“MDA has developed a very robust resource model that will form the basis for future economic studies,” Ehsan Salmabadi, Stuhini’s VP of exploration, noted. “Our efforts in the coming months will focus on internal scoping studies to give us guidance on our next steps in assessing the economics of the Ruby Creek molybdenum deposit.”
The Ruby Creek property, also known as Adanac (named after its former operator), is located in the heart of the Atlin gold camp, with seven significant placer creeks within the tenures that are also prospective for base and precious metals. The molybdenum deposit was advanced by Adanac through feasibility, permitting and funding, until its mine construction was derailed by the 2008 financial crisis.
Stuhini currently has an option agreement with Global Drilling Solutions to acquire the asset, which can exercised by making share and cash payments totalling C$1.06 million over a four-year term.
