TORONTO, ONTARIO--(Marketwired - Jul 16, 2014) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("HBE" or the "Company") has completed the interpretation of the geophysical data over the Delhi Pacific copper showing on its Sagar Property. The coincident gravity, magnetic, electromagnetic ("EM") and induced polarization ("IP") anomaly associated with the Delhi showing are typical of those expected from an Iron Oxide Copper Gold ("IOCG") deposit.
The IOCG model is further supported by the presence of a favourable structural setting for an IOCG deposit, namely the abundance of polymetallic showings (copper-gold-silver-cobalt) and the presence of diagnostically verified IOCG hydrothermal alteration.
At the Delhi Pacific showing, historical significant drilling intersections include 45.81 metres @ 0.51% copper and 10.7 metres @ 0.78% copper. While these intersections were not tested for silver, gold or cobalt, historic and recent grab samples* contain up to 1.8 grams per ton ("g/t") gold, and up to 35 g/t silver.
*Grab samples are selective by nature and are unlikely to represent average grades of the deposit(s).
The selection of new drill targets is based on an interpretation of the IP/Resistivity, airborne magnetics, ground gravity and airborne EM data. In the winter of 2014 ClearView Geophysics Inc. completed a Surface Spectral IP survey over part of and extending east of the Delhi Pacific showing (Figure 1).
To view 'Figure 1 - Surface Spectral Induced Polarization survey location lines', please visit the following link: http://media3.marketwire.com/docs/honef10715.pdf
The interpretation indicates an anomaly associated with the historic drilling at Delhi that increases both in intensity and size east of these drill holes for more than 1.5 kilometres. The apparent resistivity data is presented in Figure 2 (red-purple indicates low resistivity and represents the target area):
To view 'Figure 2 - Resistivity Data at Delhi Pacific', please visit the following link: http://media3.marketwire.com/docs/honef20715.pdf
The gravity data indicates that the southwest side of the magnetic high zone at Delhi Pacific coincides with a gravity low feature, whereas to the north is a gravity high. This indicates that the resistivity low/chargeability/electromagnetic target is located along a major structure that represents a favourable event for IOCG mineralization. The target area at Delhi covers more than 3 square kilometres: approximately 1.5 kilometres in strike length multiplied by an average width of 200 metres (Figure 3).
To view 'Figure 3 - Resistivity Data at Delhi Pacific', please visit the following link: http://media3.marketwire.com/docs/honef30715.pdf
To view 'Figure 4 - Magnetic Inversion over Delhi Pacific', please visit the following link: http://media3.marketwire.com/docs/honef40715.pdf
HBE Summer Drill Program
HBE has contracted Norex drilling of Timmins, Ontario to conduct a drill program approximating 5000 metres on the Sagar Property. The summer exploration program currently underway will also include additional sampling, mapping and geophysics.
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.
The Sagar Property 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.
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".
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