Liberty Lake, Washington, June 21, 2016 - Hunt Mining Corp. ('Hunt' or the 'Corporation') (TSXV: 'HMX') is pleased to announce metallurgical test results from the La Josefina gold and silver project ('La Josefina Project') located in the Santa Cruz Province, Argentina. The La Josefina Project lies 110 kilometers from the Martha Mill, which was acquired by the Corporation on May 12, 2016.
The metallurgical testing focused on the Ailin vein at the La Josefina Project, with samples being sent to McClelland Labs in Reno, Nevada, as previously announced on March 30, 2016. The lab tested for whole ore cyanidation and flotation concentration.
Ailin ore, ground to 80% passing 100 mesh (150 micron), yielded recoveries of 96.0% Au and 72.3% Ag for 96 hours of whole ore cyanidation.
Flotation concentration tests of Ailin ore ground to 80% passing 200 mesh (75 micron) resulted in recoveries of 88.6% Au and 65.6% Ag.
The Bond's Work Index, determined at 100 mesh grind size on the Ailin vein ore was 12.81, which indicates that the ore is of medium grindability. Bond's Work Index was established by Resource Development Inc. located in Wheat Ridge, Colorado.
President and Chief Executive Officer Tim Hunt, states; 'Flotation test results for our La Josefina Ailin ore are in the range anticipated beforehand, and applied in internal financial modeling show that the ore can be processed in our recently purchased Martha Mill without significant modifications. Cyanidation recoveries were exceeding our expectations and we are now considering the incorporation of cyanidation into our processing stream. The Martha Mill is only 110km by road from our La Josefina project so Ailin ore can easily be hauled to the mill on public roads.'
The Martha Mill contains a 240 tonne per day ('TPD') flotation plant which includes a crushing circuit. The Martha Mine has additional milling capacity for up to 480 TPD. Additional information including photos of the Martha Mine are available on the Corporation's website at: www.huntmining.com.
Klaus Triebel, Hunt Mining's Director of Project Development, is a Qualified Person under NI 43-101 who has approved the technical aspects of this news release.
About Hunt Mining
Hunt Mining Corp. has continued to develop its properties as an active and aggressive explorer in Santa Cruz since 2006. During that time, 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 Mine, located in the Santa Cruz Province, Argentina.
Additional information on the Martha Mine and other Santa Cruz, Argentina projects can be viewed on the Company website at: www.huntmining.com.
For more information contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
E: [email protected]
Bob Little
Director of Corporate Development
T: (509) 290 5659
E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.