Honey Badger Exploration Inc.

Honey Badger Exploration Inc.

October 09, 2014 06:00 ET

Honey Badger Provides Update on Current Exploration Program at Sagar

TORONTO, ONTARIO--(Marketwired - Oct. 9, 2014) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") announces that its geoscientists have completed preliminary mapping, sampling and a ground magnetic survey of the Aureus gold target at the Sagar property in Northern Quebec.

Thirty-four samples (22 grabs and 12 channels) have been collected on the two largest quartz-carbonate vein sets (AV Set 1 and 2) at the Aureus Showing. Additional channel sampling and mapping is ongoing and all samples will be sent for assay analysis upon completion. The shape of the magnetic anomalies identified by the ground magnetic survey matches the structures measured to-date, but so far, nothing significantly magnetic has been observed within the veins to explain the magnetic anomalies. This is important for future drill targeting as it suggests that the vein sets are not just surficial but also extend to depth.

Quentin Yarie, Honey Badger's President and COO, states, "These two sets of veins present a potential for gold mineralization at Aureus. They contain chalcopyrite and chalcopyrite was associated with gold at the Aureus gold target. The pending assay analysis will not only help to direct our on-going exploration program but also identify drill targets on the Aureus zone."

The Aureus Showing was discovered during the summer exploration program and was observed to consist of 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. All the veins exist within two different gabbroic intrusions, one that is medium grained and the other that is coarse-grained. 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.

* This bedrock sample was a selective sample chosen to test for the presence of gold as neither X-ray flurorescence nor X-ray diffraction 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.

AV Set 1 is predominantly comprised of milky quartz with accessory carbonate, pyrite and chalcopyrite. It dips shallowly to moderately (45-60°) and strikes between 200° to 224°. The veins within the set vary from a few centimeters to greater than 2 metres thick and can be mapped for over 40 meters at surface. In some zones of the largest veins, the apparent width can be up to four metres wide. At the contact face with the gabbro, the observed alteration halo is biotite-rich and then evolves to a chlorite-rich zone. Disseminated pyrite and chalcopyrite occur in the alteration halo. Pyritization is extensive and can be observed meters away from the veins.

AV Set 2 is more steeply dipping (80° to 85°) and strikes at approximately 340°. The observed mineralogy of this vein set is more variable. Individual veins can be compositionally zoned and contain quartz-rich layers alternating with carbonate-rich layers. The quartz-rich layers are comprised of translucent to smokey quartz, carbonates and accessory pyrite and chalcopyrite. The carbonate-rich layers exhibit higher sulfide content (pyrite and chalcopyrite).

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 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.

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