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Honey Badger Exploration advancing large IOCG (Iron Oxide Copper Gold) system with high cobalt values

Friday, 16 May 2014 02:49 AM

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New York, NY / ACCESSWIRE / May 16, 2014 / Honey Badger Exploration Inc. (TSX VENTURE:TUF) (Pink Sheets:HBEIF) is the subject of a Mining MarketWatch Journal Review. Investment Advisor Peter Besler of Industrial Alliance Securities identified TUF.V in an article published by The Northern Miner this May in its quarterly flagship magazine on investing; the qualified Investment Advisor identified Honey Badger Exploration as one of eight top microcap stocks he believes possesses "explosive potential". Investment Advisor Peter Besler cited Honey Badger's Sagar Property as possessing a "potential "Olympic Dam" style iron oxide copper-gold deposit" and said it "may become one of the more exciting exploration programs in Canada". He further stated "cobalt showing could excite investors seeking exposure to electric vehicle investments because battery makers such as Tesla use cobalt in cathodes". TUF.V is focused on advancing its Sagar IOCG (Iron Oxide Copper Gold) Project located within the Labrador Trough, 190 km north of Shefferville, in Quebec. The Sagar Property is 107.3 square kilometers and sits directly at the cross-convergence of two major geological structures that would have channeled large volume of fluids in the Earth crust. Recent data has lead geologists to conclude the Sagar claims have the hallmarks of an IOCG system, a rare type of mineralized system that has the potential to yield world-class economic polymetallic tonnage. Honey Badger Exploration's Sagar Property represents an extremely unique opportunity for people to get in on the front end of a potentially world-class IOCG deposit; conceivably analogous to being involved in Kidd Creek (now one of the largest volcanogenic massive sulfide ore deposits in the world) before its potential was appreciated by the market. Besides a staple of high copper values, very high cobalt values have been identified on Sagar, making it highly prospective for major unique discovery as the market is in need of a stable North American source for cobalt (as an inordinately large percentage of the worlds cobalt currently comes from the war-torn Congo). TUF.V geologists have identified copper-gold-silver-cobalt rich mineralized trends they believe will demonstrate impressive near-surface size and grade this 2014.
 
The full Mining Journal review may be found at http://miningmarketwatch.net/tuf.htm online.
 
Some of the largest deposits in the world are IOCG (e.g. Olympic Dam in Australia; Salobo in Brazil) and their value lays in the cumulative nature of the wide mix of metals found in any given quantity of extracted material. The Sagar property has had the benefit of substantial exploration (including 18,850 m of drilling) from past operators individually chasing specific elements in isolated mineralized occurrences, without knowledge it was a connected IOCG system. Over the years quality data has been generated, the collation of this along with new data (within the last year) including modern geophysics and geochemistry, is turning heads in the geological community as the interpretation from a number of experts has lead to the reclassification of Sagar (as IOCG) and it appears that Honey Badger Exploration is on the cusp of something potentially enormous. There has been a pyridine paradigm shift recently, in that there is a lot of this data available that geologists had never looked at it in the context of IOCG mineralization properly before. Top geologists in their field are making time to associate themselves with Honey Badger's Sagar Project.
 
Volumetrically significant tonnage planned for 2014: Historically there has been a bias in exploration favoring the NW side of Sagar where boulders containing up to 640 g/T gold are located, however it is the SE side of Sagar, such as at the Delhi Pacific (named after 1962 past operator) showing where historically significant Cu mineralization has already been established. Historically significant drilling intersections at Delhi Pacific include 45.81 metres @ 0.51% copper and 10.7 metres @ 0.78% copper, unfortunately never systematically tested for gold or cobalt. Important to understand is that although sizeable in itself, this would represents just a fraction of potential mineralized zones identified and evidence points to substantially more awaits. TUF.V geologists remodeled what was established in historic drilling and are confident they can increase the historic several-fold with only a few drill holes using newly acquired geochemical and geophysical evidences that point where mineralization extends. Using this holistic approach (never employed before) one historical mineralized section alone of the Delhi showing, initially limited to a 50m depth, could be modeled to possibly 300 m vertical depth. The geophysical and geochemical anomaly related to the Delhi showing extends 2.5km kilometers east along. Historic and recent grab samples at Delhi Pacific contain up to 1.8 g/T gold, and up to 35 g/T silver.
 
The Taché showing (also located in the structure related to Delhi Pacific) will also be the subject of exploration efforts in 2014. 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. Although grab samples are unlikely to represent average grades of the deposit, it is important to note that an average grade >0.25% cobalt was encountered and this bodes well considering typical economic deposits specific to cobalt are established at 0.1% to 0.2% cobalt.
 
Infrastructure surrounding Sagar will be receiving a boost near-term from Quebec's Plan Nord revived under the recently elected Liberals government which has a planned paved road coming within 30 km. Maps The planned road will run from Shefferville located 190 km to the south (where rail from big iron deposits in the area go) to port waters north.
 
Upon closing financing Honey Badger Exploration will have completed acquisition of a 75% interest in Sagar, Energizer Resources Inc. will retain 25% as a strategic partner. TUF.V currently has 70,880,717 shares outstanding (plus ~15.5 M warrants and options) and trades with a market cap under C$2.2 million.
 
The full Mining Journal review may be found at http://miningmarketwatch.net/tuf.htm online.
 
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).
 
Contact Information:
James O'Rourke, Editor
Mining MarketWatch Journal
[email protected]

SOURCE: Honey Badger Exploration Inc.  

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