VANCOUVER, BC, MAY 9, 2016 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX V: GMV) is pleased to announce that it has received approval from the Arizona State Land Department to proceed with its Exploration Plan of Operation concerning Permit #08-117863 located on its wholly-owned Mexican Hat gold property in S.E. Arizona.
In addition to its recently announced up to 20 tonne bulk sample, management is planning to excavate two 400 ft. trenches to expose bedrock in the vicinity of 19 holes previously drilled by Santa Fe Gold Corp. (“Sante Fe”), where significant gold values were obtained from depths as shallow as 3.0 m down hole (SF9-27), 4.52 m down hole (SF9-23) and 7.62 m down hole (SF9-8).
Concentrations of gold such as 13.7 m of 1.71 gpt (SF9-8) and 3 m of 1.99 gpt (SF9-28) have been obtained at shallow depths in historic drill results from this area. These are historic results and not NI 43-101 compliant but are believed to be accurate and are reported for reference to the prospectivity of the area. The Company will expose, map and sample this zone to better define this trend for subsequent drilling.
The mineral resource at Mexican Hat extends for 850 m (open) in an elongate northwest – southeast direction, established by the currently known limits of drilling. The Santa Fe drilling, in an area now owned by GMV Minerals Inc., is located 260 m southeast of the resource and covers a further 190 m of projected strike to the southeast. A projection of the mineral trend suggests that the overall zone might be 50% longer in strike to the southeast than is currently drill-tested. None of these historic drill holes completed by Santa Fe have been included in the current NI 43-101 compliant resource estimate.
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.