Honey Badger Silver Defines New High Priority Exploration Targets At Its Yava Project, Nunavut
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Thursday, 13 February 2025 01:40 PM
WHITE ROCK, BC / ACCESS Newswire / February 13, 2025 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) ("Honey Badger" or the "Company") is pleased to announce that based on geological and geophysical criteria, six (6) high priority exploration targets have been identified, comprising two (2) high priority conductors (R-6 and R-9), and 11 lower priority conductors located on the current Raptor claim block (see Figure 1) and an additional four (4) high priority conductors (M-1, M-2, M-3 and M-6) and 10 lower priority conductors located on the current main Yava claim (and lease) block (see Figure 2). These targets have not yet been drill-tested.
Conductor M-3, located 1.25km northwest of the Yava Main Zone, has a 500m strike length and is associated at surface with mineralization in outcrop where a grab sample assay in 2007, returned values of 1.2 ppm gold (Au), 4,960 ppm silver (Ag), 3.5% lead (Pb) and 1.5% zinc (Zn)* (see Figure 3).
Another sample, collected in 2004, located 650 m north of the M-3 target/conductor, comprised sulphide-rich mineralization that was later named the Yava North Zone and returned analytical values of 0.17 ppm Au and 3,452 ppm Ag* (see Figure 3). Geological evidence suggests that the silver-rich sulphide mineralization at the M-3 and Yava North zones represent part of a significant volcanogenic massive sulphide (VMS) footwall stringer zone that appears to be a northwestern projection of the Yava Main Zone mineralized horizon. This second mineralized system on the main Yava claim/lease block, along with the remainder of the strike extent of the Yava Main Zone mineralized horizon, represents an additional priority for future exploration at the property.
The identification of these targets enhances the discovery potential of the Yava Project, where the Company tripled its land position by staking claims over favorable ground shortly after acquiring the property in October 2024.
The Company's CEO, Dorian L. (Dusty) Nicol, commented, "The identification of these targets confirms our belief that Yava has tremendous discovery potential above and beyond the currently identified historical resource. The project's location only 45 kilometres from Glencore's Hackett River project, one of the largest undeveloped silver resources in the world (113 million ounces Indicated plus 232 million ounces Inferred) and on the same belt of volcanic rocks, testifies to the favorable geology and discovery potential of Yava. We are continuing data review and planning a field program to field check these new targets and continue advancing Yava toward a new discovery."
Figure 1. High and low priority geophysical targets on the Raptor Zone claim block.
Figure 2. High and low priority geophysical targets on the Yava Main Zone claim/lease block.
Figure 3. Yava Main Zone compilation with priority exploration targets.
*Grab rock samples, by their nature, are selective samples and may not represent underlying mineralization.
About Honey Badger Silver Inc.
Honey Badger Silver is a silver company. 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 foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources.
(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 Mrs. Sonya Pekar for Investor Relations | spekar@honeybadgersilver.com | +1 (647) 498-8244.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ (www.sedarplus.ca) under Honey Badger's issuer profile. 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, and no assurance can be given that such events will occur in the disclosed timeframes or at all. 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.
SOURCE: Honey Badger Silver Inc. |
