(TSX VENTURE:TUF) News; Honey Badger Exploration and Entree Gold Provide Exploration Update
TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 29, 2010) - Honey Badger Exploration Inc. (TSX VENTURE:TUF) ("Honey Badger" or the "Company") announces that Entrée Gold, the operator for Honey Badger's Blackjack Property, has provided an update on the on-going exploration program in the Yerington district of Nevada. The exploration to date has confirmed the presence of copper mineralization on the Blackjack Property.
In 2009, Honey Badger entered into an option agreement with Entrée Gold Inc. (TSX:ETG)(NYSE Amex:EGI)(FRANKFURT:EKA) ("Entrée") for the Blackjack property, a large property immediately contiguous to PacMag's Ann Mason project, and the Roulette Property (an option agreement property between Bronco Creek Exploration Inc., and Entrée) in the developing Yerington copper camp of western Nevada.
The Blackjack property lies immediately to the west of Ann Mason and to the north of the Roulette. Drilling commenced in June to test several anomalies first outlined by a GeoTech AirMT geophysical survey completed in 2009, as well as recent IP results and anomalous copper geochemistry interpreted to represent the continuation of the Blue Hill oxide copper zone across the property boundary from Ann Mason. Seven holes totaling 2,820 metres have been completed. One of the holes (EG-B-10-001), sited to test an AirMt target and coincident IP anomaly, intersected stringers of chalcopyrite in rocks below a shallow-dipping fault. The presence of copper mineralization associated with this IP anomaly is an important development. Although offset by faulting, the IP anomaly extends 5 kilometres west and southwest from EG-B-10-001. Five of the Blackjack holes were sited on the possible westward extension of the Blue Hill zone of mineralization; the upper portions of all five holes are strongly oxidized and iron-rich, with occasional oxide copper minerals noted. Full assay results are pending.
The Ann Mason property was acquired by Entrée through a recent merger with PacMag Metals. The property hosts a major inferred sulphide copper resource of 810 million tonnes grading 0.40% Cu (7+ billion pounds of contained copper) in the Ann Mason deposit. Compilation of previous drilling done over Ann Mason suggests there is room to expand the current resource to the west (towards and onto the Blackjack Property) and northwest. Further information about the Ann Mason deposit can be found in the company's technical report on www.sedar.com.
In addition, potential exists for shallow oxide copper resources and additional sulphide mineralization in separate zones at Blue Hill. Reverse circulation drilling is currently underway by Entrée at Blue Hill (on the PacMag property), with 14 of the planned 20 holes totaling 2,364 metres completed to date. Initial assay results confirm the presence of a near surface zone of oxide copper mineralization, which will be better defined by the current drill program. Visual identification of copper sulphide mineralization at the bottom of several drill holes indicates the Blue Hill sulphide zone, first discovered in PacMag holes BH08001 and BH08003 can, with additional core drilling, be extended 600 metres or more southwest of the two discovery holes. The Blue Hill sulphide mineralization remains open to the northeast, southeast and at depth.
With the following results, the copper mineralization defined to date confirms the Company's belief that Yerington has the potential for additional undiscovered copper deposits.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's current exploration projects are focused in the mining-friendly State of Nevada. The "Yerington Project" is a copper porphyry and skarn property near the town of Yerington, and positions the Company for new exploration in prolific copper districts. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information, please visit our website at http://www.honeybadgerexp.com.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
In 2009, Honey Badger entered into an option agreement with Entrée Gold Inc. (TSX:ETG)(NYSE Amex:EGI)(FRANKFURT:EKA) ("Entrée") for the Blackjack property, a large property immediately contiguous to PacMag's Ann Mason project, and the Roulette Property (an option agreement property between Bronco Creek Exploration Inc., and Entrée) in the developing Yerington copper camp of western Nevada.
The Blackjack property lies immediately to the west of Ann Mason and to the north of the Roulette. Drilling commenced in June to test several anomalies first outlined by a GeoTech AirMT geophysical survey completed in 2009, as well as recent IP results and anomalous copper geochemistry interpreted to represent the continuation of the Blue Hill oxide copper zone across the property boundary from Ann Mason. Seven holes totaling 2,820 metres have been completed. One of the holes (EG-B-10-001), sited to test an AirMt target and coincident IP anomaly, intersected stringers of chalcopyrite in rocks below a shallow-dipping fault. The presence of copper mineralization associated with this IP anomaly is an important development. Although offset by faulting, the IP anomaly extends 5 kilometres west and southwest from EG-B-10-001. Five of the Blackjack holes were sited on the possible westward extension of the Blue Hill zone of mineralization; the upper portions of all five holes are strongly oxidized and iron-rich, with occasional oxide copper minerals noted. Full assay results are pending.
The Ann Mason property was acquired by Entrée through a recent merger with PacMag Metals. The property hosts a major inferred sulphide copper resource of 810 million tonnes grading 0.40% Cu (7+ billion pounds of contained copper) in the Ann Mason deposit. Compilation of previous drilling done over Ann Mason suggests there is room to expand the current resource to the west (towards and onto the Blackjack Property) and northwest. Further information about the Ann Mason deposit can be found in the company's technical report on www.sedar.com.
In addition, potential exists for shallow oxide copper resources and additional sulphide mineralization in separate zones at Blue Hill. Reverse circulation drilling is currently underway by Entrée at Blue Hill (on the PacMag property), with 14 of the planned 20 holes totaling 2,364 metres completed to date. Initial assay results confirm the presence of a near surface zone of oxide copper mineralization, which will be better defined by the current drill program. Visual identification of copper sulphide mineralization at the bottom of several drill holes indicates the Blue Hill sulphide zone, first discovered in PacMag holes BH08001 and BH08003 can, with additional core drilling, be extended 600 metres or more southwest of the two discovery holes. The Blue Hill sulphide mineralization remains open to the northeast, southeast and at depth.
With the following results, the copper mineralization defined to date confirms the Company's belief that Yerington has the potential for additional undiscovered copper deposits.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company's current exploration projects are focused in the mining-friendly State of Nevada. The "Yerington Project" is a copper porphyry and skarn property near the town of Yerington, and positions the Company for new exploration in prolific copper districts. The Company's common shares trade on the TSX Venture Exchange under the symbol "TUF".
For more information, please visit our website at http://www.honeybadgerexp.com.
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
For more information, please contact
Honey Badger Exploration Inc.
Brent Nykoliation
Vice President of Business Development
(416) 364-7029
(416) 364-2753 (FAX)
bnykoliation@HoneyBadgerexp.com
or
Honey Badger Exploration Inc.
Kirk McKinnon
President & CEO
(416) 364-7029
or
Honey Badger Exploration Inc.
Richard Schler
Chief Operating Officer & CEO
(416) 364-7029
Honey Badger Exploration Inc.
Brent Nykoliation
Vice President of Business Development
(416) 364-7029
(416) 364-2753 (FAX)
bnykoliation@HoneyBadgerexp.com
or
Honey Badger Exploration Inc.
Kirk McKinnon
President & CEO
(416) 364-7029
or
Honey Badger Exploration Inc.
Richard Schler
Chief Operating Officer & CEO
(416) 364-7029
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