Honey Badger Discovers Significant
Near-Surface Cobalt Mineralization; Results
Include 0.26% Cobalt over 10.8 Metres,
Including 0.5% Cobalt over 3.9 Metres
TORONTO, Oct. 04, 2018
(GLOBE NEWSWIRE) -- Honey Badger Exploration
Inc. (TSX-V: TUF) (“Honey Badger” or the
“Company”) has received assay results from
the complete sampling of its Spring 2018
drilling program at its Thunder Bay
Silver-Cobalt Project. Additional sampling
was initiated when cobalt was discovered in
the Rove shale.
Highlights of the complete 2018
sampling program*
-
Discovery of a near-surface zone
of arsenic-free cobalt mineralization at
the contact between a large diabase sill
capping the historic Beaver Mine and the
Rove shale (Figure 1):
-
Schematic long section of cobalt and
silver mineralization intersected near
the Beaver Mine
-
BM-18-004
-
Discovery of 0.38% cobalt
over 3.3 metres including 0.52%
cobalt over 1.5 metres
-
Updated intersection is
0.26% cobalt over 10.8 metres
including 0.5% cobalt over 3.9
metres and 0.52% cobalt over 1.5
metres;
-
BM-18-006
-
Discovery of 0.34% cobalt
over 2.19 metres including 0.61%
cobalt over 1.1 metres
-
Updated intersection is
0.18% cobalt over 8.19 metres
including 0.53% cobalt over 2.6
metres;
Previously announced results
-
Discovery of a near-surface zone
of arsenic-free cobalt mineralization in
the Rove shale;
-
0.085% cobalt over 24.1
metres in BM-18-002 including 0.83%
cobalt over 1.7 metres;
-
0.28% cobalt over 4.6 metres
and 0.28% cobalt over 2.1 metres in
BM-18-003;
-
Discovery of high-grade silver
(“Ag”) mineralization over a possible
strike length of 45 metres beyond the
historic Beaver Mine workings (Figure
2):
-
292 g/t silver over 4.43
metres including 921 g/t silver over
1.4 metres in BM-18-004;
-
682 g/t silver over 2.4
metres including 1254 g/t silver
over 1.2 metres in BM-18-006.
*Intersections are presented as core
length. As it represents a discovery, no
true width estimations are currently
available for the cobalt mineralization
zone. Additional drilling will be required
to constrain the true width of the zone.
Quentin Yarie, Honey Badger’s President and
CEO commented: “The
results of our Spring 2018 drill program
indicate that near-surface, arsenic-free
cobalt mineralization is located at the
contact between a large diabase sill that
caps the Beaver Mine and the Rove Shale
unit. Results, including 0.085% cobalt over
24.1m, are also well above the cut-off grade
of 0.03% cobalt used to constrain First
Cobalt’s recently released inferred resource (September
26, 2018) – First Cobalt Corp. Our
next exploration program will target this
newly discovered zone of cobalt
mineralization at the diabase-shale contact
to better understand its extension.”
Table 1. Highlights
of cobalt assay results for the 2018
drilling program (Figure 2)
Hole |
From (m) |
To (m) |
Length
(m)* |
Co (%) |
Zone |
BM-18-002 |
115 |
139.1 |
24.1 |
0.085 |
Cobalt discovery in the
Rove Shale |
Including |
115 |
116.5 |
1.5 |
0.2 |
122.6 |
124.3 |
1.7 |
0.83 |
137.5 |
139.1 |
1.6 |
0.25 |
BM-18-003 |
70.2 |
74.8 |
4.6 |
0.28 |
Including |
70.2 |
73.3 |
3.1 |
0.36 |
96 |
97.1 |
1.1 |
0.2 |
103.6 |
105.7 |
2.1 |
0.28 |
BM-18-004 |
14.93 |
25.73 |
10.8 |
0.26 |
Cobalt discovery at the
Diabase-shale contact |
Including |
19.93 |
19.43 |
1.5 |
0.52 |
20.33 |
2.23 |
3.9 |
0.50 |
BM-18-005 |
6.56 |
16.23 |
9.67 |
0.042 |
BM-18-006 |
9.7 |
17.89 |
8.19 |
0.18 |
Including |
15.29 |
17.89 |
2.6 |
0.53 |
*Intersection are presented as core
length. As it represents a discovery, no
true width estimation is currently available
for the cobalt mineralization zones.
Additional drilling is required to constrain
the true width of the zones.
Figure
2: Location of drill holes with significant
cobalt mineralization
Table 2 - Highlights of copper,
silver and zinc assay results for the 2018
drilling program
Hole |
From (m) |
To (m) |
Length
(m)* |
Cu
(%) |
Zn
(%) |
Ag (g/t) |
Zone |
BM-18-002 |
124.2 |
126.4 |
2.2 |
|
|
65 |
Beaver Mine
Cobalt
Discovery |
113.5 |
115 |
1.5 |
0.92 |
|
|
BM-18-004 |
147.43 |
151.86 |
4.43 |
|
|
292 |
Including |
150.46 |
151.86 |
1.4 |
|
|
921 |
109.13 |
116.86 |
7.73 |
|
0.27 |
|
Including |
112.86 |
113.86 |
1 |
|
0.96 |
|
BM-18-005 |
139.36 |
142.65 |
3.29 |
|
0.091 |
57.7 |
BM-18-006 |
168 |
170.4 |
2.4 |
|
0.16 |
682 |
Including |
169.2 |
170.4 |
1.2 |
|
0.28 |
1254 |
Cobalt-Silver
mineralization at Honey Badger’s Thunder Bay
Silver Project
The results from the infill sampling show
that the zones of significant cobalt
mineralization are preferentially formed
along favourable geological contacts, are
devoid of large veins, and have no
diagnostic visual indicators.
At the district scale, zones of silver and
cobalt mineralization appear to be
distributed along regional ENE and WNW fault
systems and Honey Badger’s 2018 exploration
program to date has identified that
significant cobalt and silver mineralization
can occur in all the geological units of the
area. Proximal to the historic mines, the
metals seem to be either be distributed
along favourable geological contacts, or in
veins.
Current exploration program on the
Thunder Bay Silver Project
Honey Badger’s 2018 work has shown that only
systematic sampling of all geological units,
combined with multi-element analyses, can
identify zones of mineralization. To date,
the Company’s thorough approach has resulted
in the discovery of significant zones of
silver and cobalt mineralization and the
Company is confident that its approach will
lead to further discoveries as it advances
exploration at its Thunder Bay Silver-Cobalt
Project.
Based on the results to date, the Company
will initiate a follow-up drilling program
once permits are received. The main targets
of the exploration program will be the zones
of high-grade silver mineralization
discovered below the workings of the Beaver
Mine and the zone of cobalt mineralization
at the diabase-shale contact. Additional
targets with favourable geological,
geochemical and geophysical attributes may
also be tested.
About Honey Badger’s Thunder Bay
Silver Project
Honey Badger’s Thunder Bay Silver
Camp is comprised of the Beaver Silver,
Silver Mountain, and Mink Mountain Silver
properties, 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.
There are two main polymetallic vein groups
in the Lakehead Region - the Mainland and
Island vein groups that were historically
mined for silver, cobalt, copper, nickel,
lead and zinc. Some of the veins also
produced gold. The Island Vein group
produced a total of 3,188,297 oz silver with
most of that production coming from the
Silver Islet Mine. The Mainland Group of
silver veins produced 1,991,314 oz silver.
The polymetallic silver veins in the region
are most often found hosted in sediments,
most notably the upper Rove Unit, near or
within diabase intrusions. This geological
setting parallels the other major silver
district in Ontario - the Cobalt Silver
District.
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 on its
Thunder Bay Silver Project in March 2018 and
has already made several promising
discoveries.
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