LIBERTY LAKE, Wash., April 03, 2019 (GLOBE NEWSWIRE) -- Hunt Mining Corp. (the “ Corporation ” or “ Hunt ”) (TSX VENTURE: “HMX” OTCQB: “HGLD”) announces the filing of the Corporation’s audited 10-K for year-end 2018 on EDGAR in the United States, as well as the MD&A and Financials on SEDAR in Canada, both filed April 1, 2019.
The Corporation recognized a net loss of US$3.56 million in fiscal year 2018 on concentrate net sales of $3,961,399, given the costs associated with the shift from the Martha property to the La Josefina Gold / Silver Project initiated. In 2018, Hunt’s exploration and development team focused on metallurgical tests at the Ailin vein, a well explored part of the La Josefina Project, and one of numerous principal vein structures located on the Estancia La Josefina that the Corporation has owned since 2006. The Corporation has been encouraged by the results of the metallurgical test shipments and the way mineralized material has responded to flotation milling at the Martha mill.
Hunt was pleased with how well the Martha infrastructure functioned in 2018 as a result of the capital improvements made in 2016 and 2017. The effectiveness of these improvements has surpassed management’s original estimates.
In calendar year 2017, Hunt Mining Corp., through its wholly owned subsidiary, Cerro Cazador S.A. (CCSA), sold more than $9.2 million worth of silver-gold concentrate produced at the Martha flotation mill, partially from known remnants that came with the acquisition of the Martha property, yet largely resulting from the discovery of the Martha Oeste vein previously unknown.
Martha - Ongoing activity at the Martha Project is being undertaken without established mineral resources or reserves and the Corporation has not established the economic viability of the operations on the Martha Project. As a result, there is increased uncertainty and economic risk of failure associated with these activities. Hunt filed an updated NI 43-101 Technical Report (“Technical Report”) for the Martha Project, dated October 12, 2018 titled “Martha Silver and Gold Project, Santa Cruz, Argentina”, which is currently available on SEDAR and on the Corporation’s website at:
http://www.huntmining.com/sites/default/files...2Oct18.pdf
Additional information on the Martha Project and other Santa Cruz, Argentina projects can be viewed on the Company website at: www.huntmining.com . To review the Corporation’s 2018 10-K, go to SEC.gov or http://www.huntmining.com/index.php/investors/reports
About Hunt Mining
Hunt Mining Corp. has continued to develop its properties as an active and aggressive explorer in Santa Cruz since 2006. During that time, Hunt's wholly owned subsidiary, Cerro Cazador S.A., has completed exploration activity including 62,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 20,000 surface soil, sediment, channel, chip, and trench samples, beyond the historical work previous to the same properties. Hunt also owns a 100% interest in the Martha Mine, located in the Santa Cruz Province, Argentina.
For more information contact:
Dean Stuart Investor Relations T: (403) 617-7609 E: dean@boardmarker.net
Bob Little Chief Administration Officer T: (509) 290-5659 E: blittle@huntmining.com
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
