Past producing zinc mine with a silver lining, significant exploration potential.

Situated on Baffin Island near Arctic Bay, Nunavut, the Nanisivik mine was Canada’s pioneering Arctic mining operation. From 1976 to 2002, the mine produced over 5 billion pounds of zinc and 20 million ounces of silver from 17.9 million tonnes of ore, grading 9% Zn and 35 g/t Ag.

In 2022, Honey Badger Silver secured the 5,723-hectare Nanisivik project, recognizing its vast untapped potential. Recent reviews of a historic database, acquired earlier this year, have unveiled several promising targets around Nanisivik that were previously unmined. These findings suggest that significant mineralization, potentially economic at today’s metal prices, may remain undiscovered within the site.

Key highlights from this review include the identification of multiple high-grade Zn-Pb-Ag intersections, such as 17.76% Zn, 9.8% Pb, and 74.7 g/t Ag over 2.7 meters, and 22.79% Zn, 12.42% Pb, and 97.6 g/t Ag over 5.3 meters. Additionally, significant silver grades, often exceeding 100 g/t, have been reported in unmined prospects such as Deb, K-Baseline, and Area 14. The database also includes a historical regional airborne geophysical survey that, when combined with modern geophysics, could further enhance targeting and exploration efforts.

Honey Badger’s ongoing exploration efforts aim to verify and expand these findings, with the goal of delineating a resource of up to 100 million ounces of silver at a grade of 30-50 g/t Ag. Furthermore, the deep-sea port being constructed adjacent to the Nanisivik Mine adds to the potential commercial viability of the pyrite bodies themselves.  In addition to their value as a source of sulphuric acid, which is experiencing a worldwide shortage, they may contain economically significant concentrations of silver, zinc, germanium, gallium, and indium.