HuntMountain Resources, a young, Liberty Lake-based mining exploration company, says it has acquired mineral rights to a silver-gold prospect covering about 20,000 acres in Mexico.
The three-year old company, led by Tim Hunt, president of Liberty Lake cabinetmaker Huntwood Industries Inc., says the property is called the El Capitan concession and is located in the Chinipas district in the western part of Mexico’s Chihuahua state. HuntMountain purchased the mineral rights there through a wholly-owned subsidiary called Cerro Cazador Mexico S.A. de C.V. The company says the concession is located in what is known as the Sierra Madre Gold Belt, and is near a silver-gold project owned by Coeur d’Alene Mines Corp., of Coeur d’Alene.
Steve Taylor, HuntMountain’s vice president of corporate development, says the company declines for now to release the acquisition cost. The company says the property contains “multiple zones of known gold, silver and base metal occurrences, including some that have undergone small-scale mining.”
“Chihuahua State, Mexico, has a rich mining history going back 400 years, and we are determined to continue the story through additional discoveries and subsequent mining of precious metal deposits,” said Tim Hunt in a press release.
Taylor says the company plans to begin exploring the property this fall, but declines to say how much it has budgeted for exploration there. He says HuntMountain also is aggressively exploring its property in Santa Cruz, Argentina, where it has spent about $5 million on exploration, and also has properties in Nevada and Quebec, Canada.
The company has nine employees here, and contracts with geologists and others around the world for its exploration efforts. Its stock is traded on the over-the-counter bulletin board system.
HuntMountain Resources (formerly Metaline Mining and Leasing Company) 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Steve Taylor, Director of Investor Relations
HuntMountain Resources
1611 N. Molter Road, Ste. 201
Liberty Lake, WA 99019
(509) 892-5287 phone
(509) 893-5318 fax
staylor@huntmountain.com
www.huntmountain.com
