Stuhini Exploration News Release Stuhini Exploration Explores Updating historic Ruby Creek Molybdenum Resource
Vancouver, Canada – June 7th, 2021 – Stuhini Exploration Ltd. (the “Company” or Stuhini”) (TSX-V: STU and USA: STXPF) announces that it is exploring updating the historic molybdenum(“Mo”) Resource on its Ruby Creek Project.
With the continued increase in the price of Mo to recent highs of over US$14.00 per pound, the Company believes that the economic outlook for the historic Ruby Creek Molybdenum resource located within the Ruby Creek Project has improved sufficiently for the Company to explore updating the Mo resource to a current resource in accordance with the requirements of National Instrument 43-101 (“NI 43-101”).
The Ruby Creek Molybdenum resource, using a 0.04-per-cent Mo cut-off grade, has a historic measured and indicated resource of 275.4 million tonnes grading 0.067% Mo for 407.9 million lbs Mo, and an historical inferred mineral resource of 39.1 million tonnes grading 0.062 per cent Mo for 53.7 million lbs Mo.
The Ruby Creek molybdenum resource estimate was prepared by K. Palmer of Golder Associates in a report dated May 28, 2009, titled Ruby Creek Molybdenum Project in Northern British Columbia, Canada. The resource estimate was established using 338 drill holes with a combined length of approximately 69,200 metres and 21,651 assay samples. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Stuhini is not treating the historical estimate as a current mineral resource, has not verified the historical resource estimate and is not relying on it. Stuhini is currently exploring the possibility of verifying the historical resource estimate if warranted and will announce its decision when made.
Ruby Creek Project: The 27,354-hectare Ruby Creek Project is road accessible and located 20 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 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 is a mineral exploration company focused on the exploration and development of precious and base metal properties in western Canada, with its focus on the Ruby Creek Property located approximately 20 km east of Atlin, BC; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Que Property located approximately 70 km north of Johnson’s Crossing in the Yukon.
For additional information contact:
David O’Brien
President & Chief Executive Officer
Stuhini Exploration Ltd.
Email: dobrien@stuhini.com
Phone: (604) 418-4019
Web: www.stuhini.com
GLTA !