TORONTO, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) has been approved for the Ontario Prospectors Association’s (OPA) Junior Exploration Assistance Program (JEAP), with a grant totalling $138,760 which will be spent at the company’s flagship Thunder Bay Silver/Cobalt Camp.
The JEAP is funded by the Northern Ontario Heritage Corporation (NOHFC), and is administrated by the OPA. The program encourages junior explorers with a market capitalization under $5.0 million to develop mineral projects in Northern Ontario. The Company’s Beaver Property was approved for the maximum JEAP funding of $100,000. The Company’s Silver Mountain Property was approved for $38,760.
Located in the historic Thunder Bay Silver District, the Company’s Thunder Bay Silver/Cobalt Camp includes multiple past-producing polymetallic silver – gold – cobalt – zinc – lead veins. The work planed for the project will primarily focus on defining the structural geology which appears to control mineralization.
The Company has devised a systematic exploration program that will be carried out in the coming months. Airborne geophysics, including electromagnetic and airborne magnetic surveys, will be flown over the properties to pinpoint geophysical contrasts and define main structural controls. Field work will then be focused on the geophysical targets. Rock samples will be collected and analysed using a Shortwave Infrared Spectrometer (SWIR) to examine alteration and subsequently assayed. Following the geophysical analysis, geochemical analysis and historical data compilation, drill targets will be selected for both properties. A diamond drilling program is planned for the upcoming Winter 2018 season.
The work funded by JEAP must be completed by March 30th, 2018, with final reporting due June 1st, 2018.
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”.
Honey Badger’s has secured an extensive land package in the historic Thunder Bay Silver District that totals 55.6 sq. km. The Company’s flagship “Thunder Bay Silver/Cobalt Camp” includes the newly expanded Beaver Silver Property (Jan. 9, 2018 News Release) and an additional 2 claim blocks - the Mink and Silver Mountain Properties as announced on January 3, 2018.
The geological and mining history of the Thunder Bay Silver district indicate a high potential for new discoveries in the region. The region remains under-explored or un-explored with modern exploration techniques and the Company considers that there is a good potential to discover additional silver mineralization, including nickel and cobalt, at its newly acquired properties.
For more information, please visit our website at http://www.honeybadgerexp.com.
Or contact:
Quentin Yarie, President & CEO, (416) 364-7029, qyarie@honeybadgerexp.com
or
Mia Boiridy, Investor Relations, (416) 364-7029, mboiridy@honeybadgerexp.com
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.