August 19, 2014 –
Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the
“Company”) has received initial copper leach test results from its 100% owned
Rateria property in the Highland Valley area, British Columbia. The company’s property
totals approximately 200 square kilometres in area that adjoins Teck’s Highland
Valley Copper mine property.
A
composite sample from drill core rejects (0.25% copper) was obtained from Zone
1 on the Rateria property and submitted to Met-Solve Laboratories, of Langley,
B.C. for preliminary acid leach testing. Drilling and petrographic studies have
shown that chalcocite is the predominant, leachable copper mineral occurring
from surface to at least 400 metres below surface. The bottle roll sulfuric
acid leach tests were performed on coarse and fine size samples obtained from
crushed drill core rejects, and analyses were taken at 3 hours, 6 hours, 24
hours, 48 hours and 72 hours.
Summary of Initial Copper
Leach Results- Zone 1
Particle size
|
Acid
Concentration (kg/t)
|
Acid Consumption
(kg/tonne)
|
% copper recovery
72 hours ( 3 days)
|
Coarse (passing 2565 um)
|
25
|
58
|
42.6
|
Coarse (passing 2565 um)
|
100
|
72
|
56.4
|
Fine (passing 168 um)
|
25
|
67
|
52.9
|
Fine (passing 168 um)
|
100
|
76
|
61.9
|
Results
indicate that appreciable copper in the Zone 1 material can be rapidly extracted
using acid leaching techniques. Typical copper heap leach recoveries are 60-70%
with time periods from 30 to 100 days and the product, after solvent extraction
and electro-winning, is copper cathode. Acid consumption can decrease over
longer time periods. These initial results are positive for the potential of
copper heap leaching at Zone 1 and additional tests are required involving larger
scale, longer leach period and costing of components.
Met-Solve
Laboratories comments “the test results show potential leaching occurring at
the 72 hour mark, especially the coarser material, suggesting it is maybe
possible to reach higher recoveries if the leach duration was extended. It would
be worthwhile to conduct column leach tests to evaluate the viability of heap
leaching as the next step”.
David
Blann, P.Eng., President of Happy Creek states: “The initial test work gives us
a positive new perspective to consider for Zone 1, and provides additional opportunity
for this and our other prospects on the property. About 20% of the world’s
copper is produced in this way and it is generally regarded to have lower capital
and operating costs. We are pleased to see positive copper recovery in just three
days and the potential to increase this with time. We will be discussing the
next steps with our metallurgical consultant.”
Happy
Creek has discovered two new copper zones located approximately 6.5 km from a
currently producing open pit. Zone 1 is outlined by approximately 35 drill
holes to be approximately 1.2 kilometres in length, 50 to 200 metres in width,
400 metres in depth and remains open in extent. Highlights include 95.0 metres
of 0.67% copper and 250 metres of 0.25% copper. A large percentage of the
copper mineral in Zone 1 consists of chalcocite, a mineral known to be readily
soluble in acid, or produces a quality concentrate by the flotation method. Zone
2 is located 2 km to the northeast and is less defined with 10 holes outlining
a mineralized zone approximately 500 metres in length, 50-150 metres in width,
350 metres in depth and remains open in extent. Outlying holes have also
intersected positive intercepts over a 600 metre by 1 km area. Highlights from Zone
2 include 152.5 metres of 0.35% copper, 0.06 g/t gold and 0.57 g/t rhenium and
92.8 metres of 0.30% copper, 0.15 g/t gold. Rhenium values in Zone 2 can reach 3 to 18 g/t
and are significant. More details can be found on the Company’s website at www.happycreekminerals.com .
The
Company has initiated an approximately 23.5 square kilometre LIDAR topographic
survey covering new claims that adjoin the Rateria property to the south. This
high resolution survey provides the Company with an accurate, detailed
topographic map as well as a clear view of recent logging activities and access
through the property. This survey will complete the balance of the Company’s
entire 200 square kilometre Highland Valley property. It is the foundation to
conduct various geological surveys, drilling and other exploration related
work.
The
Company also announces that due to forest fire hazard and intermittent helicopter
availability, a planned geological mapping program on the Fox tungsten property
was postponed until conditions change.
.
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: 604-687-2768 Toll
free: 1-877-459-5507
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. 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.