2022-06-14 06:09:48
VANCOUVER, BC, June 14, 2022 /CNW/ – Stuhini Exploration Ltd. (the “Company” or “Stuhini“) (TSXV: STU) is pleased to announce that SkyTEM Surveys Canada (“SkyTEM”) has completed a high resolution airborne geophysical survey at its Big Ledge zinc project (the “Project,” “Property” or “Big Ledge”) located 57 kilometres (“km”) south of Revelstoke, BC. The 50.93 square km survey utilized SkyTEM’s proprietary time domain electromagnetic (“TDEM”) and magnetic survey system which is attached to a helicopter. The results are used as an aid in mapping the geology and the possible extensions of mineralization.
Preliminary maps from the survey reveal overlapping magnetic and electromagnetic signatures that coincide with known occurrences of mineralization on surface. The overlapping signatures continue across the property for ~14 km and are interpreted to represent the mineralized horizon and demonstrates the potential for expanding the resource.
About the Big Ledge Zinc Project
The Big Ledge covers 5,093 hectares and is accessible by a forest service road from Highway 23. The mineralization consists of sphalerite, pyrite, pyrrhotite, galena, with lesser chalcopyrite and marcasite hosted in a highly folded assemblage of marble and quartzite known as the “Ledge Unit” within the Shuswap metamorphic complex of the Proterozoic Monashee Group. Between 1948 and 1966, a total of 10,060 metres of drilling was completed by Cominco. The drilling intersected up to 60 metres of mineralization. Cominco reported a non-compliant estimated mineral reserve of approximately 100 million tons of 4% zinc (with minor lead), including about 10 million tons of 7% zinc. (Esperanza Minerals Ltd. Summary Report, 1980 – Property Report 521764). (A Qualified Person for the purposes of National Instrument 43-101 (“QP”) has not done sufficient work to classify the historical estimate as a current mineral resource or mineral reserve. Stuhini is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate and is not relying on it. Stuhini currently does not plan to conduct any work to verify the historical reserve estimate).
Dave O’Brien, Company President and CEO, commented; “We are pleased to see that the geophysics matches the known mineralization and indicates that the mineralized horizon possibly extends well beyond Teck Resources’ crown grants, and onto the Company’s claims surrounding the crown grants. The projects location and its proximity to power and infrastructure makes Big Ledge a very attractive zinc asset.”
Qualified Persons
Andrew Wilkins, P.Geo., a “Qualified Person” for the purposes of National Instrument 43-101, has reviewed and approved the contents of this news release.
About SkyTEM
SkyTEM is a leading airborne geophysical survey company offering the acquisition and advanced processing of TDEM, magnetic and radiometric data. Their TDEM survey technology has a unique dual-moment capability to concurrently map in high resolution both shallow and deep geology.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of it’s base and precious metal properties in western Canada. The Company’s portfolio of exploration properties includes: its flagship, the Ruby Creek Property, located approximately 20 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson’s Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; and the Big Ledge Property located approximately 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 concerning the Company’s strategic plans 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 and geophysical interpretations from sampling and survey results; the effect of Covid-19 on the Company’s ability to conduct exploration and the performance of available laboratory and other related services; the effects of both Covid-19 and the war in Ukraine on general economic conditions, input costs and availability as well as oncommodity prices; 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: downturn in future price estimates for commodities, 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; relationships with and claims by local communities and indigenous populations; 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.
