Shortly before noon, Hunt Gold announced today that it has commenced with the immediate staking of an additional 71 different, but adjacent, Claim Blocks surrounding its “Mockingbird” Gold Mine in Arizona and explained its motivation for this additional capital expenditure. The company anticipates releasing the full details of these claims once all paperwork has been filed with the BLM.
According to the press release, the claims are well known to the company and are believed to be strategically important. Hunt Gold reviewed the exploration and mining history prior to acquiring these properties and is strongly encouraged by its findings.
Currently, the company is drilling to define the gold resource, to determine the best way to mine it, and to estimate at what gold price it can be mined at a profit. This initiative will take multiple drill campaigns. Some of the drill holes will have gold, while some will not.
Hunt Gold will decide whether to mine a particular property by itself, use a contract mining company or take a different approach depending on what makes the most financial sense for the company and its shareholders. The company is not committed to any particular approach until far more extensive exploration and drilling has been conducted over the coming months.
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