01/22/20
STUHINI ANNOUNCES RESULTS FROM THE RUBY CREEK PROPERTY
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Vancouver, Canada – January 22nd, 2020 – Stuhini Exploration Ltd. (the “Company” or Stuhini”) (TSX-V: STU) is pleased to announce completed compilation of assay results from its August 2019 due diligence examination of the recently optioned Ruby Creek Property (“Ruby Creek” or the “Property”).
Highlights
Encouraging mineralization on all portions of the property examined.
Up to 5.32 grams per tonne (g/t) gold, 1172 g/t silver, 0.45% copper, 6.37% zinc and >10% lead from surface grab samples taken from outcrop peripheral to the historic Adanac molybdenum resource.
Up to 7.5 g/t gold, 477 g/t silver and 0.7% copper from surface grab samples from the Ruby East area.
Up to 0.9 g/t gold and 17 g/t silver from surface grab samples from the Boulder/Birch Ridge.
Dave O’Brien, CEO noted “We are pleased with the Ruby Creek Reconnaissance results, especially considering these were unplanned exploration days due to inclement weather conditions which prevented us from mobilizing our crews to the Metla property as originally planned. What is compelling is the close proximity of these encouraging Pitt North sampling results to the edge of the historic proposed molybdenum pit. The compiling of these assay results confirms the gold and silver potential for the area and the current “working hypothesis”.”
The Ruby Creek property is located in the historic Atlin placer gold camp. Placer gold was discovered in the area in 1898. The largest Canadian gold nugget was also found in the Atlin area. Five placer creeks drain the Ruby Creek property. To date, the hard rock source for the placer gold has not been found. The Property is also the location of the undeveloped historical Adanac molybdenum deposit. Stuhini proposes that the geologic model for the area is an “Intrusion Related Gold system” with the Surprise Creek batholith being the hydrothermal mineralizing system responsible for depositing the granitic hosted Adanac molybdenum deposit and potentially sheeted gold veins peripheral to the intrusion and more distal gold within major structures in the surrounding host rocks.
The results from the limited summer program are encouraging with anomalous rock samples and soil samples from the four areas visited. A total of 75 surface rock samples and 8 surface soil samples were taken over the course of the program.
Pit North
The Pit North area is located immediately north of the proposed historic pit for the Adanac molybdenum deposit. Mineralization appears to be related to a shear zone that coincides with a creek valley northeast of Moly Lake, where 20 rock and 2 soil samples were taken. Sulfide bearing quartz veins, silicified mineralized breccia as well as mineralized diorite and granite was sampled within a 450 metre (m) x 250 m area. The two soil samples were anomalous in copper, lead, zinc and silver.
The following table highlights some of the samples from the Pit North area.
Of the 20 samples, 13 assayed greater than 0.1 g/t gold and 6 greater than 2 g/t gold. Sample 1893119 was described as comprised of 40% sulfide including galena, arsenopyrite, chalcopyrite and wolframite in an extensional quartz vein. The sample ran 4.0 g/t gold as well as 356 g/t silver and 0.45% copper. Proximal float sample 1893118 returned assayed values of 5.32 g/t gold.
All but one sample assayed greater than 1 g/t silver of which 8 assayed greater than 90 g/t silver. Sample 1893077 assayed 1,172 g/t silver and was described as a fine grained greyish white laminated quartz boulder with galena, pyrite and chalcopyrite. This sample also assayed 2.27 g/t gold, 0.15% copper, over 10% lead and 5.10% zinc. Another significant silver sample was 1893071, a gossanous quartz sulfide breccia in granite boulder which was host to galena, arsenopyrite, sphalerite and tetrahedrite and returned assays of 808 g/t silver as well as 0.14% copper and 2.59% lead.
Copper was also anomalous with 18 of 20 samples assaying greater than 100 ppm copper and 5 samples greater than 0.1% copper including two samples of 0.4% copper. Sample 1893079 was a random composite sample of 20-80 cm quartz vein in outcrop with banded euhedral quartz and sulfides including pyrite, galena, sphalerite and possible arsenopyrite.
Ruby East
Nineteen (19) rock samples were collected from the topographic high immediately north of Cracker creek and east of Ruby creek proximal to the Pato 2 and Daybreak “Wrigglite” showings. Most of the area is covered with sub-cropping scree. Samples were of the scree and returned anomalous gold assays with six samples greater than 0.1 g/t gold. Sample 1893155, a quartz vein hosted in a coarse grained quartz monzonite boulder, assayed 7.5 g/t gold.
Silver was also moderately anomalous in the area with 12 samples greater than 1 g/t. Sample 1893053, a light green and grey skarn boulder with quartz veining, ran 477 g/t of silver, 1.6 g/t gold and 0.10% copper. Eight (8) samples assayed greater than 100 ppm copper, five of which were greater than 0.1% copper up to 0.7% in sample.
Boulder/Birch Ridge
Eighteen samples were collected from the ridge between Birch and Boulder Creek proximal to the Lakeview showing. Samples were a mix of quartz veins, silicified breccia and altered granite. These samples returned assays with moderate gold and silver values with four samples assaying greater than 0.1 g/t gold and 7 samples greater than 1 g/t silver. Sample 1893114 assayed 0.9 g/t gold and 17 g/t silver. Sample 1893109 assayed 0.7 g/t gold and 17 g/t silver. Both samples were described as being rusty box-work weathered quartz veins hosted in Cache Creek terrane.
Western Ruby
In the western part of the property, six soil samples were collected in overburden using a 6 inch carbide tipped auger mounted on a Caterpillar skid steer loader. Samples were taken from the soil/bedrock interface. One sample assayed 0.28 g/t gold and 1.8 g/t silver.
Additional information on the Company and the Metla Property can be found in the Company's prospectus dated February 15, 2019, as filed on SEDAR. Additional information on the Ruby Creek Property can be found in the Ruby Creek Technical Report filed on SEDAR on November 7, 2019.
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 that is focused on the exploration and development of precious and base metal properties, with its focus on the Metla Property, located in northwestern British Columbia, Canada, approximately 150 kilometres south of the town of Atlin and the Ruby Creek Property located approximately 24 kilometres east of Atlin.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward‑looking statements concern the Company’s strategic plans, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from sampling, and geological information projected from sampling results. Such forward‑looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from sampling results, timing and amount of capital expenditures; performance of available laboratory and other related services; and future exploration costs. The actual results could differ materially from those anticipated in these forward‑looking statements as a result of the risk factors including: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of sampling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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) 418-4019
Web: www.stuhini.com