Business & Finance
Business and Finance
Business and Finance
Tue, February 3, 2009 HuntMountain Announces High-Grade Results from Infill Drilling at La Josefina
SPOKANE, Wash.--([ BUSINESS WIRE ])--HuntMountain Resources Ltd. (OTCBB:HNTM)(FWB:MPT) is pleased to release new high-grade assay results from twenty diamond core holes drilled within the Veta Norte, Veta Amanda, and Veta Sur targets at the La Josefina gold-silver project in Santa Cruz, Argentina. The latest results include 1.5 meters (4.92 ft) of 13.05 grams/tonne (g/t) (0.38 ounces/ton) gold, 392 g/t (11.43 oz/t) silver, and 4.65% copper in Hole# SVN-D08-198. Additional selected high-grade intervals include:
| HOLE | From | To | Interval | Gold | Silver | Gold Equiv.* | Cu | Pb | Zn | |||||||||
| # | (m) | (m) | (m) | g/t | g/t | g/t | % | % | % | |||||||||
| VETA AMANDA | ||||||||||||||||||
| SVN-D08-176 | 261.6 | 267.6 | 6.0 | 4.30 | 40 | 5.11 | 0.86 | 0.01 | 0.06 | |||||||||
| including | 262.4 | 263.6 | 1.2 | 14.05 | 16.5 | 14.38 | 0.70 | Nil | 0.05 | |||||||||
| VETA SUR | ||||||||||||||||||
| SVN-D08-152 | 86.5 | 89.5 | 3.0 | 1.92 | 84 | 3.60 | 0.05 | 0.58 | 0.14 | |||||||||
| SVN-D08-155 | 71.0 | 73.3 | 2.3 | 3.64 | 114.5 | 5.93 | 0.55 | 0.76 | 0.10 | |||||||||
| VETA NORTE | ||||||||||||||||||
| SVN-D08-193 | 17.4 | 20.6 | 3.2 | 10.69 | 22 | 11.13 | 0.06 | 0.17 | 0.01 | |||||||||
| SVN-D08-198 | 104.2 | 108.9 | 4.7 | 7.52 | 159 | 10.71 | 1.98 | 0.45 | 0.06 | |||||||||
| including | 107.4 | 108.9 | 1.5 | 13.05 | 392 | 20.90 | 4.65 | 0.99 | 0.04 | |||||||||
| SVN-D08-200 | 80.6 | 81.6 | 1.0 | 5.59 | 102 | 7.63 | 4.21 | 0.05 | 0.02 | |||||||||
| SVN-D08-201 | 155.5 | 157.3 | 1.8 | 3.78 | 123 | 6.25 | 2.99 | 0.25 | 0.06 | |||||||||
| SVN-D08-206 | 85.9 | 87.1 | 1.2 | 9.65 | 24 | 10.14 | 1.24 | 0.09 | Nil | |||||||||
| and | 92.5 | 94.0 | 1.5 | 0.28 | 678 | 13.84 | 9.38 | 1.16 | 0.02 |
*Calculated at Ag/Au=50.
A complete table of drill results from the La Josefina project can be obtained at [ www.huntmountain.com/pdf/LJresults.pdf ] and within the project Technical Report on the Company's website. The drill hole numbers associated with this press release are SC-D08-037 and -058 within the Central zone, and SVN-D08-097, -100, -131, -146, -152, -154, -155, -156 -157, -159, -162, -168, -176, -193, -198, -200, -201, and -206 within the Veta Norte zone.
The new assays illustrate the continuity of high-grade gold, silver, and base metal mineralization within the broader Veta Norte zone. Drilling along the Veta Amanda, Veta Norte, and Veta Sur targets has been focused on testing the extent of mineralization at depth and along strike to the southeast.
"We are very pleased with the latest high-grade results from the Veta Amanda-Veta Sur system," said Matt Hughes, HuntMountain's Executive Vice President and COO. "Our drilling continues to intersect consistent precious and base metal grades at depth which will have a positive impact on the resource calculation. With over 4,600 core samples remaining in queue for assay, we expect a significant amount of news in the weeks ahead."
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. HuntMountain takes detailed digital photos of the entire core before it is cut by saw to half core which is assayed at ALS Chemex's La Serena laboratory. As part of quality assurance, quality control (QA/QC), HuntMountain has incorporated a detailed program of systematically introducing certified standards, blanks and duplicates into the sample stream. Half-core samples are being retained on site for verification and reference purposes.
The qualified person who has reviewed this news release is James F. Ebisch, M.Sc. Geology. He is a Registered Professional Geologist in the state of Oregon (G #928). The intervals of mineralization reported are not true widths. Based upon the angle of intersection of the drill hole and the vein projection, the Company's geological staff estimates that intervals average about eighty percent of true width.
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.
