Stuhini Exploration Corporate Update
The company reports unsolicited expressions of interest for its 476 million lb molybdenum deposit
at its 100% owned Ruby Creek Project.
Stuhini's current market cap is only C$5.1 million with 46.5 million shares outstanding.
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Molybdenum 2 thru 15 month forward contracts are currently quoted at US$22.00/lb
Stuhini Provides Corporate Update
NEWS PROVIDED BY
Stuhini Exploration Ltd.
VANCOUVER, BC, Oct. 9, 2024 /CNW/ - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSX-V: STU) and (OTCQB: STXPF) wishes to provide a corporate update on 2024 exploration activities at its Que and Big Ledge projects and corporate matters pertaining to its Ruby Creek Project (Ruby Creek).
Big Ledge Project
Stuhini exploration crews conducted a geological mapping, prospecting and soil sampling program at its Big Ledge Project, located just south of Revelstoke, British Columbia. The program focused on a less explored 2 km section of the ~14 km mineralized strike length east of Pingston Creek. The resultant zinc soil anomaly is coincident with the historic IP geophysics and extends through the explored section; however, the overburden is believed to be much deeper, resulting in a less pronounced anomaly. The 100% owned Big Ledge zinc Project is road accessible and covers 5,093 hectares.
Que Project
Stuhini personnel conducted a targeted soil sampling and prospecting program at its Que Project located in Yukon, Canada. The program's purpose was to ground truth two geophysical anomalies outlined by a previous magnetic and electromagnetic survey by the Company. 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.
In other Company news, Stuhini President and CEO David O'Brien recently attended the IMOA (International Molybdenum Association) AGM which was held in Tokyo, Japan. Several meetings were held to discuss the Company's 100% owned Ruby Creek Molybdenum Project. The Company has received unsolicited expressions of interest in its Ruby Creek project and has had discussions which are continuing regarding strategic alternatives for the Ruby Creek project.
Lastly, over the past 12 months, the Company has been investigating new project opportunities. The process is ongoing, and thus far, several projects have been reviewed by Company personnel. As new projects are taken on, the Company will seek strategic alternatives for some of the projects it currently holds.
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 exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company's 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; the Big Ledge Property, 57 km south of Revelstoke, BC; and the Lindsay Project in southeast Arizona.
Source :
[url=]https://www.newswire.ca/news-releases/stuhini-provides-corporate-update-850509667.html [/url]
GLTA !