Toronto, Ontario – November 15, 2016 -Honey Badger Exploration Inc. (TSX-V: TUF) (“Honey Badger” or the “Company”) is pleased to announce results from the helicopter-supported magnetic geophysical survey on its LG Diamonds Project announced on May 17, 2016. Modelling of the aeromagnetic data collected confirms that the 9 previously identified magnetic anomalies on the property have the potential to be kimberlites.
The airborne survey was undertaken to improve the spatial resolution of the circular anomalies to pinpoint targets for diamond drilling. Results show that the anomalies have an elongated to circular shape and extend to over one kilometre in depth. Two anomalies are “twinned” and fieldwork confirmed that most of the anomalies are located in topographic depressions. Overall, these attributes correspond to those of known kimberlite targets.
Prospecting samples demonstrate a number Cr, Co, Ni and Mg anomalies commonly associated with first order transitional element anomalies (Mg, Ni, Cr, Co, V, Mn, Fe) commonly associated with kimberlite-type anomalies. In particular, the KB-7 target is anomalous to strongly anomalous with respect to Cr, Co and (1.45 % nickel, 122 ppm cobalt and 3690 ppm chromium).
Quentin Yarie, President & CEO, commented: “The occurrences of multiple indicator minerals and chemical anomalies in lake sediments indicative of kimberlites, the spatial association of the LG targets with large structures hosting known kimberlites and the attributes of the targets defined with the new aeromagnetic surveys and surface sampling program further emphasize the potential of the LG Diamonds Project to host kimberlites.”
About Honey Badger Exploration Inc.
Honey Badger Exploration is a diamond and gold 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”.
The Company is currently focused on the advancement of the LG Diamonds Project located in the James Bay region of Quebec:
- Total of 55 claims covering 2,765 hectares
- 9 claim blocks are centered on circular magnetic anomalies
- Each magnetic anomaly could be a potential kimberlite pipe
- Lake sediments near the magnetic anomalies contain kimberlite indicators
- The local geological environment is favourable for diamondiferous kimberlites
- Exploration agreements are in place with local First Nations
Quentin Yarie, P.Geo., is the qualified person in regard to the technical data contained within this news release and has approved the scientific and technical content of this news release.
For more information about the Company visit http://www.honeybadgerexp.com
Quentin Yarie, President & CEO, (416) 364-7029, email@example.com
Or Mia Boiridy, Investor Relations, (416) 364-7029, firstname.lastname@example.org
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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 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.
Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.