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Honey Badger Silver Announces Addition of Three Top-Tier Advanced Silver Properties to its Growing Portfolio of Silver Assets
TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has sig
About this update from Honey Badger Silver Inc.
[{"type":"text","content":" TORONTO, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Honey Badger Silver Inc. (TSX-V: TUF) (“Honey Badger Silver” or the “Company”) is pleased to announce that it has signed a binding letter of intent (the “LOI”) with Strategic Metals Ltd. (“Strategic Metals”; TSX-V: SMD) to acquire a 100% interest in the following three silver-focused advanced properties located in the Yukon Territory, Canada: (1) Plata: analogous geology to prolific Keno Hill silver district in the Yukon, (2) Groundhog: higher-grade silver values reported, and (3) Hy: demonstrated potential for high-grade silver. “These property acquisitions have the potential to provide substantial silver upside on a per-share basis for our shareholders”, said Chad Williams, Chairman of Honey Badger. “Each of these three properties offers as much as or greater exploration upside than our current Thunder Bay portfolio which is itself very prospective for higher-grade silver.” Ed Thorose (VP Corporate Development) and I have extensive experience in the Yukon gained during our time at Victoria Gold Corp. (TSX: VGCX). The Yukon is a great place to work given its rich mining history and substantial untapped mineral endowment. In addition, we are very pleased to partner with Strategic Metals and Archer, Cathro & Associates (1981) Limited, well-recognized as quality leaders in Yukon exploration. Each of these properties has a very low holding cost, is at a stage where they can be advanced for relatively low amounts of money, and is located near major historical silver camps or workings” said Mr. Williams. “With the acquisition of these properties, we are executing on our goal of becoming one of the preeminent pure play silver investment vehicles with leverage to a growing and diversified portfolio of top tier silver assets”. The Properties Plata – Plata lies within the Tintina Gold Belt and displays many similarities to the Keno Hill Silver Camp located about 180 km to the west. The Keno Hill Silver Camp is Canada’s second largest primary producer of silver with production from approximately thirty-five vein deposits between 1913 and 1989. A reported 2,041 tonnes of hand sorted material were shipped from high grade veins on the Plata property to a smelter, yielding about 9,020 kg (290,000 ounces) of silver; this equates to a recovered silver grade of approximately...