Business
Stuhini Exploration Ltd. Options Que Property in Yukon
VANCOUVER, Feb. 21, 2020 /CNW/ - Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSX‑V:STU) is pleased to announce that it has entered into an option agr
About this update from Eranova Metals Inc.
[{"type":"text","content":" VANCOUVER, Feb. 21, 2020 /CNW/ - Stuhini Exploration Ltd. (\"Stuhini\" or the \"Company\") (TSX‑V:STU) is pleased to announce that it has entered into an option agreement (the \"Agreement\") with Nokuyukon Holdings Ltd., an arm's length vendor (the \"Vendor\"), whereby Stuhini can acquire a 100% interest in the Vendor's Que Property (the \"Property\"), located in the south-central Yukon Territories, Canada (the \"Option\"). The Property was first staked in the mid 1960's after the discovery of several large rusty, gossanous kill zones. The rust zones are believed to indicate buried massive sulphide, however the overburden is up to 30 metres deep and very little outcrop occurs within the area. The property has been privately held by the Vendor's family since this time. The Vendor's family has instigated small scale exploration programs since the 1960's and have found gold bearing veins and a gold bearing felsic horizon on Kingdome Ridge. Soil sampling has also identified gold in soil anomalies. In the 2019 field season, Stuhini geologists spent an afternoon on the property conducting due diligence. During this visit, they confirmed the presence of the gossanous kill zones and the occurrence of gold mineralization within outcropping quartz veins. A grab sample collected during this visit assayed 11.7 g/t gold. The Que Project is road accessible from Yukon Hwy #6 (Canol Road) and is located 70 km north of Johnson's Crossing on the Alaska Highway. The Property consists of 108 mineral claims and is 2,246 hectares in size. The company staked an additional 1,996 hectares bringing the entire claims package to approximately 4,243 hectares. Hereinafter the entire claims package shall be referred to as the \"Que Project\". David O'Brien, President and CEO of Stuhini states \"we are pleased with the agreement as it potentially represents a new district in a relatively unexplored area of the Yukon. Only limited exploration has been done on the property and a modern, systematic exploration program is warranted. This potential acquisition is in line with our goal of enhancing shareholder value by acquiring and cost-effectively exploring high potential, mineral projects in western Canada. The relatively close proximity of the Property to both the Metla and the Ruby Creek Properties offers the Company optionality in that...