01/12/22
STUHINI IDENTIFIES NATIVE GOLD WITH COPPER, SILVER AND TUNGSTEN IN BOTH HISTORICAL DRILLING AND CURRENT SURFACE SAMPLING WITHIN THE SURPRISE LAKE BATHOLITH, ATLIN, BC, CANADA
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Vancouver, Canada – January 12th, 2022 – Stuhini Exploration Ltd. (the “Company” or “Stuhini”) (TSX-V: STU) is pleased to provide an update on gold exploration work at the Ruby Creek Project, 14 kilometres east of Atlin, BC, Canada.
Highlights from 2021 Sampling
● native gold identified in two historic condemnation drill holes.
● Assays of 5.72 g/t Au, 167 g/t Ag, 0.18 % Cu and 1.35 % WO3 over 1.75 metres, including 9.27 g/t Au, 225 g/t Ag, 0.30 % Cu and 2.19 % WO3 over 1 metre from the extension of the Black Diamond Vein.
● 49 rock samples, of which 20 assayed over 1.0 g/t Au, and as high as 28.5 g/t Au, 1431.0 g/t Ag.
● 28 of these samples are from the northeast extension of the Black Diamond Vein, tripling the length of the known vein system
The Company has defined a one-kilometre-long gold trend extending from the historical Adanac Molybdenum resource southwest along Thor Ridge. The ridge hosts numerous veins including the Black Diamond and Emil veins. Surface sampling along this trend has confirmed the presence of gold, copper, silver, and tungsten mineralization. Current work has also identified native gold in two historic condemnation drill holes from 2008 (AD390 and AD393).
David O’Brien, President and CEO commented “The identification of free gold in sheeted veinlets from the historic Adanac Molybdenum condemnation drill core is great news as it supports our speculation of a potential intrusion-related gold bearing system in the area and another possible source for the incredible placer gold endowment of Ruby Creek and the Atlin camp.”
The condemnation drill holes are two kilometres east of the main molybdenum resource area and contain the following:
● AD-393 - 73.2 M @0.21g/t Au, 0.28g/t Ag
● AD-390 - 76.2m @0.15g/t Au, 0.42g/t Ag, including 21.35m @0.21g/t Au, and 0.11g/t Ag.
The Mineral Deposit Research Unit (MDRU) at the University of British Columbia performed detailed analytical work on the gold intersections from condemnation drill holes AD-393 and AD-390. Using a scanning electron microprobe (SEM) and an automated mineralogical procedure optimized to recognize gold, electrum was identified consisting of approximately 50% gold and 50% silver. The electrum is associated with bismite or bismuthinite and pyrite rimed by pyrrhotite within a 20 millimeter to sub-millimeter wide quartz vein hosted within the Surprise Lake Batholith (AD-390 at 34.6 metres). Many other veinlets with similar sulfide compositions also contained wolframite.
Four gold-bearing quartz-wolframite-scorodite-arsenopyrite bearing structures on Thor Ridge are hosted in the Surprise Lake Batholith and anomalous in bismuth and antimony. The sub-vertical structures identified on the ridge and the Black Diamond vein are on trend with the condemnation drill holes. It is speculated that these higher grade auriferous structures are peripheral to a potential bulk tonnage gold target that was intersected in the condemnation drilling and may be comparable to Victoria Gold’s Eagle Gold Mine in the Yukon Territory to the north, a Reduced Intrusion-Related Gold Systems.
Table 1 - Thor Ridge Sample Results
Figure 1 - Location Map of Gold Bearing Samples on Thor Ridge, SW of AD-390 and AD-393.
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, platinum and palladium 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). Conversion to WO3 % = W % x 1.2616. All results have passed the QA/QC screening by the lab.
Ruby Creek Project: The 28,631-hectare Ruby Creek Project is road accessible and located 14 kilometres (km) east of Atlin, 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 historic Ruby Creek Molybdenum resource, which has an intact BC Mines Act permit. Stuhini has an Option to acquire 100% of the Ruby Creek Project subject to a 1% Net Smelter Royalty.
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, a mineral exploration company, is focused on exploration and development of precious and base metals properties in western Canada. The Company 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; and the Big Ledge Property, 57 km south of Revelstoke, BC.
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 Option and the exercise of the Option. 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.
For further information please contact:
David O’Brien
President & Chief Executive Officer
Stuhini Exploration Ltd.
Email: dobrien@stuhini.com
Phone: (604) 835-4019
Web: www.stuhini.com