VANCOUVER, BC, APRIL 28, 2016 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to announce that it will commence operations to collect of a 20-tonne bulk sample on its wholly-owned Mexican Hat Property, Cochise County, Arizona, USA.
This GMV spring development program is being conducted at the request of Mr. John Fox, P. Eng., the Company’s consulting metallurgist. A typical bedrock exposure has been selected for bulk sample removal. Due to multiple fractures, the work will be conducted with an excavator equipped with a hammer accessory. The broken bedrock will be shipped to a certified metallurgical facility as Run of Mine (ROM) material for a leach recovery test in 1.2 m diameter by 6 m columns on -150 mm material. In addition, other samples will be collected from drill core and exposures on the property to further assess other significant rock types. Together, this work will assist planning for the development of a Mine Plan of Operation.
In addition, a comprehensive trenching program to assess the extension of mineralization to the southeast of the established resource near where Santa Fe delineated significant gold mineralization is also planned to be conducted during the bulk sample program. Both programs are estimated to take three weeks to complete and preliminary results will be received throughout the processing period which is expected to take approximately 16-20 weeks. The final results will be determined upon reconciliation of the grade of the leached rock with the head grades and recovered gold at the end of the program.
Previous test work at the Mexican Hat gold property has demonstrated excellent leach recoveries on samples in bottle roll and column leach tests. A 2.5 tonne sample collected in 2015 showed 94.6% gold recoveries on material crushed coarser than 1.5” in a 90 day leach cycle (NR October 13, 2015).
Ian Klassen, GMV’s President commented that “Positive ROM characteristics are significant. Crushing costs are a large component of a heap leach mine’s operating costs and that the ability to recover gold from ROM ores can be very favourable to the economics of any mine plan, potentially reducing capital costs, operating costs, and allowing for increased throughput”.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way passed upon the merits of the transaction and has neither approved nor disproved the contents of this press release.