Welcome!

News Feed Item

Honey Badger Identifies Geochemistry Associated With IOCG (Iron Oxide Copper Gold) Mineralization on its Sagar Property in Northern Quebec

TORONTO, ONTARIO -- (Marketwired) -- 07/03/14 -- Honey Badger Ltd (TSX VENTURE:TUF) ("HBE" or the "Company") has received all geochemical analyses for samples collected during its winter field program on the Sagar Property. The metal associations, alteration mineral assemblages and alteration facies identified are typical of those associated with Iron Oxide Copper Gold (IOCG) mineralization. These results indicate that the mineralization found at Sagar is more extensive than previously thought, and that the mineralized occurrences are genetically related.

Anomalous IOCG Metal Associations Identified

During the course of the exploration program, 169 grab samples were collected along strike of previously identified mineral showings. Grab sample assay results indicate the presence of metals associated with an IOCG system. Specifically, the samples have anomalous copper (Cu; up to 7.36% at the Delhi Showing), gold (Au; 500 ppb at the Delhi Showing), silver (Ag; up to 24.9 g/t at the Delhi Showing) and cobalt (Co; up to 0.66% at the Tache Lake Showing)(i).

The grab samples were collected from an area running along the strike length of mineralization at both the Delhi and Tache Lake Showings and extending 400 and 300 metres respectively to the east. Preliminary geophysical interpretations indicate that the mineralization appears to extend even further along strike but is covered by overburden.

(i)Grab samples are selective by nature and are unlikely to represent average grades of the deposits.

IOCG Alteration Minerals Identified Through Thin Section Analysis

A total of 54 thin section samples were collected during the program from representative rock types in order to characterize the style of mineralization at Sagar. Analyses of the samples revealed alteration minerals consistent with an IOCG alteration assemblage. Specifically, the alteration minerals albite, calcite, dolomite, quartz, hematite, biotite, actinolite, magnetite, titanite, white mica tourmaline and epidote were identified.

IOCG Alteration Facies Identified Through Geochemical Analysis

A total of 169 grab samples, and 623 grab and historic drill core samples were analyzed from the exploration program in order to characterize the alteration mineral assemblages through geochemistry. The alteration facies observed over the Sagar Property has all the alteration facies expected in an IOCG system.

Quentin Yarie, HBE's President and COO stated, "We are extremely pleased with these geochemical results. Our Sagar Property shows all the characteristics of an IOCG deposit - the presence of a favourable structural setting, the abundance of polymetallic showings (copper-gold-silver-cobalt) and now, through geochemical analysis, the confirmed presence of diagnostic IOCG hydrothermal alteration".

On-site Quality Assurance/Quality Control Measures

All grab and core samples were shipped to ACTLABS preparation laboratory in Timmins, Ontario. Analyses were performed in the ACTLABS laboratory in Ancaster or Timmins, Ontario. All historic 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 remain in storage at the ACTLABS preparation laboratory storage facility in the event that further work or verification is needed.

Independent Quality Assurance and Quality Control Protocol

A QA/QC program was implemented to monitor all assays from the exploration program. Grab and historic samples were assembled in batches and sealed prior to shipping. Included in each batch of samples were certified reference standards every 20 samples and blank samples inserted randomly (approximately every 20-30 samples).

About the Sagar Property

The Sagar Property is comprised of 377 claims totalling 107 square kilometres within the Labrador Trough, 200 kilometres north of Shefferville, Quebec. Historically, the property has had high-grade gold and copper showings.

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 grams/tonne gold.

Administration

The Company granted a total of 2,780,000 stock options to directors, officers and consultants of the Company on July 2, 2014 under the terms of the incentive stock option plan of the Company filed with the TSX Venture Exchange and approved by shareholders at the last Annual General Meeting of Shareholders of the Company held on June 30, 2014. All options are exercisable at a price of $0.10 per share for a period of 18 months and are subject to a four-month and one day hold period from the date of issuance.

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 Quebec 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Cloud computing is certainly changing how people consume storage, how they use it, and what they use it for. It's also making people rethink how they architect their environment," stated Brad Winett, Senior Technologist for DDN Storage, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that’s no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, will explore how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He wi...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
In the enterprise today, connected IoT devices are everywhere – both inside and outside corporate environments. The need to identify, manage, control and secure a quickly growing web of connections and outside devices is making the already challenging task of security even more important, and onerous. In his session at @ThingsExpo, Rich Boyer, CISO and Chief Architect for Security at NTT i3, discussed new ways of thinking and the approaches needed to address the emerging challenges of security i...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, will discuss th...
“Why didn’t testing catch this” must become “How did this make it to testing?” Traditional quality teams are the crutch and excuse keeping organizations from making the necessary investment in people, process, and technology to accelerate test automation. Just like societies that did not build waterways because the labor to keep carrying the water was so cheap, we have created disincentives to automate. In her session at @DevOpsSummit at 20th Cloud Expo, Anne Hungate, President of Daring System...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Given the popularity of the containers, further investment in the telco/cable industry is needed to transition existing VM-based solutions to containerized cloud native deployments. The networking architecture of the solution isolates the network traffic into different network planes (e.g., management, control, and media). This naturally makes support for multiple interfaces in container orchestration engines an indispensable requirement.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, discussed the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insights from the vast t...