Hunter Resources PLC New Prospect (7095Q)
June 19 2015 - 7:45AM
UK Regulatory
TIDMHUN
RNS Number : 7095Q
Hunter Resources PLC
19 June 2015
19 June 2015
Hunter Resources plc
("Hunter" or the "Company")
(AIM: HUN)
Prospero Project acquisition
Additional land applicaton north of Pampamali
The board of directors of Hunter (the "Board") is pleased to
announce that, following further regional exploration in the
Pampamali area in Peru, the Company has lodged applications for
additional tenements covering 5,000 hectares to the north west of
the Pampamali Project, to be named the Prospero Project. The
Prospero Project is close to, and along strike from the Pamapamali
Project, and could potentially share future facilities and
infrastructure. This application has been accepted and the
tenements will be owned 100% by Hunter's wholly owned subsidiary,
Gold Hunter SAC. The location of these tenements is shown in Figure
1 which is available on the Company's website
www.hunter-resources.com. The application is now progressing
through the normal Peruvian mining tennement application
process.
The ground under application is directly along strike of the
Company's Pampamali Project from which the trend of mineralisation
continues into this new area. Preliminary mapping of the Prospero
Project by the Company's technical team has identified prospective
geological structures and quartz veining with associated
hydrothermal activity and breccias.
Veins can be seen on many of the hillsides and Spanish workings
(which at the Pampamali Project have returned strongly anomalous
gold samples), are evident in several locations. Breccia fragments
and strong iron oxide staining can be found in most of the
streambeds indicative of the presence of mineralisation.
The Prospero and Pampamali Projects are located within a
prospective silver-gold-base metal belt. The Compania de Minas
Buenaventura owned Julcani silver-base metal mine lies
approximately 25 km north west of the Prospero and Pampamali
Projects and has been operating since 1937.
Hunter plans to commence geological mapping and sampling with a
view to defining drillable targets over the next few months.
The Pampamali Project consists of 8 exploration concessions with
a total area of 3,500 hectares and is located in central Peru in
the Department of Huancavelica, approximately 550 km by road from
the City of Lima. Hunter has the option, subject to certain
conditions, to acquire a 51% interest in the Pampamali Project,
details of which have previouisly been announced.
Simon Hunt, Executive Chairman of Hunter, said: "The acquisition
by the Company of the Prospero Project approximately doubles the
size of the Company's concessions in the area and provides new and
excellent geological targets over ground not previously subject to
modern geological exploration."
In accordance with the guidelines of the AIM Market of the
London Stock Exchange, Andrew Richards BSc (Hons), DipEd MAusIMM
MAIG MSEG GAICD, a Director of Hunter and a qualified geologist
with over thirty years of experience in the mining industry, is the
qualified person as defined in the London Stock Exchange's Guidance
Note for Mining and Oil and Gas companies, who has reviewed and
approved the technical information contained in this announcement.
Mr. Richards has also relied on primary information supplied by
staff and third party consultants in carrying out his review."
For further information, please contact:
Hunter Resources PLC Allenby Capital Limited
Simon Hunt (Nominated Adviser and Broker)
(Chairman) Nick Harriss/Nick Naylor
+44 7733 337 755
+44 20 3328 5656
Andrew Richards
+61 423 044 879 www.allenbycapital.com
www.hunter-resources.com
------------------------- -------------------------------
Additional Information
A copy of this announcement with mapping/location, is shown with
the Hunter Resource's concessions can be viewed at
www.hunter-resources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLPKCDNDBKDQAD
Hunter Res. (LSE:HUN)
Historical Stock Chart
From Jul 2024 to Aug 2024
Hunter Res. (LSE:HUN)
Historical Stock Chart
From Aug 2023 to Aug 2024