Happy Creek Minerals (TSXV:HPY) (OTCPink:HPYCF) Non-Brokered Private Placement to raise up to $400,000 with $0.05 units. Happy Creek, with an extensive portfolio of mineral properties in the Highland Valley and Cariboo regions of southern British Columbia, is focussed on making new, 100% owned discoveries in proximity to mines and infrastructure.
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Happy Creek Minerals Ltd. (TSXV:HPY) (OTCPink:HPYCF), a Canadian mineral exploration company, has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $400,000 from the placement of up to 8 million units priced at $0.05 per unit.
Each unit consists of one share and one-half a warrant with each full warrant exercisable at $0.10 for 24 months.
The shares are currently trading at $0.045.
Net proceeds will primarily be used to fund the company’s ongoing exploration programs and for general working capital.
Happy Creek, with an extensive portfolio of mineral properties in the Highland Valley and Cariboo regions of southern British Columbia, is focussed on making new, 100% owned discoveries in proximity to mines and infrastructure.
It also holds a 1% NSR on the Silver Dollar property in the Cambourne mining district of southeast B.C.
Since 2004, the company has assembled the current 244 square km Rateria and West Valley property in the Highland Valley.
The 100% owned properties adjoin and surround the southern side of the Highland Valley Copper mine property, Canada’s largest copper producer having over 50 years of continuous production.
The property also adjoins the north side of the past producing Craigmont copper mine property.
Happy Creek’s Cariboo projects include:
• Fox Tungsten
• Silverboss porphyry Cu-Mo-Au and Au-Ag
• Hen-Art-DL porphyry/skarn Au-Cu and orogenic Au
• Hawk porphyry Cu-Au-Ag
• Black Riders Ni
Happy Creek acquired the Fox Tungsten in 2006 and has discovered all 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.
In 2018, the company filed a NI 43-101 Resource Update for the Fox Tungsten Project, reporting 582,400 tonnes grading 0.862% tungsten in the indicated category, and 565,400 tonnes grading 1.231% tungsten in the inferred category.
The company recently applied to the Province of British Columbia for a 5-year amendment (2023-2027) to the company’s existing Multi-Year Area-Based exploration permit that would allow for up to 570 drill pads, 1.2 km of machine trenching, 15 km of temporary drill access trails and other activities.
Peter Hughes, President and CEO, stated: “Fox has a world-class tungsten grade and is approaching the threshold of contained metal to justify advanced engineering, economic and environmental studies. As tungsten prices continue to show strength, our goal is to increase Happy Creek’s resource and advance Fox as one of the highest grade tungsten projects in the western world. Happy Creek has a great opportunity to expand the existing zones and make additional discoveries on this large, district-scale project. Tungsten is recognized as a “Critical Mineral” by Canada and other western nations because of its essential hard metal uses in tools for manufacturing, defense and other sectors. Currently 85% of primary world production comes from China and there is very little western production. Fox represents a potential low-impact, long-term and secure supplier of this critical mineral for the North American and global economy.”
For more information, please visit the company’s website at www.HappyCreekMinerals.com, contact Peter Hughes, President and CEO, at 604-802-7372 or by email PeteHughes@me.com.
