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.
Forward-Looking Statements
This news release contains "forward–looking information" within
the meaning of Canadian securities laws, which may include, but are
not limited to statements relating to the Red Hills Option
Agreement, the exercise of the Option (as defined in the Red Hills
Option Agreement), the generation of future drill targets and the
market outlook for silver projects. All statements in this release,
other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include regulatory actions, fluctuations
in exchange rates, metal and commodity prices, market prices,
failure to obtain permits, and continued availability of capital
and financing, and general economic, market or business conditions.
In particular, there is no guarantee that exploration work, as
proposed, or otherwise, will be completed on the Property or that
the Option will be exercised. Such forward-looking information
reflects the Company's views with respect to future events and is
subject to risks, uncertainties and assumptions, including those
set out in the Company's management discussion and analysis.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
There can be no assurance that any forward-looking statements or
information will prove to be accurate as actual results, and future
events could differ materially from those anticipated in such
statements or information. Accordingly, readers should not place
undue reliance on forward-looking statements or information. Except
as required by applicable securities laws, the Company undertakes
no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other
factors, should change.
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.