Today before the opening bell, Hunt Gold provided investors with a comprehensive update on its 2009 exploration program. The company plans to continue drilling operations throughout the year to expand its gold resource and advance its gold properties towards production. According the press release, announcement of assay results will be regular and periodic as an ongoing part of business.
The company emphasized that it is extremely well funded and has the capability to do whatever is necessary to move its projects ahead. This is in sharp contrast to other mining companies that often encounter funding difficulties. Hunt Gold intends to conduct exploration on all of its gold properties during 2009, 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 ongoing. 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. They are anticipated to finish their work by the end of the day and the samples will be shipped to the independent assay laboratory.
The Company is currently obtaining bids from at least two drilling companies for its next Mockingbird drill campaign, which is planned to begin by the end of February. One of the drill companies will be visiting the site next week. The present intent 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, eliminating environmental disturbance and greatly reducing BLM bonding requirements.
Next week, Project Geologist Ed Huskinson will commence a comprehensive reconnaissance sampling program at Hunt Gold’s “Mockingbird” Gold property. Many additional mineralized areas were discovered during the recent drill campaign, and this program will inventory and sample the surface outcrops in a meticulous manner. 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 to pinpoint “bulls-eye” targets for the next phase of drilling.
Hunt Gold Corporation’s CEO, Mike Saner stated, “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, “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.”
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