Hunt Mining Signs Tailings Agreement With Pan American Silver
20 December 2016 - 11:01PM
Hunt Mining Corp. (the “Corporation” or “Hunt”) (TSX-V:HMX) is
pleased to announce the signing of an agreement (“Tailings
Agreement”) to sell existing Tailings from the Martha Tailings Area
(“Tailings”) from its wholly owned subsidiary, Cerro Cazador S.A.
to Minera Triton Argentina S.A.(“Minera Triton”), a wholly owned
subsidiary of Pan American Silver Corp. (NASDAQ:PAAS) (TSX:PAA) for
further processing and extraction of gold and silver at the Pan
American Silver Corp. premises at Manantial Espejo mill, located in
Santa Cruz Province, Argentina. The Manantial Espejo mill utilizes
vat leach extraction. Under the terms of this Tailings Agreement,
Hunt will make available for sale to Minera Triton up to 10,000 dry
tonnes of Tailings per contract month. Payments will be calculated
by subtracting costs incurred from net smelter return, which will
then be split equally between Hunt and Minera Triton.
As an addendum to the tailings agreement, Cerro
Cazador S.A., a division of Hunt Mining Corp., has received
$250,000 USD as an advance payment toward delivery of the first
25,000 tonnes of material from the Martha tailings area.
Chief Executive Officer and Executive Chairman
Tim Hunt states, “We are extremely pleased to be working with Pan
American Silver Corp. in providing existing tailings from our
Martha Project in Santa Cruz Province, Argentina. Pan American is a
leader in the development of mining assets in Argentina. Our
commitment to mining in Argentina is being recognized by government
officials in Argentina, and we look forward to the commencement of
mining and milling operations at the Martha Project.”
The Corporation entered into a definitive
agreement with Coeur Mining to purchase the Martha Project on
February 10, 2016 and closed the acquisition of the Martha Project
on May 12, 2016. The Corporation remains on schedule to resume
production at the Martha Project in Q4 2016. In addition to the
Martha Project and associated equipment at the facility, Hunt holds
a large land position in the Santa Cruz Province, Argentina of 37
properties covering an area of 1,737 km sq. (429,407
acres).
Additional information on the Martha Project and
other Santa Cruz, Argentina projects can be viewed on the Company
website at: www.huntmining.com.
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 property, which includes the Martha Project,
also located in the Santa Cruz Province of Argentina.
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.
This news release contains forward-looking
statements. The Corporation has provided the forward-looking
statements in reliance on assumptions that it believes are
reasonable at this time. The reader is cautioned that the
assumptions used in the preparation of the forward-looking
statements may prove to be incorrect. All such forward-looking
statements involve substantial known and unknown risks and
uncertainties, certain of which are beyond the Corporation’s
control. Such risks and uncertainties include, without limitation,
delays resulting from or inability to obtain required regulatory
approval. The actual results, performance or achievements could
differ materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurances can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do, what
benefits, including the amount of proceeds, the Corporation will
derive therefrom. Readers are cautioned that the foregoing list of
factors is not exhaustive.
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
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