Honey Badger Announces Potential IOCG (Iron Oxide Copper Gold) Deposit at Its Sagar Property in Northern Quebec
March 19 2014 - 8:00AM
Marketwired
Honey Badger Announces Potential IOCG (Iron Oxide Copper Gold)
Deposit at Its Sagar Property in Northern Quebec
TORONTO, ONTARIO--(Marketwired - Mar 19, 2014) - Honey Badger
Exploration Inc. (TSX-VENTURE:TUF) ("HBE" or the "Company") is
pleased to announce that initial work on its Sagar Property has
identified the potential for a high tonnage Iron Oxide Copper Gold
(IOCG) deposit on the property. The IOCG model is supported by the
presence of a favorable structural setting for an IOCG deposit, the
abundance of polymetallic showings (copper-gold-silver-cobalt) and
the presence of diagnostic IOCG hydrothermal alteration.
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.
Quentin Yarie, HBE's President and COO, states, "The results
of our preliminary work on our Sagar property are very encouraging.
The targeted sampling of the property last summer confirmed the
grades obtained by historic assay results and further highlight the
gold and cobalt potential of showings that were not tested in the
past. Although the property requires focused exploration work, we
believe our Sagar Property has the potential to be a high-tonnage
IOCG deposit."
Natural Sciences and Engineering Research Council -
Collaborative Research and Development Programs ("NSERC-CRD")
Under a fully funded joint University of Manitoba and NSERC-CRD
research project supported by HBE, Dr. Mostafa Fayek, Professor at
the University of Manitoba and a Canada Research Chair in Isotope
and Environmental Geochemistry, is working with the HBE team to
better define the deposit model for the Sagar property and to
identify the chemical and geological vectors for mineralization. A
progress report on Dr. Fayek's study has been received and HBE is
reviewing it to further its knowledge on the property.
According to Dr. Fayek, "The hematite-chlorite-carbonate
mineral assemblage is (....) consistent with distal,
low-temperature, shallow-late type alteration associated with
deposits such as Olympic Dam."
The Sagar Property showcases an abundance of polymetallic
mineralization zones with surface indications of potential
high-grade mineralized zones, specifically at the Delhi Pacific and
Taché showings.
At the Delhi Pacific showing, historically 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*
from the Taché showing contain over 5 g/t gold, up to 44.7 g/t
silver, 0.83% cobalt, and up to 3.1% copper.
Re-sampling of the Taché and Delhi Pacific showings in 2013
supported the historic assay results. Grab samples* from the Taché
showing assayed 0.55% cobalt, 1.2% copper, 0.48% zinc, 0.05% nickel
and up to 9.2 g/t silver. Delhi Pacific results were up to 7.3%
copper and 24.9 g/t silver.
*Grab samples are selective by nature and are unlikely to
represent average grades of the deposits.
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.
HBE will be working with its team of experts over the next few
months to refine drilling targets based on geochemical, structural
and geophysical analysis. An extensive drilling program is planned
for the summer of 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.
This News Release contains forward-looking statements.
Forward-looking statements are statements which 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.
Cautionary Statement: 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.
Honey Badger Exploration Inc.Quentin YariePresident and Chief
Operating Officer(416) 364-7029(416)
364-2753qyarie@honeybadgerexp.comwww.honeybadgerexp.com
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