Clear Lake
Yukon’s Premier
Zinc-Silver Resource
A Major SEDEX System with 1.3 Billion Pounds of Zinc & 5.5 Million Ounces of Silver located 225 km north of Whitehorse, Yukon
The Clear Lake Project is a significant Sedimentary Exhalative (SEDEX) massive sulfide deposit with a substantial historic resource and room to grow.
The 2,500 ha property currently benefits from a valid Class 3 Land Use Permit and recent geophysical modelling has identified three new, high-priority targets that closely mimic the signature of the known deposit.
Massive Zinc Resource with Silver Component
Located in the Whitehorse Mining District of the Yukon, the Clear Lake Deposit is a sedimentary-exhalative (SEDEX) massive sulphide deposit currently delineated as approximately 1,000 meters in length and up to 120 meters wide, with potential to expand.
The project consists of 121 contiguous claims covering approximately 2,500 hectares situated 65 kilometers east of Pelly Crossing and 225 kilometers north of Whitehorse. A winter road links the property to the all-weather North Klondike Highway at Pelly Crossing, providing excellent infrastructure access.
Key Highlights
5.5 Million ounces of silver (Inferred)
1.3 Billion pounds of zinc (Inferred)
185 Million pounds of lead (Inferred)
Class 3 Land Use Approval valid until 2029
13,168 metres of drilling data
Chad Williams, Chairman of Honey Badger stated
“The Clear Lake acquisition represents a milestone as we acquire, on an extremely value-accretive basis, a quality asset with in-situ silver resources in one of the best mining jurisdictions in the world, where we are currently active at our higher-grade Plata silver project. This acquisition demonstrates our stated strategy of identifying and executing highly accretive targeted silver acquisitions. Clear Lake not only provides our shareholders with exposure to silver resources but also offers the possibility of unlocking value from the significant zinc and lead endowment, which is not of primary interest to Honey Badger, in a royalty/stream spin-off or even potentially other innovative instruments, such as a commodity-linked non-fungible token (“NFT”) – watch for more news on this front.”
Exploration and Resource Highlights
Resource (Inferred)
Contained Metals
Past Drilling
Key Exploration Results
Drilling has consistently intercepted thick zones of high-grade massive
sulfides:
- 14.1% Zn, 2.24% Pb, and 36.4 g/t Ag over 29 meters.
- 20.9% Zn, 8.3% Pb, and 101 g/t Ag over 6.3 meters.
- The deposit remains open at depth and along strike, with SRK previously recommending step-out drilling to significantly expand the tonnage.
Disclaimer: The historic data presented here has not been verified by a Qualified Person under NI 43-101.
- Target 1: A high-priority target located just south of the main deposit. It features a coincident gravity high and VTEM conductor at ~150m depth—interpreted as a potential parallel massive sulfide body.
- Target 2: A second EM anomaly on strike with Clear Lake mineralization and adjacent to an outcrop of zinc-rich gossan (iron oxides that result from the weathering of massive sulfides).
- Target 3: A coincident gravity and EM anomaly interpreted as possibly representing a flat-lying massive sulphide body at a depth of about 300 meters.
Inferred Historic Resource Estimate
Defined by 13,168 metres of drilling in 63 drill holes, the deposit hosts an Inferred Historic Resource Estimate(1) of 7.76 million tonnes grading 22 gpt Ag, 7.6% Zn and 1.08% Pb for contained metal of 5.5 million ounces of silver, 1.3 billion pounds of zinc and 185 million pounds of lead.
(1) The Mineral Resource Estimate is historic. It was estimated by SRK Consulting (Canada) in February 2010 for Copper Ridge Inc. A qualified person has not done sufficient work to classify the historic estimate as a current mineral resource and the Company is not treating the historical estimate as a current mineral resource.
Clear Lake Deposit Overview
Located in the Whitehorse Mining District of the Yukon, the Clear Lake Deposit is a sedimentary-exhalative (“SEDEX”) massive sulphide deposit. SEDEX deposits contain significant amounts of silver while accounting for approximately 50% of the world’s current zinc and lead reserves(11). It is currently delineated as approximately 1,000 meters in length and up to 120 meters wide, with potential to expand.
Valid until 2029, with drilling allowances
Class 3 Land Use Approval
Property benefits from a Class 3 Land Use Approval valid until 2029 Allows for up to 31,500 metres of diamond drilling and 2000 metres of reverse circulation drilling