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Stuhini Exploration Explores Updating Historic Ruby Creek Molybdenum Resource
Stuhini Exploration Explores Updating Historic Ruby Creek Molybdenum Resource C...
About this update from Eranova Metals Inc.
[{"type":"text","content":"\n \n \n \n Stuhini Exploration Explores Updating Historic Ruby Creek Molybdenum Resource\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n June 7, 2021\n \n /CNW/ - Stuhini Exploration Ltd. (the \"\n \n Company\n \n \" or\n \n Stuhini\n \n \") (TSXV: STU) (\n \n USA\n \n : STXPF) announces that it is exploring updating the historic molybdenum(\"Mo\") Resource on its Ruby Creek Project.\n \n \n \n \n \n \n \n \n \n With the continued increase in the price of Mo to recent highs of over\n \n US$14.00\n \n per pound, the Company believes that the economic outlook for the historic Ruby Creek Molybdenum resource located within the Ruby Creek Project has improved sufficiently for the Company to explore updating the Mo resource to a current resource in accordance with the requirements of National Instrument 43-101 (\"NI 43-101\").\n \n \n The Ruby Creek Molybdenum resource, using a 0.04-per-cent Mo cut-off grade, has a historic measured and indicated resource of 275.4 million tonnes grading 0.067% Mo for 407.9 million lbs Mo, and an historical inferred mineral resource of 39.1 million tonnes grading 0.062 per cent Mo for 53.7 million lbs Mo.\n \n \n The Ruby Creek molybdenum resource estimate was prepared by K. Palmer of Golder Associates in a report dated\n \n May 28, 2009\n \n , titled Ruby Creek Molybdenum Project in\n \n Northern British Columbia, Canada\n \n . The resource estimate was established using 338 drill holes with a combined length of approximately 69,200 metres and 21,651 assay samples. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. Stuhini is not treating the historical estimate as a current mineral resource, has not verified the historical resource estimate and is not relying on it. Stuhini is currently exploring the possibility of verifying the historical resource estimate if warranted and will announce its decision when made.\n \n \n \n Ruby Creek Project:\n \n The 27,354-hectare Ruby Creek ...