GMV Minerals Inc. Announces Drilling Update
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2019) - GMV Minerals Inc. (TSXV: GMV) (the "Company" or "GMV") is pleased to announce that the Company has extended its current drill program to test the mineralized extensions at its 100% controlled Mexican Hat gold deposit in SE Arizona. The Company is pleased to confirm that it has completed five holes and expects to drill up to a further ten holes to test areas within the existing pit model that was used for the Company's Preliminary Assessment (see NR December 19, 2018) where it is anticipated that some of what is currently undrilled and therefore considered waste can be converted into mineralized material, as well as adjacent to the pit model where the known mineralization is open for expansion.
The Company further confirms that additional surficial geochemical sampling has been completed and is expected to extend the existing grid into areas where established geochemical and geophysical anomalies can be better defined. A total of 417 RC samples and 129 soil samples have been submitted for analyses to date with results expected to commence being received in late June.
Lastly, the Company announces that, subject to TSX Venture Exchange approval, it has granted incentive stock options to various directors, officers and consultants to purchase up to 500,000 common shares exercisable on or before June 3, 2024 at a price of $0.15 per share.
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
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.
For further information please contact:
GMV Minerals Inc.
Tel: (604) 899-0106
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES -
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.
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