GMV Minerals Inc. is a junior gold development company focused on the Mexican Hat project, located in southeast Arizona (100% interest). The Mexican Hat property, one of the most promising gold development opportunities in the western USA, is an epithermal gold deposit extensively explored by Placer Dome (USA) in the early 1990’s. Mexican Hat contains an Inferred Mineral Resource of 651,000 ounces of gold (32,876,000 tonnes grading 0.616 g/t Au). Mineralization is open in all directions and at depth.
- Initial inferred resource of 651,000 ounces of open pittable oxide gold
- 100% interest in Mexican Hat Gold Property located in mining-friendly Arizona
- Open pit scenario suited to a low cost heap leach operation
- Mineralization open in all directions and at depth – metallurgical results show impressive gold recoveries
Preliminary Economic Assessment Highlights (filed December 2018)
- Two-stage open circuit stacked at a rate of approximately 15,000 tonnes per day on a conventional heap leach pad
- Current mine life of 5-years with a 1-year pre-production period….open to expansion
- Life of mine (LOM) head grade of 0.66 g/t gold
- Low LOM Strip Ratio of 2.8
- Payback —2 years
- Next phases of work: drilling to expand resource and enhance NPV of US$133.3million.
- Total amount of gold recovered is estimated at 470,000 oz
- Average annual gold production of approximately 94,000 oz
- Peak annual gold production of approximately 118,000 oz
- LOM direct operating cash cost is estimated at $658/oz of gold recovered
- All-in sustaining cost is estimated at $764/oz of gold recovered
- LOM sustaining capital costs is estimated at $40.0 million
** The base case assumes a gold price of US$1,300 per ounce (oz). All figures are stated in U.S. Dollars ($). All tonnages are metric tonnes. Precious metal grades are in grams per metric tonne (g/t).