HuntMountain Releases New High-Grade Assays from La Josefina Gold-Silver Project
Posted on September 30, 2008 at 07:30 AM EDT
HuntMountain Resources Ltd. (OTCBB: HNTM) (Frankfurt: MPT) released additional high-grade assays from its 25,000-meter diamond core drilling program at the La Josefina gold-silver project in Santa Cruz Province, Argentina. The latest results included 2.0 meters (6.6 feet) of 13.94 grams/tonne (g/t) (0.41 ounces/ton)(oz/t) gold equivalent(a) consisting of 13.46 g/t (0.39 oz/t) gold and 31.8 g/t (0.93 oz/t) silver and 0.77% copper in Hole# SVN-D08-089. The exploration program, now in its twelfth month, has focused on drill-testing targets previously identified by Fomicruz S.E. along a 10-kilometer long hydrothermal alteration belt that hosts multiple precious metal occurrences. The Company has aggressively drilled in three of four known mineralized zones–Veta Norte, Noreste (Sinter), and Central. Additional significant values include:
“Progress continues at La Josefina, and we are pleased with the consistency of high-grade results from the Veta Norte zone,” said Matt Hughes, Executive Vice President and COO. “Step out and infill drilling of the Veta Amanda-Veta Sur vein system will continue over the next several months with the subsequent results supplementing our resource calculation efforts this fall. The system remains open at depth and along strike to the south, and every hole we drill has the potential of increasing a gold and silver resource.”
The La Josefina Gold-Silver Project is located in the north-central portion of Santa Cruz Province in Patagonia’s highly prospective Deseado Massif and comprises an area of over 52,770 hectares. The property encompasses multiple precious metal occurrences within a 10 km-long hydrothermal alteration belt that is 1-3 km wide. The region hosts numerous precious metal mines in production and deposits under development. HuntMountain entered into a partnership agreement with Fomicruz S.E., the provincial mining company, to earn a 91% interest upon completion of a positive feasibility study.
Certified sample preparation, gold and silver fire assay, and 28 element ICP analysis were carried out by ALS Chemex in Mendoza, Argentina and La Serena, Chile.
A complete table of drill results can be obtained at www.huntmountain.com on the La Josefina project page and within the Technical Report. The most recent assays greater than 1 g/t gold, 1% copper, or 3% lead or zinc are included in the table below:
HuntMountain Resources Ltd. is a U.S.-based junior exploration company engaged in acquiring, exploring and developing precious and base metals properties throughout North and South America. The Company currently controls and operates projects in Santa Cruz Argentina, Chihuahua Mexico, Nevada USA, and Quebec Canada.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.
Vice President of Corporate Development
Steve Taylor, 509-892-5287
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