Honey Badger Silver CEO Chad Williams joined Steve Darling from Proactive to share news the company is taking significant steps toward unlocking value from two of its key northern Canadian assets, advancing plans to restart the historic PC Silver Mine in the Northwest Territories while expanding exploration efforts at its Nanisivik Project on Baffin Island, Nunavut.
Williams explained that the PC Silver Mine is a rare asset because it already contains an extensive processing facility that was substantially completed in 1982 but never entered commercial operation. The facility has remained largely intact and well preserved for decades after the project was mothballed when silver prices declined.
According to Williams, replacing the existing infrastructure today would likely cost at least $300 million and require several years to construct. As a result, understanding which components of the facility can be efficiently reused is expected to play a critical role in determining both the economics and timeline of a potential restart.
Tusk Automation has begun an on-site assessment of the facilities, with fieldwork expected to be completed by the end of September and a final report anticipated by late November. While the study's findings will not be available in time to be incorporated into the company's upcoming Preliminary Economic Assessment (PEA), Honey Badger expects the work to provide engineering-level information suitable for inclusion in a future feasibility study.
The company's broader objective is to accelerate the restart of the PC Silver Mine by leveraging the substantial infrastructure already in place and capitalizing on the decades of development work previously completed at the site.
In addition to advancing the PC project, Honey Badger has completed its 2026 field exploration program at the Nanisivik Project, a historic mining district located on Baffin Island in Nunavut.
The program builds on encouraging exploration results generated in 2025 and focuses on two emerging opportunities identified by the company. The first is an extensive massive-pyrite system that management believes may host additional valuable mineralization. The second is the potential for silver, zinc, lead and critical mineral enrichment located outside the historically mined areas.
The 2026 campaign was specifically designed to improve the company's understanding of these targets using modern geological and analytical techniques. Field crews collected numerous samples that have been transported under strict chain-of-custody procedures and submitted to an independent accredited laboratory for comprehensive multi-element geochemical analysis.
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