Huntsman Fulfills Requirements, Exercises Option on Canegrass Nickel Sulphide Project, Western Australia

13.04.2021  |  ACCESS Newswire

VANCOUVER, April 13, 2021 - Huntsman Exploration Inc. (TSX.V:HMAN)(OTC PINK:BBBMF) (the "Company" or "Huntsman") is pleased to announce that it has completed the final requirements under the option agreement with Trafalgar Resources Pty Ltd and has exercised the option on the Canegrass Mineral Exploration Tenement. The Company now owns an undivided 100% interest in the Tenement.

Huntsman awaits the results of the final 3 holes of diamond core drilling at Canegrass and is nearing completion of the downhole EM and surface MLEM surveys, which is being conducted property wide at the Canegrass project. Results from these surveys, in conjunction with the compilation of final assays will allow detailed planning for Phase II drilling. All drill campaigns executed by Huntsman to date have been successful when using the combination of EM geophysics and drill hole assay results from neighboring mineralized lenses.

Peter Dickie, President and CEO for Huntsman, commented "I look forward to discussing the recently announced results from our drilling at Canegrass. We are very pleased with the assays, in particular when correlated with the results from 2018. Together, the results of both programs are confirming our belief in the blue-sky potential of this asset. Our exercising of the option, providing a 100% ownership will allow certainty moving forward as we continue to develop this project."

The following summary encapsulates the Company's positive outlook on the Canegrass project.

Phase I Highlights include:

• From prior EM surveys a total of 9 targets warranted drill testing and were the focus of the Phase I drilling campaign (Figure 2).
• Phase I included 16 holes, 12 RC and 4 diamond were drilled (Table 1).
• Phase I 2021 Diamond Drillhole BBDD009 at Tulloch was designed to test the mineralized zone at depth and was collared 55 m west of 2018 drillhole BBDD002, which intersected: 4.9 m of 1.33% Ni, 1.26% Cu and 0.1% Co. Drillhole BBDD009 results confirm 41.1 m of favourable host rock with 2 distinct mineralized horizons. (Figure 4).
  • The first intercept started at 278.9 m and included higher-grade intervals of
    • 1 m @ 2.8% Ni, 0.1% Cu, 0.15% Co 0.11 g/t Pt and 0.21 g/t Pd,
    • 0.7 m @ 2.3 % Cu, 0.5% Ni, 0.04% Co, 0.33 g/t Pt and 0.04 g/t Pd
    • 2 m @ 1.8% Ni, 0.5% Cu, 0.11% Co, 0.22 g/t Pt and 0.17 g/t Pd.
  • The second mineralized horizon occurs at 307.5 m downhole and intersected 2 higher grade intersections of
    • 3.1 m @ 2.2% Ni, 0.2% Cu, 0.15% C, 0.15 g/t Pt and 0.21 g/t Pd, and
    • 1.1 m @ 0.9%Ni, 5.7% Cu, .07% Co, 0.11 g/t Pt and 0.05 g/t Pd
• Phase I 2021 RC results from the Tulloch zone include (Figures 1 to 3):
  • 3 m @ 0.88% Ni, 0.4% Cu and 0.07% Co from 91 m downhole in BBRC013
  • 3 m @ 1.0% Ni, 0.58% Cu and 0.09% Co from 139 m downhole in BBRC014
  • This extends the Tulloch zone 100 m East for a total distance of 200 m and open in all directions (Figure 1 to 3).
• Successful follow up of the 2018 drill program with multiple Ni-Cu-Co-Pt-Pd intercepts in step out holes at the Tulloch and Sunline targets.
  • Notable 2018 intercepts (Figure 1 & 2):
    • (Tulloch BBDD002) 4.9 m @ 1.33% Ni, 1.26% Cu and 0.1% Co.
    • (Winx BBRC001) 14 m @ 1.17% Ni, 0.88% Cu and 0.05 Co from 65 m, including 1 m of 2.7% Ni, 0.23% Cu and 0.12% Co.
    • (Sunline BBDD001) 0.57 m @ 3.07% Ni, 0.62% Cu and 0.24% Co from 144.1m
• Prior to completion of the current MLEM and DHEM surveys, a total of 9 targets have been identified on the Canegrass Project. Phase I 2021 drilling focused on 4 of these targets, which reside in the northern part of the property (Figure 2).
• The Tulloch Ni-Cu zone is open in all directions and now has a total of 5 drill holes along a single east-west fence of drilling (Figure 3). Each hole has encountered various grades of mineralization along 200 m of drilling and down to 300 m in depth. Huntsman will begin to plan step outs to the north and south to further define a strike length of the mineralized horizons within the Wyemandoo Shear zone. It is Huntsman's belief that intercepts discovered to date should be pursued along the north-south strike of the shear zone and at depth to determine if the targets are linked, or a source of the current mineralized zones is part of a much larger system. Several known Australian Nickel Sulphide producing deposits have been discovered by following mineralization that ultimately led to a feeder system that formed the bulk of those deposits. Huntsman will continue ongoing evaluation of the potential of the Tulloch zone as well as additional targets on the property.
• All holes were reported as down hole lengths and were planned to intersect target EM plates as perpendicular as possible and are interpreted to be near true width.

Table 1. Phase I Drilling at Canegrass Project.

Update on Huntsman's Additional Assets

Baxter Springs Gold Project, Nevada

• Compilation of data ongoing.
• In the preparation phase for drilling to commence in Q2/Q3 2021.
• Historic results include:
  • BS-8: 60.4 g/t Au over 12.2 m incl 240 g/t Au over 3.1 m
  • BS-22: 2.49 g/t Au over 24.4 m.

Flint Gold-Silver Project, Idaho

• Compilation of data ongoing.
• Aeromag & Radiometric survey upcoming in Q2 2021 located south of the multimillion-ounce Delamar Gold deposit.
• Potential for bulk mineable and high-grade mineralization.
• Historic results from two veins in the Flint camp (on private land that Huntsman's property surrounds) include:
  • Surface veins having been described as containing 20 to 30 ounces per ton of silver (686 to 1,029 g/t silver), with gold values between 0.04 and 0.1 ounces per ton gold (1.25 to 3.13 g/t gold).

Figure 1. Aerial image of Canegrass Property boundary (inset) with high priority targets, at Tulloch, Sunline, Winx and Tobin Bronze with 2018 and 2021 drillhole collar locations.

Figure 2. Airborne Magnetic geophysical survey of the Canegrass Property boundary (inset) illustrating the Phase I targets at Tulloch, Sunline, Winx and Tobin Bronze

Figure 3. Cross section of 2018 and 2021 drill holes with historic results from Tulloch zone target.

Figure 4. Core sample of high-grade copper and nickel from BBDD009 at the Tulloch zone - assay returned 1.1 m @ 0.9% Ni, 5.7% Cu, 0.07% Co, 0.11 g/t Pt and 0.05 g/t Pd.

QA/QC

Drill core is logged at the Canegrass project site with cutting and sampling by project personnel being done at a nearby facility. Core samples from the program are cut in half, using a diamond cutting saw with half sent for assay at Intertek laboratory in Perth, Western Australia. The other half is secured and retained on site. All samples are analyzed for a 48 multi-element suite by four acid digest and ICP-MS determination. Select samples are analyzed for Au, Pt and Pd utilizing a 50 g Fire Assay with determination by ICP-MS. Certified reference standards and blanks are routinely inserted into the sample stream as part of Huntsman's quality control/quality assurance program.

Qualified Person

The technical content of this news release with respect to Canegrass has been reviewed and approved by Nathan Tribble, P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet visited the Canegrass Project and therefore has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

About Huntsman Exploration Inc.

Huntsman is a mineral exploration company focused on the exploration and development of the Canegrass Nickel Sulphide project in Western Australia under the Company's Huntsman nickel division, and the exploration and development of the Company's gold projects under the Huntsman gold division, specifically the Baxter Spring historical gold discovery in Nevada, and the Flint property in Idaho.

On Behalf of the Board of Huntsman Exploration Inc.

Peter Dickie
President and Chief Executive Officer
For more information, please contact 1-855-584-0160 or info@huntsmanx.com.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.

Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

SOURCE: Huntsman Exploration Inc.