STU Stuhini Exploration Ltd

VANCOUVER, BC, Jan. 12, 2022 /CNW/ - Stuhini Exploration Ltd. (the "Company" or "Stuhini") (TSXV: 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

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 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; the affect of Covid-19 on the Company's ability to conduct exploration; 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 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.

SOURCE Stuhini Exploration Ltd.