Nov 21 2014
Honey Badger Exploration Inc. announces that it has completed a second round of drilling, mapping, sampling and a ground magnetic program at the Sagar property in Northern Québec.
Quentin Yarie, Honey Badger's President and COO, states "Our exploration program to date confirms that there is good potential for gold mineralization at Sagar, particularly in the Aureus zone. Initial assay results from three selective grab samples that were flown out from the summer program are very promising with these samples assaying 1,915 grams/tonne ("g/t"), 115 g/t and over 2 g/t of gold respectively. We are also encouraged by the fact that the mineralization and alteration assemblages identified at Aureus continue to support the Iron Oxide Copper Gold (IOCG) deposit model at Sagar."
Six diamond drill holes were completed totaling 1,439 metres on a select group of Iron Oxide Copper Gold (IOCG) targets. Additionally, sixty-five samples (42 bedrock grab samples and 23 channel samples) were collected at the Aureus and Saarberg II showings. All the fall program drill core, channel and grab samples are currently en route from Schefferville, Québec to Timmins, Ontario for analysis.
Given the assay result of the first Aureus selective grab sample, the two remaining selective samples, taken from the auriferous quartz vein system in the Aureus zone, were also sent out for analysis. One sample yielded assay values as follows: 115 g/t gold, 44.9 g/t silver along with 0.50 % copper*; the other sample returned >2 g/t gold, 12.6 g/t silver and >1% copper* (over limit assays still pending). The copper content in the higher grade gold sample is diagnostic of the largest quartz-carbonate veins documented in the Aureus zone . This is a parallel vein system to the previously reported selective sample assay at the Aureus Showing of 1915 g/t gold (61.57 oz/t), and a silver value of 48.9 g/t.
Compilation of the historical data indicates that the Aureus gold zone is nested between two corridors of albitisation with variable content of chalcopyrite, pyrite and pyrrhotite (Figure 1). The mineralization assemblage is similar to the mineralization intersected in the Delhi Pacific showing. The Aureus zone has also produced historical samples with elevated gold content. This provides further support for the gold potential of the area. Magnetite-rich 'Kiruna-type' alteration zones were documented in a gabbroic intrusion located in the same structural zone as the Aureus showing. The strong albitisation combined with the iron oxide alteration are indications that the Aureus zone is related to the inferred IOCG system of the Sagar property.
To view Figure 1. Aureus alteration zones, please visit the following link: http://media3.marketwire.com/docs/AureusFig1.pdf.
Source: http://www.honeybadgerexp.com/