Hunt Gold Corporation -- Drilling Updates & Assay Results
December 22 2008 - 7:30AM
Marketwired
Hunt Gold Corporation (PINKSHEETS: HGLC) confirms the successful
completion of its 2008 drilling program at its "Mockingbird" Gold
Project in Arizona.
-- Drill Holes 1 to 6 completed.
-- Cores from all six drill holes are in the process of being split, and
being forwarded to Jacobs Assay in Tucson, Arizona.
-- 2009 Drilling Campaign to resume on January 10, 2009.
-- Assay Results from the first 6 Drill Holes to be released by mid
January 2009.
Hunt Gold Corporation's CEO, Mike Saner, stated that, "The drill
campaign has been extremely encouraging on both the geological and
mineralogical levels. All of the first six drill holes appear to
have intercepted the altered and mineralized zones. First at the
Pocahontas Gold Mine and then at the Great West Gold Mine. We are
looking forward to resumption of drilling next year at the Dandy
Gold Mine, where past sampling has indicated some of the highest
gold grades for the 'Mockingbird' Gold Project."
The 2009 "Mockingbird" Gold Project drill campaign will begin on
January 10, 2009, once the Tonatec drillers have completed their
annual Mine Safety and Health Administration (MSHA) and OSHA
certification training.
The drill rig will be moved to the Dandy Gold Mine at that
time.
The fifth hole was collared at the Great West Gold Mine on
December 17, 2008, approximately 100 feet downhill and on strike
with the fourth hole. It was completed on December 19, 2008
following an unusual snow storm that closed area roads, as well as
Las Vegas McCarran Airport. It was drilled at a 60 degree angle and
intercepted the brecciated zone between 100 feet and 110 feet.
There was significant iron oxide overprint as well as
silicification. In a very encouraging development, pervasive
fracturing with iron staining was found at local intervals both
upholder and down hole from the target zone. The hole was
terminated at a depth of 155 feet, which is approximately 100 feet
down dip from the surface expression of the vein.
The sixth hole was drilled from the same drill pad as the fifth
hole, but at a steepened angle of 75 degrees. It was expected to
encounter the altered and mineralized zone at a depth of 140 feet,
which would have been 150 feet down dip from the vein at the
surface. Instead, the hole intersected the target zone at a depth
of 118 feet to 128 feet. This is again suggestive of listric
faulting, which is a typical characteristic of detachment fault
gold deposits like the Mockingbird gold deposit. The altered and
mineralized zone was brecciated and iron stained, with some
silicification. The hole was terminated at a depth of 185 feet on
December 20. Toward the bottom of the hole significant pyritization
was encountered in an aphanitic rock unit, which will also be
submitted for assay.
Cores from all six drill holes are in the process of being
split, and being forwarded to Jacobs Assay in Tucson, Arizona.
Chain of custody standards are being observed throughout the
process. Assay results are expected in mid January 2009.
ABOUT HUNT GOLD CORPORATION
Hunt Gold Corporation is a Gold Mining & Exploration Company
focused on the development and exploration of its Gold properties,
namely "Mockingbird," "Ambassador," "Golden Eagle," "Gladstone
Lookout," "Lady Alde," "Lookout Silver," "Starlight," "American
Flag," "Venezia," "Stormcloud," "Cherry," "Buffalo Limecap," "Red
Cloud" and "Federal." The Company has completed the sale of its
"American Molygold" interests and will be distributing the entire
sale proceeds through a Stock Dividend to its stockholders, this to
be announced in January of 2009.
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company's annual report on Form 10-K or 10-KSB and
other filings made by such company with the SEC.
For further information contact: Hunt Gold Corporation E Mail:
Email Contact Telephone: (954) 840-6956 Contact: Mr. Michael G
Saner
Hunt Gold (CE) (USOTC:HGLC)
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