Mar. 29, 2010 (TheNewswire.ca) --
March 29, 2010 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (OOTC:HPYCF) (TSXV:HPY) (TSX-V: HPY, the "Company") is pleased to provide an update on its properties and current exploration plans. During 2010, the Company will see at least three of its British Columbia properties drilled- the Rateria, West Valley and Hawk property, and drilling is also proposed for later in the year at the Company's Golden Ledge property.
Highland Valley copper-molybdenum property
The Company plans to continue to outline and expand by drilling its two recently discovered copper zones and test several quality exploration targets on its 100% owned 145 square kilometer Highland Valley properties. The Rateria and West Valley properties adjoin Teck's Highland Valley Copper mine property-Canada's largest copper producer that is currently mining material averaging 0.34% copper. Results to date from the Rateria property include 177 metres grading 0.37% copper in Zone 2, and 100.0 metres grading 0.29% copper in Zone 1. Both Zone 1 and 2 remain undefined and open for expansion, with several drill holes ending in mineralization. Recently, the Company announced significant rhenium values in a portion of re-analyzed drill core including 12.0 metres containing 1.38% copper, 0.010% molybdenum, 2.85 g/t (grams per tonne) rhenium and 7.1 g/t silver, and 38.2 metres containing 0.11% copper, 0.029% molybdenum, and 2.14 g/t rhenium. Rhenium is a rare metal currently priced around $6.0 per gram, and appears to be associated with molybdenum. Zone 2 occurs near the geological contacts of the Skeena, Bethsaida and Bethlehem phases of the Guichon Batholith that is an important similarity to the known ore deposits currently being mined to the northwest. These rock types along with the favorable mineralogy present and zones containing greater than 1% copper are thought to be strongly encouraging at the current stage of exploration. Further drilling is planned to fully outline and expand Zone 2 and Zone 1 in all directions. In light of the significant rhenium values associated with molybdenum, the Company has compiled historical exploration results and re-processed geophysical and geochemical data which has identified several new, untested drill targets. To the west of Zone 1, and a few hundred metres southwest of Teck's Yubet copper prospect, a one kilometre long, 300 metre wide positive induced polarization geophysical anomaly is overlain by historical (1970's) positive values of 20 to 40 ppm (parts per million) molybdenum in soil samples. Downstream sediment samples contain 600 ppm copper, 37 ppm molybdenum up to 1519 ppm copper, 57 ppm molybdenum. Historically this area was located on the claim border of two different companies, and may not have received attention by either company. This large scale, prospective and untested target is located entirely within the favorable Bethsaida phase of the Guichon Batholith and is also planned for drilling in 2010. On the Company's West Valley property, a compelling new large scale geophysical target has been identified with surface samples containing trace to 1.7% copper, 0.37 g/t gold. The positive gold values and host rock for this zone are a little different than the copper-molybdenum zones identified to date, and permits are in preparation for drilling in 2010.
Hawk copper-gold property
The Company has received notification from its Joint Venture partner, Jiulian Resources Inc. (TSXV:JLR) that it will be conducting a drill program at a new large scale alkalic type porphyry copper-gold-silver target on the Company's Hawk property this spring. Surface samples from this property have returned values of 2.10% copper, 8.70 g/t gold and 0.88% copper, 1.10 g/t gold over 5.0 metres. This property is hosted within a geological setting that is similar to other known copper-gold porphyry deposits such as Mount Polley to the northwest and Afton to the southeast.
Golden Ledge
The Company is planning to conduct an aggressive exploration program on this property, starting with geochemical surveys leading up to trenching and drilling later in the year. To the north of the Golden Ledge property, the Spanish Mountain and Frasergold sediment hosted gold deposits together contain over 4 million ounces of gold. Adjoining the Golden Ledge property to the south, previously released drill results from Spanish Mountain's Thunder Ridge property include 8.84 g/t gold over 7.5 metres and 2.14 g/t gold over 9.4 metres. This drill hole is located 350 metres south of the Company's property. Happy Creek's Golden Ledge property also contains positive gold and silver values in soil, and at the DL adit samples returned 42.9 g/t gold over 1.0 metre. The Company plans to first perform geochemical surveys in early May covering a previously unexplored area that is directly on trend with mineralization of the Thunder Ridge property. If successful, the Company will have identified a 5 kilometre long, 1.5 kilometre wide zone thought to host potential for a sediment hosted gold deposit. On a world-wide basis, other sediment hosted gold deposits are known to host 10-50 million ounces of gold. Trenching and drilling permits are currently in preparation for 2010.
The Company is in the process of raising a minimum $1.4 million, and currently has approximately $1.0 million in working capital.
On behalf of the Board of Directors,
"David E Blann"
____________________
David E Blann, P.Eng.
President
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Phone: 604.662.8310 Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Investor Relations:James Berard and Aaron KonkinPhone: 604-687-2767Toll free: 1-877-459-5507
Neither 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. This News Release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the Company's Prospectus, Financial Statements and Public Filings located on SEDAR.
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