Honey Badger Exploration Inc.

Honey Badger Exploration Inc.

August 14, 2014 08:00 ET

Honey Badger Provides Exploration Update at Sagar

TORONTO, ONTARIO--(Marketwired - Aug. 14, 2014) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") is pleased to provide an update on its 2014 Summer exploration program at its Sagar Property in Northern Quebec. The current program includes drilling, ground mapping, magnetometer surveys and on-site geochemical and mineralogical analyses of grab samples. This data, combined with a re-examination of the available historical geological and geochemical dataset, continues to highlight the potential for a polymetallic Iron Oxide Copper Gold ("IOCG") discovery at Sagar. To-date, 2,000 meters have been drilled and assays were received for the first hole.

The summer exploration program traced magnetic anomalies of various sizes (ranging from 200 to 1,000 metres in length) at surface and found they were coincident with pervasive copper-rich magnetite enrichments that are typical of the alteration envelop of an IOCG deposit. The current program also identified the following characteristics that are typical of other IOCG deposits around the world:

  • The association of biotite + magnetite or K-feldspar + magnetite with chalcopyrite in the magnetite-rich copper mineralization
  • The presence of centimeter-wide magnetite veins
  • The discovery of kilometre-long, breccia zones with potassic feldspar and specular hematite alteration
  • Extensive albite (sodic) alteration

Drilling of the Delhi Pacific showing was undertaken to both confirm the extent and grades of the historically reported mineralization and extend the mineralization at depth and along strike. The Delhi Pacific mineralized trend forms a 3 kilometre long geophysical anomaly and remains open at depth and along strike. Zones of copper mineralization were systematically intersected along the geophysical anomaly.

The connection of the Delhi Pacific mineralization with the interpreted IOCG model across the Sagar property is further evidenced by the polymetallic signature of the core (copper, silver, molybdenum, cobalt and gold - observed with X-ray fluorescence) of the mineralized zones of the Delhi Pacific trend, the localized observation of weakly developed magnetite-bearing alteration at surface and the extensive development of biotite and actinolite alteration and copper mineralized hydrothermal breccias.

An inferred extension related to the Delhi Pacific trend mineralized structure was intersected in a drill hole on the Chibtown area, 2 kilometres south-southeast of the Delhi Pacific showing. Significant results from this hole are presented below:

Drill hole From (m) To (m) Length* (m) Copper (Cu) %
CB14-01 70 102 32 0.601%
including 74 94 20 0.893%
459 465 7 0.617%

*Lengths reported above in metres ("m") are drill intersected core and do not represent true widths.

Quentin Yarie, Honey Badger's President and COO states "this intersection confirmed the geophysical predictions and supports the continuity of the Delhi Pacific mineralized corridor 2.5 km to the SSE. We continue to find evidence that points towards a potential IOCG deposit at Sagar."

On-site Quality Assurance/Quality Control ("QA/QC") Measures

All samples were shipped to ALS Minerals Division preparation laboratory in Timmins Ontario. Analyses are being 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. Groups of samples were then placed into durable rice bags that were shipped out when ready. The remaining coarse reject portions of the samples will remain in storage at the ALS in Vancouver as required in the event that further work or verification is needed.

Independent Quality Assurance and Quality Control ("QA/QC") Protocol

A QA/QC program is implemented to monitor all assays from the Summer drilling program. Samples were assembled in batches and were continuously leaving the site for immediate testing. Included in each batch of samples are certified reference standards every 20 samples and blank samples comprised of sterile drill core inserted randomly (approximately every 20-30 samples).

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. (TSX: EGZ) to acquire a 35% to 100% interest in the Sagar Property 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.

Contact Information