TORONTO, ONTARIO--(Marketwired - Sep 10, 2014) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") outlines its 2014 Fall Exploration Program, targeting potential polymetallic Iron Oxide Copper Gold ("IOCG") and lode gold discoveries at its Sagar Property in Northern Québec. The company has established three priority IOCG targets and two main gold targets, with plans to commence exploration work in September 2014. Exploration work will include Diamond drilling, bedrock sampling, channel sampling, mapping and continued structural analysis. A presentation on the Sagar Property will be available on our website at www.honeybadgerexp.com.
The following are brief descriptions of the IOCG and gold targets, and map highlighting the location of the targets and the two main structural domains identified on the property to date:
New Insights from the Summer 2014 Exploration Program
IOCG TARGETS:
Waterfall, Lac Plisse and Raven
Surficial mapping and prospecting delineated a series of moderate to strong IOCG alteration centers distributed along a structural boundary between the two main structural domains and into Structural Domain 2. IOCG alteration extends to the Delhi trend and contributed to the formation of the observed mineralization. In the Lac Plisse, Raven and Waterfall areas, systematic measurements with handheld x-ray fluorescence ("XRF") and historical assays on grab samples show gold and pervasive copper enrichments in the vicinity and within the identified IOCG alteration zones. The Waterfall target is well defined and will be drilled as part of the company's exploration program beginning in late September. Furthermore, detailed mapping and sampling will be completed on all three IOCG targets.
GOLD TARGETS:
Aureus
A new lode gold showing (the 'Aureus Showing') was discovered, with surficial quartz-carbonate veins varying from 0.3 metres to greater than 2 metres in thickness within a shear zone that was traced on surface for over 130 metres and is visible in air photos for over 700 metres. The single sample assayed at the Aureus Showing returned a gold value of 1915 g/t (61.57 oz/t)*, and a silver value of 48.9 g/t. The Company's fall exploration program will include a detailed geologic mapping and sampling program over the Aureus Showing, followed by Diamond drilling.
* This bedrock sample was a selective sample chosen to test for the presence of gold as neither the XRF nor the XRD are considered reliable for this metal. The grades and mineralization present are not necessarily representative of other mineralization that may be identified on the property.
Kish and Eagle
Significant effort has been spent over the years at Sagar searching for the elusive source of the Boulder Field area. The new structural and mineralogical examination conducted this summer has determined that the boulders have the same mineralogical makeup as Structural Domain 2. These analyses strongly suggest that the boulders were from the same trend as the Kish and Eagle showings within Domain 2. The boulders within this area have gold assays ranging from 11.7g/t to 640 g/t with an average of 64.9g/t gold in the 70 mineralized boulders sampled.
Figure 1 illustrates the Fall 2014 IOCG and lode gold exploration targets in relation to structural domains.
To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/TUF0910.pdf
Delhi Pacific Update
A combination of drilling and geophysical analysis of the Delhi Pacific showing confirmed the extent and grades of historically reported mineralization, as well as extending the mineralization at depth and along strike for at least 3 kilometres. With insights from the 2014 Summer Exploration Program, Honey Badger will focus its 2014 Fall exploration efforts on the previously identified IOCG and gold targets.
Fall Work Program 2014
The upcoming work program in late September 2014 will consist of bedrock sampling, channel sampling, mapping and continued structural analysis as well as approximately 2,500 metres of Diamond drilling, The drilling will begin on the Lac Plisse, Raven and Waterfall zones as these are interpreted to offer the greatest potential for an IOCG discovery. The Aureus zone will be mapped and additional samples taken with the objective of also drilling on this zone during the fall program. The potential source of the Boulder Field will be subject to additional sampling and structural analysis and if warranted some limited drilling will be done during this program.
Additional Information about the Sagar Property
New Structural Interpretation
Structural geologic mapping, in conjunction with geophysical and remote sensing analyses, determined that the Romanet Horst - the geologic structure that hosts the Sagar Property, consists of at least 3 different structural domains. This interpretation is significant as it not only constrains target areas but it also assists the Company in the prioritization of structural 'traps' which provide the potential to find mineralization in volumetric significant quantities.
Geophysics Enhances Targeting
Three-dimensional ("3D") inversions of the magnetic, gravity and tipper data identified 15 targets across two of the structural domains. These were prioritized based on structural, geologic and geochemical analysis. The targets vary in depth from less than 200 metres to more than 600 metres. The shallower targets are generally more conductive than the deeper targets; however the deeper anomalies appear to be associated with geologic structures that are more consistent with IOCG deposits.
Geologic and Geochemical Advancements
The Summer exploration program determined that the Romanet Horst lies within a regionally mineralized iron oxide alkali alteration system and that it exhibits all the structural and alteration characteristics associated with IOCG deposits. By integrating structural geology, geophysics and alteration mineralogy, the Company has established exploration vectors for 9 discrete target areas. Figure 1 illustrates the Fall 2014 exploration targets in relation to structural domains.
About the Sagar Property
The Sagar Property is comprised of a series of claims totaling 107 square kilometres within the Labrador Trough, 200 kilometres north of Shefferville, Québec. Historically, the property has had high-grade gold and copper showings. It also includes extensive, untested copper and cobalt soil anomalies, which are all potential targets for copper and cobalt mineralized zones. Historical drilling of a small copper soil anomaly in 2007 produced 6.7 metres @ 2.46% copper and 1.50 metres @ 0.25 g/t gold.
Honey Badger has an earn-in option with Energizer Resources Inc. (EGZ.TO) to initially acquire a 35% interest in the Sagar Property with an option to acquire up to 100% in consideration of cash payments, share issuances and work commitment expenditures as outlined in the News Release dated August 5, 2014.
Qualified Person
Quentin Yarie, P.Geo is the qualified person in regard to the technical data contained within this news release and will be responsible for overseeing all aspects of the Company's exploration programs.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada with properties in Québec and British Columbia. The company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information, please visit our website at http://www.honeybadgerexp.com.
Neither 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.
This News Release contains forward-looking statements. Forward-looking statements are statements that relate to future events. 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.