As well, the Company wishes to confirm that it has received final regulatory approval on the assignment of two State of Arizona Exploration Permits. These are Permit No. 08-117862 covering an area of approximately 187 hectares located in Section 16; Lots 1,2,3,4,6,7; N2; NESE, T19S, R25E and Permit No. 08-117863 covering an area approximately 197 hectares located in Section 9; SWNE; W2NW; SENW; SW; E2NE; N2SE, T19S, R25E.
GMV also announces that its metallurgical testing of a 2.5 tonne (+/-) bulk sample at McClelland Labs Inc. is progressing with two composites produced from the sample undergoing leach testing. Initially bottle roll testing will confirm leaching parameters which will be used to design the column leach tests at 100% minus 2” and 80% -1.5”. Typical column tests are run for 60 days but can go shorter or longer depending on leaching performance. Results will be released at the conclusion of this work.
Lastly, subject to TSX Venture Exchange approval, the Company has granted incentive stock options to a consultant to purchase up to 50,000 common shares exercisable on or before May 3, 2020 at a price of $0.25 per share.
Dr. D.R. Webb, B.A.Sc. (Engineering), M.Sc. Ph.D., P.Geo. is a qualified person within the meaning of NI #43-101. Dr. Webb has reviewed and is responsible for the technical details of this release.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat project, located in Cochise County, Arizona, USA. The Mexican Hat property contains an inferred mineral resource of 23,452,000 tonnes grading 0.70 grams of gold per tonne hosting 531,400 troy ounces of gold. The project was initially explored by Placer Dome (USA) in the late 1980’s to early 1990’s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production.
For further information please contact:
GMV Minerals Inc.
Tel: (604) 899-0106