Hunt Gold Corporation -- Escalated Drilling & Exploration
January 30 2009 - 7:27AM
Marketwired
Hunt Gold Corporation (PINKSHEETS: HGLC) gives a comprehensive
update on its 2009 exploration program.
-- Nonstop Exploration & Drilling
-- Drilling to be expeditious and at best cost
-- Regular Announcements of Drilling Results
-- Regular Announcements of Assay Results
-- Continual expansion of the Company Gold Resources
-- Work on substantial advances towards production
-- First Assay Results to be published within two weeks
-- New Drilling Contracts being awarded to commence in February 2009
The Company will be continually drilling throughout the year to
expand its gold resource and to advance its gold properties toward
production. Nonstop exploration is at the heart of Hunt Gold's
business model. Drilling will be expeditious and at best cost.
Drill targets will continue to be selected in a prudent and
geologically sound manner. Announcement of assay results will be
regular and periodic as an ongoing part of the business.
The Company is extremely well funded and able to do whatever is
necessary to move its projects ahead. This differentiates Hunt Gold
Corporation from many other mining companies that have lately
encountered funding difficulties. Hunt Gold Corporation has been
able to attract top management and exploration talent, and will
continue to benefit from a much more competitive environment for
service providers to the mining industry.
Exploration will be done during 2009 at all of the Company's
Gold properties, primarily at but not limited to "Golden Eagle,"
"Ambassador," "Venezia," "Starlight" and "American Flag," as well
the continued "fast track" exploration taking place at the
Company's "Mockingbird" Gold Project.
The Company's fast pace of exploration work at the Mockingbird
Gold Project in Arizona is continuing. Project Geologist Ed
Huskinson and a geotechnician are completing the splitting and
logging of the drill cores from the final two holes of the recent
drill campaign. These holes were located at the Dandy Gold Mine.
This should be done by close of business today and the samples will
be shipped to the independent assay laboratory.
The independent assay lab should complete its work for the first
6 holes at the Great West and Pocahontas Mines by the end of next
week. The Company may make a partial announcement for these holes
at that time rather than awaiting the results for the final two
holes from that first drilling campaign.
In the meantime Hunt Gold Corporation is moving ahead full speed
getting ready for the next drill campaign.
The Company is obtaining bids from at least two drilling
companies for its next Mockingbird drill campaign, to begin by the
end of February. One of the drill companies will be visiting the
site early next week. The present intention is to use a
track-mounted or rubber tire (buggy) rig capable of reverse
circulation (RC) drilling. RC drilling is much more economical on a
per foot basis than core drilling and will permit the next drill
campaign to dramatically increase the footage drilled. Using such a
rig minimizes the need to construct drill roads, thus eliminating
environmental disturbance and greatly reducing BLM bonding
requirements.
Project Geologist Ed Huskinson will next week initiate a
comprehensive reconnaissance sampling program at the Company's
"Mockingbird" Gold property. Numerous additional mineralized areas
were discovered during the recent drill campaign, and this program
will inventory and sample the surface outcrops in a thorough way.
During the following two weeks, soil geochemical samples will be
taken on a 200 foot grid over priority areas, most notably the 56
recently staked claims in the former Anaconda project area.
Geochemical results will be posted onto a map and contoured, thus
generating "bulls-eye" targets for the next phase of drilling.
Hunt Gold Corporation's CEO, Mike Saner stated that "Hunt Gold
Corporation's exploration program at its 'Mockingbird' Gold Project
is expanding as we continue to learn new things about this exciting
gold property. Exploration will be done in a systematic way in
order to maximize 'Mockingbird's' potential for Hunt Gold
Corporation and its shareholders." He added that "the new policy of
nonstop but systematic drilling was expected to significantly add
to the Company's Gold Resources and given the return of the Gold
Price to a price in excess of US$900/oz; the Company's valuation
would continue to escalate rapidly."
Hunt Gold Corporation is committed to strict compliance with any
and all environmental requirements. As noted above, it is designing
its exploration program to minimize environmental disturbance. The
Company is also committed to mine safety. In cooperation with the
BLM and the Arizona State Mine Inspector, numerous former shafts,
adits and other workings on the Mockingbird Gold property have been
safety fenced, and official warning signs have been posted.
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," "Williamson," "Blue Copper Mine,"
"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 completed in February of 2009. The
Company has entered into an Agreement to dispose of its of its
"Lookout Silver" Mining Interests on February 2, 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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