Hunt Mining Signs Agreement With Fomicruz SE
LIBERTY LAKE, Wash., May 07, 2019 (GLOBE NEWSWIRE) -- Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX VENTURE: “HMX” OTCQB: “HGLD”) is pleased to announce that on April 24, 2019 Hunt Mining’s wholly owned subsidiary Cerro Cazador SA (“CCSA”) and Fomicruz SE established the schedule to advance the La Josefina and La Valenciana Projects to form an autonomous corporation framework and proceed toward production.
Danilo Silva, Country Manager & President of CCSA signed on behalf of the Corporation at meetings held in Rio Gallegos, Santa Cruz province, Argentina. Signing on behalf of Fomicruz S.E., the wholly owned mining company of the Santa Cruz province was Mr. Estaban Tejada, President of Fomicruz.
This agreement permits the continuation of metallurgical testing at the Martha Mill on higher grade material; that greater than 6 g/t Au at 1,500 tonnes per structure from Ailin, Sinter and Amanda Cecilia veins at the La Josefina Project. Preliminary testing of the Ailin zone was completed in 2018. Initial work on column heap leach testing on mineralized material below 6 g/t Au has begun, which will be integral to a feasibility study as the testing moves forward.
The structure of the agreement is as follows:
- Consolidate documentation related to the La Josefina and La Valenciana Projects, which will permit both companies to develop the legal framework for the production stage and to treat the two adjacent properties as one project.
- CCSA/Hunt Mining will follow through with the following:
- Presentation of the Legal Surveys related with both properties;
- Feasibility Study and Environmental Impact Report for the Production Stage;
- Authorization to develop the activities expressed on a) and b);
- Authorization to develop complementary exportation of mineral concentrates.
Additional information on the La Josefina Project and other Santa Cruz, Argentina projects can be viewed on the Company website at: .
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 Mine, located in the Santa Cruz Province, Argentina.
For more information contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
E:
Bob Little
Chief Administration Officer
T: (509) 290-5659
E:
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.
Martha - Ongoing activity at the Martha Project is being undertaken without established mineral resources or reserves and the Corporation has not established the economic viability of the operations on the Martha Project. As a result, there is increased uncertainty and economic risk of failure associated with these activities. Hunt filed an updated NI 43-101 Technical Report (“Technical Report”) for the Martha Project, dated October 12, 2018 titled “Martha Silver and Gold Project, Santa Cruz, Argentina”, which is currently available on SEDAR and on the Corporation’s website at:
