SPOKANE, WASHINGTON -- (Marketwire) -- 02/21/13 -- Hunt Mining Corp. (the "Corporation") (TSX VENTURE: HMX) is pleased to announce exploration results from its recently acquired La Valenciana Gold-Silver project located in Santa Cruz Province, Argentina. The La Valenciana gold-silver project is located on the central-north area of the Santa Cruz Province, Argentina and is located 25 km to the west of the Corporation's main Piedra Labrada base camp. The project encompasses an area of 29,600 hectares, and is contiguous to the Joaquin project to the south, the Las Mellizas project to the south-east and the Corporation's La Josefina project to the east. Several historical exploration programs have taken place to date at La Valenciana, with the most recent exploration being conducted by Cerro Cazador S.A. ("CCSA"), the Corporation's 100% owned subsidiary.
"We are very excited to have finally secured the La Valenciana agreement for exploration and development" stated Hunt Mining President Matt Hughes. "A drill-ready project, like La Valenciana, surrounded by other rapidly advancing projects, can only enhance the Corporation's regional foothold and discovery potential. This represents a major development for the Corporation's continued success."
Exploration to date has focused on three main targets at La Valenciana: Veta Principal, La Florentina and Estancia.
Veta Principal
Veta Principal represents a large, precious metal bearing, epithermal vein system with a strike length of at least 2,000 meters. The vein trends generally north-south and ranges in width from 0.5 to 3.0 meters, swelling locally to a width of 10 meters. The host rock consists of Jurassic age crystal tuffs. Mineralization occurs in episodically banded quartz veins and hydrothermal breccias associated with small amounts of iron, copper and lead sulfide minerals. Several locations along this vein system were historically explored with ten shallow drill holes averaging less than 65 m in length and 53 trenches averaging 23 m in length. Results of this work were inconclusive. CCSA collected 217 total samples from trenches and other outcrops along a 1000 meter segment of the Veta Principal trend. A total of 165 channel samples were collected from 11 of the historical trenches. Channels 3 to 4 cm wide and deep and up to 21 m long were sawed along the walls of the trenches and sampled over continuous intervals of 0.4 to 1.9 m in length. The weighted average gold content of all samples was 0.88 g/t Au, with 22 percent of the samples containing at least 1.0 g/t up to 11.58 g/t Au. Significant mineralization encountered in this sampling is summarized in the following table:
Veta Principal Trench Sampling Length From To Width Width Gold SilverTrench (m) (m) (m) (m) (ft) (g/t) (g/t)--------------------------------------------------------------------------------------------------------------------------------------------------------SVP-T09-001 15.55 0.80 3.75 2.95 9.68 3.89 5----------------------------------------------------------------------------SVP-T09-002 13.60 0.00 4.10 4.10 13.45 5.36 16 -------- -------- -------- including: 1.00 3.28 10.84 14----------------------------------------------------------------------------SVP-T09-003 15.56 0.00 1.00 1.00 3.28 1.02 1 -------- -------- -------- 9.31 9.71 0.40 1.31 2.14 1----------------------------------------------------------------------------SVP-T09-004 11.05 6.80 8.80 2.00 6.56 0.90 1----------------------------------------------------------------------------SVP-T09-005 9.70 0.00 8.80 8.80 28.87 3.52 4 -------- -------- -------- including: 1.00 3.28 8.05 13----------------------------------------------------------------------------SVP-T09-006 20.70 20.00 20.70 0.70 2.30 1.01 2----------------------------------------------------------------------------SVP-T09-007 16.57 0.90 2.50 1.60 5.25 3.80 5 -------- -------- -------- 4.90 7.00 2.10 6.89 3.52 4----------------------------------------------------------------------------SVP-T09-008 23.78 3.50 4.50 1.00 3.28 1.11 2----------------------------------------------------------------------------SVP-T09-009 13.75 0.00 2.85 2.85 9.35 1.56 56 -------- -------- -------- 10.85 12.45 1.60 5.25 1.14 10---------------------------------------------------------------------------- no mineralization greater thanSVP-T09-010 4.00 0.5 g/t Au----------------------------------------------------------------------------SVP-T09-011 8.80 1.10 3.20 2.10 6.89 0.67 10--------------------------------------------------------------------------------------------------------------------------------------------------------
