Is Honey Badger Silver (TSXV:TUF) The Ultimate Pure-Play Silver Stock for 2022 Amid Ukraine Crisis?

Source: Honey Badger Silver

As 2022 rolls on, investors are looking for edge anywhere they can get it. With current uncertainty in commodities markets and the mining industry, there are few unique opportunities left. However, investors looking for a pure-play silver company in a stable mining jurisdiction may have any option in Honey Badger Silver (TSXV:TUF) (OTC:HBEIF).

Honey Badger is a public Canadian pure-play silver mining company headquartered in Toronto, Ontario, engaged in the identification, acquisition, development and integration of cumulative silver ounce transactions. Silver’s resiliency and safe-haven asset status during a period of intense struggle for the mining industry overseas could give investors plenty of alpha in the coming quarters. 

The company has a dominant land position in Ontario’s Thunder Bay Silver Historic District, which covers 16,800 hectares. The Honey Badger group of properties covers some of the most productive veins in the Thunder Bay silver district. Honey Badger also has advanced projects in the southeastern and south-central Yukon, positioning it as a premier silver company.

Honey Badger’s mission is to produce silver and other precious metals safely, sustainably and profitably. The company and its highly experienced team is focused on being the world’s leading producer of precious metals, thus creating value for its shareholders through engineering, innovation and sustainable development. 

The Thunder Bay Silver Project

The Honey Badger land parcel in Thunder Bay is home to 12 high-grade mines that have had a historical production of 1,667 million ounces of silver. 

The company’s Silver mountain/Mink property is located approximately 50 meters south of the Silver Mountain group of deposits, which produced 700,000 ounces of silver between 1888 and 1903. Its geological history and the general geological setting of this project make it in a primary target for the discovery of high grade polymetallic silver mineralization (cobalt, zinc and lead)

Polymetallic silver deposits are found in two main districts of Ontario; the Timiskaming near the town of Cobalt (the Cobalt Silver District); and the northwestern Lake Superior near the town of Thunder Bay (the Thunder Bay Silver District).

A report filed with the Bureau of Mines in 1913 (REPORT OF THE BUREAU OF MINES VOL. XIX., PART II., The Cobalt-Nickel Arsenides and Silver Deposits of Temiskaming (Cobalt and Adjacent Areas), WILLET G. MILLER, Provincial Geologist , 1913) compared minerals from the Port Arthur silver mines (Thunder Bay, ON) with those from the Temiskaming veins (Cobalt, ON) and found the following points in common:

  • Native elements: Native silver, native bismuth, graphite .
  • Arsenates: cobalt flower, annabergite.
  • Sulfides: Argentite, zinc blende, galena, pyrite, marcasite, pyrrhotite, chalcopyrite, copper gaze.

The geological attributes of the area and spatial distribution of the polymetallic silver mines, the samples, suggest a good potential to discover new high-grade polymetallic silver veins in the region.

Promising discoveries have been made in exploration programs that Honey Badger began in 2018:

  • Random samples* taken at the property’s 12 historic mines returned up to 1,503 g/t silver and 14.94% zinc.
  • Drilling identified multiple zones of near surface cobalt mineralization with no arsenic (0.26% cobalt over 10.8 meters in BM-18-004) and high grade silver mineralization (1254 g/t silver in BM-18-006).

Source: Honey Badger Silver

Honey Badger Announces Third Silver Assay Results

Honey Badger recently announced rock, chip and rock sample analysis results from the 2021 field program at its 5,690-hectare Silver Property, 100% owned by Honey Badger, located in west-central Yukon.

Highlights of silver, lead and zinc assays from trench and chip sampling at the P2 Zone are listed below:

  • 4,300 g/t silver, 46.4% lead and 22% zinc over 1.0 meter
  • 1,775 g/t silver, 48.78% lead and 13.35% zinc over 1.2 meters
  • 1,140 g/t silver, 24.16% lead and 16.41% zinc over 2.49 meters
  • 12,806 g/t silver, 76.08% lead and 3.70% zinc over 0.10 meter

Highlights of silver, gold, lead and zinc assays from rock samples collected from outcrop and float material at the P1, P6 and P26 Zones are listed below:

  • P1 Zone: 16,887 g/t silver, 0.18 g/t gold, 67.99% lead and 0.83% zinc (float)
  • P6 Zone: 7,950 g/t silver, 1.55 g/t gold, 57.66% lead and 0.99% zinc (outcrop)
  • P6 Zone: 4,510 g/t silver, 6.91 g/t gold, 25.73% lead and 2.05% zinc (float)
  • P26 Zone: 2,720 g/t silver, 0.32 g/t gold, 72.63% lead and 0.43% zinc (outcrop) 

These latest results, in conjunction with the first two batches of assay results previously reported confirm:

  • high-grade silver in Type I veins at the P1, P2 and P26 Zones , and
  • high -grade gold-bearing silver in Type II veins at the Aho and P6 Zones,
  • very high-grade silver and gold was mined by historic miners

Source: Honey Badger Silver

Honey Badger Reports Second Batch of Yukon Silver Program Assays

The company also recently reported assays out of its Yukon Silver Program;

Highlights of silver, gold, lead and zinc Assays from five channel and chip samples collected from the Aho zone at Plata are listed below:

  • 4,500 g/t silver, 7.26 g/t gold, 24.13% lead, 0.83% zinc over 0.85 meters;
  • 3,480 g/t silver, 4.63 g/t gold, 23.79% lead, 2.05% zinc over 1.6 meters;
  • 1,546 g/t silver, 3.28 g/t gold, 5.04% lead, 0.09% zinc over 1.45 meters;
  • 868 g/t silver, 5.30 g/t gold, 7.47% lead, 1.95% zinc over 1.93 meters; and
  • 202 g/t silver, 3.69 g/t gold, 1.12% lead, 10.1% zinc over 1.32 meters.

In addition, gold assays have been received for five composite grab samples of hand sorted material collected from 90 ore bags left behind by historic miners at Plata. These are reported below in conjunction with silver, lead and zinc assays previously reported by the Company on December 13, 2021:

  • 4.25 g/t gold, 5,190 g/t silver, 23.4% lead and 3.62% zinc;
  • 7.56 g/t gold, 4,820 g/t silver, 13.15% lead and 2.78% zinc;
  • 6.24 g/t gold, 4,000 g/t silver, 20.97% lead and 3.41 g/t zinc;
  • 2.67 g/t gold, 3,500 g/t silver, 17.5% lead and 3.07% zinc; and
  • 5.61 g/t gold, 2,930 g/t silver, 10.5% lead and 2.26% zinc.

Plata lies within the Tintina Gold Belt and displays numerous similarities to the world-class Keno Hill Mining Camp, Canada’s second largest primary producer of silver, located 165 km west of the Plata Silver Property. Keno Hill produced more than 200 million ounces of silver at an average grade of 44 ounces per ton (oz/t) of silver from approximately thirty-five vein deposits between 1913 and 1989 (1).

Source: Honey Badger Silver

As the conflict in Ukraine rages on and global markets stumble, assets like silver, and silver mining stocks may be one of the best places to park money for the long-term. As a result, Honey Badger Silver (TSXV:TUF) (OTC:HBEIF) may be the ultimate pure-play silver mining stock for 2022.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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