TORONTO, April 12, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) announces it has substantially increased its land position at its Thunder Bay Polymetallic Silver Camp. Based on the Company’s early exploration successes in the Beaver Mine area, Honey Badger has strategically staked an additional 1,077 claims covering more than 23,400 hectares to cover the southern extension of the main structures that are interpreted to control polymetallic silver mineralization in the district (Figure 1).
The geology of the newly land package is very similar to the geology of the Cobalt Camp, and a review of historical records has already identified several exploration targets for additional polymetallic, “Five-element”, silver veins on the newly acquired claims.
Favourable targets in the district are typically located where diabase sills and sedimentary rocks are cut by topographic depressions (representing fault zones) that are oriented parallel to known silver veins. Using historic records, Honey Badger has identified two large veins on the extended land package - the Sunrise Vein and the Weezou Vein that are prospective for polymetallic silver mineralization. Both veins are parallel to the known silver veins of the district and that are hosted in multi-kilometre-long structural zones highlighted by continuous topographic depressions.
With this land expansion, Honey Badger has also secured an additional three historic mines: Lily of the Valley, the Federal and the Gopher mines. The Lily of the Valley Mine was developed on a vein reported to contain zones of very high-grade silver mineralization. Historically, a 5,060 pounds bulk sample taken at the Lily of the Valley Mine graded 2.98% silver (Mineral Deposit Inventory for Ontario; Deposit: MDI52A06SW00003). Little historic information exists for both the Gopher and the Federal mines.
About the Thunder Bay Silver Camp
Honey Badger’s Thunder Bay Silver Camp now covers more than 30,000 hectares and includes twelve past-producing high-grade mines with historical production of more than 1.67M oz silver. The project, located 25 to 70 kilometres southwest of Thunder Bay, Ontario, is easily accessible and close to infrastructure. Honey Badger is the early mover in consolidating key ground in this historic silver camp that has strong potential for polymetallic mineralization.
Honey Badger initiated its exploration program in March 2018 and made several discoveries:
- Geophysics and drilling uncovered >2 km “Five-element” vein (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
The current 1,500 m drill program is testing structural traps where the likelihood of finding polymetallic silver mineralization is the highest. There is potential for a larger system than initially anticipated, and the Company is ensuring it is increasing its control of prospective land with this latest ground expansion.
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.
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