Business
Honey Badger Silver Plans Exploration Work at Nanisivik Project, Nunavut
Toronto, Ontario--(Newsfile Corp. - September 18, 2023) - Honey Badger Silver Inc. (TSXV: TUF) ...
About this update from Honey Badger Silver Inc.
[{"type":"text","content":"Honey Badger Silver Plans Exploration Work at Nanisivik Project, NunavutToronto, Ontario--(Newsfile Corp. - September 18, 2023) - Honey Badger Silver Inc. (TSXV: TUF) (\"Honey Badger\" or the \"Company\") announces its plans for exploration work on its wholly owned Nanisivik Project near Arctic Bay, Nunavut. The Company staked claims totaling 5,723 hectares over the Nanisivik Mine area in 2022. The Nanisivik Mine (near Arctic Bay, Nunavut) produced over 20 million ounces of silver between 1976 and 2002, from 17.9 million tons of ore, grading 9% zinc, 0.72% lead, and 35 grams per ton silver(1). In addition to the polymetallic orebody, previous exploration identified massive sulphide bodies (principally pyrite), totaling about 100 million tons(1,2), containing base metal and silver values not economic at the time.The Company's CEO, Dorian L. (Dusty) Nicol commented, \"Our target at Nanisivik is an eventual resource of up to 100 million ounces of silver at a grade of 30-50 grams per ton silver. The prospectivity is supported by the reported large tonnages of pyrite bodies at Nanisivik containing anomalous concentrations of silver as well as, locally, germanium, gallium, and indium. These have not been evaluated in light of current metals prices. Our objective is to evaluate these zones to ascertain whether, in light of current metals prices, there may be concentrations of commercial interest. In addition, with a deep-sea port being constructed adjacent to the Nanisivik Mine, the pyrite bodies themselves may have significant commercial value.\"Honey Badger has mobilized a team to undertake initial mapping and sampling of the outcropping massive sulphide target. Results of this field work will be reported as they are received.The Company also announces that the Board of Directors has approved the grant of options to directors, officers, employees, and consultants of the Company for the purchase of up to 549,000 shares in the Company exercisable at a price of $0.09 for a period of five years from date of grant. The grant is pursuant and subject to the terms and conditions of the Company's existing stock option plan and is subject to the approval of the TSX Venture Exchange and all regulatory requirements. Technical information in this news release has been approved by Dorian L. (Dusty) Nicol, the Company's CEO (PG, FAusIMM), and Quali...