Liberty Lake, Washington, January 17, 2017 – Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX VENTURE: “HMX”) is pleased to announce the initiation of production operations at the Martha Project in Santa Cruz Province, Argentina. Machinery at the Martha Mill has been reconditioned and has proven capacity of 240 tonnes per day. The mill is processing an average of 120 tonnes per day and is producing concentrate.
During the last week of December 2016 and first week of January 2017, the mine blasted approximately 800 tonnes of material with an estimated grade of 1.1 g/t Au and 1,100 g/t Ag. Milling started this past week and it is planned to produce concentrate from this material with an Ag grade of over 30,000 grams Ag per tonne. All concentrate produced will be sold through the arrangement with Ocean Partners USA Inc. (“Ocean Partners”), as previously announced on November 29, 2016. This concentrate will be transported by truck to the port prior to February 15, 2017.
Under the terms of the agreement with Ocean Partners, the Corporation will deliver concentrate with a gold range of 30 to 70 grams per dry metric tonne (dmt) and a silver range of 30 to 100 kilograms per dmt to a loading port at Ocean Partner's option for shipment to customers. Concentrate will be shipped in one-tonne ore bags in standard or heavy-duty 20-foot containers for ocean freight transport. All saleable concentrate will be stored in a secured storage warehouse.
Klaus Triebel, Hunt Mining's Director of Project Development, is the Qualified Person under NI 43-101 who has approved the technical and scientific aspects of this press release.
Additional information on the Martha Project and other Santa Cruz, Argentina projects can be viewed on the Company website at: www.huntmining.com.
About Hunt Mining
Hunt Mining Corp. has continued to develop its properties as an active and aggressive explorer in Santa Cruz since 2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has completed exploration activity including 62,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 20,000 surface soil, sediment, channel, chip, and trench samples, beyond the historical work previous to the same properties. Hunt also owns a 100% interest in the Martha property, which includes the Martha Project, also located in the Santa Cruz Province of Argentina.
For more information contact:
T: (403) 617-7609
Chief Administration Officer
T: (509) 290-5659
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. The Corporation has provided the forward- looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Corporation’s control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Corporation will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.