July 30 , 2007
Press Release 07-06
HuntMountain Discovers Gold Mineralization at its El Gateado Property
(Spokane, WA) HuntMountain Resources (OTCBB:HNTM)(Frankfurt:MPT) is very pleased to announce
that its Argentine subsidiary, Cerro Cazador S.A., in its first ever drilling campaign, has discovered
significant gold mineralization at its 100%-owned El Gateado property in Argentina. El Gateado is located
adjacent to the La Josefina gold and silver project recently optioned to Cerro Cazador and is one of four
properties in the Santa Cruz province that the company has staked within the last 18 months. The HQ
diamond core drilling program took place in late 2006 and early 2007, but the assay results were just
recently finalized due to some logistical complications.
The first hole drilled at El Gateado, GAT-DDH06 001, intersected strongly anomalous gold throughout its
entire 150-meter depth, highlighted by an intercept of 11.3 meters averaging 3.65 grams of gold per tonne
(g/t), including an interval of 8.2 meters assaying 4.50 g/t gold. Individual results within that section
include 0.85 meters of 11.7 g/t gold and 0.60 meters of 8.24 g/t gold. The epithermal-breccia style
mineralized zone cut in this hole is open in all directions and is located several hundred meters from the
next nearest drill hole which was placed to test a completely separate structural target. Follow up drilling
is planned for this fall to determine the geometry and continuity of the mineralization, as well as to
investigate additional drill targets on the property.
A total of thirteen holes targeting no less than six separate zones of structurally controlled mineralization
within a four square kilometer area were drilled during the 2006/2007 exploration season at El Gateado.
Significant results are as follows:
| El Gateado Drill Results |
| |
| Hole ID |
From (meters |
To (meters) |
Gold (g/t) |
| |
| GAT-DDH06-001 |
137.7 |
138.7 |
2.39 |
| 138.7 |
139.2 |
0.68 |
| 139.2 |
139.7 |
3.03 |
| 139.7 |
140.2 |
3.76 |
| 140.2 |
140.8 |
8.24 |
| 140.8 |
141.4 |
2.52 |
| 141.4 |
142.0 |
3.92 |
| 142.0 |
142.5 |
0.88 |
| 142.5 |
143.2 |
6.50 |
| 143.2 |
144.0 |
2.92 |
| 144.0 |
145.0 |
4.78 |
| 145.0 |
145.8 |
3.82 |
| 145.8 |
146.6 |
1.89 |
| 146.6 |
147.4 |
11.70 |
| 147.4 |
148.2 |
0.74 |
| 148.2 |
149.0 |
0.60 |
| |
| GAT-DDH06-002 |
No Significant Results |
| |
| GAT-DDH06-003 |
36.74 |
37.50 |
1.30 |
| |
| GAT-DDH06-004 |
16.0 |
17.0 |
1.01 |
| 67.0 |
68.0 |
1.07 |
| |
| GAT-DDH06-005 |
No Significant Results |
| |
| GAT-DDH06-006 |
21.0 |
22.5 |
3.64 |
| |
| GAT-DDH07-007 |
32.0 |
32.6 |
1.07 |
| 33.0 |
33.5 |
2.61 |
| |
| GAT-DDH07-008 |
55.4 |
55.9 |
1.77 |
| 57.2 |
58.0 |
1.34 |
| 58.6 |
59.5 |
2.33 |
| |
| GAT-DDH07-009 |
No Significant Results |
| |
| GAT-DDH07-010 |
No Significant Results |
| |
| GAT-DDH07-011 |
No Significant Results |
| |
| GAT-DDH07-012 |
9.0 |
9.5 |
1.32 |
| 35.0 |
36.0 |
1.08 |
| |
| GAT-DDH07-013 |
10.0 |
11.0 |
1.29 |
“These results are very encouraging given that they were our first exploration holes drilled in properties
that we’ve staked in Santa Cruz,” explained Matt Hughes, VP of Exploration. “This new discovery at El
Gateado, combined with the existing discoveries on our contiguous La Josefina property, truly gives our
company one of the premier exploration packages in Santa Cruz. We look forward to continuing our
exploration drilling on these properties when the Argentine winter is over, and we are confident that we
can begin building one or more viable resources in the upcoming season.”
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. 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.
CONTACT:
Randal L. Hardy, President
HuntMountain Resources
(509) 892-5287
(509) 892-5318 Fax
rhardy@huntmountain.com
www.huntmountain.com |
