Honey Badger Exploration Stakes Additional Ground at its Silver Mountain and Mink Properties
TORONTO, Jan. 19, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) has staked an additional 6 mining claims around its existing land package near the historic Silver Mountain and Mink mines (Figure 1). The additional claims were staked to optimize the coverage of structures interpreted by the Company to control polymetallic silver mineralization in the area.
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About the Thunder Bay Silver District
Honey Badger has now secured a strategic land position in the under-explored Thunder Bay Silver District that shares many similarities with the Cobalt District. The geological controls and host environment of the polymetallic silver occurrences and mines of the Thunder Bay District compare well to the geological controls on mineralization and host geological environment of the polymetallic silver veins of the Cobalt District (Figure 2).
Similar to the Thunder Bay Silver District, the polymetallic silver mineralization in the Cobalt District formed in a sedimentary sequence capping an Archean basement, and occurred in spatial association with diabase sills emplaced in an extensional setting (see Potter, 2009 for the geological history of the Cobalt District). Cobalt-rich silver mineralization found in the historic Silver Islet Mine and the 3A mine, suggests that there is potential to discover similar veins in the region.
The group of properties controlled or optioned by Honey Badger covers some of the most productive veins of the Thunder Bay Silver District, including the Beaver Silver Mine (Franklin et al., 1986). The reported silver grades at the Beaver Mine, between 1884 and 1891, averaged 0.25% Ag with zones grading up to 3.42% Ag (Ingall, 1889). This indicates the prospect and high-grade tenor of the polymetallic silver veins of the district. The reported grades of the Beaver Mine are supported by grab samples taken in the mine by the Geological Survey of Canada in 1887 that contain up to 1.15% silver. Ingall (1889) also reported that the grade of the main ore shoots in the Silver Mountain Mine, located 400m north of Honey Badger’s Silver Mountain Property, contained up to 5.7% silver.
The geological attributes of the Thunder Bay area and the spatial distribution of the polymetallic silver mines, showings and occurrences over approximately 100 kilometres suggest a good potential to discover additional high-grade polymetallic silver veins, some of which could be potentially cobalt-bearing.
Qualified Person
Q. Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and has approved 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”.
The Company has secured a large land package in the historic Thunder Bay Silver District. Honey Badger’s three properties, collectively known as the Thunder Bay Silver/Cobalt Camp are prospective for cobalt-rich silver mineralization similar to that of the Cobalt District. All properties are ideally located close to roads, power lines, infrastructure, and skilled labour force.
The Company has initiated exploration of the Thunder Bay Silver/Cobalt Camp and is currently conducing an airborne magnetic and electromagnetic geophysical survey. A diamond drilling program is planned this winter following geophysical analysis, geochemical analysis and historical data compilation.
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.
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