Stuhini Provides Exploration Update on Volcanic Creek Molybdenum Target
Stuhini Provides Exploration Update on
Volcanic Creek Molybdenum Target
VANCOUVER, BC
,
Nov. 28, 2023
/CNW/ - Stuhini Exploration Ltd. (the "
Company
" or
Stuhin
i")
(TSXV: STU) (OTCQB: STXPF) is pleased to provide an update on 2023 exploration at its Volcanic
Creek Molybdenum target, part of its Ruby Creek Project (the "
Project
" or "
Property
" or "
Ruby
Creek
") located 14 kilometres (km) east of
Atlin, BC
. The target is located approximately 4 km north
of the Company's flagship Ruby Creek Molybdenum Deposit.
Summary
9 rock grab samples taken ranging from 1.01 % molybdenum ("Mo") to 0.017 % Mo.
Mineralization style similar to Ruby Creek.
Up to 900 meters (m) distance between outcrops with significant Mo mineralization.
(CNW Group/Stuhini Exploration Ltd.)
Note that rock grab samples are selective by nature and values reported may not represent the true
grade or style of mineralization across the target area.
Dave O'Brien
, Stuhini's President and CEO commented:
"The presence of extensive molybdenum
mineralization 4 km north of the Ruby Creek Molybdenum Deposit further exhibits the prospectivity
of the Ruby Creek Project. We are excited to explore this target in the hopes of adding an
additional satellite deposit within close proximity to the Ruby Creek Molybdenum Deposit we
currently have."
Mineralization consists of coarse rosettes in quartz veins and molybdenum veinlets analogous to
those at the Ruby Creek Molybdenum Deposit found in float and outcrop. Mineralization is hosted in
older rock units than the Ruby Creek Molybdenum Deposit but is likely to be similar in age to the
Ruby Creek Molybdenum Deposit. The Company plans to follow up in the summer of 2024.
About Volcanic Creek Molybdenum Target
The Company acquired the Volcanic Creek Molybdenum target by staking 848.1 hectares ("ha") in 1
new claim block contiguous to the north of its existing Ruby Creek tenures in
February 2023
(see
February 17, 2023
new release). The new claim, which was consolidated into the Company's Ruby
Creek Project, is situated in the headwaters of Volcanic Creek and is referred to as the "Volcanic
Creek Moly" showing in BC Minfiles. Previous historic exploration work reported mineralization at
surface and includes two drill holes drilled by Placer Development Ltd. in 1981. Hole DDH 81-1
intersected
24.38 m
of 0.066% molybdenum disulfide ("MoS
2
") (0.040% Mo) starting at a depth of
33.53 m
, including
6.10 m
of 0.14 MoS
2
(0.082 % Mo).
QA/QC protocol:
Rock material was collected in poly bags and then transported to the Bureau
Veritas sample preparation facility located in
Whitehorse
,
Yukon
. Samples were crushed, and then
pulps were sent to the Bureau Veritas lab in
Vancouver
for assay. Four acid digestion and Ultratrace
ICP-MS analysis for 59 elements and fire assay for gold were performed on all samples. Over-limit
copper, lead, zinc and silver samples were analyzed by multi-acid digestion and ICP-ES (MA370).
Over-limit tungsten was analyzed with lithium borate fusion XRF (XF750). Silver samples >1500 g/t
were also analyzed by fire assay (FA530) and lead samples >10% with titration (GC817). Over-limit
tungsten ("W") was analyzed with lithium borate fusion XRF (XF750). Conversion to WO
3
% = W %
x 1.2616. All results have passed the QA/QC screening by the lab.
Ruby Creek Project:
The 29,479-hectare Ruby Creek Project is road accessible and located 14
kilometres (km) east of
Atlin, British Columbia
("
BC
"). There are 48 different documented mineral
occurrences on the Property, of which 16 are gold-related, with 7 significant gold placer creeks. The
Property also hosts the Ruby Creek Molybdenum deposit, which hosts a measured and indicated pit
constrained resource of 433 million lbs molybdenum using
US$15.00
per lb molybdenum prices and
a 0.02% cut-off grade.
1
Stuhini owns 100% of the Ruby Creek Project subject to a 1% NSR.The
geological content of this news release has been reviewed and approved by Ehsan Salmabadi, P.
Geo., and VP Exploration and Project Development of Stuhini, a qualified person as defined under
the terms of National Instrument 43-101.
____________________________
1
See "Technical Report, Ruby Creek Project, Northern British Columbia, Canada" effective March 10, 2022 and dated April 22, 2022 authored by StevenRistorcelli,CP.
G., PeterRonning,PEng.,FinleyBakker,PGeo., and JohnEggert,PEng
The geological content of this news release has been reviewed and approved by Ehsan Salmabadi,
P. Geo., and VP Exploration and Project Development of Stuhini, a qualified person as defined under
the terms of National Instrument 43-101.
About Stuhini Exploration
Stuhini, a mineral exploration company, is focused on exploration and
development of precious and base metals properties in western
Canada
and the southwest
United
States
. The Company's portfolio of exploration properties includes the flagship Ruby Creek
Property, 14 km east of
Atlin, BC
; the Que Project, 70 km north of Johnson's Crossing,
Yukon
; the
South Thompson Nickel Project, 35 km northwest of
Grand Rapids, Manitoba
; the Big Ledge
Property, 57 km south of
Revelstoke, BC
; and a portfolio of 2 properties in southeast
Arizona
.
Forward-Looking Statements
This news release contains "forward
looking information" within the meaning of Canadian securities
laws, which may include, but are not limited to statements relating to potential additional satellite
molybdenum deposit near the Ruby Creek deposit. All statements in this release, other than
statements of historical facts, that address events or developments that the Company expects to
occur, are forward-looking statements. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results may differ materially from those in the forward-
looking statements. Factors that could cause the actual results to differ materially from those in
forward-looking statements include regulatory actions, fluctuations in metal and commodity prices,
market prices, failure to obtain permits, and continued availability of capital and financing, and
general economic, market or business conditions. In particular, there is no guarantee that exploration
work, as proposed, or otherwise, will be completed on the Property or that the Option will be
exercised. Such forward-looking information reflects the Company's views with respect to future
events and is subject to risks, uncertainties and assumptions, including those set out in the
Company's prospectus. Investors are cautioned that any such statements are not guarantees of
future performance and actual results or developments may differ materially from those projected in
the forward-looking statements. There can be no assurance that any forward-looking statements or
information will prove to be accurate as actual results and future events could differ materially from
those anticipated in such statements or information. Accordingly, readers should not place undue
reliance on forward-looking statements or information. Except as required by applicable securities
laws, the Company undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors, should change.
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:
please contact: 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 28-NOV-23