Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the
“Company”) announces the final assay results for its 2019 drilling
program that was completed in June 2019. In addition to the Beaver
Vein, the remaining holes of the program were targeting favorable
structures in the predicted extensions of the veins mined in the
Elgin and the Stewardson mines (Figure 1).
Honey Badger drilling was successful in both
proving the continuity of the structures hosting historic Elgin and
Stewardson mines and identifying silver-lead-zinc mineralization.
Honey Badger also discovered three new silver-bearing structures in
the black shales of the Rove Formation. Two are located near the
Beaver Mine and the other is located near the Stewardson Mine.
These new discoveries along with the previous
announced high grade silver intersects in BM-19-014 of 1,004 g/t Ag
over 4 metres, including 1,674 g/t Ag over 2.4 metres (core length)
and a second silver-bearing vein and contains 69.2 g/t Ag over 1.8
metres (core length) prove that the these structures have
considerable lateral extension. The Company will focus on
extending these high-grade intersections along strike and to
depth.
In the Beaver Mine area, the Beaver Cobalt Zone
was extended over 130 metres from its intersection in hole
BM-18-004. However, as the cobalt zone is not associated with
recognizable visual indicators in the diabase sill that hosts it,
the structure controlling the Beaver Cobalt Zone remains
undefined,
Assay Highlights (Table 1)
- BM-19-012 collared in a sub-cropping silver vein near the
Beaver Mine that contains 46 g/t AgEq over 1 metres (core
length)
- BM-19-015 intersected a new silver-bearing zone near the Beaver
Mine that contains 90 g/t AgEq over 2 metres(core length)
- SM-19-021 discovered a new silver-bearing zone near the
Stewardson Mine that contains 105 g/t AgEq over 2 metres
- BM-19-015 discovered the western extension of the Beaver Cobalt
Zone and contains 0.05% Co over 9.45 metres
Quentin Yarie, President and CEO of Honey Badger
stated: "Our 2019 drilling program was successful. We found the
continuity of the high-grade silver zone in the Beaver Vein, we
proved that the silver-bearing structures hosting the Elgin and the
Stewardson mines extend laterally and remain prospective for
high-grade silver mineralization, and we discovered multiple new
silver-bearing structures near the Beaver and Stewardson mines. We
now have high-quality exploration targets on the Beaver Property
where, as indicated by our 2018 and 2019 drilling, near-surface
zones of silver mineralization grading over 1000 g/t can be
discovered. We are looking forward to execute the following phase
of our exploration program on the Beaver Property and expand our
silver discoveries.”
Table 1 - Assays results highlights for
lead, silver and zinc from the 2019 drilling program
Hole |
From (m) |
To(m) |
Length (m) |
Estimated true width (m) |
Pb (%) |
Zn (%) |
Ag (g/t) |
AgEq* (g/t) |
Zone |
BM-19-012 |
9.7 |
10.7 |
1 |
Unknown |
0.02 |
0.14 |
38 |
46 |
Discovery |
BM-19-015 |
99.7 |
101.7 |
2 |
Unknown |
|
0.03 |
87 |
90 |
Discovery |
EM-19-016 |
39.6 |
40.9 |
1.3 |
Unknown |
|
0.08 |
8.5 |
14.5 |
Elgin Vein |
EM-19-017 |
47.2 |
48.2 |
1 |
Unknown |
|
0.25 |
2.7 |
16.7 |
EM-19-018 |
Intersected Elgin Mine – no recovery |
SM-19-020 |
73.9 |
76.3 |
2.4 |
Unknown |
|
0.34 |
1.8 |
19.8 |
Stewardson Vein |
SM-19-021 |
34.1 |
36.1 |
2 |
Unknown |
|
0.1 |
98 |
105 |
Discovery |
SM-19-021 |
100.8 |
101.8 |
1 |
Unknown |
|
0.37 |
5.4 |
25 |
Stewardson Vein |
* AgEq = (Ag (g/t)*0.53$/(g/t) +
Zn(wt.%)*24.36$/wt.% + Pb(wt.%)*19.82$/wt.% + Cu(wt.%)*59.26$/wt.%)
/ 0.53$/(g/t Ag). Spot metal prices taken after market closure July
31, 2019
Table 2 – Attributes of the drill
holes
Hole Id |
X |
Y |
Z |
Azimuth |
Dip |
Depth (m) |
BM-19-012 |
304488 |
5355056 |
379 |
201 |
-50 |
240 |
BM-19-015 |
304349 |
5354944 |
374 |
20.8 |
-61.7 |
202 |
EM-19-016 |
305055 |
5356061 |
344 |
4 |
-45 |
82 |
EM-19-017 |
305054 |
5356061 |
343 |
25.8 |
-55 |
126.16 |
EM-19-018 |
305053 |
5356062 |
343 |
304 |
-45 |
44.56 |
BF-19-019 |
304345 |
5354323 |
305 |
165 |
-45 |
100 |
SM-19-020 |
306758 |
5355569 |
356 |
135 |
-45 |
100 |
SM-19-021 |
306758 |
5355568 |
356 |
173 |
-60 |
114.48 |
SM-19-022 |
306757 |
5355569 |
356 |
241 |
-52 |
136 |
Figure 1 - Location of
the 2019 Diamond Drill
Collars: https://www.globenewswire.com/NewsRoom/AttachmentNg/23c2449d-636a-4e9f-998d-22e8b5909a03
About the Thunder Bay Silver-Cobalt
ProjectHoney Badger’s Thunder Bay Silver-Cobalt Project is
comprised of the Beaver Silver, Silver Mountain, and Mink Mountain
Silver properties, covers more than 37,850 hectares and includes
twelve past-producing high-grade mines with historical production
of more than 1.67M oz silver. The project is located on the
Lakehead Region, 25 to 70 kilometres southwest of Thunder Bay,
Ontario. It is easily accessible and close to infrastructure.
There are two main polymetallic vein groups in
the Lakehead Region - the Mainland and Island vein groups that were
historically mined for silver, cobalt, copper, nickel, lead and
zinc. Some of the veins also produced gold. The Island Vein group
produced a total of 3,188,297 oz silver with most of that
production coming from the Silver Islet Mine. The Mainland Group of
silver veins produced 1,991,314 oz silver. The polymetallic silver
veins in the region are most often found hosted in sediments, most
notably the upper Rove Unit, near or within diabase intrusions.
This geological setting parallels the other major silver district
in Ontario - the Cobalt Silver District.
Honey Badger is the early mover in consolidating
key ground in this historic silver camp that has strong potential
for polymetallic mineralization. The Company initiated its
exploration program in March 2018, and has made several promising
discoveries since:
- Geophysics and drilling uncovered >2 km “five-element” veins
(polymetallic veins that can contain, amongst others, silver,
cobalt, copper, nickel, lead and zinc) at the Beaver Mine;
- Airborne geophysics identified numerous targets on the
project’s land package that exhibit the same response as the
historic Beaver Mine “five-element” vein; and
- Assay results from the 2018 drilling program discovered a wide
and near-surface zone of high-grade cobalt mineralization in the
Rove Shale, near the historic Beaver Mine (0.26% Cobalt over 10.8m
) and identified high-grade silver mineralization below the
lower-most level of the Beaver Mine (682 g/t silver over 2.4
metres, including 1,254 g/t silver over 1.2 metres core
length).
On-site Quality Assurance/Quality
Control (“QA/QC”) MeasuresDrill core samples were
transported in security-sealed bags for analyses to Activation
Laboratories Ltd. in Thunder Bay, Ontario. Individual samples are
labeled, placed in plastic sample bags and sealed. Groups of
samples are then placed into durable rice bags that were delivered
by Honey Badger to the lab in Thunder Bay. The remaining coarse
reject portions of the samples remain in storage if further work or
verification is needed.
AdministrativeIn accordance
with the Cairngorm Mines Limited options agreement the Company
issued 6,000,000 common shares.
Qualified PersonQuentin Yarie,
P Geo. is the qualified person responsible for preparing,
supervising and approving the scientific and technical content of
this news release.
About Honey Badger Exploration
Inc.Honey Badger Exploration is a gold and base-metals
exploration company headquartered in Toronto, Ontario, Canada with
properties in Quebec and Ontario. The Company’s common shares trade
on the TSX Venture Exchange under the symbol “TUF”.
For more information, please visit our website
at http://www.honeybadgerexp.com.
Or contact:
Quentin Yarie, President & CEO, (416)
364-7029, qyarie@honeybadgerexp.com
or
Mia Boiridy, Investor Relations, (416) 364-7029,
mboiridy@honeybadgerexp.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.This News Release contains forward-looking
statements. In some cases, you can identify forward-looking
statements by terminology such as “may”, “should”, “expects”,
“plans”, “anticipates”, “believes”, “estimates”, “predicts”,
“potential” or “continue” or the negative of these terms or other
comparable terminology. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors
that may cause our or our industry’s actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements.Although the Company believes that the assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by law.
Honey Badger Silver (TSXV:TUF)
Historical Stock Chart
From Apr 2024 to May 2024
Honey Badger Silver (TSXV:TUF)
Historical Stock Chart
From May 2023 to May 2024