| From: TheSlowLane | 3/4/2011 6:23:29 AM | | | | | | Initial Results from La Josefina Drilling Confirm Additional High Grade Gold
Liberty Lake, Washington, March 3rd, 2011 – Hunt Mining Corp. (the “Corporation”)
(TSX VENTURE: HMX) is pleased to announce results for the first six holes of the
ongoing diamond drilling program at the La Josefina Project in Santa Cruz province,
Argentina.
Drilling was initiated at Veta Ailin located in the “Central Zone” of La Josefina (not
currently represented in the NI 43-101 resource estimations). However, along a 500 meter
strike length at Veta Ailin, several historic drill holes confirmed the presence of high-
grade gold, silver, and base-metal mineralization. Five of the first six holes cut significant
precious and/or base metal mineralization (table 1).
The best interval was from hole SC-D11-248, which contained a true mineralized width
of 5.7 meters grading 26.19 g/t (grams/ton) gold and 41.59 g/t silver, including:
? 0.81 meters of 132.34 g/t gold and 112.20 g/t silver.
? 0.36 meters of 66.41 g/t gold and 245.00 g/t silver.
Hole SC-D11-244 included a true mineralized width of 2.14 meters grading 7.62 g/t gold,
33.04 g/t silver and 3.4% lead, including:
? 0.43 meters of 26.41 g/t gold, 102.60 g/t silver and 5.2% lead and
? 0.38 meters of 9.91 g/t gold, 40.40 g/t silver and 8.1% lead.
The current drill campaign is planned to include 12,000 meters of HQ and NQ diamond
core drilling on the Corporation’s La Josefina and El Gateado projects. The drilling
program has been designed to increase the current resource base at La Josefina by
offsetting historic drill holes that were excluded from the current NI43-101 resource and
drilling step out holes on the five identified ore shoots that remain open to expansion. In
addition, the Corporation will drill test portions of the more than 15 kilometers of
exposed mineralized structures that remain undrilled. At El Gateado, the drilling is
designed to offset and expand mineralization identified during a 2006 drilling campaign
where hole GAT-DDH-001 intersected 11.3 meters (estimated to be true width) of 3.65
g/t gold.
The Corporations management is very pleased with the initial drill results on Veta Ailin and believes that they will significantly assist the expansion and improvement of the current resource base at La Josefina.
huntmining.com |
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| From: TheSlowLane | 3/9/2011 6:32:23 AM | | | | | | Argentex: Second drill rig commences targeted program at Pinguino silver property
VANCOUVER , March 7 /CNW/ - Argentex Mining Corporation (TSXV: ATX) (OTCBB: AGXM) is pleased to announce that a second drill rig has been deployed to its 100% owned Pinguino property in Santa Cruz province, Argentina. The company is ramping up its proposed 17,000-meter drilling program to accommodate the large number of generated targets, with this second rig specifically dedicated to core drilling. To date, approximately 850 meters of HQ core has been completed between the Marta Este and Marta Centro zones as part of the 2010-2011 program.
At the same time, ongoing reverse circulation (RC) drilling at Pinguino project is progressing well, with approximately 5,500 meters completed to date. The 2011 exploration budget for Pinguino is approximately $4 million.
The RC drilling completed has tested the upper part of the oxide horizon within 13 silver-dominant zones including Tranquilo, Marta Este and Marta Norte. An additional target is the contact of oxide-primary mineralization, located approximately 50 meters below surface. Geological modeling suggests a possible zone of secondary silver enrichment at that interface. Excellent potential exists within these targets for expansion and definition of additional silver mineralization.
Complementing the drilling program is an extensive program of trenching to test strategic surface targets. To date, eight silver-gold veins including silver-rich Marta Norte have been trenched for a total of 6,980 meters. The focus of our exploration activities at Pinguino is the expansion of near-surface silver discoveries with our overall goal of defining the extensive mineralized footprint.
Rock samples from RC and diamond drilling together with diamond saw channel samples from trenching have been submitted to Acme Analytical Laboratories for analysis and results are pending.
The exciting new discoveries in 2010 of high-grade silver within the Tranquilo and Luna structures adds to the overall potential of the previously known precious metal mineralization at Pinguino. More than 50 individual veins have been discovered to date at Pinguino, with a combined strike length in excess of 75 line kilometers. Only a small percentage of Pinguino's entire system of veins and known targets has been drill tested to date.
Pinguino Drilling
Argentex is scheduling to drill a total of 17,000 meters using a combination of reverse-circulation drilling (13,500 meters) and diamond drilling (3,500 meters) to expand near-surface oxidized silver-gold mineralization. We have also budgeted for 12,000 meters of trenching in our 2010-2011 exploration program.
About Pinguino
Argentex's Pinguino property is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. Recent high-grade silver discoveries within newly tested structures of the district-scale vein system at Pinguino show potential for the development of a significant silver resource. |
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| To: TheSlowLane who wrote (9) | 3/10/2011 10:13:31 AM | | From: Malyshek | | | | | Wonder why Mirasol is plunging today? Down 16%. I know someone very knowledgeable who helped me get in years ago who has said that it was pretty richly valued for what it had going so far, although he allowed that it still had upside if future drilling results were very good. |
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| To: Malyshek who wrote (10) | 3/10/2011 10:26:14 AM | | From: TheSlowLane | | | | | A lot of the stocks that ran up hard are retreating just as fast or faster now. Not sure that we are in an environment where people are looking at value just now. |
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