Hunt Gold Corporation - Escalated Drilling & Exploration
NEW YORK, NY, Feb 02, 2009 (M2 PRESSWIRE via COMTEX) -- Hunt Gold Corporation (PINKSHEETS: HGLC.PK) gives a comprehensive update on its 2009 exploration program.
- Nonstop Exploration & Drilling
- Drilling to be expeditious and at best cost
- Regular Announcements of Drilling Results
- Regular Announcements of Assay Results
- Continual expansion of the Company Gold Resources
- Work on substantial advances towards production
- First Assay Results to be published within two weeks
- New Drilling Contracts being awarded to commence in February 2009
The Company will be continually drilling throughout the year to expand its gold resource and to advance its gold properties toward production. Nonstop exploration is at the heart of Hunt Gold's business model. Drilling will be expeditious and at best cost. Drill targets will continue to be selected in a prudent and geologically sound manner. Announcement of assay results will be regular and periodic as an ongoing part of the business.
The Company is extremely well funded and able to do whatever is necessary to move its projects ahead. This differentiates Hunt Gold Corporation from many other mining companies that have lately encountered funding difficulties. Hunt Gold Corporation has been able to attract top management and exploration talent, and will continue to benefit from a much more competitive environment for service providers to the mining industry.
Exploration will be done during 2009 at all of the Company's Gold properties, primarily at but not limited to "Golden Eagle", "Ambassador", "Venezia", "Starlight" and "American Flag", as well the continued "fast track" exploration taking place at the Company's "Mockingbird" Gold Project.
The Company's fast pace of exploration work at the Mockingbird Gold Project in Arizona is continuing. Project Geologist Ed Huskinson and a geotechnician are completing the splitting and logging of the drill cores from the final two holes of the recent drill campaign. These holes were located at the Dandy Gold Mine. This should be done by close of business today and the samples will be shipped to the independent assay laboratory.
The independent assay lab should complete its work for the first 6 holes at the Great West and Pocahontas Mines by the end of next week. The Company may make a partial announcement for these holes at that time rather than awaiting the results for the final two holes from that first drilling campaign.
In the meantime Hunt Gold Corporation is moving ahead full speed getting ready for the next drill campaign.
The Company is obtaining bids from at least two drilling companies for its next Mockingbird drill campaign, to begin by the end of February. One of the drill companies will be visiting the site early next week. The present intention is to use a track-mounted or rubber tire (buggy) rig capable of reverse circulation (RC) drilling. RC drilling is much more economical on a per foot basis than core drilling and will permit the next drill campaign to dramatically increase the footage drilled. Using such a rig minimizes the need to construct drill roads, thus eliminating environmental disturbance and greatly reducing BLM bonding requirements.
Project Geologist Ed Huskinson will next week initiate a comprehensive reconnaissance sampling program at the Company's "Mockingbird" Gold property. Numerous additional mineralized areas were discovered during the recent drill campaign, and this program will inventory and sample the surface outcrops in a thorough way. During the following two weeks, soil geochemical samples will be taken on a 200 foot grid over priority areas, most notably the 56 recently staked claims in the former Anaconda project area. Geochemical results will be posted onto a map and contoured, thus generating "bulls-eye" targets for the next phase of drilling.
Hunt Gold Corporation's CEO, Mike Saner stated that "Hunt Gold Corporation's exploration program at its "Mockingbird" Gold Project is expanding as we continue to learn new things about this exciting gold property. Exploration will be done in a systematic way in order to maximize "Mockingbird's" potential for Hunt Gold Corporation and its shareholders." He added that "the new policy of nonstop but systematic drilling was expected to significantly add to the Company's Gold Resources and given the return of the Gold Price to a price in excess of US$900/oz; the Company's valuation would continue to escalate rapidly.
Hunt Gold Corporation is committed to strict compliance with any and all environmental requirements. As noted above, it is designing its exploration program to minimize environmental disturbance. The Company is also committed to mine safety. In cooperation with the BLM and the Arizona State Mine Inspector, numerous former shafts, adits and other workings on the Mockingbird Gold property have been safety fenced, and official warning signs have been posted.
AI
