Honey Badger Exploration Stakes Additional Polymetallic Silver, Gold, Zinc, Lead, and Cobalt Properties in Historic Camp
TORONTO, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Honey Badger Exploration Inc. (TSX-V:TUF) (“Honey Badger” or the “Company”) has staked additional land positions in Thunder Bay. The Mink and Silver Mountain properties are located in the historic Thunder Bay Silver District and include the past-producing silver-bearing veins of the Silver Mountain group of mines. The properties are ideally located close to roads, power lines, infrastructure, and skilled labour force (Figure 1).
|
|||||
About the Mink and Silver Mountain Properties
The properties, comprised of 2 claim blocks, are located within a prospective and under-explored silver, cobalt, zinc, lead and gold district. Polymetallic silver deposits occur in two main districts in Ontario; that of Timiskaming near the town of Cobalt (the Cobalt Silver District) and that of northwest Lake Superior near the city of Thunder Bay (the Thunder Bay Silver District).
The first Ontarian silver discoveries were made in the Thunder Bay Silver District, as early as the 1840s, and were actively mined through the later part of the 19th century (Szetu, 1981). Because of falling silver prices in the late 1800s and because attention was diverted to the Cobalt Silver District, silver mining in Thunder Bay eventually ceased (Oja, 1966). However, the historic Silver Islet, Silver Mountain and Rabbit Mountain group of mines, exploited late in the 19th century, are indicative of the potential for silver, cobalt, zinc, lead and gold in the District.
The geological setting of the Mink and Silver Mountain properties make them a prime target for high-grade polymetallic silver mineral exploration (Figure 1). Both properties include veins from the Mainland Vein Group, which extends from Iron Range Lake to Thunder Bay (Franklin et al., 1986). Some of the silver veins of the Mainland Group include cobaltite (CoAsS), suggesting that the veins of the region are prospective to host cobalt-rich silver mineralization similar to those of the Cobalt District (Table 1).
Additional parallels exist between the Thunder Bay and Cobalt Districts’ polymetallic silver mineralization. Both formed in a sedimentary sequence capping Archean rocks and both have a spatial association with diabase sills emplaced in an extensional setting (Potter, 2009).
Honey Badger’s Silver Mountain property is approximately 50 metres south of the Silver Mountain Group of deposits which produced 700,000 oz of silver from 1888-1903 and in 1911 (Franklin et al., 1986). The Silver Mountain Group was also mined for stucco dressing in 1924 (Franklin et al., 1986). The veins in Silver Mountain were up to 1,500 m in strike length, trending east-west (Franklin et al., 1986). The historical Mink and Silver Wolverine mines also fall within Honey Badger’s Mink property claims. Little is known about these historical mines and their historical silver production and grade.
Table 1. Mainland Group Silver Deposit Minerals (Franklin et al., 1986)
| Sulphides | Sulphantimonides | Sulpharsenides | Native Metals | Others |
| Pyrite | Pyargyyrite | Cobalite | Sliver | Calcite |
| Marcasite | Stephanite | Arsenopolybasite | Allemontite | Quartz |
| Sphalerite | Flourite | |||
| Galena | Barite | |||
| Chalcopyrite | ||||
| Acanthite |
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”.
On December 20, 2017, Honey Badger announced that it had entered into a non-binding letter of intent with Cairngorm Mines Limited regarding an option to acquire a 100% interest in the Beaver Silver Property, also located in the historical Thunder Bay Silver District. The Beaver Silver property covers some of the most productive silver-bearing veins of the Rabbit Mountain group of deposits including the past-producing high-grade Beaver Silver Mine (Franklin et al., 1986).
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.
A map accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/af27f17d-11e7-4433-b488-e20367124be0