Hunt Mining Signs First Gold Concentrate Agreement With Ocean Partners USA Inc.
May 08 2018 - 06:01AM
Hunt Mining Corp. (the “
Corporation” or
“
Hunt”) (TSX-V:HMX) (OTC:HMXZF) is pleased to
announce it has signed an Offtake Agreement (“Agreement”) with
Ocean Partners USA, Inc. (“Ocean Partners”) for the delivery of
Gold-Silver concentrate (“Concentrate”) from the La Josefina
Project (“La Josefina Project”) located in Santa Cruz Province,
Argentina.
As part of this agreement, Hunt will receive a
US $700,000 advance for the delivery of Gold-Silver concentrate
from the La Josefina Project and will receive a further provisional
payment upon shipment of the Concentrate from the loading port.
This Agreement is in addition to previous
agreements between the two companies on Silver-Gold concentrate
produced from the Martha Project and repays the advance with
deductions withheld through the shipments of Ailin vein concentrate
processed at the Martha mill. Grades tested and suitability
for processing at the Martha mill has thus far been very
satisfactory for fulfillment of the terms.
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 a part of this resource estimate.
Ocean Partners delivers successful trading
services to miners, smelters, and refiners. Ocean Partners operates
in a number of countries, including Canada, Chile, China, Cyprus,
Mexico, Mongolia, Netherlands, Peru, Taiwan, Turkey, United
Kingdom, and the United States, and retains agency representation
in Argentina, Australia, Bolivia, Brazil, Chile, Ecuador, India,
Japan, South Africa, South Korea, Central/Eastern Europe and the
former Soviet Union.
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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