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GMV Minerals Inc (3)
Symbol C : GMV
Shares Issued 42,726,206
Close 2019-09-10 C$ 0.18
Recent Sedar Documents

GMV drills 30.5 m of 1.47 g/t Au at Mexican Hat

2019-09-10 09:12 ET - News Release

Mr. Ian Klassen reports

GMV MINERALS INC. ANNOUNCES MULTIPLE BROAD DOMAINS INTERCEPTED INCLUDING 30.5 METRES GRADING 1.47 GPT GOLD AND 45.7 METRES GRADING 0.61 GPT GOLD

GMV Minerals Inc. has received the final assays from its recent 11-hole drill program at its 100-per-cent-controlled Mexican Hat gold deposit located in southeast Arizona.

The 2019 spring drill program focused specifically on drill testing areas within the pit model produced by IMC (Independent Mining Consultants Inc.) in the fall of 2018. Due to the absence of drill holes in certain areas of the proposed pit, these areas were classified as waste tonnage and GMV management determined that this assumption should be tested.

Ian Klassen, chief executive officer, commented: "I am pleased to report that our recent drill program designed to test certain waste areas within the proposed pit has been a success. For example, we are delighted that a stepout drill hole in this program (MHRC19-01) was successful in confirming economically significant mineralization in the second pit located to the southeast. Currently, the GMV exploration team is assessing future drill targets which will be designed to increase the conceived pit life by several years of production."

The Mexican Hat economic model published December 19, 2018 uses a 0.2 GPT gold cutoff.

 
Hole         From (m)   To (m)   Intercept (m)   Gold (g/t)

MHRC 19-5         0.0      3.0             3.0         0.35
MHRC 19-5        67.1     73.2             6.1         0.30
MHRC 19-5        88.4    103.6            15.2         0.61
MHRC 19-5       109.7    112.8             3.0         0.31
MHRC 19-5       125.0    128.0             3.0         0.31
MHRC 19-5       158.5    161.5             3.0         0.27
MHRC 19-5       176.8    179.8             3.0         3.09
MHRC 19-5       189.0    192.0             3.0         0.74
MHRC 19-5       216.4    219.5             3.0         0.28
MHRC 19-5       240.8    262.1            21.3         0.42
MHRC 19-6         0.0     12.2            12.2         0.51
MHRC 19-6        57.9     61.0             3.0         1.00
MHRC 19-6        88.4     97.5             9.1         0.61
MHRC 19-6       103.6    128.0            24.4         0.85
MHRC 19-6       134.1    152.4            18.3         0.33
MHRC 19-6       176.8    222.5            45.7         0.61
MHRC 19-6       268.2    271.3             3.0         1.00
MHRC 19-6       298.7    300.2             1.5         0.24
MHRC 19-9       158.5    164.6             6.1         0.44
MHRC 19-9       176.8    182.9             6.1         0.44
MHRC 19-9       204.2    253.0            48.8         0.42
MHRC 19-9       274.3    277.4             3.0         0.28
MHRC 19-9       280.4    283.5             3.0         0.23
MHRC 19-9       301.8    304.8             3.0         0.75
MHRC 19-10       18.3     24.4             6.1         0.51
MHRC 19-10       33.5     64.0            30.5         1.47
MHRC 19-10      115.8    134.1            18.3         0.30
MHRC 19-10      176.8    179.8             3.0         0.25
MHRC 19-11        0.0      3.0             3.0         0.27
MHRC 19-11        9.1     15.2             6.1         0.49
MHRC 19-11       51.8     54.9             3.0         0.20
MHRC 19-11       70.1     79.2             9.1         0.85
MHRC 19-11      121.9    137.2            15.2         0.88
MHRC 19-11      149.4    155.4             6.1         0.29

RC samples were collected using a rotary splitter at the drill, bagged, dried and shipped by commercial carrier to Inspectorate America Corp. Laboratories in Sparks, Nev. Certified standards and blanks were inserted into the sample stream prior to shipping, and laboratories standards, blanks and duplicates were analyzed and reported. Samples were prepared using PRP70-250 and analyzed using FA330 (fire assay) and AQ251 (inductively coupled plasma) methods. All gold values are reported from the FA330 results. All standards and duplicates reported acceptable results.

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

About GMV Minerals Inc.

GMV Minerals is an 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 project, located in Cochise county, Arizona. 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.

We seek Safe Harbor.

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