VANCOUVER, BC, June 14, 2022 /CNW/ – Stuhini Exploration Ltd. (the “Company” Where “stuhini“) (TSXV: STU) is pleased to announce that SkyTEM Surveys Canada (“SkyTEM”) has conducted a high resolution airborne geophysical survey of its Big Ledge Zinc Project (the “Project”, “Property” or ” Big Ledge”) located 57 kilometers (“km”) south of Revelstoke, BC. The 50.93 km2 survey utilized SkyTEM’s proprietary Time Domain Electromagnetic and Magnetic (“TDEM”) surveying system, which is attached to a helicopter. The results are used as an aid in mapping the geology and possible extensions of mineralization.
Preliminary survey maps reveal magnetic and electromagnetic signatures that coincide with known occurrences of surface mineralization. The overlapping signatures continue across the property for approximately 14 km and are interpreted to represent the mineralized horizon and demonstrate the potential for resource expansion.
About the Big Ledge Zinc Project
The Big Ledge covers 5,093 hectares and is accessible by forest service road from Highway 23. Mineralization consists of sphalerite, pyrite, pyrrhotite, galena, with lesser amounts of chalcopyrite and marcasite hosted in a strongly folded assemblage of marble and quartzite known as the “Ledge Unit” within the metamorphic Shuswap Complex of the Proterozoic Monashee Group. Between 1948 and 1966, a total of 10,060 meters of drilling was completed by Cominco. Drilling intersected up to 60 meters of mineralization Cominco has declared an estimated non-conforming mineral reserve of approximately 100 million tonnes of 4% zinc (with some lead), including approximately 10 million tonnes of zinc at 7%. (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 a mineral reserve. Stuhini does not process the historical estimate as a current mineral resource or mineral reserve, has not verified and does not rely on the historical resource estimate. Stuhini does not currently plan to carry out any work to verify the historical reserve estimate).
Dave O’Brien, the company’s president and chief executive, commented; “We are pleased to see that the geophysics match the known mineralization and indicate that the mineralized horizon may extend well beyond the Teck Resources Crown claims, and onto the Company claims surrounding the claims. The project’s location and proximity to power and infrastructure make Big Ledge a very attractive zinc asset.”
Andrew WilkinP.Geo., a “qualified person” for the purposes of National Instrument 43-101, has reviewed and approved the contents of this press release.
SkyTEM is a leading airborne geophysical survey company offering advanced TDEM, magnetic and radiometric data acquisition and processing. Their TDEM survey technology has a unique dual moment capability to simultaneously map shallow and deep geology in high resolution.
About Stuhini Exploration Ltd.
Stuhini is a mining exploration company focused on the exploration and development of its base and precious metals properties in the west Canada. The Company’s exploration property portfolio includes: its flagship property, 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, MB; and the Big Ledge property located approximately 57 km south of Revelstoke, BC.
This press release contains “forward-looking statements” within the meaning of Canadian securities laws. . These forward-looking statements regarding 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, general economic and financial market conditions; accuracy of analysis results; geological and geophysical interpretations of sampling and survey results; the effect of Covid-19 on the Company’s ability to conduct exploration activities and the performance of available laboratories and other related services; the effects of Covid-19 and the war in Ukraine general economic conditions, input costs and availability, and commodity prices; and future exploration costs. Actual results could differ materially from those anticipated in these forward-looking statements due to risk factors, including: lower estimates of future raw material prices, timing and content of work programs; the results of exploration activities and the development of mineral properties; interpretation and uncertainties of sampling results and other geological data; receipt, maintenance and security of mining permits and titles; environmental and other regulatory risks; relations with local communities and indigenous peoples and their claims; project cost overruns or unforeseen costs and expenses; the availability of funds and general market and industry conditions. Forward-looking statements are based on the expectations and beliefs of the Company’s management as of the date the statements are made. The assumptions used in the preparation of these statements, although believed to be 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 are not valid only on the date on which the declarations were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this press release if such 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.
SOURCEStuhini Exploration Ltd.
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