VANCOUVER, July 2, 2019 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSX.V: STU) is pleased to announce that it has started its phase I exploration program on its 6457 hectare and 100% owned Metla property. The property is located in northwestern British Columbia. 30 kilometres northwest of the past producing Golden Bear gold mine (15,044,867 grams of gold and 1,716,107 grams of silver, Minfile Report 104K 079), and 20 kilometres southeast of Brixton Metals' Au-Cu-Ag Thorn project.
In 2018, the Company contracted Geotech Inc. to conduct a VTEM airborne geophysical survey. Initial results of the 2018 geophysical program can be found in the Company's NI43-101 Technical Report dated February 20th, 2018 on Sedar at www.sedar.com.
The Company has hired Mr. Todd A. Ballantyne, P.Geo., of in3D Geoscience Inc. to interpret the airborne VTEM geophysical data. The newly interpreted data in conjunction with historical data will be used to help guide the 2019 field program. The purpose of the current program is to refine drill targets on the Metla Creek Zone and define potential new exploration targets.
Additionally, the Company has sent 36 rock samples collected during the 2018 field season to the Bureau Veritas analytical lab to be assayed. Assay results from these samples have now been received and will be released once they are compiled and reviewed by the companies Q.P. (Qualified Person)
Results from the 2017 mapping, prospecting and sampling program confirms the historical data. Some of the 2017 highlights include 21.3 g/t Au, 39 g/t Ag, 2.18% Cu from sample 1892554 in Zone F, and 3.2 g/t Au, 37 g/t Ag, 20.03% Zn, 0.17% Cu from sample J953538 in Zone C. Results of the entire 2017 sampling program can be found in the Company's Metla Property NI43-101 technical report.
The Company also announces the payment of the 2 shareholder loans including interest using the proceeds of the recent IPO offering, as disclosed in the prospectus.
David O'Brien, president and CEO of Stuhini states;
"I am excited to see this promising exploration project moving forward. I would like to thank all of those involved in the Company's recent successful IPO and corresponding listing as a tier 2 mining Company on the TSX Venture Exchange. Without the dedicated hard work of this talented team, the Company's IPO would not have come to fruition. I feel privileged to have been able to work with all of these people."
- Graham Moore, Shannon Obara and Don Wong at Haywood Securities
- Zahra Ramji at Haywood Council Getz Prince Wells
- Bernie Poznanski, Wendy Lee and the rest of the staff at Company council Koffman Kalef
- Alex Bayer formerly of Koffman Kalef
- Brett Theunissen and Andy Creetch at the TSX Venture Exchange
- Julia Lam and Sandy Hunter at our transfer agent TSX Trust
- Gord Lam at Etruscus Resources
- Barry Hanslit and Janet Miller on the Company's advisory board
- Andrew Wilkins, P. Geo, the companies Qualified Person who authored the Metla Technical Reports.
- Lucia Theny who co-authored the Company's Technical Reports
- Tony Fogarassy, Gary Thompson, Kazuki Nohdomi and Fiore Aliperti – the rest of the board of directors of the Company
- The Stuhini Executive team of Charles Kamimura and Yana Silina
About Stuhini Exploration Ltd - Stuhini is a mineral exploration Company that is focused on the exploration and development of precious and base metal properties, with its primary focus on the Metla property, located in northwestern British Columbia, Canada, approximately 150 kilometers south of the town of Atlin.
The geological content of this news release has been approved by Andrew Wilkins, P. Geo., who is a qualified person as defined under the terms of National Instrument 43-101.
Additional information on the Company and the Metla property can be found in the Company's prospectus dated Feb. 15, 2019, as filed on SEDAR.
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.
CAUTIONARY NOTE: This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "will be", "will have", "is expected to" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Important factors that could cause actual results to differ materially from the Company's expectations are the risks detailed herein and from time to time in the filings made by Stuhini Exploration Ltd. with securities regulators. Those filings can be found on the Internet at http://www.sedar.com.
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SOURCE Stuhini Exploration
For further information: Dave O'Brien, President and CEO, Stuhini Exploration Ltd., [email protected], Phone: 604 418-4019, Web: www.stuhini.com