15:32:56 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



GMV Minerals Inc (3)
Symbol GMV
Shares Issued 86,355,029
Close 2023-10-06 C$ 0.18
Market Cap C$ 15,543,905
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GMV Minerals hires Precision for Daisy Creek survey

2023-10-10 12:54 ET - News Release

Mr. Ian Klassen reports

GMV MINERALS RETAINS PRECISION GEOSURVEYS INC. TO FLY HELICOPTER-BORNE HIGH RESOLUTION MAGNETIC AND RADIOMETRIC SURVEY AT THE DAISY CREEK PROJECT IN NORTH CENTRAL NEVADA

GMV Minerals Inc. has contracted Precision GeoSurveys Inc. of Langley, B.C., to perform a helicopter-borne high-resolution magnetic and radiometric survey at its Daisy Creek project in Lander county, Nevada.

Ian Klassen, chief executive officer, remarked: "We are very pleased to be working with Precision, a Canadian and global leader in airborne geophysics. The airborne survey, expected to start in the next two weeks, will be flown in a systematic low-level grid pattern using 150-metre line spacing at a planned constant flight height of 40 m. The high-resolution magnetic and radiometric survey will be another important instrument used by GMV's exploration team to map the geometry of the caldera basin in detail, as well as the radiometric response of the exposed rocks to determine what the previous owner Phillips Uranium was targeting when they drilled the high-grade lithium target in the 1980s. The survey will provide uniform, low-ground-clearance magnetic and radiometric data coverage of the Daisy Creek project at higher resolution than existing surveys that cover only parts of the property."

The geophysical survey will encompass 100 line-kilometres at 150 m spacing over one survey block of 13.8 square km and will utilize a Scintrex CS-3 (or equivalent) cesium vapour magnetometer sensor with 0.01 nT sensitivity in a proprietary non-magnetic and non-conductive survey boom for total magnetic intensity measurements. Radiometric data will be collected using a Nuvia Dynamics AGRS-5 spectrometer with 21 litres of self-calibrating radiation detection crystals. The helicopter, an Airbus AS350, is configured with a laser altimeter, attitude sensor, temperature/humidity/barometric probe and its own Wide Area Augmentation System-enabled GPS receiver.

Dr. D.R. Webb, PhD, PGeo, PEng, is the qualified person for this release within the meaning of National Instrument 43-101 and has reviewed the technical content of this release and has approved its content.

About GMV Minerals Inc.

GMV Minerals is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100-per-cent-owned subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat property, located in Cochise county, Arizona, United States. The project was initially explored by Placer Dome (USA) in the late 1980s to early 1990s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near-term gold production. The company's NI 43-101 resource estimate (inferred) is 36,733,000 tonnes grading 0.58 gram per tonne gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold. In 2023, GMV acquired a total of 165 lode claims covering 3,408 acres in Lander county, Nevada, where it is exploring highly prospective claims for lithium.

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