Stuhini Provides Exploration Update on the Ruby Creek Molybdenum Project
Stuhini Provides Exploration Update on the
Ruby Creek Molybdenum Project
VANCOUVER, BC
,
Nov. 9, 2021
/CNW/ - Stuhini Exploration Ltd. (the "
Company
" or
Stuhin
i")
(TSXV: STU) is pleased to provide a technical update on its Ruby Creek Molybdenum project
located 35 kilometres (km) by road east of
Atlin, BC
.
The Company has retained Mine Development Associates (MDA), a division of RESPEC, to update
the 2009 Ruby Creek molybdenum historic resource estimate, which was prepared for a prior
operator, into a current mineral resource estimate. The data review, modelling and resource
estimation will be conducted in accordance with NI43-101 standards by the MDA associates and
qualified persons,
Steve Ristorcelli
, P.Geo., and
Peter A. Ronning
, P.Eng..
Mr.
David O'Brien President
& CEO of Stuhini stated:
We are honoured to be working with such a
reputable firm as MDA. With the steady increase in the price of molybdenum over the past 16
months, the Company and its Board have initiated a strategic review process that encompasses an
evaluation of the Company's development strategy and business plan. Simultaneously our
technical team has been working on re-compiling the vast dataset on the Ruby Creek molybdenum
project in preparation for project advancement
.
Stuhini has recently been utilizing the services of proactive investor to help communicate via video
relevant news releases to the investment community and a brief video highlighting this release can
be found on the Company website or by clicking the link below:
Proactive Investor interview with
Dave O'Brien
, President & CEO of Stuhini Exploration
The Company also announces the grant of stock options to a consultant to purchase 120,000
common shares of the Company at
$0.60
per share until
November 9, 2023
. The options will not be
subject to any vesting requirements and are subject to the terms of the Company's Stock Option
Plan and TSX Venture Exchange approval.
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
. The Company's portfolio of exploration properties
includes its flagship the Ruby Creek Property located approximately 20 km east of
Atlin, BC
, the
Que Project located approximately 70 km north of Johnson's Crossing in the
Yukon
, the South
Thompson Project located approximately 35 km northwest of
Grand Rapids, Manitoba
and the Big
Ledge Property located approximately 57 km south of
Revelstoke, BC
.
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, , future price
estimates for Molybdenum("Mo"), and updating to current resource the historic Mo resource. 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, price estimates for Mo; the effect of Covid-19 on the Company's ability to
conduct exploration; 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: downturn in future price
estimates for Mo, 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 Ltd.
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For further information:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration
Ltd., Email: [email protected], Phone: (604) 835-4019, Web: www.stuhini.com
CO: Stuhini Exploration Ltd.
CNW 08:30e 09-NOV-21