VANCOUVER, BC, October 10, 2023 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) (OTCQB: GMVMF) is pleased to announce that it has contracted Precision GeoSurveys Inc. of Langley, British Columbia to perform a helicopter-borne high resolution magnetic and radiometric survey at its Daisy Creek project in Lander County, Nevada.
Ian Klassen, CEO remarked “We are very pleased to be working with Precision, a Canadian and global leader in airborne geophysics. The airborne survey, expected to start in the next two weeks, will be flown in a systematic low level grid pattern using 150 metre line spacing at a planned constant flight height of 40m. The high-resolution magnetic and radiometric survey will be another important instrument used by GMV’s exploration team to map the geometry of the caldera basin in detail, as well as the radiometric response of the exposed rocks to determine what the previous owner Phillips Uranium was targeting when they drilled the high-grade lithium target in the 1980’s. The survey will provide uniform, low ground-clearance magnetic and radiometric data coverage of the Daisy Creek project at higher resolution than existing surveys that cover only parts of the property.
The geophysical survey will encompass 100-line km at 150 m spacing over one survey block of 13.8km2 and will utilize a Scintrex CS-3 (or equivalent) cesium vapor magnetometer sensor with 0.01 nT sensitivity in a proprietary non-magnetic and non-conductive survey boom for total magnetic intensity measurements. Radiometric data will be collected using a Nuvia Dynamics AGRS-5 spectrometer with 21 L of self-calibrating radiation detection crystals. The Helicopter, an Airbus AS350, is configured with a laser altimeter, attitude sensor, temperature/humidity/barometric probe and its own WAAS-enabled GPS receiver.
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.
Precision GeoSurveys is a full-service airborne geophysical contractor and industry leader in providing high resolution surveys in mountainous and remote terrain having acquired and processed high resolution multi-sensor airborne geophysical data in mountainous terrain on over 700 surveys since 2007. The company utilizes state-of-the-art geophysical instrumentation attached directly to the helicopter. The magnetic sensors are flown in a non-magnetic and non-conductive nose stinger configuration, and the gamma sensors are flown internal to the aircraft away from variable fuel cell attenuation. Compared to conventional slung bird-type survey systems, this innovative design allows the survey to be safely flown at reduced terrain clearance to minimize noise, improve resolution, and reduce the need for complex corrections to the data. The geophysical data and maps will be prepared using industry standard Geosoft algorithms and mapping software to show the geomagnetic and radiometric properties of the survey area.
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 Property, 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’s NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold. In 2023, GMV acquired a total of 165 lode claims covering 3,408 acres in Lander County, Nevada where it is exploring highly prospective claims for lithium.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
For further information please contact:
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.