Honey Badger Silver Deploys A.i. Geophysical Tool at Flagship Plata Project, Targeting “Snowline Style” Mineralization
HONEY BADGER SILVER DEPLOYS A.I. GEOPHYSICAL TOOL AT FLAGSHIP
PLATA PROJECT, TARGETING “SNOWLINE STYLE” MINERALIZATION
White Rock, British Columbia, June 20, 2024 – Honey Badger Silver Inc. (TSXV:TUF | OTCQB:HBEIF)
(“Honey Badger” or the “Company”) believes it has identified a “Snowline-style” geologic target at
its Plata Project, located adjacent to Snowline Gold Corp.’s major discovery in the Tintina Gold Belt
of the Yukon Territory.
In a news release dated March 5, 2024 , Honey Badger announced that it was increasing its land
position at Plata to cover a geophysical anomaly (magnetic low), interpreted as a possible intrusive
source of high-grade Plata silver & base metal mineralization. In a news release and webinar dated
March 7, 2024 , the company discussed in detail the theory that Plata fits the Reduced Intrusive
zonation model defined at Snowline’s Rogue Project, with the critical link provided by discovery of
intrusive-hosted Type IV veins during the 2023 field season. The Company believes these new leases
extend to prospective areas identified by combining this model with existing geophysical data.
Honey Badger has engaged ExploreTech (www.exploretech.ai) to analyze geophysical data at Plata
to refine the highest-potential targets. ExploreTech is an innovative geoscience computing company
founded by Stanford alumni geophysicist Alex Miltenberger PhD and geologist Tyler Hall PhD.
ExploreTech uses innovative data interpretation methods including proprietary xFlare™ technology
to interpret geophysical data in conjunction with geologic data. This methodology has been
successful in siting drill holes which intersected mineralization in multiple geologic settings. At Plata,
their work is expected to provide insight as to the possible shape, size, and location of a buried
intrusion which would represent a significant mineralized target.
The Company’s CEO, Dorian L. (Dusty) Nicol, commented:
“We interpret Plata as being related to the same style of mineralization as Snowline Gold Corp.’s
Rogue Project. The work that ExploreTech will do for us using proprietary cloud -based computing
technology will help identify potential targets related to the buried intrusion believed to be the cause
of the geophysical anomaly covered by our recently acquired claims. We will receive the results of
this analysis before beginning summer field work at Plata in July . The objective of this year’s field
program is to identify drill targets with a program of geologic mapping and sampling focusing on
the intrusive-hosted veins discovered in 2023. We now interpret the ‘smoke’ represented by high-
grade silver mineralization at surface as coming from a large ‘fire’ that is not far away. The
upcoming work will help us to vector in that direction. Engaging ExploreTech is also another
illustration of Honey Badger’s commitment to using innovative concepts to cost-effectively advance
projects and create asset value.”
Plata is a large, intensely mineralized property with significant historic produ ction and silver
occurrences of exceptionally high grade. When operating in the 1980s , mined ore was sufficiently
high grade to justify being flown to Idaho for processing. Records indicate yield of 9,020 kg (290,000
oz) of silver from a reported 2,041 tonnes of hand sorted material, equivalent to a recovered silver
grade of approximately 4,420 grams per tonne (g/t) silver. There are 32 known silver occurrences
at Plata with grades up to 19,000 g/t silver and 78 g/t gold , plus extensive un- drilled base metals
geochemical anomalies.
Plata benefits from strategic infrastructure, hosting the only airstrip in the area, which also provides
access to the Snowline Gold project. The Plata Access Track, while not entirely controlled by Honey
Badger, is the only surface link. The district is part of the Tombstone Gold Belt, which includes Sitka
Gold Corp., Victoria Gold Corp., and Snowline Gold Corp., and is being recognized as an area of rich
mineral endowment and tremendous exploration potential. Plata is in the center of this rapidly
emerging region.
Initial exploration work at Plata confirmed the presence of high- grade silver veins at surface and
exploration was driven by analogies to the rich Keno Hill Silver Mine in the Yukon, one of the highest-
grade silver deposits in the world, now being operated by Hecla Mining. While the analogy to Keno
Hill remains valid, the Company in recent months has completed a re -interpretation of data which
led to the recognition of Plata as a possibly part of a larger “Snowline -style” mineralized system.
This adds the potential for a large gold deposit at Plata in addition to known high- grade silver and
base metals.
Location map:
Intrusive-hosted veins:
About Honey Badger Silver Inc.
Honey Badger Silver is a mining consolidation, roll-up, development, and holding company that has
assembled a remarkable portfolio from a modest capital base over the past three years . 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 Sunrise 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 project 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 for egoing historic resources as current mineral resource s and the
Company is not treating the estimate as a current mineral resource. The historic resource estimates
cannot be relied upon. Additional work, including verification drilling / sampling, will be required to
verify the estimate as a current mineral resource.
(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, 0.07% 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.”
ON BEHALF OF THE BOARD
Dorian L. (Dusty) Nicol, CEO
For more information please visit our website www.honeybadgersilver.com or contact Ms. Michelle Savella
for Investor Relations | [email protected] | +1 (604) 828-5886.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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