# Honey Badger Silver Initiates an Updated Economic Study on Its 100%-Owned PC Silver Mine, NWT, Canada

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c

Original source: https://money.tmx.com/en/quote/TUF/news/4808084644833739/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv

Publisher: tmx

Original announcement: 2026-05-28T11:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Honey Badger Silver Inc.

- Ticker: TUF

- Exchange: TSX

- Region: Northwest Territories, Canada

- Primary commodity: Silver

- Secondary commodities: Zinc, Lead

- Document categories: Resource update, Other

- Extracted: 2026-08-24 05:26:10 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Honey Badger Silver has appointed JDS Energy & Mining Inc. to conduct an updated Preliminary Economic Assessment \(PEA\) and Mineral Resource Estimate \(MRE\) for the PC Silver Mine in the Northwest Territories. The update aims to leverage significantly higher current metal prices and project advancements compared to the previous 2021 estimate.

Reasoning: The company is initiating updated technical studies \(PEA/MRE\) which are expected to benefit from significantly higher current metal prices compared to the 2021 historical data.

- Positive factor: Initiation of updated PEA and MRE

- Positive factor: Significant increase in metal spot prices vs historical report

- Positive factor: Existing infrastructure and advanced permitting

- Negative factor: Historical resource data has not been verified as current

- Negative factor: Studies are not incorporating potential future upside from critical minerals

Facts used in scoring: 6

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The company is initiating an updated MRE and PEA.

Evidence · text

> Honey Badger Silver Initiates an Updated Economic Study

**Historical Estimate Only**

Polarity: negative

Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.

Why it applies: The reported resource figures are from a 2021 report and have not been verified as current.

Evidence · text

> These historical estimates have not been verified as current mineral resources.

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Benjamin Kuzmich, P.Geo. is named as the Qualified Person reviewing the release.

Evidence · text

> reviewed and approved by Benjamin Kuzmich, P.Geo. who is an independent consultant and "qualified person"

## Extracted facts

Stored fact records: 6. Some facts used in scoring do not have a stored record.

## Resource Estimates (6)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-0)

silver

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: silver
- Ticker: TUF

#### Resource Data

- Category: indicated
- Tonnes: 9800000
- Grade: 139
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical indicated silver grade from 2021 report.

Evidence · text

> measured and indicated resource of 9.8 million tonnes grading 139 g/t Ag

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-1)

zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: zinc
- Ticker: TUF

#### Resource Data

- Category: indicated
- Tonnes: 9800000
- Grade: 9.7
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical indicated zinc grade from 2021 report.

Evidence · text

> 9.7% Zn

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-2)

lead

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: lead
- Ticker: TUF

#### Resource Data

- Category: indicated
- Tonnes: 9800000
- Grade: 8.8
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical indicated lead grade from 2021 report.

Evidence · text

> 8.8% Pb

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-3)

silver

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: silver
- Ticker: TUF

#### Resource Data

- Category: inferred
- Tonnes: 6400000
- Grade: 150
- Grade Unit: g/t

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical inferred silver grade from 2021 report.

Evidence · text

> inferred resource of 6.4 million tonnes grading 150 g/t Ag

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-4)

zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: zinc
- Ticker: TUF

#### Resource Data

- Category: inferred
- Tonnes: 6400000
- Grade: 12.9
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical inferred zinc grade from 2021 report.

Evidence · text

> 12.9% Zn

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/honey-badger-silver-initiates-an-updated-economic-study-on-its-100-owned-pc-silv--7f64f6bd-f7aa-4f4a-9dcf-376746bfcf6c#fact-resource-facts-5)

lead

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: lead
- Ticker: TUF

#### Resource Data

- Category: inferred
- Tonnes: 6400000
- Grade: 6.7
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2021-10-15T00:00:00.000Z

#### Dates

- Event date: 2026-05-28T00:00:00.000Z

Reasoning: Historical inferred lead grade from 2021 report.

Evidence · text

> 6.7% Pb

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.