Honey Badger Exploration Announces its Fall Exploration Program at the Thunder Bay Silver-Cobalt Project
NEWS RELEASE
Honey Badger Exploration Announces its Fall Exploration Program at the
Thunder Bay Silver-Cobalt Project
TORONTO, Oct. 01, 2019 -- Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) announces that
it will initiate a surface exploration program at its Thunder Bay Silver-Cobalt Project, southwest of Thunder Bay, Ontario in the
coming weeks. The prospecting program follows on the Company’s successful 2018 and 2019 drilling programs that indicated
the lateral extensions of high-grade silver-bearing veins at, and beyond, the Beaver Mine, and proved the continuity of the
structures hosting the historic silver mineralization at the Stewardson and Elgin mines.
Beyond the footprint of the historic Beaver Mine, Honey Badger intersected 1,025 g/t AgEq* over 1.9 metres (true width) and
689 g/t AgEq* over 1.1 metres (true width) ( July 18, 2019 News Release). The Company also intersected 87.8 g/t AgEq* over
1.8 metres (core length) and 90 g/t AgEq* over 2 metres (core length), and 105 g/t AgEq* over 2 metres in satellite structures
near the Stewardson Mine ( Aug. 8, 2019 News Release) (*see Table 1). The upcoming prospecting program will follow, at
surface, the high-grade silver and cobalt structures that were discovered by MacDonald Mines and that were modelled over the
summer.
Beyond the Beaver Property, Honey Badger will also conduct a regional exploration program that will focus on other potential
silver-bearing structures on the Company’s extensive land package. This will include the area south of the Silver Mountain
Mine, where historic drilling intersected 211 g/t silver over 1.37 metres (core length; MNDM assessment file 52A05SW0015;
hole T1). The structures associated to the Mink Mine, the Silver Wolverine Mine, the Star Mine and the Gopher Mine will also
be investigated (Figure 1).
Quentin Yarie, President and CEO of Honey Badger stated: "We have been diligently evaluating all the data from our drill
programs and we’ve compiled an expansive database for our Thunder Bay Project. Taking the time to evaluate data has given
us the ability to strategically prioritize and evaluate our best targets for this upcoming exploration program. Our drill results to
date have indicated that the silver-bearing structures of the historic mines on our land package, extend away from their
workings. Our upcoming surface exploration program will focus on tying all of these structures together. We want to
understand how the high-grade silver mineralization is controlled at our Thunder Bay Silver Project so that we can better
identify drill targets for our next drilling program.”
Figure 1. Planned locations of Fall 2019
prospecting: https://www.globenewswire.com/NewsRoom/AttachmentNg/2ec13111-3127-42d6-a155-f2eb74b2ff59
Table 1. Assays results highlights from the 2018 and 2019 drilling programs
Hole From
(m)
To
(m)
Length
(m)
Estimated
true
width
(m)
Pb
(%)
Zn
(%)
Ag
(g/t)
AgEq
(g/t) Zone
BM-18-006 168 170.4 2.4 1.1 0.16 682 6891 Beaver Vein
BM-19-014
146.5 148.3 1.8 Unknown 0.11 0.29 69.2 87.81 New Vein
179.3 183.3 4 1.9 0.11 0.33 1004 10251
Beaver Vein Including
179.3 181.7 2.4 1.1 0.14 0.42 1674 17011
BM-19-015 99.7 101.7 2.0 Unknown 0.03 87 902 Discovery
SM-19-021 34.1 36.1 2.0 Unknown 0.1 98 1052 Discovery
1AgEq = (Ag (g/t)*0.54$/(g/t) + Zn(wt.%)*24.61$/wt.% + Pb(wt.%)*19.74$/wt.%) / 0.54$/(g/t Ag). Spot metal prices taken after
market closure July 15, 2019
2AgEq = (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
About the Thunder Bay Silver-Cobalt Project
Honey Badger’s Thunder Bay Silver-Cobalt Project is comprised of the Beaver Silver, Silver Mountain, and Mink Mountain
Silver properties. It 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. Since initiating its exploration program in March 2018, the Company has made several promising
discoveries.
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 remaining coarse reject portions of the
samples remain in storage if further work or verification is needed.
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
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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
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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
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whether as a result of new information, future events or otherwise, other than as required by law.