VANCOUVER, BC, July 23, 2020 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSXV: STU) is pleased to announce that is has now received from SkyTEM the final report regarding the SkyTEM airborne geophysical survey that was recently completed on its Que and Ruby Creek Properties. The Company also wishes to announce that an updated Corporate Presentation has been posted on the Company website. Additionally, the Company also announces that Gary Robert Thompson has resigned from the Board of Directors to focus on his responsibilities as CEO and Chairman of Brixton Metals Corporation.
SkyTEM Airborne Geophysical Program: The recently completed survey was conducted on selected portions of the Ruby Creek and Que projects. The final survey consisted of approximately 1,400 line-kilometres (lkm) of which 425 lkm were flown at the Que Project and 975 lkm were flown at the Ruby Creek Project. Company geophysicist Todd Ballantyne is presently reviewing selected areas whereby mineralized showings are known to occur in the hope that the structural orientation of these showings can be deciphered. Additionally, exploration teams are presently ground-truthing geophysical anomalies in the hopes of discovering new mineralized showings on the tenures.
Preliminary reports from the SkyTEM survey helped the Company vector in on drill targets at the Que Project whereby a small 2 hole diamond drill program at the Camp Gossan zone(assays pending) has been completed. These preliminary results also directed our field teams to numerous anomalies in the Boulder and Quartz Creek areas of Project. As previously reported in a press release on June 29th, 2020, some of the samples collected had visible fine-grained gold and silver. Assays from five to these samples varied from 2.4 to 78.6 g/t gold and 37 to 1282 g/t grams per ton silver.
Resignation of Gary Thompson as Company Director: Dave O'Brien, Company CEO, President and Director commented: "On behalf of everyone at Stuhini, we would like to thank Gary for his invaluable contributions towards our growth. Gary has been a valued board member since before we completed our IPO, and he will be missed. We wish Gary the best in his future endevours."
Ruby Creek Project: The 26,735-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 as well as the past producing Ruffner Silver Mine. 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.
Que Project: The Que Project is road accessible from Yukon Hwy #6 (Canol Road) and is located 70 km north of Johnson's Crossing on the Alaska Highway. The Project is early stage and is 4,243 hectares in size. Stuhini has an option to acquire 100% of the Que Project, subject to a 1% Net Smelter Royalty. Further details regarding the Que Project can be found in the Company's news release dated Feb 21st, 2020.
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 Metla Property located in northwestern British Columbia approximately 150 kilometres south of the town of Atlin, the Ruby Creek Property located approximately 24 km east of Atlin British Columbia and the Que Project located approximately 70 km north of Johnsons Crossing in the Yukon Territory.