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.
SOURCE Stuhini Exploration Ltd.
