Stuhini Exploration Ltd. Stakes New Nickel Property
VANCOUVER, May 27, 2021 - Stuhini Exploration Ltd. (the "Company" or Stuhini") (TSXV: STU) is pleased to announce that it has acquired through staking seven Mineral Exploration Licenses (MEL) covering 47,509 hectares along the southern extent of the Thompson Nickel Belt, approximately 35 km northwest of Grand Rapids, Manitoba. The five separate MEL blocks (T1, T2, T3, T4, and T5; Figure 1) cover prospective ground that hosts relatively untested target horizons and covers parts of the Winnipegosis Komatiite Belt. Sporadic drilling in the 1980s and 1990s encountered anomalous nickel grades such as 0.37 % Ni over 45.7 metres, along with 0.52 % Ni over 4 metres (diamond drill hole GR-1-83, T1 block). Nickel depletion within dunites and komatiites ranging from 167 ppm to 850 ppm Ni over 194 metres (diamond drill hole RP91-1A, T5 block) is interpreted to represent nickel dropping out of the magma and settling to form a sulfide body. Furthermore, T2 to T5 blocks have not had any modern deep-penetrating airborne electromagnetic geophysical surveys flown over them and have only been surveyed using older systems from the 1990s. The T1 block has received partial coverage by a VTEM survey in 2007. The results of the 2007 survey generated coincident electromagnetic/magnetic anomalies referred to as the TEX 1 target in Figure 2. This target has not been drilled. Previously in 1997, Falconbridge had drilled a single hole (DDH WL97-183) which intersected the southern edge of the TEX 1 electromagnetic anomaly, and encountered 27.85 metres of 0.32% Ni starting at a depth of 118.15 metres.
Dave O'Brien, Company President and CEO, commented, "Since conception of the Company, the geological team has reviewed numerous projects and we felt these South Thompson Nickel prospects were too attractive to pass up on. These historic exploration targets have seen minimal modern exploration work and we are hopeful that new advances in geophysical survey methods will lead to new discoveries."
The geological content of this news release has been reviewed and approved by Andrew Wilkins, P. Geo., a qualified person as defined under the terms of National Instrument 43-101.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metal properties in western Canada, with its focus on the Ruby Creek Property located approximately 20 km east of Atlin, BC; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; the Que Property located approximately 70 km north of Johnson's Crossing in the Yukon.
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company's strategic plans, timing and expectations for the Company's exploration and drilling programs, estimates of mineralization from sampling, and geological information projected from sampling results. Such forward-looking statements or information 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 interpretations from sampling results, timing and amount of capital expenditures; the affect of Covid-19 on the Company's ability to conduct exploration; performance of available laboratory and other related services; 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: 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; 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.
Contact
David O'Brien, President & Chief Executive Officer, Stuhini Exploration Ltd., Email: dobrien@stuhini.com, Phone: (604) 418-4019, Web: www.stuhini.com