Stuhini Provides Corporate Update
Stuhini Provides Corporate Update
VANCOUVER, BC
,
July 23, 2020
/CNW/ - Stuhini Exploration Ltd. (the "
Company
"
or
Stuhin
i") (TSXV: STU) is pleased to announce that is has now received from SkyTEM the final
report regarding the SkyTEM airborne geophysical survey that was recently completed on its Que
and Ruby Creek Properties. The Company also wishes to announce that an updated Corporate
Presentation has been posted on the Company website. Additionally, the Company also announces
that
Gary Robert Thompson
has resigned from the Board of Directors to focus on his responsibilities
as CEO and Chairman of Brixton Metals Corporation.
SkyTEM Airborne Geophysical Program
: The recently completed survey was conducted on
selected portions of the Ruby Creek and Que projects. The final survey consisted of approximately
1,400 line-kilometres (lkm) of which 425 lkm were flown at the Que Project and 975 lkm were flown
at the Ruby Creek Project. Company geophysicist
Todd Ballantyne
is presently reviewing selected
areas whereby mineralized showings are known to occur in the hope that the structural orientation of
these showings can be deciphered. Additionally, exploration teams are presently ground-truthing
geophysical anomalies in the hopes of discovering new mineralized showings on the tenures.
Preliminary reports from the SkyTEM survey helped the Company vector in on drill targets at the
Que Project whereby a small 2 hole diamond drill program at the Camp Gossan zone(assays
pending) has been completed. These preliminary results also directed our field teams to numerous
anomalies in the Boulder and Quartz Creek areas of Project. As previously reported in a press
release on
June 29
th
, 2020, some of the samples collected had visible fine-grained gold and silver.
Assays from five to these samples varied from 2.4 to 78.6 g/t gold and 37 to 1282 g/t grams per ton
silver.
Resignation of
Gary Thompson
as Company Director
:
Dave O'Brien
, Company CEO, President
and Director commented: "On behalf of everyone at Stuhini, we would like to thank Gary for his
invaluable contributions towards our growth. Gary has been a valued board member since before we
completed our IPO, and he will be missed. We wish Gary the best in his future endevours."
Ruby Creek Project
: The 26,735-hectare Ruby Creek Project is road accessible and located 20
kilometres (km) east of
Atlin BC
. There are 48 different documented mineral occurrences on the
Property, of which 16 are gold–related, with 4 active gold placer creeks. The Property also hosts
the historic Ruby Creek Molybdenum resource as well as the past producing
Ruffner Silver Mine
.
Stuhini has an option to acquire 100% of the Ruby Creek Project subject to a 1% Net Smelter
Royalty.
Further details regarding the Ruby Creek Option Agreement can be found in the Company's news
release dated
July 30, 2019
.
Que Project
: The Que Project is road accessible from Yukon Hwy #6 (Canol Road) and is located
70 km north of Johnson's Crossing on the Alaska Highway. The Project is early stage and is 4,243
hectares in size. Stuhini has an option to acquire 100% of the Que Project, subject to a 1% Net
Smelter Royalty. Further details regarding the Que Project can be found in the Company's news
release dated
Feb 21
st
, 2020.
The geological content of this news release has been reviewed and approved by
Andrew Wilkins
, P.
Geo., a qualified person as defined under the terms of National Instrument 43-101.
About Stuhini Exploration Ltd.
: Stuhini is a mineral exploration company focused on the
exploration and development of precious and base metals properties in western
Canada
with its
focus on the Metla Property located in northwestern
British Columbia
approximately 150 kilometres
south of the town of
Atlin
, the Ruby Creek Property located approximately 24 km east of
Atlin British
Columbia
and the Que Project located approximately 70 km north of Johnsons Crossing in the
Yukon
Territory
.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation. Such forward–looking statements concern the Company's strategic plans, timing and
expectations for the Company's exploration and drilling programs, estimates of mineralization from
sampling, and geological information projected from sampling results. Such forward–looking
statements or information are based on a number of assumptions, which may prove to be
incorrect. Assumptions have been made regarding, among other things: conditions in general
economic and financial markets; accuracy of assay results; geological interpretations from
sampling results, timing and amount of capital expenditures; performance of available laboratory
and other related services; and future exploration costs. The actual results could differ materially
from those anticipated in these forward–looking statements as a result of the risk factors including:
the timing and content of work programs; results of exploration activities and development of
mineral properties; the interpretation and uncertainties of sampling results and other geological
data; receipt, maintenance and security of permits and mineral property titles; environmental and
other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of
funds and general market and industry conditions. Forward-looking statements are based on the
expectations and opinions of the Company's management on the date the statements are made.
The assumptions used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of the date the
statements were made. The Company undertakes no obligation to update or revise any forward-
looking statements included in this news release if these beliefs, estimates and opinions or other
circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE
Stuhini Exploration
View original content:
http://www.newswire.ca/en/releases/archive/July2020/23/c0970.html
%SEDAR: 00046568E
For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration
Ltd., Email: [email protected], Phone: (604) 418-4019, Web: www.stuhini.com
CO: Stuhini Exploration
CNW 09:25e 23-JUL-20