Stuhini Stakes New Ground at Red Hills Silver Property,
VANCOUVER, BC, Nov. 19, 2024 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) and (OTCQB: STXPF) is pleased to announce an expansion of its land holdings at its Nevada Red Hills Project (the "Project" or "Property") through additional claim staking by the Company. The size of the land position has increased from 557.8 acres to (225.7 hectares) to 2396.7 acres to (969.9 hectares).
The new claims were staked to cover areas where fieldwork identified the formation of jasperoids along structures, recrystallized limestones, localized calc-silicate alteration, hematite staining, and calcite veining. Samples of altered bedrock were collected for analysis and will be used with other datasets to identify potential drill targets. Upon exercise of the Red Hills Option Agreement, the project vendors will be entitled to a 2.5% gross returns royalty on the newly staked grounds, subject to Stuhini's right to purchase 1.5% of the royalty for US$1.5 million. (see News Release dated Oct 28, 2024 for more details on the royalty)
Stuhini President and CEO, Dave O'Brien, commented: "Based on a site visit and a review of the data on the Red Hills Project, it was clear that additional ground needed to be staked to cover the larger alteration footprint of the target. Both recent and historical fieldwork programs have highlighted this new ground as needing further investigation. We are confident in the untapped potential of this Project and believe that our comprehensive efforts will lead to compelling exploration targets."
The technical disclosures contained in this news release have been approved by Ehsan Salmabadi, the Company's Vice President Exploration and Project Development and P. Geo., who is a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Red Hills Project
Red Hills Project is a polymetallic, carbonate replacement deposit ("CRD") target located approximately 68 km northeast of Ely, Nevada, on the southwestern flanks of the Kern Mountains in the central portion of the Red Hills in White Pine County. The Project is located in a favourable structural and lithostratigraphic setting. Access to the Property from Ely is approximately 137 kilometres ("km") by paved and county-maintained roads.
From 1908-1918, the Property had limited historic production. There has been limited drilling on the Property, with the best historic result being 17 metres ("m") of 129.7 grams/tonne ("g/t") Ag, 0.15 g/t Au, 2.42% Pb, 0.92% Zn, including 12m of 179.2 g/t Ag, 0.20 g/t Au, 3.29% Pb, 1.18% Zn.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company's portfolio of exploration properties includes its flagship Ruby Creek Property, 14 km east of Atlin, BC; the Red Hills Project, 68 km northeast of Ely, Nevada; the Que Project, 70 km north of Johnson's Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; and the Lindsay Project in southeast Arizona.
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.
For further information please contact:
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd.,
Email: dobrien@stuhini.com,
Phone: (604) 835-4019,
Web: www.stuhini.com
Source:
newswire.ca
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