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HONEY BADGER STRATEGICALLY ADDS TO LAND POSITION AT PLATA, YUKON; IMPORTANTLY IDENTIFIES NEW “RIRGS” (ROGUE) TYPE TARGET

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HONEY BADGER STRATEGICALLY ADDS TO LAND POSITION AT PLATA, YUKON; IMPORTANTLY IDENTIFIES NEW “RIRGS” (ROGUE) TYPE TARGET

 

 

 

 

 

Honey Badger Silver Inc. (TSX-V: TUF) announces the acquisition of additional claims adjacent to its wholly owned Plata Project in the Yukon Territory.  Recent compilation work on the Company’s Plata Project has confirmed similarities to the adjacent exciting Rogue Project owned by Snowline Gold (TSX-V: SGD). Rogue appears to be one of the most exciting and potentially one of the largest recent mineral discoveries anywhere in the world.

 

 

Honey Badger’s CEO, Dorian L. (Dusty) Nicol, commented, “Plata hosts spectacular high grade silver mineralization, traditionally interpreted as a Keno Hill analogue.   Recent mapping and compilation work confirm the similarity of Plata geology to the geologic setting at Snowline Gold’s adjacent Rogue Project where, about 30km east of Plata at the Valley discovery, recent drilling has intersected exceptional gold intercepts such as 2.48 gpt Au over 553.8 meters.  G eologic mapping during the last field season led to our current interpretation of Plata as being related to the same style of mineralization as at Valley.  Our observations at Plata fit into a mineralization zoning model indicating that surface vein mineralization at Plata is the periphery of a RIRGS mineralizing system.  This significantly expands the discovery potential at Plata.  Our new claims cover a geophysical magnetic low which we interpret as representing a possible buried intrusion that fed the mineralizing system.”

 

 

The new claims are adjacent to the Plata Project, comprise 69 individual claims covering 1,430 hectares, and cover the heart of the geophysical magnetic low (See Figure 1).

 

Figure 2 shows the location of the Plata claims in relation to Snowline’s Rogue Project.

 

The claims were staked by ECEE Money Ltd. a private corporation controlled by W. Douglas Eaton, a former director of Honey Badger, with the concurrence and knowledge of Honey Badger.  ECEE has transferred ownership of the claims to Honey Badger at no cost, subject to a 2% net smelter royalty on future commercial gold production.  The NSR applies only to gold.

 

 

Qualified Person

 

 

Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company’s CEO (PG, FAusIMM), who is a Qualified Person for the purpose of National Instrument 43-101.

 

 

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 Indicated and 13.9 Moz of silver 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)

 

  • 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.
  • Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead.
  • 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.”
  • A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic tonnage estimate cannot be relied upon. Additional work, including verification drilling / sampling, will be required to verify the estimate as a current mineral resource.

 

Posted March 8, 2024

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