Hunt Mining Acquires Martha Silver Mine in Santa Cruz Province, Argentina
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Hunt Mining Corp. has acquired the Martha Mine, located in the Santa Cruz Province, Argentina and 50 kilometers northeast of the town of Gobernador Gregores, Argentina.
The Martha Mine has year round access, contains a flotation mill, equipment and buildings and commenced silver production in 2008. The corporation’s acquisition of the Martha Mine will further the transition from an exploration entity to a mining entity. Hunt has one of the largest land packages in Santa Cruz and plans to use its acquired flotation mill and infrastructure for mineral exploitation.
Hunt has been an active exploration and development entity in the Santa Cruz Province, Argentina since 2006. Since 2006, the corporation has invested a total of C$40,000,000 in its Santa Cruz properties which includes the flagship La Josefina Gold/Silver Project and La Valenciana Gold/Silver Project. Both La Josefina and La Valenciana are located within 120 kilometers of the Martha Mine.
“We are extremely pleased with the purchase of the Martha Mine, and look forward to initiating production in 2016. The Martha Mine is a state of the art facility, with the capacity to process localized ore from regions surrounding the Martha Mine mill, which includes our La Josefina and La Valenciana projects. We look forward to working with the Argentine government and local work force for continued exploration and future mining,” said Tim Hunt, chairman and CEO of Hunt Mining.
The parties involved include an Argentine subsidiary of Hunt Mining and an Argentine subsidiary of Coeur Mining, Inc. The purchase price for the Martha mine, flotation mill, equipment and buildings is US$2.7 million plus applicable taxes.
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 approximately 64,000 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. The corporation also holds a 100 percent interest in the Martha Mine through an Argentina subsidiary.
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