Liberty Lake, Washington, March 27, 2012 - Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) is pleased to announce the latest drill results from the La Josefina Project in Santa Cruz province, Argentina. A total of 57 assays have been received to date that were completed from September 2011 to December 2011. All results from these holes are from surface to a maximum depth of 227 meters.
The Corporation continues ongoing reconnaissance exploration, currently focused on trench and surface channel sampling, to define new and expansion drill targets within La Josefina and other key areas. In addition to this exploration, the main camp is undergoing a significant expansion to accommodate more personnel for upcoming drill programs. Construction of one or more satellite camps is also being initiated to service crews soon to be working on portions of the Corporation's 30 outlying projects.
The focus of this drilling and trenching was mainly reconnaissance in nature, testing outlying areas where little or no drill testing had previously taken place.
From the 57 holes reported, approximately 30% intercepted one or more assay intervals with gold greater than 0.5 grams per tonne (g/t), silver greater than 30 g/t and/or base metals (lead or zinc) greater than 5000 g/t.
Highlights from these remaining drill holes include:
Sinter Zone Highlights
- From 23 meters depth; 12 meters true width (39.36 feet) of 3.20 g/t gold, including
- 1 meter, true width, (3.3 feet) of 21.4 g/t gold
Sopresa Zone Highlights Hole SSO-D11-371:
- At 73.87 meters depth; 1.07 meters, true width, (3.5 feet) of 3.81 g/t gold,
- At 18.35 meter depth; 2.0 meters, true width, (6.5 feet) of 4.63 g/t gold, including
- 0.52 meters, true width, (1.7 feet) of 14.8 g/t gold
Gold and silver grades returned for other recent holes not cited above (SC-D11-347 to 349; SP-D11-350 to 355, 421 to 423, 425, 426, 431, 432, 434 to 437, 441 and 442; SSO-D11-356 to 384, 389, 416, 418, 419; SSI-D11-443 to 445) range from below detection limit (< 0.01 g/t Au) to 1.61 g/t gold, below detection limit (<0.01 g/t Ag) to 124.4 g/t Ag, 2 ppb to 1149 g/t Cu; below detection to 35,900 g/t Pb, and 15 ppb to 39,100 g/t Zn.
A table with all 2011 drill results can be viewed at www.huntmining.com.
- True widths at Sinter Zone reported above are considered to be the same as the drill hole intercept widths based on vertical orientation of drill holes, flat lying stratigraphic control of mineralization, surface mapping, and construction of cross-sections.
- True widths at other zones reported above are considered to be approximately 95% of the actual drill hole intercept widths based on angled orientation of drill holes, measured strike and dip of mineralized structures and cross-section analysis
- All drilling has been conducted in accordance with standard industry practices.
- All samples are being prepared and assayed by Alex Stewart Laboratories in Perito Morena Argentina.
- An analysis of the Corporation's QA/QC practices are reviewed in detail in the Corporation's current Technical Report in respect of the La Josefina Project, which is available at www.sedar.com
Mel Klohn, Senior Technical Advisor for the Corporation is the Qualified Person under National Instrument 43-101 who has approved the technical content of this new release.
About Hunt Mining Corp.
Hunt Mining Corp. has been an active and aggressive explorer in Santa Cruz since 2006. Since that time, the Corporation's wholly owned subsidiary, Cerro Cazador S.A., has completed a large amount of exploration activity including approximately 57,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 15,000 surface channel, chip, and trench samples. The Corporation is currently engaged in a resource expansion drilling campaign at the flag-ship La Josefina Project. Historical results and additional information can be viewed at www.huntmining.com.
Neither the TSX Venture Exchange nor its 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.
This announcement contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws, relating, but not limited to Hunt's expectations, intentions, plans and beliefs. Forward-looking information can often be identified by the use of words such as 'anticipate', 'believe', 'expect', 'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words suggesting future outcomes or other expectations including the economic and production potential of its exploration projects, the completion of a final feasibility study, the exercise by Fomicruz to purchase additional interest in the new corporation, the exercise by Hunt to purchase any or all of Fomicruz's interest in the new corporation, . Such forward looking-information is based on assumptions and current expectations that involve a number of known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, failure to establish estimated resources, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of mineral resources and unanticipated operational or technical difficulties and other risks and uncertainties set out in Hunt's annual and quarterly management discussion and analysis which are available at www.sedar.com. Such forward-looking information is based on a number of assumptions, including but not limited to, the availability of financing, no significant decline in existing general business and economic conditions, the level and volatility of the price of gold, the accuracy of Hunt's resource estimates and of the geological, metallurgical, price and other assumptions on which the estimates are based. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. Readers are further cautioned that the forgoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. Hunt does not assume the obligation to revise or update this forward-looking information after the date of this announcement or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.