Business
Honey Badger Silver Indentifies Unmined Silver Mineralization at Nanisivik
WHITE ROCK, BC / ACCESS Newswire / March 25, 2025 / Honey Badger Silver Inc. (TSXV:TUF)(OT...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Silver Indentifies Unmined Silver Mineralization at NanisivikWHITE ROCK, BC / ACCESS Newswire / March 25, 2025 / Honey Badger Silver Inc. (TSXV:TUF)(OTCQB:HBEIF) (\"Honey Badger\" or the \"Company\") announces an update on its 100%-owned Nanisivik project, located on Baffin Island, Nunavut. The Nanisivik mine produced over 20 million ounces of silver between 1976 and 2002(3). Over 100 million tonnes of massive sulphide (principally pyrite) (3), were left unmined when the mine closed to depressed zinc and silver prices. Since Nanisivik's closure in 2002, silver and zinc prices are up over 600% and 200% respectively. In addition, since the mine's closure, a deep-water port has been constructed within only kilometres of Nanisivik, as a result of renewed interest from the governments of both Canada and the United States in developing the Arctic.The company is continuing a comprehensive review of historical exploration and development data from the Nanisivik Project. To date, three priority targets have been identified, including the Deb, Ocean View North, and Area 14. A review of historical exploration drilling at the former mine site identified a number of significant drill intersections located outside mined areas. These discoveries were not followed up at the time due to the focus on production. Thus, each of these represents a priority target, and has the potential with step-out drilling to be the basis of a new economic resource. A selection of significant silver and/or zinc mineralized intercepts from these priority target areas is provided in the table below and the locations of drillholes with significant intersections are illustrated in the figures below.Honey Badger's CEO, Dorian L. (Dusty) Nicol, commented, \"The identification of these targets further reinforces our belief that Nanisivik has great potential to host significant unmined silver-zinc resources within the over 100 million tonnes of massive sulphide that occur on the property. Indeed, mine reports indicate that approximately 5 million tonnes of zinc-silver mineralization were left unmined in the main workings due to low metals prices at the time. We are particularly encouraged to uncover high-grade, shallow intersections from within just 20 metres of surface in unmined target areas, such as the Ocean View North Target, where historic drilling retu...