Stuhini Stakes New Ground at Red Hills Silver Property, Nevada
Stuhini Stakes New Ground at Red Hills Silver
Property, Nevada
VANCOUVER, BC
,
Nov. 19, 2024
/CNW/ - Stuhini Exploration Ltd. ("
Stuhini
" or the
"
Company
") (TSXV: STU) and (OTCQB: STXPF) is pleased to announce an expansion of its land
holdings at its Nevada Red Hills Project (the "
Project
" or "
Property
") through additional claim
staking by the Company. The size of the land position has increased from 557.8 acres to (225.7
hectares) to 2396.7 acres to (969.9 hectares).
The new claims were staked to cover areas where fieldwork identified the formation of jasperoids
along structures, recrystallized limestones, localized calc-silicate alteration, hematite staining, and
calcite veining. Samples of altered bedrock were collected for analysis and will be used with other
datasets to identify potential drill targets. Upon exercise of the Red Hills Option Agreement, the
project vendors will be entitled to a 2.5% gross returns royalty on the newly staked grounds, subject
to Stuhini's right to purchase 1.5% of the royalty for
US$1.5 million
. (see News Release dated
Oct
28, 2024
for more details on the royalty)
Stuhini President and CEO,
Dave O'Brien
, commented: "Based on a site visit and a review of the
data on the Red Hills Project, it was clear that additional ground needed to be staked to cover the
larger alteration footprint of the target. Both recent and historical fieldwork programs have
highlighted this new ground as needing further investigation. We are confident in the untapped
potential of this Project and believe that our comprehensive efforts will lead to compelling exploration
targets."
The technical disclosures contained in this news release have been approved by Ehsan Salmabadi,
the Company's Vice President Exploration and Project Development and P. Geo., who is a "Qualified
Person" for the purposes of National Instrument 43
101
Standards of Disclosure for Mineral
Projects
.
Red Hills Project
Red Hills Project is a polymetallic, carbonate replacement deposit ("
CRD
") target located
approximately 68 km northeast of
Ely, Nevada
, on the southwestern flanks of the Kern Mountains in
the central portion of the Red Hills in
White Pine County
. The Project is located in a favourable
structural and lithostratigraphic setting. Access to the Property from
Ely
is approximately 137
kilometres ("
km
") by paved and county-maintained roads.
From 1908-1918, the Property had limited historic production. There has been limited drilling on the
Property, with the best historic result being 17 metres ("
m
") of 129.7 grams/tonne ("
g/t
") Ag, 0.15
g/t Au, 2.42% Pb, 0.92% Zn, including
12m
of 179.2 g/t Ag, 0.20 g/t Au, 3.29% Pb, 1.18% Zn.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company 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 its flagship Ruby Creek Property, 14 km east of
Atlin, BC
;
the Red Hills Project, 68 km northeast of
Ely, Nevada
; 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 the Lindsay Project 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 the Red Hills Option
Agreement, the exercise of the Option (as defined in the Red Hills Option Agreement), the
generation of future drill targets and the market outlook for silver projects. 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
exchange rates, 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 management discussion and analysis.
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:
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 19-NOV-24