Honey Badger’S Work Outlines New High-Grade and “Rogue- Like” Targets at the Plata Project
HONEY BADGER’S WORK OUTLINES NEW HIGH-GRADE AND “ROGUE-
LIKE” TARGETS AT THE PLATA PROJECT
White Rock, British Columbia, April 16, 2025 – Honey Badger Silver Inc. (TSXV: TUF | OTCQB: HBEIF)
(“Honey Badger ” or the “ Company”) is pleased to provide an update on its 100% -owned Plata
project, located adjacent to Snowline Gold Corp’s (“Snowline”) major discovery at its Rogue project
in the Yukon Territory. The Company has been prioritizing targets to plan the next phase of work on
the project.
The Company’s Executive Chairman, Chad Williams , commented, “We have always been excited
by the high-grade silver occurrences at Plata and the similarities to the local prolific Keno Hill district.
The fact that silver grades at surface were so high as to allow for direct transport of ore by airplane
to Idaho for treatment speaks for itself! The additional component of strong indications of a
potential large gold system similar to Snowline’s Rogue discovery, which is located adjacent to Plata,
potentially with a significant silver component, adds to our excitement. We will continue compiling
data in preparation of a highly focused field program with the objective of advancing Plata toward
one or more discoveries.”
About Plata
Plata is located in east-central Yukon within the Tombstone Gold Belt and is a past producing high-
grade silver property that produced about 290,000 oz Ag from small -scale, high-grade mining at
surface (Carlson, 2010). Ore was mined and flown by fixed wing aircraft to Idaho for processing.
Historical exploration work at Plata has primarily focused on the high -grade silver veins at surface.
These are analogous to the rich Keno Hill Silver Mine in the Yukon, one of the highest -grade silver
deposits in the world, now operated by Hecla Mining. While the analogy to Keno Hill remains valid,
the Company has continued to develop its understanding of Plata as part of a larger “Snowline -
style” mineralized system. Understanding how Plata may fit into a Reduced Intrusi on Related Gold
System (RIRGS) adds the potential for a large gold deposit in addition to the high- grade silver and
lead potential.
New targets have been identified:
• Potential extension of high-grade Aho zone to the east.
• Potential unrecognized mineralization along the Plata and Rogue thrust faults. The Rogue
Thrust is a newly named structure north of the Plata Thrust.
• Potential for RIRGS mineralization in newly staked claims over a magnetic low anomaly.
Mineralization and Targets at Plata
To date, exploration has identified four types of mineralization at Plata (Table 1). The most well
understood of these are Type I and Type II mineralization. Type I mineralization consists of high -
grade silver veins hosted in northeast -trending faults. The most significant occurrences of Type I
mineralization occur as veins up to tens of metres wide that can be traced for up to 100 metres.
Mineralization consists of heavily disseminated to massive galena, tetrahedrite and sphalerite. Type
II mineralization is characterized by high -grade gold and silver veins that form within parallel
structures along the Plata Thrust Fault. Mineralization comprises bands of arsenopyrite, pyrite,
galena, boulangerite, tetrahedrite and sphalerite. Type II mineralization comprises the P3 and P4
showings, which are collectively known as the Aho Zone (Fig. 1).
The recognition and continued understanding of the Aho Zone in the context of a larger RIRGS has
become increasingly important to the Plata project. The structures that play a role in the distribution
of intrusions and associated mineralization at Snowline ’s Rogue project also occur at Plata, which
strongly suggests that the mineralization at Plata is closely tied to a larger RIRGS in the region
(Figures 1 and 2). The Aho Zone has been traced along the Plata Thrust Fault for over 800 metres
strike length, a nd downdip to a depth of 580 metres, with drill results such as 711 g/t silver and
6.17% zinc over 1.52m (Table 1). No rock samples have been collected to the east of the Aho
showing despite elevated topography that appears conducive for outcrop exposure. The current
extent of detailed mapping on the property also suggests that over 1 km of the Plata Thrust remains
completely unexplored towards the eastern claim boundary (Figure 1). This is an important
observation and presents a significant opportunity to find additional Aho-style mineralization along
the underexplored Plata Thrust Fault. This has been identified as a top priority target for follow up
exploration at Plata. Future fieldwork will also revisit the area to the northwest of the Aho Zone in
order to identify additional Aho-style mineralization along the Plata and/or Rogue Thrust Faults that
may have been previously overlooked. Sheeted quartz veining within a felsic dyke (Vein Type IV)
was recognized for the first time at Plata in this area in 2023 , which further supports the
interpretation that there may be a buried, mineralized intrusion at Plata analogous to RIRGS
mineralization identified on Snowline’s Rogue project.
Table 1. Known Mineralization (Vein) Types at the Plata Project.
Vein Type I II III IV
Vein
Composition
Argentiferous
sulphide-siderite
vein
Auriferous and
argentiferous
sulphide-quartz-clay
vein
Argentiferous and
auriferous clay
and scorodite
altered quartz
vein
Sheeted quartz-
siderite-sulphide
veins
Description High-grade veins
hosted in
northeast-trending
faults. Veins widen
in dilatant zones
where steeply
dipping faults
Hosted in parallel
structures along
Plata Thrust Fault
Manganese-
bearing siderite
vein with sheeted
quartz veins and
chalcedonic
breccias
developed up to
15 m on either
side of the central
siderite vein
Sheeted
veins only
recently
identified in a
biotite-quartz
monzonite dyke
located between,
and subparallel
to, the Plata and
Rogue thrusts
Vein Width cm’s to 10’s m 0.3 – 3 m Up to ~30 m cm-scale
Best Intercepts
/ Grades
Drilling returned
453 g/t Ag, 2.09%
Pb, and 17.46% Zn
over 2.35 m from
the P2 showing, as
well as 151 g/t Ag,
0.16 g/t Au, 0.09%
Pb, and 1.42% Zn
over 12.61 m that
includes 1655 g/t
Ag, 0.46 g/t Au,
0.25% Pb, and
1.09% Zn over 1.0
m
Drilling returned
711 g/t Ag, 4.57 g/t
Au, 7.24% Pb, and
6.17% Zn over 1.52
m, and 1244 g/t Ag,
4.25 g/t Au, and
6.6% Pb over 0.96 m
Chip sampling
returned 344 g/t
Ag over 0.85 m
Elevated Ag-As-
Pb-Zn
Showings P1, P2, P6 P3, P4 P2B P17
Figure 1. Map of the Plata property highlighting the extent of current detailed mapping on the property, as well as high
priority target areas for follow up work.
The Company increased its land position at Plata in 2024 by adding 1,338 hectares to the project
area over a magnetic low geophysical signature in the southern portion of the property (Fig. 2).
Diagnostic features of reduced intrusions in the Tombstone Gold Belt are magnetic and conductivity
low geophysical signatures that may be enveloped by a magnetic high due to the presence of
pyrrhotite in the hornfelsed aureoles of the intrusion. This newly acquired ground shares an
important structure that transects Snowline’s Cynthia project, which comprises a 2x2 km zone of
alteration, veining, and elevated gold geochemistry between two Tombstone suite intrusions
(Figure 2). This newly acquired ground at Plata is a high priority exploration target and will be the
subject of a reconnaissance field mapping and sampling program to evaluate the significance of the
geophysical anomaly and any associated alteration and mineralization. Significantly, this area can
be easily accessed by the main road that connects the north part of the property to the Plata airstrip
located to the south.
Figure 2. Regional first vertical derivative magnetic map encompassing Honey Badger’s Plata project and Snowline
Gold’s Rogue project.
Qualified Person
Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, a Director
and technical advisor of the Company (PG, FAusIMM), who is a Qualified Person (QP) for the
purpose of National Instrument 43-101.
About Honey Badger Silver Inc.
Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team
with a track record of value creation backed by a skilled technical team. Our projects are located in
areas with a long history of mining, including the Sun rise Lake project with a historic resource of
12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8
million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade
silver pro ject located 165 km east of Yukon’s prolific Keno Hill and adjacent to Snowline Gold’s
Rogue discovery. The Company’s Clear Lake Project in the Yukon Territory has a historic resource of
5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land
holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver
between 1976 and 2002 (2,3). A qualified person has not done sufficient work to classify the
foregoing historical resources as current mineral resources and the Company is not treating the
estimates as current mineral resources. The historical resource estimates are provided solely for
the purpose as an indication of the volume of mineralization that could be present. Additional work,
including verification drilling / sampling, will be required to verify any of the historical estimates as
a current mineral resources.
(1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08%
copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.0 7%
copper, and 0.51 grams/tonne gold.
(2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
(3) Geological Survey of Canada, 2002 -C22, “Structural and Stratigraphic Controls on Zn -Pb-Ag Mineralization at the Nanisivik
Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis.”
(4) Carlson, G.G., 2010, Technical Report describing Exploration and Development at the Plata Project, located in the Mayo Mining
District, East-Central Yukon, Report Prepared for Platoro West Holdings Inc.
ON BEHALF OF THE BOARD
Chad Williams, Executive Chairman
For more information please visit our website www.honeybadgersilver.com or contact Mrs. Sonya Pekar for
Investor Relations | [email protected] | +1 (647) 498-8244.
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