Honey Badger Completes Heli-GT Survey and Prospecting on its LG Diamonds Project
TORONTO, ONTARIO--(Marketwired - Jun 8, 2016) - Honey Badger Exploration Inc. (TSX-V: TUF) ("Honey Badger" or the "Company") announces that it completed both a helicopter magnetic geophysical survey and a preliminary sampling program on its Company's LG Diamonds Project located in Northern Quebec.
The new geophysical survey identified numerous isolated circular anomalies. The anomalies are located along interpreted deep major liniments that could represent conduits or pathways for kimberlites. Prospecting and sampling near the targets resulted in numerous potassium rich ultramafic rock units that can be associated with kimberlites. These samples will be sent in for geochemical analysis. No bedrock samples were able to be collected at our highest priority targets as the targets themselves are covered with what appear to be shallow swamps.
Quentin Yarie, President & CEO, commented: "The magnetic model developed from the recent survey has provided promising results, indicating several anomalies extend beyond 1000m depth. The observation of surface depressions associated with magnetic lows supports the potential for kimberlites on the LG diamonds property. We are in the process of finalizing our future drill program based on these results."
Modeling of the newly acquired magnetic data has confirmed the LG targets have magnetic anomalies typical of kimberlite like features. As an example KB3 (Figure 1) is an isolated magnetic low of approximately 300nT with modelled surface dimensions of 212.4 metres X 128.8 metres and interpreted depth extend >1 kilometer. Note: that in the Body Properties boxes the Length (A) and (B) are radii not diameter.
Figure 1: http://media3.marketwire.com/docs/1058234TUF.pdf.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and diamond exploration company headquartered in Toronto, Ontario, Canada with properties in Québec and British Columbia. The newly acquired Wemindji claims total 29 claim blocks covering 1,383 hectares within 30 kilometres of the town of Wemindji, Quebec 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 situated close to roads and power lines
- 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
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.
For more information about the Company visit www.honeybadgerexp.com.
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. 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.
Contact
Quentin Yarie
President & CEO
(416) 364-7029
qyarie@honeybadgerexp.com
Mia Boiridy
Investor Relations
(416) 364-7029
mboiridy@honeybadgerexp.com
