TORONTO, ONTARIO--(Marketwired - Nov 19, 2014) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") announces that it has completed a second round of drilling, mapping, sampling and a ground magnetic program at the Sagar property in Northern Québec.
Quentin Yarie, Honey Badger's President and COO, states "Our exploration program to date confirms that there is good potential for gold mineralization at Sagar, particularly in the Aureus zone. Initial assay results from three selective grab samples that were flown out from the summer program are very promising with these samples assaying 1,915 grams/tonne ("g/t"), 115 g/t and over 2 g/t of gold respectively. We are also encouraged by the fact that the mineralization and alteration assemblages identified at Aureus continue to support the Iron Oxide Copper Gold (IOCG) deposit model at Sagar."
Six diamond drill holes were completed totaling 1,439 metres on a select group of Iron Oxide Copper Gold (IOCG) targets. Additionally, sixty-five samples (42 bedrock grab samples and 23 channel samples) were collected at the Aureus and Saarberg II showings. All the fall program drill core, channel and grab samples are currently en route from Schefferville, Québec to Timmins, Ontario for analysis.
Given the assay result of the first Aureus selective grab sample, the two remaining selective samples, taken from the auriferous quartz vein system in the Aureus zone, were also sent out for analysis. One sample yielded assay values as follows: 115 g/t gold, 44.9 g/t silver along with 0.50 % copper*; the other sample returned >2 g/t gold, 12.6 g/t silver and >1% copper* (over limit assays still pending). The copper content in the higher grade gold sample is diagnostic of the largest quartz-carbonate veins documented in the Aureus zone . This is a parallel vein system to the previously reported selective sample assay at the Aureus Showing of 1915 g/t gold (61.57 oz/t), and a silver value of 48.9 g/t*.
* These bedrock samples were selective samples. The grades and mineralization present are not necessarily representative of other mineralization that may be identified on the property.
Compilation of the historical data indicates that the Aureus gold zone is nested between two corridors of albitisation with variable content of chalcopyrite, pyrite and pyrrhotite (Figure 1). The mineralization assemblage is similar to the mineralization intersected in the Delhi Pacific showing. The Aureus zone has also produced historical samples with elevated gold content. This provides further support for the gold potential of the area. Magnetite-rich 'Kiruna-type'** alteration zones were documented in a gabbroic intrusion located in the same structural zone as the Aureus showing. The strong albitisation combined with the iron oxide alteration are indications that the Aureus zone is related to the inferred IOCG system of the Sagar property.
** Sweden's Kiruna iron ore deposit is characterized by different alteration zones ranging from sodic alterations at deeper levels to potassic, sericitic and silicic alteration in the uppermost portion of the system (Hitzman, 1992)
To view Figure 1. Aureus alteration zones, please visit the following link: http://media3.marketwire.com/docs/AureusFig1.pdf.
On-site Quality Assurance/Quality Control ("QA/QC") Measures
All samples are being shipped to ALS Minerals Division preparation laboratory in Timmins Ontario. Analyses to date were performed in the ALS laboratory in Vancouver, British Columbia. All core samples were selected by the Honey Badger site geologist, and were cut in half by diamond core saw. Individual samples were labelled, placed in plastic sample bags and sealed. Samples were then placed into durable rice bags and are being shipped via rail.
For details about Honey Badger, and the ongoing fall exploration program of IOCG and gold targets at the Sagar property, please view the company's corporate presentation at www.honeybadgerexp.com.
Qualified Person
Quentin Yarie, PGeo. is the qualified person responsible for preparing, supervising and approving the scientific and technical content of this news release and is 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.