GMV Minerals Inc. Announces Discovery of a New Gold Target 900 Meters South of the Mexican Hat Deposit at Little Hat Mountain
Vancouver, British Columbia--(Newsfile Corp. - August 12, 2019) - GMV Minerals Inc. (TSXV: GMV) (the "Company" or "GMV") is pleased to announce that the Company has identified a prospective geophysical and geochemical target on its 100% controlled Mexican Hat Gold property located in Cochise County, SE Arizona.
A program collecting 129 new soil samples focusing on the Little Hat Mountain area, where a recent interpretation of the ground magnetic survey identified a near surface anomaly, was determined to be similar to the magnetic anomaly at the Mexican Hat Deposit and is within 200 m of surface (see NR July 4, 2019).
Soils at Little Hat Mountain are highly anomalous in gold, antimony, tellurium, and arsenic and significantly elevated in other pathfinder elements. This is geochemically similar to the Mexican Hat Deposit located 900 m to the north. Dr. Webb, Ph.D., P. Geol., P.Eng. acting Project Manager states "The distribution of these anomalies, show the peak of Little Hat Mountain to be characterized by silver, mercury, tellurium, selenium, and bismuth anomalies up to 5.5 times background values, with gold, arsenic, and antimony anomalies up 100 times background values occurring at lower elevations, manteling Little Hat Mountain. See maps presented at https://www.gmvminerals.com/projects/maps-sections/ This distribution suggests mineral zoning, characteristic of many epithermal deposits."
Mr. Ian Klassen, President, remarked "We are very pleased to be able to support the geophysical interpretation at Little Hat with very encouraging soil geochemistry. The proximity of Little Hat Mountain, its similar geology and now geophysics and geochemistry to our expanding mineral resource 900 m to the north at Mexican Hat is very promising. GMV is planning to drill test this target".
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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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.
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