Hunt Mining Chairman’s Corporate Update
March 01 2018 - 6:01AM
Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX VENTURE:HMX)
(OTC:HMXZF) is pleased to provide this update from Tim Hunt,
Chairman and CEO
Dear Shareholders:
2017 was a pivotal year for Hunt Mining and its
shareholders. Hunt’s first year of operation generated
revenues of more than $9.2 million from nine concentrate shipments
containing 549,323 ounces of silver and 624 ounces of
gold.
Key personnel include: Leon Hardy, Chief Operating Officer and
former VP of Operations for Coeur Mining; Klaus Triebel, Director
of Project Development, former Coeur Manager of Resource
Evaluation; new addition Dave Jarvis, former VP/GM of Coeur
Mexicana’s Palmarejo gold mine, and Director of Gold Mining
Operations in China for Eldorado Gold; and Danilo Silva, Argentina
Country Manager (also currently serving as president of Camicruz,
the organization of mining companies operating in the province of
Santa Cruz).
Argentina is steadily displaying a more welcoming business
environment under the leadership of a successful businessman turned
president, Mauricio Macri, elected to his office in late
2015. Hunt Mining is located in Santa Cruz province, one of
the most mining-friendly jurisdictions of South America with very
favorable geology. Santa Cruz has sprouted five operating
mines over the last 10 years.
Not counting the recent Martha acquisition, Hunt has already
invested over US $60 million into its previous properties
(exploration and drilling of 62,000 m of HQ diamond drilling) and
has now accumulated one of the largest mining packages in the
province with a total of 38 properties spread over 170 thousand
hectares. Better than 70% of the Company’s properties remain
unexplored. La Josefina is immediately adjacent to La
Valenciana. Both are being served by the Piedra Labrada camp
consisting of numerous portable buildings, generators, a mess hall,
kitchen and the core shack.
The Martha camp includes infrastructure such as the assay
laboratory, 60 person camp, numerous office and support buildings,
a stocked parts warehouse, generators, compressors, above ground
and underground mining equipment, stacking and crushing circuit,
and most significantly, the Martha 240 t/d flotation mill
(expandable to 480 t/d) with an estimated $25 to $30 million
replacement cost. Hunt has spent over $2 million dollars on
repairs and upgrades to the Martha mill, as well as rebuilding
several pieces of the mining equipment and the purchase of a new
CAT 320D excavator.
We look ahead to 2018 and continuing to develop dual revenue
streams from the silver of the Martha property and the gold from
Ailin and other La Josefina veins moving forward.
On behalf of the Board and Hunt Mining Corp., I thank you for
your continued interest and support.
Tim HuntChairman and CEO
Ongoing production 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 risks of failure
associated with these production activities. However, a NI
43-101 compliant technical report from 2010 exists for the La
Josefina project with Measured, Indicated and Inferred resources.
The Ailin vein is part of this resource estimate.
Klaus Triebel, Hunt Mining's director of project
development, is the qualified person under National Instrument
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, entering into production of silver and gold at the Mina
Martha property in January 2017. Since 2006, 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:
Dean Stuart Investor RelationsT: (403)
617-7609E: dean@boardmarker.net
Bob Little Chief Administration OfficerT: (509)
290-5659E: blittle@huntmining.com
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.
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