LIBERTY LAKE, Wash., Jan. 17, 2017 (GLOBE NEWSWIRE) -- Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX-V:HMX) is pleased to announce the initiation of production operations at the Martha Project in Santa Cruz Province, Argentina. Machinery at the Martha Mill has been reconditioned and has proven capacity of 240 tonnes per day. The mill is processing an average of 120 tonnes per day and is producing concentrate.
During the last week of December 2016 and first week of January 2017, the mine blasted approximately 800 tonnes of material with an estimated grade of 1.1 g/t Au and 1,100 g/t Ag. Milling started this past week and it is planned to produce concentrate from this material with an Ag grade of over 30,000 grams Ag per tonne. All concentrate produced will be sold through the arrangement with Ocean Partners USA Inc. (“Ocean Partners”), as previously announced on November 29, 2016. This concentrate will be transported by truck to the port prior to February 15, 2017.
Under the terms of the agreement with Ocean Partners, the Corporation will deliver concentrate with a gold range of 30 to 70 grams per dry metric tonne (dmt) and a silver range of 30 to 100 kilograms per dmt to a loading port at Ocean Partner's option for shipment to customers. Concentrate will be shipped in one-tonne bags in standard or heavy-duty 20-foot containers for ocean freight transport. All saleable concentrate will be stored in a secured storage warehouse.
Klaus Triebel, Hunt Mining's Director of Project Development, is the Qualified Person under NI 43-101 who has approved the technical and scientific aspects of this press release. The Corporation is not basing its production decision on a feasibility study of minerals reserves demonstrating economic and technical viability. The Corporation cautions readers that production may not be economically feasible and historically these projects have a much higher risk of economic or technical failure.
Additional information on the Martha Project and other Santa Cruz, Argentina projects can be viewed on the Company website at: www.huntmining.com.
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 property, which includes the Martha Project, also located in the Santa Cruz Province of Argentina.
