Vancouver, British Columbia / ACCESSWIRE / June 10, 2014 / Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce preliminary results from a petrographic analyses of several nickel-bearing rock samples from its 100% owned, Black Riders property. The property adjoins the Company’s Fox tungsten property and is well situated approximately 25 km east of the past producing Boss Mountain molybdenum mine, and 75 km northeast of the town of 100 Mile House in the south-central Cariboo region of British Columbia, Canada.
Host rocks at Black Riders are ultramafic and magnesium silicate-rich, and consist of serpentinite, pyroxenite, gabbro and dunite. Surface grab samples collected in 2006 returned values between 0.06 to 0.23% nickel including a 300 metre long grab sample containing 0.19% total nickel. The area containing nickel values at surface is at least 1 km by 2 km in dimension.
In mid April 2014, three hand samples, grading between 0.22 and 0.23% Ni, were submitted for metallurgical and TIMA petrographic analyses at Process Mineralogical Consulting of Maple Ridge, B.C. The semi-quantitative petrographic work determined that nickel is present in olivine and serpentine, as well as the minerals pentlandite, mackinawite, nickel pyrrhotite, nickel magnetite (nickel-iron alloy) and awaruite. The presence of awaruite and nickel-iron alloys (or “native stainless steel”) is of interest as these are the key host alloys found at the Decar project in northwestern B.C, a joint venture between First Point Minerals (TSXV: FPX) and Cliff’s Natural Resources, a Fortune 500 Company.
David Blann, P.Eng., President of Happy Creek states: “The presence of nickel iron alloys in these initial three petrographic samples, representing only a small portion of the property, suggests the opportunity for Black Riders to host a large, low strip-ratio deposit similar to Decar. Additional investigation of the Black Riders property is warranted.”
Of the total nickel present, the amount that is in alloy form and recoverable by gravity and magnetics, along with other qualities of a potential concentrate, determine whether there is economic opportunity. The key benefits of iron-nickel alloy deposits include the potential amenability to concentration without extensive chemicals, water, and the potential for direct shipping of a concentrate directly to steel mills. In addition, recent research indicates magnesium silicate-rich rock minerals found in certain deposits like those at Black Riders have potential to fix or absorb carbon dioxide, a greenhouse gas.
The Company intends to collect additional samples from the Black Riders property with which to conduct further tests, and to identify the area containing the highest percentage of nickel-iron alloy.
The Company also wishes to announce that it has received exploration permits for drilling of up to 50 sites or 100 holes along with drill access trails on its 100% owned Fox tungsten property. Permits have also been received to conduct geophysical surveys and diamond drilling on its 100% owned Rateria and West Valley copper property in the Highland Valley area of B.C.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Registered Investor Relations:
James Berard Phone: 604-687-2768 Toll 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.
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.
Samples were submitted to Process Mineralogical Consulting of Maple Ridge, B.C. for petrographic and mineralogy investigations.
SOURCE: Happy Creek Minerals Ltd.