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Honey Badger to acquire polymetallic Beaver Silver property in Ontario

Honey Badger Exploration Inc. secured an option to acquire a 100% interest in the Beaver Silver property from Cairngorm Mines Ltd., an inactive former explorer.

The property, located in the Thunder Bay silver district in Ontario, is prospective for silver, gold, zinc, lead and cobalt, according to a Dec. 20 release.

The company will pay C$125,000 cash, issue C$410,000 of common shares and spend a total of C$750,000 in stages within three years.

Cairngorm will retain a 2% net smelter return royalty on the property, half of which can be bought back for C$1.0 million.