Honey Badger Continues to Expand IOCG Potential at Its Sagar Property

equities Canada  |

TORONTO, ONTARIO–(Feb. 27, 2015) - Honey Badger Exploration Inc. ($TUF:CA) (the “Company” or “Honey Badger”) is pleased to announce that it has delineated diagnostic and widespread Iron Oxide Copper Gold (IOCG) indicators associated with pervasive copper and iron oxide mineralisation at its Sagar Property in northern Quebec (Canada). Honey Badger also confirmed and extended the prospective gold mineralized system identified at the Aureus showing.

Waterfall drilling program

IOCG alteration zones were identified at surface during the Summer 2014 field mapping program. Down-hole geochemical analyses and assay results from the Fall 2014 drilling program in the Waterfall area confirmed that these zones extend and intensify at depth.

The following diagnostic IOCG indicators have been identified in the Waterfall area:

  • pervasive copper mineralisation associated with magnetite+biotite+amphibole+K-feldspar enrichments with a downhole extension of up to 31 meters in the basalt and the polymict breccia zones;
  • the intensification and pervasive development over 6 meters of magnetite/specular hematite+K-feldspar +chalcopyrite alteration zones in basaltic rocks;
  • the presence of centimeter-wide magnetite-carbonate-chalcopyrite veins;
  • the identification of intense potassium and iron enrichment (up to 23% Fe2O3) zones in the polymict breccia zones that extends for several kilometres in the Waterfall area; and
  • the Waterfall zone is located at the intersection of two major crustal discontinuities.

The intensification of the IOCG indicators and copper mineralisation in holes WF-14-08 and WF-14-11 provide Honey Badger with a vector to optimize targeting for IOCG mineralisation in the Waterfall area.

Holes WF-14-08 and WF-14-11

These drill holes tested the northern zone of the Waterfall regional aeromagnetic anomaly along strike. Each hole hit different zones of continuous to discontinuous copper mineralization. The observed copper mineralisation is generally associated with pervasive iron oxide alteration and weak to weak-moderate hydrothermal brecciation. Outside of the main copper mineralised zones, whole rock geochemistry also indicates diagnostic and copper-rich to copper-poor IOCG alteration zones with iron content up to 23% Fe2O3 and K2O content up to 11%. Both specular hematite and magnetite were observed in those holes.

Hole From (m) To (m)   Length*(m)   Copper (%)
WF-14-08 27 58   31   0.06
WF-14-08 76 81   5   0.12
WF-14-08 93 102   9   0.26
WF-14-09 109 120   11   0.06
WF-14-09 163 168   5   0.075
WF-14-11 115 126   11   0.12
WF-14-12 112 120   8   0.12

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

To view Figure 1. Location of drill holes, please visit the following link: http://media3.marketwire.com/docs/hb_fig1.jpg

Holes WF-14-10 and WF-14-12

These drill holes were designed to define iron oxide-rich mineralised zones identified in the central zone of the Waterfall aeromagnetic anomaly. Each hole hit predominantly discontinuous to locally continuous zones of copper mineralisation associated with iron oxide enrichments and localised evidences of moderate to moderate-strong IOCG alteration (magnetite-carbonate-chalcopyrite veins).

Hole WF-14-09

This drill hole was designed to test the mineralisation potential in the contact zone between the basalt and the carbonaceous unit. Although the contact zone was proven devoid of continuous mineralisation, this hole intersected weak to moderate zones of IOCG alteration and disseminated copper mineralisation.

Aureus gold showing

Extensive mapping and sampling of the Aureus showing, following the assay results on grab samples of 1915 grams per tonne (“g/t”) gold and 115 g/t gold, confirmed the gold, silver and copper potential of the shear zone. A 0.3 meter-long chip sample returned gold grades of 6.17 g/t gold and a 0.8 meter long channel sample returned 106 g/t silver, 15% copper and 0.57 g/t gold*. Different sets of quartz, quartz-calcite and calcite veins appear to control the polymetallic mineralisation in the Aureus zone.

A mineralised sodic-altered deformation corridor, similar to the one hosting the Delhi Pacific showing, was identified, north of the Aureus showing. Up to 0.33 g/t gold, 1.04% copper and 2.53 g/t silver was obtained in representative grab samples of the mineralised sodic-altered deformation corridor.

* 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.

Delhi Pacific showing

Drilling results obtained at the Delhi Pacific showing confirmed the grades and the thickness of the mineralised zone reported in historic work. Holes DP-14-03 and DP-14-04 also indicate increasing copper and silver grade with increasing depth in the mineralisation zones of the Delhi Pacific showing.

Hole DP-14-06 extended the known mineralisation zone of the Delhi Pacific showing 150 metres eastward along strike and confirmed that the apparent thickness of the mineralised zone is preserved. The observed lower copper grades is likely due to the hole hitting the shallower portion of the mineralized zone.

Drilled within a zone with many indications of IOCG mineralisation, the holes at the Delhi Pacific showing demonstrate the potential of the Sagar property to host high tonnage and continuous low grade IOCG-type copper mineralisation.

Hole From (m) To (m)   Length*(m) Copper (%) Ag (g/t) Au (g/t)
DP-13-04 158.2 254.35   82.9 0.27 0.35 0.08
including 205.15 226.5   21.35 0.505 1.14 0.27
DP-14-04 224 283   59 0.415 1.13 0.02
including 237 259.5   22.5 0.849 2.91 0.04
DP-14-06 137.4 225   87.6 0.12 0.36  
Including 208.6 216.3   7.7 0.58 3.3  

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

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.

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”.

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.

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