About Us O
Stock Quotes &
Upcoming Sector Events
Organizations & Schools
Mining Terms - Glossary
What is NI-43-101?
Feature article June 15, 2018:
Badger highly prospective for 'five element' vein
discoveries of significance at high-grade Silver project, Thunder
Silver, Cobalt, Gold, Zinc & Lead
TUF) (US: HBEIF)
Share data, Capitalization, & Corporate info
52 Week High/Low:
Current Market Capitalization:
~$8.2 million Canadian
TUF.V presents exceptional risk-reward
scenario, numerous exploration catalysts coming into play:
Over 5,000,000 ounces of silver were
produced in the region, mostly
program began this H1-2018
at prime land package with 9 historic
high-grade silver mines, some operated
with cut-off grades of ~1,000g/t Silver,
and has not had modern exploration
vein discovery on first hole;
assays are pending. TUF.V's geological
environment is similar to the Cobalt
Experienced management, skilled
technical leadership, stable
mining-friendly jurisdiction, and
Honey Badger Exploration Inc. (TSX-V: TUF) (US
Listing: HBEIF) is a Canadian-based
mining company focused on advancing its 100%-owned newly
consolidated flagship Thunder Bay Silver Project in the Lakehead
Region of Thunder Bay, Ontario. The inherent value of TUF.V is
poised to increase over the next few months as the Company executes
on its 2018 exploration program, including a 1,400m drill program
this H1-2018 on a land package with 12 historic high-grade silver
mines, with historical production >1.67M oz silver. The Beaver Silver Mine (on TUF.V's claims), for example, is reported to of
production of ~500,000 oz silver, operated with an average grade of
0.2565% (>2,500g/t) silver,
some zones graded 3.42% silver (34,200 g/t), and for the most-part has not seen modern exploration techniques
(*historic non NI-43-101, sources: Szetu-1969 and
skilled technical team has created a 3D model projecting the
mineralized fluid pathways from the known fault breaks proximal the
Beaver Silver Mine
and on its first drill holes encountered a previously unknown 'Five
Element' mineralized vein (see related
March 28, 2018 news) -- there were multiple mineralized veins encountered
with different orientations which suggests a much larger system than
previously recognized. Assays are pending.
'Five Element', polymetallic vein groups have
historically been mined in the region for silver, cobalt, nickel,
lead and zinc. Important to note is the geology of Honey Badger's
Thunder Bay Silver Project is similar to that found at Ontario's
other silver district, the Cobalt Silver Camp, one of the most
productive silver districts in the world (442 Moz silver). The
main factors influencing Honey Badger Exploration to focus on this
project are 1) proximity to infrastructure, 2) low cost of entry on prime
ground, and 3) the highly
favorable geology with potential to lead to a discovery comparable
with the success of the Cobalt Silver Camp.
currently has a market cap of ~$8.2 million (~63 million shares
outstanding recently trading at $0.13/share). The risk-reward
characteristics for establishing a long position in TUF.V are good
considering a stream of exploration related news
catalysts is expected over the near-term.
Airborne magnetics announced on April 5, 2018 on the Beaver
Silver Property identified numerous targets that exhibit the same
response as Honey Badger's new March 28, 2018 “Five-element” vein
found proximal the historic Beaver Mine - corroborating >2 km new
potential over fault structures.
Figure 1. (above) - Location map of TUF.V's
three Thunder Bay Silver Project properties (with inset of
images of historic mining structures) - Seen are TUF.V's
properties; 1) the Beaver Property, 2) Silver Mountain Property,
and 3) Mink property -- totaling 66.94 sq.km (6,694 Ha). The
stars denote the location of high-grade historic silver mines. The
lower image seen above is from 1892 in front of the mine office in
Thunder Bay, silver bars are stacked on the sidewalk (*historic
predates NI43-101). Honey Badger Exploration Inc. has since added
tothe surrounding land package and has >30,000 hectares.
One of the best
places to find a great deposit is near a successful past mine:
The Beaver Silver Mine (on TUF.V claims)
had historic production of 500,000 oz silver (operated between 1884
and 1891), average grade of 0.2565% silver
(Szetu, 1969) with zones
grading 3.42% silver (34,200 g/t) (Ingall, 1889), historic drilling
of 1239 g/t silver over 1 m (AFRI 52A05SE0027).
The Silver Mountain Mines (1 km North of TUF.V claims) had
historic production of 700,000 oz silver (from 1888-1903 and in
1911), silver-bearing veins traced over 1,500 m in strike length,
trending east-west (Franklin et al., 1986).
The first silver discoveries in Ontario
occurred in this region in the 1840's, with earliest discoveries
nearest the shores of Lake Superior. Area operations targeted
extremely high-grade silver at intersections of favourable
structure, except back then there was no modern exploration and no
established claim system so there was also no large-scale
exploration or understanding of systems. Historic operations were
developed by drifting and were never tested for other metals.
Historical records show cut-off grades for mining at some operations
were set at 1,000 g/t. Mining activities stopped with falling silver
price in late 1890's, then with the discovery of the Cobalt Silver
District in 1903 attention was diverted away from the Thunder Bay
area and there has been no meaningful exploration since.
ounces of silver were produced in the region, mostly pre-1900, well
before the advent of modern exploration techniques and mining
practices. Honey Badger is an early mover in consolidating key
ground in this historic silver camp that has strong potential for polymetallic mineralization.
Figure 2a&b. (above) - LARGE UNTAPPED
POTENTIAL - Location map and regional geology - The geological
history and the overall geological setting of the Thunder Bay
Polymetallic Silver Project make it a prime target for the discovery
of high-grade polymetallic silver, gold, zinc, lead, and cobalt
mineralization. The two main vein belts in the Lakehead Region, the
Mainland and Island vein group belts are the source of a numerous past-producing* high-grade silver mines in the district.
~1.1 billion years ago the mid continental rift saw the earths
mantel push up and stress the crust, causing it to split -- diabase
intrusions act as channel for heat transfer towards the surface, and
the heat drives large hydrothermal cells which form mineralization
that can be found today. Besides Silver, historic grades from the
Mainland Vein group include up to
1.4% cobalt and 25% nickel
(historic assay results from
Geological Survey of Canada Report, 1889).
The group of properties held or optioned by
Honey Badger covers some of the most productive veins of the Thunder
Bay Silver District. The geological attributes of the area and the
spatial distribution of the polymetallic silver mines, showings and
occurrences over approximately 100 kilometres suggest a good
potential to discover additional high- grade polymetallic silver
veins in the region.
Fig. 3b (below)
Beaver Property -
Major breaks intersect.
Figure 3a (above) - Cross-sectional profile of
Beaver Property showing mineralized faults.
Those faults are where the fluids are going to
be circulating, and where you get intersections
of faults at different directions (not shown on
this figure), that is where you get good
Honey Badger Exploration
Inc. controls >5km over one of the main breaks
at the Beaver Property, so any favourable
intersection along that break is favourable to
high-grade silver mineralization -- it just
needs to be explored, which has never been done
before. The system is believed large and ripe
with potential for major discovery.
Search of historic data
yields high-grade silver results at Beaver:
The following is an example of channel samples
taken on the floor of the Beaver Mine and
highlight the high-grade potential of the silver
veins in the area:
Table 1 (above) - May,1960 (Allan Grant – Stope
Survey) channel samples - taken across the
exposed mineralized veins still in place at
approximate 1 metre intervals and assayed for
The above numbers are
impressive; 105.2 Oz/t = 3,272 g/t, 202.4 Oz/t =
H1-2018 Exploration Plans
Honey Badger's three properties host large
diabase sills and important regional faults. The exploration model
focuses on untested faults and the deeper/lateral extension of known
mineralized faults on the properties.
Airborne geophysics are completed, field-based
short-wave infrared surveys are on-going, geochemical surveys are
on-going, and there was a ~1,400m drill program recently whose
results are still pending.
HONEY BADGER DISCOVERIES –
March 2018 DRILLING
See related March 28, 2018
Badger Discovers New “Five-Element” Vein Early
in Drill Campaign, Thunder Bay Silver Project".
- New mineralized vein next
to the Historic Beaver Mine.
- 2 holes intercept a
quartz-amethyst-calcite vein with visible
disseminated pyrite, galena, sphalerite and
- Vein >7 metres in length
(core length) and at an angle to the known
Beaver Mine Vein.
- Potential for larger system than initially
- Current 1,500 m drill
program testing structural traps where the
likelihood of finding polymetallic silver
mineralization is the highest.
Fig. 3c (below)
Beaver Silver Mine shown with location of first
two (March 2018) drill holes from TUF.V
HONEY BADGER DISCOVERIES –
See related April 19, 2018
Badger Confirms High-Grade Silver (953 g/t) and
Zinc (14.94%) from Grab Samples at its Thunder
Bay Silver Camp".
Assay results from surface
sampling have returned silver values of up to
953 g/t and zinc values of up to 14.94%. The
results from the prospecting we conducted on our
properties in early March confirm that
high-grade silver mineralization extends over at
least 2.5 km along the regional structure
interpreted to control silver mineralization at
the historical Beaver Mine.
Fig. 3d (below)
Location of grab samples on Beaver claims:
------ ------ ------ ------ ------ ------
Below is expanded insight on
Honey Badger Exploration Inc. and its Thunder Bay Polymetallic
Content found herein is not investment advice
news releases regarding Company accomplishments and operational developments:
• June 7, 2018 "Honey
Badger Exploration Strategically Increases its Landholdings in Thunder
• June 6, 2018 "Honey
Badger Announces Closing of Final Tranche of Private Placement".
• May 18, 2018 "Honey
Badger Announces Closing of First Tranche of Private Placement".
• May 14, 2018 "Honey
Badger Announces Private Placement Financing".
• April 19, 2018 "Honey
Badger Confirms High-Grade Silver (953 g/t) and Zinc (14.94%) from Grab
Samples at its Thunder Bay Silver Camp".
• April 12, 2018 "Honey
Badger Exploration Stakes Additional Ground at its Thunder Bay
Polymetallic Silver Camp".
• April 5, 2018 "Honey
Badger’s Geophysical Results Corroborate >2 km “Five-Element” Vein at
its Thunder Bay Silver Project".
• March 28, 2018 "Honey
Badger Discovers New “Five-Element” Vein Early in Drill Campaign,
Thunder Bay Silver Project".
• March 16, 2018 "Honey
Badger Exploration Initiates Drilling Program at its Thunder Bay Silver
• February 20, 2018 "Honey
Badger Exploration Exhibiting at PDAC 2018".
• January 19, 2018 "Honey
Badger Exploration Stakes Additional Ground at its Silver Mountain and
• January 10, 2018 "Honey
Badger Exploration Announces Exploration Grant".
• January 3, 2018 "Honey
Badger Exploration Stakes Additional Polymetallic Silver, Gold, Zinc,
Lead, and Cobalt Properties in Historic Camp".
------ ------ ------ ------ ------ ------
Polymetallic Silver Camp Infrastructure
------ ------ ------ ------ ------ ------
------ ------ ------
Figure 4a & b (above) Land package -- All properties have good
infrastructure to facilitate exploration and development - All three properties are ideally located close to
roads, power lines, infrastructure, and a skilled labour force. Access
to the properties is easy; Provincial road 588 branches off Hwy 17
(coming from Thunder Bay) and goes through the properties. The Beaver
Property is ~25km from Thunder Bay.
There is also, for the most part, no surface right
owners for the core claims of the properties.
Beaver Silver Property: 100% ownership on 21
claims. Option to acquire 100% interest on 3 Cairngorn Mines Limited
Mink Property: 100% ownership.
Silver Mountain Property: 100% ownership.
New addition (seen in green on image above):
With this land expansion, Honey Badger has also secured an additional
three historic mines: Lily of the Valley, the Federal and the Gopher
mines. The Lily of the Valley Mine was developed on a vein reported to
contain zones of very high-grade silver mineralization. Historically, a
5,060 pounds bulk sample taken at the Lily of the Valley Mine graded
2.98% silver (Mineral Deposit Inventory for Ontario;
Deposit: MDI52A06SW00003). Little historic information exists for
both the Gopher and the Federal mines.
The Beaver Silver Property
- Located 25 km SW of
- 29.89 sq. km
- Option on 3 Cairngorm
Mines Ltd. patents.
- 100% ownership on
surrounding 21 contiguous unpatented claims.
- 5 historic mines on the
- Hosts 3rd largest
individual silver mine in the district - Beaver
Silver Mine (operated between 1884 and 1891):
• Historic production of
500,000 oz silver.
• Average grade of 0.2565% silver
1969) with zones grading 3.42% silver (34,200
g/t) (Ingall, 1889).
• Historic drilling of 1239 g/t silver
over 1 m (AFRI 52A05SE0027).
Figure 5 (right) Beaver
Silver Property claims - The green claims
are patented mining claims of the historic
mines. The best place to find a quality deposit
is next to (or under) an old one.
Figure 6 (above) Beaver Silver Property
Geophysics - Results corroborate >2 km “Five-Element” vein.
The Silver Mountain Property
- Located 50 km SW of
- 16.82 sq. km
- 12 contiguous unpatented
- 100% ownership.
- Historic drilling on
property of 294.86 g/t silver over 1.62 m
- < 1 km south of Silver
Historic production of 700,000 oz
silver (from 1888-1903 and in
• Silver-bearing veins traced
over 1,500 m in strike length,
(Franklin et al., 1986).
(right) - Silver Mountain Property claims
The Mink Property
- Located 70 km SW of
- 20.23 sq.km
- 10 contiguous unpatented
- 100% ownership.
- 2 historic mines - Mink
Mountain and Silver
• little known about production and grade.
(right) - Mink property claims
------ ------ ------
------ ------ ------ ------ ------ ------
Exploration Inc.'s Technical Leadership, Management, and Governance
Skip to top
The current management team and board of directors has a well rounded
combination of people that each contribute expertise in
disciplines necessary for a successful mining entity:
Quentin Yarie, P.Geo., – President and CEO
Mr. Yarie has been a director of Red Pine since 2011 and
also serves as Director of MacDonald Mines Exploration
Ltd., Honey Badger Exploration Inc., and NextSource
Materials Inc. Mr. Yarie studied Business Administration
at SIAST, Saskatchewan and has over 20 years of project
management and business development experience in the
mining and environmental/engineering sector.
Chad Gilfillan, P.Eng., CFA, – Director
Mr. Gilfillan is Senior Vice-President at Red Cloud
Klondike Strike Inc., an exempt market dealer focused on
providing unique and innovative financing alternatives,
growth opportunities, and market exposure for select
mining companies. Mr. Gilfillan is a former precious
metals, energy and resource fund portfolio manager with
Natcan Investment Management and a buy-side mining and
energy analyst at TD Asset Management. Prior to his work
in capital markets, he was employed as a consulting
engineer having worked on mining projects around the
globe and across the resource company cycle: from
exploration to feasibility, construction and operation.
Mr. Gilfillan holds a B.A.Sc. in Geological Engineering
from the University of Waterloo. He is a registered
Professional Engineer and a CFA charterholder.
Craig Scherba, P.Geo, – Director
Mr. Scherba is a professional geologist (P.Geo.) with
over 20 years of mineral exploration experience both in
Canada and abroad. Mr. Scherba was an integral member of
the exploration team that developed Nevsun Resources’
high grade gold, copper and zinc Bisha Project in
Eritrea and lead the exploration team that discovered
NextSource Materials’ Molo Graphite Project in
Madagascar. Mr. Scherba serves as President and CEO of
NextSource Materials Inc. and is the Vice-President
Exploration of MacDonald Mines Exploration Ltd and Red
Pine Exploration Inc.
Kevin Tanas, P.Eng. – Director
Kevin is currently Principal, Metals and Mining
Consulting with Wood Mackenzie, a research and
consultancy business, and is focused in global mineral
trade and price dynamics, fiscal strategy, and due
diligence review. Previously, Kevin worked for RPMGlobal
where he spent over 6 years as Principal with primary
focus in technical advisory consulting for project
feasibility, funding, development and operation. He also
served as Vice President of Business Development, North
America. Kevin has 20 years experience in mine technical
study and review, financial modelling, and technology
planning. Kevin’s experience encompasses all stages of
the mine’s lifecycle of open pit and underground
deposits. He has a strong understanding of the mining
business model, operating philosophies and data
management requirements for successful asset management.
His operational and consulting experience spans the
Americas, Africa and Australia. Kevin holds a B.Sc. in
Mine Engineering from Queen’s University and is a
registered Professional Engineer. He currently serves on
the Board of Directors of MacDonald Mines Exploration
Inc. and Honey Badger Exploration Inc.
Tara Gilfillan, CPA, ICD.D, – Director and
Ms. Gilfillan is a financial executive, entrepreneur and
independent board member with over 20 years of
experience, outside and within the mining industry. She
holds a business degree from Queens University and a
Chartered Accountant designation. Tara has a strong
financial and operational background. She has held the
roles of Controller and CFO of mining companies, CFO,
interim CEO of a global engineering consulting company
as well as co-founding a successful start-up engineering
Petra Decher, CPA, CA, – CFO
Ms. Decher is a finance executive with over 15 years
experience in the mining industry. She has a deep
understanding of public reporting, corporate governance,
and investor relations. Ms. Decher was the the Vice
President, Finance and Assistant Secretary for
Franco-Nevada Corporation from 2009 to 2016 and served
as Director at Integra Gold. Petra is a Chartered
Accountant. She completed her Bachelor of Commerce
degree at Concordia University, her Diploma in
Accounting at McGill University and articled at Richter
Usher Vineberg (now Richter).
Jean-François Montreuil, Ph.D. Chief Geologist, –
>8 years of experience defining base-metals, gold and
uranium deposits in Canada.
Conrad Dix, B.Sc. – Senior Project Manager
>20 years multifaceted mineral exploration expertise
Note: This article is not intended to be a complete overview of
Honey Badger Exploration Inc. or a complete listing of Honey Badger's projects. Mining MarketWatch urges the reader to contact the subject company and has
identified the following sources for information:
For more information
contact Honey Badger's head office at:
Company's web site:
----- ----- ----- ----- -----
Welcome to Mining
We provide insight into resource
companies, many which are so often overlooked gems and can provide
exceptional potential to richly reward investors. The
companies we select offer outstanding properties, management and
experience in the mining/exploration industry.