Honey Badger Silver (TSXV:TUF) announced on May 16, 2022, that a 10-year class 3 quartz mining land use approval has been granted by the Yukon Government in Canada at the high-grade Plata Silver Property. Honey Badger will be allowed to perform ground exploration activities for up to 300 diamond drill and 300 reverse circulation holes, for a total length of 30,000 metre, significant trenching and bulk sampling, and road construction to be able to define areas of mineralization on the property.
Exploration permits are critical in order to continue the development of a project and without them, a company is unable to move forward. This is a significant milestone for the company as it can now focus on moving the project toward high-grade discoveries and development.
Chad Williams, Chairman of Honey Badger Silver, commented in a press release: “Plata has produced high-grade silver from small-scale mining in the past and currently hosts 32 showings(1), many of which have returned high-grade silver, lead and zinc values, from drilling and trenching. We are looking forward to unlocking the extraordinary potential we believe Plata possesses.”
Honey Badger Silver also recently announced it had acquired a 100% interest in the Clear Lake Deposit, in the Whitehorse Mining District in Yukon. The acquisition was another critical step for the company toward its strategy of entering more silver properties with high optionality at different stages of production to allow it to offer investors high exposure to silver prices.