New ETF Book by Larry Connors - Click here to read more
The Company currently has two crews staking additional claims and has added 320 acres to the "Mockingbird" Gold Project since last week, bringing the current land position to approximately 4,800 acres for that portion of the Company's Mining Interests. This will be increased to 5,600 acres for the Company's "Mockingbird" Gold Project within days.
The Company is particularly pleased to announce that the latest acreage includes the "Gold Hill" property, located 6 miles south of the Company's "Mockingbird" Gold Mine and 4 miles south of the Company's "Dandy" Gold Mine. "Gold Hill" has pervasive surface copper mineralization over a northwest trending ridge on a strike exceeding 1,000 feet. Copper has historically been a pathfinder element at the Company's "Mockingbird" Gold Project, as anomalous gold is frequently found where there is anomalous copper.
The Company should have the remaining 800 acres staked, connecting the recently acquired "Gold Hill" to the Company's existing "Mockingbird" Gold Project claim block, by the end of this week.
Hunt Gold Corporation also has a crew completing the control grid over the property, preparatory to initiating the Phase II drill campaign.
Bids to perform the Phase II drill program have been received and the Company narrowed these down to two drilling companies. These bids are being evaluated using a process that derives the lowest cost per foot after all potential charges are factored in. This cost, coupled with the availability, experience, and capability of each company, will be used in the selection process.
The Notice of Intent for the Phase II Drilling should be filed with the Bureau of Land Management (BLM) on Friday, March 6, 2009.
Geochemical sampling of previous workings, trenches, and zones of alteration and mineralization is ongoing. It is anticipated that another batch of samples will be shipped to Skyline Laboratories in Tucson, Arizona, early next week.
An archaeological survey over the area in the immediate vicinity of the Mockingbird Mine itself is in progress, as required by the State of Arizona, with fieldwork by the Company's archaeological consultants to begin next Monday. The requisite paperwork for the project has been filed with the appropriate State of Arizona agencies.
Drilling will commence shortly after the bid is awarded. The rig will generally collar in upper plate rocks and continue until the lower plate basement rocks are encountered. The contact between the plates, a low-angle to sub-horizontal normal fault (also called a detachment fault), is the target zone. Gold ore zones are constrained by various tectonic forces, resulting in pinched barren zones with ore zones (troughs) on each side. Once the spacing between zones has been determined, exploration will concentrate on those zones, dictated by the regional stress regime. The troughs will be perpendicular to this, and so will probably trend northeast.
The Company remains greatly encouraged by the success of the Phase I drilling, which found gold mineralization in each drill hole and found commercially interesting intercepts in 3 of 8 holes at the Company's "Great West" and "Dandy" Gold Mines, including one high grade interval at the Company's "Dandy" Gold Mine exceeding .1 ounces of gold per ton. Follow-on drilling at these gold mines will be included in the Phase II drilling.
The company looks forward to developing larger, bulk-tonnage gold targets in the areas targeted in the past by Anaconda and Chevron, and in those areas indicated by the company's rock chip geochemistry programme. These will be the major targets for the Phase II drilling.
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," "Williamson," "Blue Copper Mine," "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. The Company has disposed of its "Lookout" Silver Projects and will be retaining an amount of US$65 million in quoted stock from that disposal.
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 company's annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
For further information contact: MDM Worldwide Solutions, Inc. (Investor Relations Enquiries) Contact: Richard Hausig E Mail: Email Contact Telephone: (646) 961-4458 Hunt Gold Corporation (Corporate Enquiries) Contact: Mr. Michael G Saner E Mail: Email Contact Telephone: (954) 840-6956
SOURCE: Hunt Gold Corporation
http://www2.marketwire.com/mw/emailprcntct?id=3341EB02FB6BE428 http://www2.marketwire.com/mw/emailprcntct?id=BD4C18D971DA209F
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
