QUEBEC – The Labrador Trough is well known for its iron ore mines, but recent probing on the Sagar project by Honey Badger Exploration of Toronto may turn up a large iron oxide copper gold (IOCG) deposit. The company says the IOCG model is supported by the presence of a favourable structural setting, an abundance of copper-gold-silver-cobalt showings, and the presence of diagnostic hydrothermal alteration.
The Sagar project covers 107 km2 in the Labrador Trough, approximately 200 km north of Schefferville. The property is the subject of a joint investigation by the University of Manitoba and the Natural Sciences and Engineering Research Council Collaborative Research and Development (NSERC-CRD) program.
Dr. Mostafa Fayek, Professor at the University of Manitoba and a Canada Research Chair in isotope and environmental geochemistry, is working with the Honey Badger team to better define the deposit model for the Sagar property and to identify the chemical and geological vectors for mineralization. His recent report noted, “The hematite-chlorite-carbonate mineral assemblage is … consistent with distal, low temperature, shallow late type alteration associated with deposits such as Olympic Dam.”
Honey Badger president and COO is optimistic. “The targeted sampling of the property last summer confirmed the grades obtained by historic assay results and further highlight the gold and cobalt potential of showings that were not tested in the past,” he said. “Although the property requires focused exploration work, we believe our Sagar property has the potential to be a high tonnage IOCG deposit.”
More information about the Sagar property is available at HoneyBadgerExp.com. Honey Badger holds a 75% interest and joint venture partner Energizer Resources a 25% interest in the early stage project.