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Huntsman Hits High-Grade Nickel and Copper Mineralization Along 3 km Strike at Canegrass Nickel Sulphide Project, Western Australia

Vancouver, British Columbia, March 23, 2021 – Huntsman Exploration Inc. (TSXV: HMAN; US: BBBMF) (the “Company” or “Huntsman”) is pleased to announce the first assay results from its Phase I, 2021 drill program at the Canegrass Nickel Sulphide project in Western Australia. Multiple holes have intercepted Ni, Cu and Co mineralization near surface and at depth. The successful holes are located along a 3 km strike, indicating the system has significant growth potential (Figure 1). Of particular note, hole BBDD009 returned 41.1 m of favorable host rock with 31.2 m being mineralized including peaks of up to 2.8% Ni, 5.7% Cu and 0.15% Co, indicating a large layered intrusive complex. The recently completed 16-hole program follows up on the company’s highly successful 2018 drilling. Further assays are pending, and the Company is currently in the planning phase for the next drill program.

Core Drilling Highlights include:

Hole ID From (m) To (m) Length (m) Ni % Cu % Co % Pt g/t Pd g/t Zone
BBDD009 278.9 294.5 15.6 0.6 0.4 0.04     Tulloch
Including 278.9 279.2 0.3 0.2 1.4 0.02     Tulloch
Including 281.0 291.1 10.1 0.9 0.3 0.06 0.08 0.08 Tulloch
Including 281.0 286.0 5.0 1.0 0.4 0.06 0.05 0.08 Tulloch
Including 285.0 286.0 1.0 2.8 0.1 0.15 0.11 0.21 Tulloch
Including 289.0 291.0 2.0 1.8 0.5 0.11 0.22 0.17 Tulloch
Including 293.8 294.5 0.7 0.5 2.3 0.04 0.33 0.04 Tulloch
                   
Also 307.5 323.1 15.6 0.9 0.8 0.06 0.08 0.07 Tulloch
Including 312.0 315.1 3.1 2.2 0.2 0.15 0.15 0.21 Tulloch
Including 316.7 317.8 1.1 0.9 5.7 0.07 0.11 0.05 Tulloch
Including 316.7 320.0 3.3 0.8 2.4 0.06 0.09 0.06 Tulloch

RC Drilling Highlights include:

Hole ID From (m) To (m) Length (m) Ni % Cu % Zone
BBRC006 172.0 182.0 10.0 0.4 0.3 Sunline
Including 178.0 181.0 3.0 0.6 0.4 Sunline
BBRC007 197.0 215.0 18.0 0.2 0.2 Sunline
Including 201.0 203.0 2.0 0.3 0.5 Sunline
Including 210.0 214.0 4.0 0.4 0.3 Sunline
BBRC008 107.0 108.0 1.0 0.2 0.2 Winx
BBRC009 63.0 68.0 5.0 0.1 0.2 Saintly
BBRC010 143.0 145.0 2.0 0.1 0.2 Bone Crusher
BBRC011 55.0 63.0 8.0 0.4 0.2 Tobin Bronze
Including 57.0 59.0 2.0 0.7 0.3 Tobin Bronze
BBRC013 88.0 98.0 10.0 0.6 0.5 Tulloch
Including 92.0 95.0 3.0 0.8 0.7 Tulloch
BBRC014 136.0 143.0 7.0 0.6 0.4 Tulloch
Including 139.0 142.0 3.0 0.7 0.6 Tulloch

Phase I drilling intersected variable amounts of sulphides +/- oxides within the Layered Igneous Complex at the Canegrass Project. This successful phase of exploration was able to display both high-grade cores within a low-grade halo across multiple targets indicating that the Canegrass project is a very large system to be further explored. A significant highlight was the upgrading of Tobin Bronze, (just north of Tulloch) with BBRC011 which returned anomalous Ni and Cu from a relatively shallow depth whereas previous drilling at Tulloch and Sunline intersected mineralization that increased with depth.

Figure 1 - Target Locations along the Airborne Magnetics geophysical signature at the Canegrass Project, Western Australia

Figure 1. Target Locations along the Airborne Magnetics geophysical signature at the Canegrass Project, Western Australia

2018 drilling highlights include (see NR 03/03/21):

  • BBRC001 (Winx) 14m @ 1.17% Ni, 0.88% Cu, 0.05% Co, 463ppb Pd and 375ppb Pt from 65m, including 1m @ 2.70% Ni, 0.23% Cu, 0.12% Co, 751ppb Pd and 723 ppb Pt.
  • BBDD001 (Sunline) 0.57m @ 3.07 % Ni, 0.62% Cu and 0.24% Co from 144.1m.
  • BBDD002 (Tulloch) 14.25m @ 0.69% Ni, 0.82% Cu and 0.05% Co from 243.2, including 4.9m @ 1.33% Ni, 1.26% Cu and 0.10% Co. 

Peter Dickie, President and CEO for Huntsman, commented, “We are very pleased with this first round of assays. Not only did we discover mineralization at previously untested targets, but we hit wide intervals of mineralization, with significant high-grade peaks at the Sunline and Tulloch targets, where we have had tremendous success in the past. Just as importantly, we have intercepted mineralization at the new Tobin Bronze target, which is situated between Sunline and Tulloch. This speaks to the impressive potential for establishing a continuous trend over several km’s.”

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.

On Behalf of the Board of Huntsman Exploration Inc.

Peter Dickie
resident and Chief Executive Officer

For more information, please contact 1-855-584-0160 or [email protected].

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.

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