VANCOUVER, BC, August 2, 2016 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V:GMV) announces that, as part of ongoing test work from its Mexican Hat gold property, it has commenced a large scale column leach metallurgical test on a 7.5 tonne portion of the 18 tonne bulk sample which is currently under leach. The 1m diameter x 6m high column is loaded with up to 200mm rock.
As part of this ongoing programme, the Company is pleased to report the results of three bottle roll tests that have now been received. The three samples of mineralized rock, one from each of the major rock units on the property was selected to be representative of typical mineralization in all of the major host rocks identified to date. One sample is a subset of the 18 tonne bulk sample (see NR June 15, 2016), one is of rhyolite from a depth of 13 m downhole on diamond drillhole MH-11-008, and one is of trachybasalt from a depth of 122 m downhole on diamond drillhole MH-11-005.
All samples have returned the targeted grades for this test work and they continue to demonstrate excellent gold recoveries (see “recovery” column in chart below).
|P80||NaCN||Leach Retention||Meas. Head||Calc. Head||Recovery||Residue*|
|µm||g/L||Hour||Au (g/t)||Au (g/t)||Au (%)||Au (g/t)|
The samples were crushed to 80% -6 mesh and a subset was pulverized to 80% - 74 µm. These were leached for 96 and 48 hours respectively in a 0.50 g/l NaCN solution with pH maintained between 10 and 11. All work was completed on samples collected by Dr. Webb at Bureau Veritas’ Laboratory in Richmond B.C. under the direction and supervision of John Fox, P.Eng.
Ian Klassen, GMV’s CEO reports “We are very pleased to have attained our targeted grades during sampling, biasing the bulk sample to slightly lower grades to better represent ROM material. The higher grades shown from the calculated head grades compared to the measured head grades in all samples appears to be a function of the larger sample size used in determining the calculated head grade. Larger samples tend to be more representative of a sample population.”
The coarse material shows slower recoveries in the 96 hour test than the P80 -74 µm samples. John Fox, P.Eng. remarked that “the high recoveries were expected due to the nature of the mineralization where the gold is associated with fracture zones that are variably altered by hematite, chlorite, sericite, carbonate and only minor silica. These fractures are not sealed, open preferentially and readily expose their surfaces and gold to leach solutions. The samples crushed to -6 mesh were still on a rising slope indicating that leaching was still taking place at the end of the test. This means that an extended leach time would have improved recoveries even further.”
More information will be forthcoming from the large-scale column test that together with the bottle roll tests will allow for a more complete interpretation of these results.
Dr. D.R. Webb, B.A.Sc., M.Sc., Ph.D., P.Geo. is the Q.P. 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 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
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For further information please contact:
GMV Minerals Inc.
Tel: (604) 899-0106
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This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.