Honey Badger Exploration Stakes Additional Ground at the Beaver Silver Property and Begins Exploration at its Thunder Bay Silver/Cobalt Camp
NEWS RELEASE
January 9, 2018
Honey Badger Exploration Stakes Additional Ground at the Beaver Silver
Property and Begins Exploration at its Thunder Bay Silver/Cobalt Camp
Toronto, Ontario – January 9, 2018 – Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey
Badger” or the “Company ”) has staked an additional 21 mining claims around the 3
Cairngorn Mines Limited patents of the Beaver Silver Property (Figure 1).
The additional claims were staked to cover a strategic 4 km-long segment along a fault zone
interpreted to control mineralization in the Beaver Mine area. The segment of the fault
covered by the mining claims extends from a cluster of historic mines centered on the
Beaver Mine to an un- followed drilling intersection of 1259 g/t Ag over 1 metre (no other
metals assayed). The Company anticipates that additional silver mineralization, including
nickel and cobalt, remain to be discovered along that fault.
Similarities to Cobalt Ontario
A report filed with the Bureau of Mines in 19131 compared the minerals of the Port Arthur
silver mines (Thunder Bay, ON) with those of the Temiskaming veins (Cobalt, ON) and
found the following commonalities:
• Native elements: Native silver, native bismuth, graphite.
• Arsenates: Cobalt bloom, annabergite.
• Sulphides: Argentite, zinc blende, galena, pyrite, marcasite, pyrrhotite, chalcopyrite,
copper glance.
Also, “The vein filling materials are quartz, barite, calcite, dolomite, rhodochrosite and
Fluorite.” (T. Macfarlane, "Am. Inst. M. E.", Vol. VIII. 1S79-80, page 238)
Quentin Yarie, Honey badger’s President and CEO commented, "We are excited to have
secured a large land package in the historic Thunder Bay Silver District. The geology of the
area bears many similarities to that of the Cobalt District and we believe that there is a good
potential here for new discoveries of cobalt and high-grade silver mineralization. Our team’s
expertise with modern, state-of-the-art, exploration techniques will be invaluable as we
embark on a comprehensive exploration program on our new Thunder Bay Silver/Cobalt
Camp.”
1 REPORT OF THE BUREAU OF MINES VOL. XIX., PART II., The Cobalt-Nickel Arsenides and Silver
Deposits of Temiskaming (Cobalt and Adjacent Areas), WILLET G. MILLER, Provincial Geologist, 1913
Honey Badger’s Thunder Bay Silver/Cobalt Camp
Honey Badger’s land package in the historic Thunder Bay Silver District now totals 55.6 sq.
kilometres (Figure 2) . It includes the newly expanded Beaver Silver Property and an
additional 2 claim blocks - the Mink and Silver Mountain Properties as announced on
January 3, 2018. All three properties will now be referred to as the Company’s “Thunder
Bay Silver /Cobalt Camp”. Honey Badger will commence exploration of the Thunder Bay
Silver/Cobalt Camp immediately with an airborne magnetic and electromagnetic
geophysical survey.
Figure 1. Honey Badger’s staked claims
Figure 2. Honey Badger’s properties in the Thunder Bay Silver/Cobalt Camp
Airborne Survey of Honey Badger’s Thunder Bay Silver/Cobalt Camp
Triumph Instruments will conduct an airborne magnetic and electromagnetic geophysical
survey to define conductivity contacts, outline the main breaks of the rock , and help Honey
Badger refine its geological model. A total of ~980 line-kilometres are planned for the
Thunder Bay Silver /Cobalt Camp which includes the past producing Beaver, Mink and
Silver Wolverine mines. The results of the surveys will guide the exploration and drilling
programs for the upcoming winter season.
About the Triumph Instruments EM System
The TS -170 is a concentric helicopter -borne time domain electromagnetic and magnetic
system. It is designed with a rigid airframe to improve data across a range of geologic
settings including areas with rugged topography or that commo nly experience windy
conditions. The system measures the full waveform from a precise and linear triangular
waveform. This results in useful off -time data immediately after the transmitter is turned -
off. It provides a better resolution of the near -surface compared to larger di pole moment
systems that have a delay in the start of the measured off-time because of an unstable shut-
off. Data measured during the transmitter on-time data is processed to remove the primary
field and produces better estimates of co nductance for more conductive targets. The
smaller footprint of the 8.5 m diameter airframe results in better mapping of discrete
targets.
Appointment of new CFO and Board Members
The Company announces that Ms. Petra Decher has been appointed as Honey Badger’s
Chief Financial Officer, and that both Mr. Chad Gilfillan and Mr. Quentin Yarie will join the
Board of Directors effective immediately.
Ms. Decher is a finance executive with over fourteen years experience in the mining
industry. She has a deep understanding of public reporting, corporate governance, and
investor relations. Ms. Decher was the Vice President, Finance and Assistant Secretary
for Franco-Nevada Corporation from 2009 to 2016 and served as a Director at Integra Gold.
Petra is a Chartered Accountant. She completed her Bachelor of Commerce degree at
Concordia University, her Diploma in Accounting at McGill University and articled
at Richter Usher Vineberg (now Richter).
Ms. Decher replaces Marc Johnson, who served as the Company’s Chief Financial Officer
since October 2015.
Mr. Gilfillan is Senior Vice -President at Red Cloud Klondike Strike Inc., an exempt market
dealer focused on providing unique and innovative financing alternatives, growth
opportunities, and market exposure for select mining companies. Mr. Gilfillan is a former
precious metals, energy and resource fund portfolio manager with Natcan Investment
Management and a buy -side mining and energy analyst at TD Asset Management. Prior to
his work in capital markets, he was employed as a consulting engineer having wor ked on
mining projects around the globe and across the resource company cycle: from exploration
to feasibility, construction and operation. Mr. Gilfillan holds a B.A.Sc. in Geological
Engineering from the University of Waterloo. He is a registered Profes sional Engineer and
a CFA charterholder.
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”.
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.
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statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”,
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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
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