Liberty Lake, Washington, May 25th 2011 -- Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) is pleased to announce the intersection of a second wide interval of strong gold mineralization in the Sinter Zone at the La Josefina Project in Santa Cruz province, Argentina.
The results of this latest drilling continue to confirm high-grade gold mineralization. The Sinter Zone exhibits fossil hot spring characteristics with both near surface disseminated gold, as well as underlying structurally controlled mineralization. The first wide interval of shallow mineralization intersected at the Sinter Zone in hole SSI-D11-278, as reported on May 5th, 2011 hit 19.47 meters (63.88 feet) true width of 18.83 g/t (grams/tonne) gold, including 9.48 meters (true width) of 32.04 g/t gold, and 3.00 meters (true width) of 62.87 g/t gold.
Similar to hole SSI-D11-278, but located approximately 300 meters to the north, the second wide interval of mineralization intersected at the Sinter Zone in hole SSI-D11-299, starts at the surface and includes:
- 34.0 meters (111.5 feet) true width of 2.82 g/t gold, including
- 6.25 meters true width of 7.29 g/t gold, including
- 1.25 meters of 11.76 g/t gold and 0.65 meters of 15.57 g/t gold
Gold grades returned for other recent Sinter Zone holes not cited above (SSI-D11-288 to SSI-D11-298) range from below detection limit (< 0.01 g/t Au) to 30.12 g/t Au. A table with all 2011 drill results can be viewed at www.huntmining.com
The drill has now been moved from the Sinter Zone to the Veta Norte Structure at the La Josefina Project. An additional drill rig continues exploration at the Corporation's 100% owned El Gateado Project but will soon be relocated to the La Josefina Project to accelerate project development there. The Corporation continues to compile results from the Sinter Zone, which will be released upon completion.
- True widths 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.
- All drilling has been conducted in accordance with standard industry practices.
- All samples are being prepared and assayed by Alex Stewart Laboratories in Mendoza 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
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 43,000 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.
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.