VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 18, 2016) –
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
GMV Minerals Inc. (the “Company” or “GMV”) (TSX VENTURE:GMV) is pleased to announce that its drill program is underway at its Mexican Hat gold property in S.E. Arizona. The Company’s 14-hole reverse circulation drilling program is specifically designed to expand mineral resources to the west, east and south of the existing Mexican Hat gold resource. The drill program will test along strike of the known mineralization and to the southeast where a previous operator identified significant gold mineralization. The program will also test down to a depth of 300m per hole to explore mineralization below historical drilling of 200m from surface.
In addition, the Company reports that its run of mine (ROM) testing in a large column leach is still recovering economically significant gold after 119 days under leach. At the recommendation of John Fox, P.Eng., our consulting metallurgist, and in discussion with the Dr. Alice Shi at Bureau Veritas, GMV will continue to leach this material until no further significant gold values are recovered. Ian Klassen, GMV’s CEO commented, “Upon concluding the bulk sample leach test, the remaining rock in the test will be assayed to confirm the reconciled head grades and subsequently the exact percentage of recovery. We eagerly await those results.”
The Company will issue updates on its geochemical and geophysical surveys when they are complete.
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
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.
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.