HuntMountain Resources (OTCBB:HNTM) (Frankfurt:MPT) announced additional high-grade assays from its ongoing diamond core drilling program at the La Josefina gold-silver project in Santa Cruz Province, Argentina. Drilling at the “Veta Sur” target has identified an extension of the mineralized zone which remains open at depth and along strike to the south. Substantial copper, lead, and zinc values have been returned as well, representing a new base metal oreshoot previously unrecognized by historical drilling. Significant assays include:
| Gold | ||||||||||||||||||
| HOLE | From | To | Interval | Gold | Silver | Equiv.(a) | Cu | Pb | Zn | |||||||||
| # | (m) | (m) | (m) | g/t | g/t | g/t | % | % | % | |||||||||
| SVN-D08-132 | 70.0 | 81.0 | 11.0 | 2.66 | 221.24 | 6.59 | 2.10 | 2.18 | 0.18 | |||||||||
| including | 70.0 | 75.0 | 5.0 | 3.17 | 385.41 | 10.02 | 3.48 | 2.08 | 0.13 | |||||||||
| including | 76.0 | 77.0 | 1.0 | 8.56 | 284.50 | 13.61 | 4.69 | 4.37 | 0.34 | |||||||||
| SVN-D08-127 | 125.1 | 127.2 | 2.1 | 3.25 | 184.97 | 6.54 | 7.16 | 0.17 | 0.08 | |||||||||
| and | 128.8 | 129.7 | 0.9 | 1.43 | 106.22 | 3.32 | 1.99 | 0.81 | 0.17 | |||||||||
“These latest assays from the Veta Sur target are highly encouraging and illustrate the opportunities for increasing shareholder value through base metal potential,” said Matt Hughes, Executive Vice President and COO. “Veta Sur is the southernmost vein system identified within the broader Veta Norte zone which includes the high-grade Veta Amanda system. The latest results show increasing continuity of precious metal mineralization and outstanding levels of copper and lead occurrences within the high-grade gold-silver intercepts. HuntMountain’s earlier drilling at Veta Sur also returned significant base metal grades, and a full analysis of base metal potential at La Josefina is currently underway.”
HuntMountain has drilled over 20,000 meters, including 122 holes across the Veta Norte, Sinter, and Central zones at La Josefina since November 2007. A complete table of drill results can be obtained at www.huntmountain.com on the La Josefina project page and within the NI 43-101 Technical Report.
Certified sample preparation, gold and silver fire assay, and 28 element ICP analysis were carried out by ALS Chemex in Mendoza, Argentina and La Serena, Chile.
All current and previously released drill results from the Veta Sur target greater than 1 g/t gold or greater than 1% copper, lead, or zinc are included in the table below:
| From | To | Interval | Au | Ag | ||||||||||||
| HOLE NUMBER | (m) | (m) | (m) | g/t | g/t | Cu % | Pb % | Zn % | ||||||||
| VETA SUR | ||||||||||||||||
| SVN-D07-004 | 23.15 | 24 | 0.85 | 8.22 | 2.3 | 0.006 | 0.168 | 0.038 | ||||||||
| 24 | 26 | 2.00 | 1.14 | 0.8 | 0.004 | 0.121 | 0.028 | |||||||||
| 30 | 31 | 1.00 | 2.12 | 2.2 | 0.005 | 0.301 | 0.018 | |||||||||
| 41 | 41.77 | 0.77 | 2.81 | 129 | 0.123 | 0.374 | 0.135 | |||||||||
| 41.77 | 42.65 | 0.88 | 19.9 | 2100 | 0.413 | 0.646 | 0.138 | |||||||||
| 42.65 | 43.3 | 0.65 | 16.55 | 537 | 0.627 | 0.147 | 0.111 | |||||||||
| 62.5 | 63 | 0.5 | 0.106 | 12.1 | 0.032 | 1.000 | 0.132 | |||||||||
| 74.5 | 75 | 0.50 | 0.492 | 33.5 | 0.021 | 4.830 | 0.078 | |||||||||
| 75 | 76 | 1 | 0.132 | 7.5 | 0.030 | 1.180 | 0.151 | |||||||||
| 111 | 111.75 | 0.75 | 0.113 | 4.1 | 0.018 | 0.708 | 2.310 | |||||||||
| 138 | 140 | 2 | 0.114 | 10.6 | 0.060 | 1.190 | 1.390 | |||||||||
| SVN-D07-005 | 62 | 62.7 | 0.70 | 3.08 | 15.8 | 0.019 | 0.464 | 0.101 | ||||||||
| 99.8 | 100.3 | 0.5 | 0.184 | 22.9 | 0.066 | 0.819 | 1.450 | |||||||||
| 100.3 | 101.15 | 0.85 | 8.36 | 16.3 | 0.034 | 0.995 | 0.313 | |||||||||
| 101.15 | 101.7 | 0.55 | 0.11 | 6.8 | 0.022 | 1.080 | 0.542 | |||||||||
| 101.7 | 102.2 | 0.50 | 0.993 | 16.7 | 0.250 | 1.730 | 0.046 | |||||||||
| 102.2 | 102.7 | 0.50 | 3.75 | 52.8 | 0.209 | 5.420 | 0.921 | |||||||||
| 103.2 | 103.7 | 0.5 | 0.443 | 9.6 | 0.101 | 1.320 | 0.590 | |||||||||
| 107 | 109 | 2 | 0.146 | 20.7 | 0.021 | 1.540 | 0.542 | |||||||||
| SVN-D07-006 | 6 | 6.5 | 0.50 | 2.45 | 29.8 | 0.048 | 0.125 | 0.097 | ||||||||
| 6.5 | 7 | 0.50 | 2.5 | 130 | 0.137 | 0.677 | 0.201 | |||||||||
| 9 | 9.5 | 0.50 | 2.8 | 84.8 | 0.091 | 0.347 | 0.082 | |||||||||
| 32 | 32.5 | 0.50 | 1.83 | 54.9 | 0.026 | 0.197 | 0.084 | |||||||||
| 32.5 | 33 | 0.50 | 1.69 | 29.8 | 0.020 | 0.187 | 0.100 | |||||||||
| SVN-D07-007 | 33.9 | 34.75 | 0.85 | 1.375 | 4 | 0.027 | 0.262 | 0.034 | ||||||||
| 99.7 | 100.3 | 0.60 | 4 | 157 | 2.650 | 0.637 | 0.297 | |||||||||
| 100.3 | 100.85 | 0.55 | 2.03 | 70.8 | 0.185 | 0.324 | 0.179 | |||||||||
| SVN-D07-013 | 2 | 3.75 | 1.75 | 0.445 | 1.2 | 0.011 | 1.650 | 0.059 | ||||||||
| 78.6 | 79.1 | 0.50 | 0.188 | 42.7 | 0.128 | 6.150 | 4.430 | |||||||||
| 109.75 | 110.25 | 0.50 | 0.104 | 72.9 | 0.048 | 6.780 | 1.360 | |||||||||
| SVN-D08-048 | 96 | 96.4 | 0.40 | 0.125 | 61.4 | 0.068 | 4.130 | 0.253 | ||||||||
| 97.4 | 97.9 | 0.50 | 0.256 | 139 | 0.123 | 7.070 | 0.424 | |||||||||
| 100.9 | 101.35 | 0.45 | 0.241 | 218 | 2.500 | 12.450 | 0.111 | |||||||||
| 101.35 | 101.9 | 0.55 | 1.12 | 623 | 0.150 | 30.000 | 0.363 | |||||||||
| 101.9 | 103 | 1.10 | 0.227 | 22.7 | 0.030 | 1.710 | 0.182 | |||||||||
| 104 | 104.65 | 0.65 | 6.5 | 1825 | 2.430 | 19.600 | 0.067 | |||||||||
| 106 | 107 | 1.00 | 1.045 | 23.6 | 0.057 | 0.489 | 0.132 | |||||||||
| SVN-D08-049 | 27.3 | 27.85 | 0.55 | 2.15 | 76.2 | 0.096 | 0.746 | 0.114 | ||||||||
| SVN-D08-050 | 65.8 | 66.95 | 1.15 | 1.455 | 5.1 | 0.094 | 0.073 | 0.075 | ||||||||
| SVN-D08-051 | 78.3 | 78.7 | 0.4 | 1.225 | 2.2 | 0.010 | 0.237 | 0.115 | ||||||||
| 81 | 81.6 | 0.6 | 1.22 | 2.1 | 0.008 | 0.315 | 0.391 | |||||||||
| 85.5 | 86.15 | 0.65 | 1.14 | 2.9 | 0.014 | 0.187 | 0.169 | |||||||||
| 148 | 148.8 | 0.8 | 1.62 | 221 | 0.224 | 10.100 | 0.116 | |||||||||
| SVN-D08-127 | 125.1 | 125.65 | 0.55 | 1.015 | 10.2 | 0.126 | 0.142 | 0.071 | ||||||||
| 125.65 | 126.07 | 0.42 | 5.75 | 185 | 5.08 | 0.132 | 0.045 | |||||||||
| 126.07 | 126.4 | 0.33 | 2.63 | 224 | 10.15 | 0.043 | 0.049 | |||||||||
| 126.4 | 126.8 | 0.40 | 2.88 | 349 | 19.75 | 0.089 | 0.058 | |||||||||
| 126.8 | 127.2 | 0.40 | 4.57 | 229 | 3.98 | 0.417 | 0.152 | |||||||||
| 128.8 | 129.2 | 0.40 | 1.215 | 142 | 2.37 | 0.741 | 0.220 | |||||||||
| 129.2 | 129.7 | 0.50 | 1.605 | 78 | 1.68 | 0.87 | 0.136 | |||||||||
| SVN-D08-132 | 70 | 70.5 | 0.50 | 1.07 | 17.6 | 0.255 | 0.702 | 0.193 | ||||||||
| 70.5 | 71 | 0.50 | 4 | 249 | 2.68 | 0.921 | 0.342 | |||||||||
| 71 | 71.5 | 0.50 | 7.8 | 682 | 3.08 | 7.49 | 0.048 | |||||||||
| 71.5 | 72 | 0.50 | 3.36 | 794 | 8.63 | 1.34 | 0.070 | |||||||||
| 72 | 72.5 | 0.50 | 0.801 | 60.7 | 0.347 | 1.29 | 0.156 | |||||||||
| 72.5 | 73 | 0.50 | 2.54 | 87.9 | 0.705 | 1.52 | 0.193 | |||||||||
| 73 | 73.5 | 0.50 | 1.11 | 69.9 | 0.592 | 1.21 | 0.084 | |||||||||
| 73.5 | 74 | 0.50 | 4.63 | 764 | 9.88 | 0.397 | 0.034 | |||||||||
| 74 | 74.5 | 0.50 | 4.72 | 525 | 6.61 | 1.98 | 0.039 | |||||||||
| 74.5 | 75 | 0.50 | 1.65 | 604 | 2.07 | 3.94 | 0.131 | |||||||||
| 75 | 75.5 | 0.50 | 0.611 | 18.4 | 0.651 | 3.15 | 0.115 | |||||||||
| 75.5 | 76 | 0.50 | 0.906 | 16 | 0.152 | 1.51 | 0.197 | |||||||||
| 76 | 76.5 | 0.50 | 6.46 | 254 | 4.8 | 4.9 | 0.354 | |||||||||
| 76.5 | 77 | 0.50 | 10.65 | 315 | 4.58 | 3.83 | 0.325 | |||||||||
| 77 | 77.5 | 0.50 | 0.778 | 31.8 | 0.175 | 0.944 | 0.200 | |||||||||
| 77.5 | 78 | 0.50 | 0.657 | 20.9 | 0.194 | 1.26 | 0.290 | |||||||||
| 78 | 78.5 | 0.50 | 0.636 | 22.6 | 0.132 | 2.15 | 0.213 | |||||||||
| 78.5 | 79 | 0.50 | 3.69 | 252 | 0.126 | 5.4 | 0.181 | |||||||||
| 79 | 80 | 1.00 | 0.567 | 35.9 | 0.229 | 1.37 | 0.132 | |||||||||
| 80 | 81 | 1.00 | 0.657 | 5.3 | 0.049 | 0.645 | 0.256 | |||||||||
(a)Gold equivalent grade was calculated by dividing the silver assay result by 52.6 and adding it to the gold value. Gold and silver values reflect prices on 8/8/2008. Troy ounces/short ton was calculated by dividing grams by 34.29 and rounding to 2 decimal places. Interval calculations are based on a weighted average using a 1.00 g/t cutoff value. | ||||||||||||||||
HuntMountain Resources is a U.S.-based junior exploration company engaged in acquiring, exploring and developing precious and base metals properties throughout North and South America. The Company currently controls and operates projects in Santa Cruz, Argentina; Chihuahua, Mexico; Nevada, USA; and Quebec, Canada.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not even be anticipated. This news release is neither a prospectus nor an offer to sell securities or stocks in the company. It is intended for informational purposes only.
Contacts:
Vice President of Corporate Development
Steve
Taylor, 509-892-5287
staylor@huntmountain.com
www.huntmountain.com
