox is a district-scale, high-grade critical mineral project that Happy Creek has advanced from initial discovery to the resource stage. The project is host to the BN, RC, and BK deposits with current mineral resources (see Happy Creek’s news release dated
About Tungsten
Tungsten is a rare metal with unusual physical characteristics including extreme hardness and a very high melting point. These features make it an important metal for many industries. It is used mainly in cemented tungsten carbide and high-speed alloy cutting tools and other automotive, energy, defense, manufacturing and high-tech applications.
About
Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on the Company’s 100-percent-owned portfolio of diversified metal projects in
More information on the Company’s projects can be found on the Company’s website at www.happycreekminerals.com.
Qualified Person Statement
The technical and scientific contents of this release have been prepared, verified, and approved by
On behalf of the Board of Directors,
“Peter Hughes”
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Office Phone: (604) 802-7372
Email:petehughes@me.com
Neither the
The reader is cautioned that results or information from an adjacent property does not infer or indicate similar results or information will or does occur on the subject property. Historical information from the subject or adjacent property cannot not be relied upon as the Company’s QP, a term which was created and defined under NI-43-101, has not prepared nor verified the historical information.
This press release contains "forward-looking information" within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral projects. Forward-looking information may be, but not always, identified by the use of words such as "seek", "anticipate", “foresee”, "plan", "planned", "continue", "expect", “thought to”, "project", "predict", "potential", "targeting", "intends", "believe", “opportunity”, “further” and others, or which describes a goal or action, event or result such as "may", "should", "could", "would", "might" or "will" be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Happy Creek’s ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Happy Creek and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results tomaterially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at www.sedar.com. Although Happy Creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Happy Creek withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.
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Figure 1. Fox Project Area
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