Stuhini Stakes Additional Land at Ruby Creek
VANCOUVER, BC, Sept. 28th, 2020 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSXV: STU) (USA: STXPF) is pleased to announce the discovery of a new target and subsequent staking of additional claims covering a total of 619.38 hectares on the Ruby Creek Project in Northern British Columbia (the "Project"). The claims were staked along the northeastern portion of the tenures increasing the size of the Project from 26,735 hectares to 27,354 hectares.
Dave O'Brien, Company President and CEO, stated: "Our exploration team was quite upbeat about this new and unexpected discovery at Ruby Creek. The mineralization was nearing the Project boundary, so we acted immediately and staked more land to the northeast, thus providing a buffer around the discovery. The potential of a copper/gold porphyry in the area further validates the prospective nature of the Ruby Creek Project."
The new claims were staked to increase the land position in the area of a new copper mineral discovery located proximal to the northeastern boundary of the tenures. On surface, the zone appears to cover an area of approximately 5 metres by 10 metres and is comprised of mineralized sheeted quartz vein stringers hosted in a gossanous, coarse-grained granite. The quartz vein stringers are <5mm in width and have weak to moderate sericitic alteration envelopes with minor chalcopyrite and tetrahedrite. Weak sericitic alteration is also observed outside the exposure and a small patch of potassic alteration was found north of the showing across the valley. The sample shown in the photo above was from an area with abundant malachite and azurite in float at the base of an outcropping bluff. Samples collected have been sent to the Bureau Veritas lab in Whitehorse to be assayed with results expected later this year. Further work is planned to explore the porphyry potential in the area.
The Company also wishes to announce that it has now released its interpreted results generated from this seasons SkyTEM airborne geophysical surveys conducted on both the Ruby Creek and Que Projects. Geophysical Maps showing results for both EM (Conductivity) and Mag surveys have been uploaded to the Company website on the following links:
Ruby Creek Project Geophysical Maps: https://www.stuhini.com/ruby-creek-maps
Que Project Geophysical Maps: https://www.stuhini.com/que-maps
About the Ruby Creek Project: The 27,354-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. 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.
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 Ruby Creek Property located in northern British Columbia approximately 24 km east of Atlin and the Que Property located approximately 70 km north of Johnson's 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; the impact 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: 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, including competition for services and personnel. 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
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd., Email: [email protected], Phone: (604) 418-4019, Web: www.stuhini.com
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