Hunt Gold Corporation -- Encouraging Drilling Results
14 Gennaio 2009 - 4:03PM
Marketwired
Hunt Gold Corporation (PINKSHEETS: HGLC) confirms that it has
completed its 7th drill hole for its current drill campaign at the
"Mockingbird" Gold project in Arizona.
The hole intersected a broad shear zone from 115 feet to 147
feet. The zone included multiple zones of hydrothermal alteration
brecciation cemented with sulfide-clouded quartz. The hole was
terminated at 150 feet.
The company is so encouraged with these results that it is
changing the azimuth for the 8th and final hole for the current
drill campaign. The 8th hole will now have an azimuth of 180
degrees (due south) and will be aimed directly under the historic
workings of the Dandy Gold Mine. The eighth hole was begun
yesterday, and is scheduled for completion during the evening of
Wednesday, January 14, 2009.
The Company also responded to a shareholder question about why
it is making a substantial investment in gold properties that were
previously owned by major mining companies, but which did not bring
them to production. Hunt Gold believes that shareholder value is
enhanced when it is able to build on the efforts of major mining
companies, rather than only pursuing virgin or grass roots
projects.
The company considers past exploration and mining history prior
to acquiring its properties and has been strongly encouraged by the
findings. In the case of the Mockingbird Gold property, it was
previously owned by Anaconda. Anaconda's geochemical work found
anomalous gold throughout 2 square miles, and the company viewed
the property as having a potential resource of 1,000,000+ ounces
gold. The project was not terminated by Anaconda based on lack of
merit. Rather, Anaconda's corporate parent, oil giant ARCO, shut
down Anaconda (the whole company!) for a variety of unrelated
reasons, most notably environmental liabilities at its Butte,
Montana copper mine. Hunt Gold has obtained the available Anaconda
exploration reports and other materials on the Mockingbird, which
do not include any drill records, leading the company to conclude
that Anaconda was closed before any drilling could be done.
Hunt Gold's Ambassador project, similarly, was previously owned
by UNC, the gold subsidiary of United Nuclear Corporation. The
preliminary work done by UNC indicated a potential resource of
1,000,000+ ounces gold, and a multi-year phased exploration effort
was planned for Ambassador. However, United Nuclear decided to
refocus its efforts on uranium, and all of its gold projects were
jettisoned.
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 companies' 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
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