Honey Badger Discovers New Silver Veins on the Beaver Property; Expands the Footprint of the Beaver Cobalt Zone
NEWS RELEASE
Honey Badger Discovers New Silver Veins on the Beaver Property; Expands
the Footprint of the Beaver Cobalt Zone
Toronto, Ontario – August 8, 2019 – 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 m ines 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 discover ies along with the previous announced high grade silver intersects in
BM-19-014 of 1,0 04 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, t he Beaver Cobalt Zone was e xtended 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
About the Thunder Bay Silver-Cobalt Project
Honey Badger’s Thunder Bay Silver -Cobalt Project is comprised of the Beaver Silver, Silver
Mountain, and M ink Mountain Silver properties, covers more than 3 7,850 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 ma jor 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 th e 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”) Measures
Drill 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 r emaining coarse reject portions
of the samples remain in storage if further work or verification is needed.
Administrative
In accordance with the Cairngorm Mines Limited options agreement the Company issued
6,000,000 common shares.
Qualified Person
Quentin 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, [email protected]
or
Mia Boiridy, Investor Relations, (416) 364-7029, [email protected]
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.