- Honey Badger Silver (TSXV:TUF) has enlisted Archer, Cathro and Associates to overlook the Phase 1 program at its 100-per cent owned Plata Silver Property
- The Plata Silver Property is situated in the Tintina Gold Belt and has a range of similarities to the Keno Hill Silver Mining Camp
- Historic mining of several regions of the property for high-grade silver yielded over 290,000 ounces from roughly 2,041 tonnes of hand-sorted material
- Drilling to date also demonstrates the potential for continuous mineralization over a strike length of nearly 800 metres at the Aho Zone
- Shares of Honey Badger are down 5.56 per cent to C$0.08 as of 12:45 p.m. EDT
Honey Badger Silver (TUF) has enlisted Archer, Cathro and Associates to oversee the company’s Phase 1 program at its Plata Silver Property.
Located in east-central Yukon, the property spans 5,690 hectares and lies within the Tintina Gold Belt.
Additionally, the property displays a range of similarities to the Keno Hill Silver Mining Camp, which is Canada’s second-largest primary producer of silver with past production between 1913 and 1989.
The Phase 1 program set to begin this summer aims to complete detailed mapping and rock and channel sampling at a range of the priority target zones to better understand structural controls of silver mineralization.
The second objective will be to better define the full extent of mineralization at the property.
The Plata Property has historic mining for high-grade silver, which yielded 290,000 ounces from roughly 2,041 tones of hand-sorted material. This is the equivalent of a recovered silver grade of 4,420 grams per tonne (g/t) silver.
Meanwhile, exploration at the property between 1969 and 2011 identified 32 known mineralization zones over 2.5 kilometres, hosting narrow-grade silver, gold, lead and zinc-bearing veins and stockworks.
In line with the company’s drilling program, Honey Badger also announced the closing of the first tranche of its non-brokered flow-through private placement through the issuance of 1.68 million flow-through shares.
Priced at C$0.15 per flow-through share, gross proceeds totalled $252,270, which will be used to fund the exploration at the Plata silver property and additional exploration programs on other properties in the Yukon and in Thunder Bay, Ontario.
Shares of Honey Badger are down 5.56 per cent to C$0.08 as of 12:45 p.m. EDT.
