TORONTO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) announces partial results from drill hole BN-18-004 from its Thunder Bay Silver Cobalt Camp. Please note, drill results are being released as received – resulting in partial assays being available for the hole. The drill hole was targeting the Beaver Mine structure below the known underground workings of the mine. Assays are pending for holes BM-18-01A, BM-18-05, BM-18-07 and BM-18-08, as well as remaining partial assay results for holes BM-18-002, BM-18-003, BM-18-004 and BM-18-006. Partial assays in this case refer to spatial location – not mineral content.
Drilling Highlights:
- Drilling program indicates that high-grade silver mineralization extends below the lower-most level of the Beaver Mine;
- Hole BM-18-004 (Figure 1) contains 292 g/t silver (“Ag”) over 4.43 metres (“m”), including 921 g/t Ag over 1.4m.
- Hole BM-18-004 (Figure 1) contains 0.35% cobalt (“Co”) over 4.5m, including 0.50% Co over 3m.
Quentin Yarie, Honey Badger’s President and CEO, commented: “As results from our spring drill program become available we continue to modify our interpretation of the both the silver and cobalt mineralization. As an example, the cobalt mineralization in this hole occurs at the first sample taken at 21m – we have now sampled and submitted the first 20m for assaying. We are conducting and planning additional exploration in Thunder Bay as we wait for exploration permits for the property.”
Table 1. Assay result highlights from the 2018 drilling program*
| Hole | From (m) | To (m) | Length (m)* | Co (%) | Ag (g/t) | Zone |
| BM-18-004 | 147.43 | 151.86 | 4.43 | 292 | Beaver Mine Extension | |
| Including | ||||||
| 150.46 | 151.86 | 1.40 | 921 | |||
| 21.23 | 25.73 | 4.50 | 0.35 | Beaver Mine Cobalt Discovery | ||
| Including | ||||||
| 21.23 | 24.23 | 3.00 | 0.50 | |||
*Intersection are presented as core length. As it represents a discovery, no true width estimation is currently available for the silver mineralization zone. Additional drilling is required to constrain the true width of the zone.
Current exploration activity on the Thunder Bay Cobalt-Silver Camp
Following the discovery of high-grade cobalt mineralization in the sedimentary sequence, Honey Badger has completed an extensive re-sampling and re-logging program of drill core from the 2018 drilling program.
About Honey Badger’s Thunder Bay Cobalt-Silver Camp
Honey Badger’s Thunder Bay Cobalt-Silver Camp is comprised of the Beaver Silver, Silver Mountain, and Mink Mountain Silver properties which 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.
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 discoveries:
- Geophysics and drilling uncovered >2 km “Five-element” vein (polymetallic veins that can contain, amongst others, silver, cobalt, copper, nickel, lead and zinc) at the Beaver Mine; and
- Airborne geophysics identified numerous targets on the project’s land package that exhibit the same response as the historic Beaver Mine “Five-element” vein.
On-site Quality Assurance/Quality Control (“QA/QC”) Measures
Grab 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”.
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.
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