Investors pile into Honey Badger on Beaver intersects
Honey Badger Exploration’s (TSX: TUF) stock was up over 16% after the Canadian junior announced drill results from its Thunder Bay, Ontario silver-cobalt project named Beaver.
The 2,000-metre drilling program was completed in June, a follow-up to the successful 2018 drilling program, where significant high-grade silver mineralization, comprising 682 g/t silver over 1.1 metres (true width) including 1,254 g/t silver over 0.6 metres (true width) was intersected in the Beaver vein.
This year’s program intersected the Beaver vein, which contains 1,025 g/t AgEq over 4 metres (core length), including 1,701 g/t AgEq over 2.4 metres.
Four of the holes reported here were successful at extending, 35 metres down-dip, the high-grade silver mineralization of the Beaver Vein, Honey Badger said.
A second high-grade silver vein, distinct from the Beaver Vein, was intersected indicating that more than one silver-containing vein set is likely in the vicinity of the Beaver mine. Results for 8 holes are still pending.
Honey Badger’s Thunder Bay project includes the Beaver Silver, Silver Mountain and Mink Mountain silver properties. There are a total of 12 past producing, high grade mines on the property.
Honey Badger says it will also investigate the cobalt potential at the Beaver project.
At market close, Honey Badger’s shares had been traded 5.3 million times on the TSX, more than 100 times the daily average volume. The company has a C$2.6 million market capitalization.