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HuntMountain La Josefina Drilling
Forges Through Winter Season Based on Strong
Gold and Silver Results
(SPOKANE, WA) HuntMountain Resources (OTCBB: HNTM) is
pleased to report new assay results from the Company�s ongoing diamond
core drilling program at the La Josefina gold-silver project in Santa
Cruz province Argentina. Results
include 0.65
meters (2.13 feet) at a
gold equivalent grade* of 41.20 grams/ton (1.32 ounces/ton)
consisting of 6.5 grams/ton gold (0.21 ounces/ton) and 1,825 grams/ton
silver (58.68 ounces/ton) from a depth of 104 meters (341 feet).
Cerro Cazador S.A., The Company�s wholly owned Argentine
subsidiary, commenced drilling at La Josefina late in
2007. To date, 102 HQ diamond core holes have been completed for more
than 15,000
meters. Drilling has been conducted on ten
targets previously identified as precious-metal bearing, and the
program will continue throughout the Argentine winter season in
anticipation of a resource calculation scheduled for early fall. The
current target areas consist of prominent epithermal fissure-vein
systems, exhibiting multiple braided veins, veinlets and fault breccias
exposed over a cumulative strike length of 4.5 kilometers.
Individual mineralized structures range from less than 0.5 meters to
greater than three meters in width. Significant assays for the most
recently finalized core-holes completed in the �Veta Norte� target area
are as follows:
|
HOLE
|
From
|
To
|
Interval
|
Gold
|
Silver
|
Gold Equiv.*
|
|
#
|
(m)
|
(m)
|
(m)
|
g/t
|
g/t
|
g/t
|
|
SVN-D08-048
|
101.35
|
104.65
|
3.30
|
1.54
|
470.87
|
10.49
|
|
including
|
104.0
|
104.65
|
0.65
|
6.50
|
1825.00
|
41.20
|
|
SVN-D08-018
|
83.16
|
84.55
|
1.39
|
3.41
|
389.23
|
10.99
|
|
including
|
83.16
|
83.88
|
0.72
|
3.48
|
583.0
|
14.56
|
|
SVN-D07-009
|
102.2
|
103.12
|
0.92
|
9.08
|
5.17
|
9.18
|
|
including
|
102.2
|
102.62
|
0.42
|
12.25
|
6.20
|
12.37
|
|
SVN-D07-005
|
100.3
|
101.15
|
0.85
|
8.36
|
16.30
|
8.67
|
�The latest assay results are highly encouraging, and we have
accelerated our exploration program to continue drilling through the
winter,� said Matt Hughes, HuntMountain Executive Vice President &
COO. �We now have two core drill rigs operating twenty-four hours
a day with one tasked for general exploration and the other on resource
definition. Exploration is running at full speed and will lead to
a steady stream of assay results through the season. Our goal is
to delineate a resource before year end and enter the pre-feasibility
stage eighteen months ahead of schedule. HuntMountain�s
commitment to La
Josefina is rock solid.�
Drilling is producing approximately 3,000 meters
of core per month, or 100 meters per day. Out of over
110 holes, 95 have been logged and 74 have been split, sampled, and
shipped for assay. The Company anticipates receiving and
releasing a considerable amount of additional assay results in the
coming weeks. The La
Josefina camp has been significantly upgraded to
provide adequate cold weather shelter for the equipment and crew.
Core processing facilities have been improved in addition to the
dormitory, kitchen and restroom facilities that support over 40 workers
on site.
Certified sample preparation, gold and silver fire assay, and 28
element ICP analysis was carried out by ALS Chemex in Mendoza,
Argentina and La Serena,
Chile. See Press Release 08-03 and Press Release 08-06 at www.huntmountain.com for earlier reported assay results.
The La
Josefina gold-silver property is an advanced stage
exploration project consisting of a 528 square-kilometer area located
near the center of the Deseado Massif region of Patagonia in northern
Santa Cruz province, Argentina. The property encompasses a zone of
epithermal alteration and mineralization one to three kilometers wide
and more than ten kilometers in length. Within this area, more than 15 kilometers
of precious-metal bearing veins have been identified. The Deseado
Massif encompasses an emerging epithermal mineral province with
abundant precious metal occurrences. The region currently hosts three
producing mines, several deposits being readied for production, and a
growing number of additional projects in advanced stages of
exploration.
A complete table of all assays over 1 g/t is included below:
|
HOLE NUMBER
|
From (m)
|
To (m)
|
Interval (m)
|
Au g/t
|
Ag g/t
|
|
|
|
|
|
|
|
|
VETA NORTE AREA
|
|
|
|
|
|
|
SVN-D07-005
|
62.00
|
62.7
|
0.70
|
3.08
|
15.8
|
|
|
100.30
|
101.15
|
0.85
|
8.36
|
16.3
|
|
|
102.2
|
102.7
|
0.50
|
3.75
|
52.8
|
|
|
|
|
|
|
|
|
SVN-D07-006
|
9.00
|
9.50
|
0.50
|
2.8
|
84.8
|
|
|
|
|
|
|
|
|
SVN-D07-007
|
33.90
|
34.75
|
0.85
|
1.375
|
4.00
|
|
|
|
|
|
|
|
|
SVN-D07-009
|
102.20
|
102.62
|
0.42
|
12.25
|
6.20
|
|
|
102.62
|
103.12
|
0.50
|
6.42
|
4.30
|
|
|
|
|
|
|
|
|
SVN-D08-017
|
62.50
|
63.00
|
0.50
|
1.67
|
32.40
|
|
|
|
|
|
|
|
|
SVN-D08-018
|
83.16
|
83.88
|
0.72
|
3.48
|
583.00
|
|
|
83.88
|
84.55
|
0.67
|
3.33
|
181.00
|
|
|
|
|
|
|
|
|
SVN-D08-048
|
101.35
|
101.90
|
0.55
|
1.12
|
623.00
|
|
|
101.90
|
103.00
|
1.10
|
0.227
|
22.70
|
|
|
104.00
|
104.65
|
0.65
|
6.50
|
1825.00
|
|
|
106.00
|
107.00
|
1.00
|
1.045
|
23.60
|
|
|
|
|
|
|
|
|
SVN-D08-049
|
27.30
|
27.85
|
0.55
|
2.15
|
76.20
|
|
|
|
|
|
|
|
|
SVN-D08-050
|
65.80
|
66.95
|
1.15
|
1.455
|
5.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CENTRAL AREA
|
|
|
|
|
|
|
SC-D08-015
|
41.75
|
42.25
|
0.50
|
2.51
|
12.40
|
|
|
42.25
|
42.77
|
0.52
|
2.10
|
22.70
|
|
|
|
|
|
|
|
|
SC-D08-028
|
23.78
|
24.60
|
0.82
|
6.28
|
3.50
|
|
|
86.60
|
87.26
|
0.66
|
1.195
|
3.40
|
|
|
87.20
|
87.60
|
0.40
|
1.195
|
3.30
|
|
|
87.60
|
88.30
|
0.70
|
1.395
|
10.00
|
|
|
88.30
|
88.80
|
0.50
|
1.60
|
8.90
|
|
|
|
|
|
|
|
|
SC-D08-030
|
63.42
|
64.00
|
0.58
|
2.51
|
6.80
|
|
|
64.00
|
64.91
|
0.91
|
6.75
|
3.80
|
|
|
64.91
|
65.35
|
0.44
|
4.00
|
4.70
|
|
|
|
|
|
|
|
|
SC-D08-036
|
41.00
|
41.60
|
0.60
|
3.32
|
16.00
|
|
|
|
|
|
|
|
|
SC-D08-042
|
94.00
|
94.40
|
0.40
|
1.195
|
3.40
|
|
|
94.40
|
94.85
|
0.45
|
1.35
|
4.70
|
|
|
94.85
|
95.25
|
0.40
|
1.40
|
8.80
|
*Gold equivalent
grade was calculated by dividing the silver assay result by 52.6 and
adding it to the gold value. Gold and silver values reflect prices
on 6/13/2008. Troy ounces/metric ton was calculated by
dividing grams by 31.1 and rounding to 2 decimal places. Interval
calculations are based on a weighted average using a 1.00 g/t cutoff
value.
HuntMountain
Resources is a U.S.-based junior
exploration company engaged in acquiring, exploring and developing
precious and base metals properties throughout North and South America.
The Company currently controls and operates projects in Santa Cruz
Argentina, Nevada USA, Quebec Canada.
This news release may
contain forward-looking statements within the meaning of Section 27A of
the Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties, many of
which cannot be predicted with accuracy, and some of which might not
even be anticipated. This news release is neither a prospectus nor an
offer to sell securities or stocks in the company. It is intended for
informational purposes only.
FOR FURTHER INFORMATION PLEASE CONTACT:
Steve Taylor, Vice President of Corporate Development
HuntMountain Resources
(509) 892-5287 phone (509) 893-5318 fax
staylor@huntmountain.com
www.huntmountain.com
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