VANCOUVER, BC, December 9, 2019– GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to announce that the Company has engaged Zonge International of Tucson, Arizona to conduct an Induced Polarization Survey (”IP”) over 1.9 km2 of its 100% controlled Mexican Hat gold deposit located in SE Arizona.
The survey will cover the prospective epithermal target at Hernandez Hill as well as the eastern portion of the pit-constrained resource that was subjected to its positive Preliminary Economic Assessment (“PEA”). Both targets were identified by an AMT survey and will be better refined by this IP survey. This includes specific drill targets at Hernandez Hill as well as extension of the mineralization beyond the limits defined in the PEA.
IP surveys identify potentially mineralized rocks by mapping conductivity (resistivity) and chargeable (metallic) mineral distribution in the ground. Hernandez Hill is believed to have excellent potential to host an epithermal precious metal deposit because of the exposed silicification and very elevated pathfinder elements (Hg, Sb, As, Au), whereas the Mexican Hat mineralization is structurally-hosted with alteration minerals including hematite, biotite, chlorite, and carbonate and extensions of this could also be traced using IP techniques.
Mr. Ian Klassen, CEO commented, “I am pleased to report that our recent drill program confirmed expansions of the mineralization within the PEA resource model. We intend to establish the limits of mineralization beyond the current pit model and in other areas of the property. Our recent drilling has extended the higher-grade mineralization down-dip of the pit, and suggest a shallower dip to the zone in this area (MHRC19-01, 3m grading 1.216 gpt gold, see NR Sept 10, 2019). This survey may open up substantial areas for drill-testing south of the pit.”
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. 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 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. The Company recently updated its inferred mineral resource to 32,876,000 tonnes grading 0.616 g/t gold at a 0.2 g/t cut-off, containing 651,000 ounces of gold.
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 which 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.