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GMV Minerals Inc
Summary
| Project: | Mexican Hat | |
|---|---|---|
| Deposit: | Mexican Hat | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 2/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-2-2017: GMV Minerals Inc announces an Exploration/Drilling Update report for its Mexican Hat deposit at the Mexican Hat project. Drilling results incl. 39.7m @ 0.38g/t Au from 243.8m. GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to | |
| Resources: | (Resource, Inf.): 23.452Mt @ 0.7g/t Au for 531400oz Au contained | |
| CP/QP: | [Overall Report]: Dr D.R. Webb (Not stated) | |
| ABSTRACT: | GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to report results from 8 of 15 holes in its reverse circulation drill program designed to extend the known mineralization on its Mexican Hat gold property in S.E. Arizona. All holes are outside of the existing resource. The Company is pleased to announce that it has extended the known area of its mineralization by another 420 meters. The current NI #43-101 resource was calculated with a 0.2 gpt gold cut-off, so all assays that exceed the cut off are considered material and further support an open pit heap leach extraction model. The H2 Zone (targeted with seven holes) was encountered at shallower levels than expected in all holes, and intersections include; 6m of 0.40 gpt gold, 6m of 0.25 gpt gold, 9m of 0.89 gpt gold, and 6 m of 0.30 gpt gold, extending the H2 Zone 420 m to the southeast. An additional zone was encountered in GMV 2016-1, 3m of 0.59 gpt gold, and in GMV 2016-2, 3m of 0.29 gpt gold. The 060o striking AN, A, B, C, and D zones were not encountered in one hole (GMV 2016-13), but were intersected in a second hole. The results from seven additional holes are pending. GMV 2016-14 encountered multiple mineralized intercepts including 3 m of 1.06 gpt gold, 3 m of 1.55 gpt gold, and a broad zone of 39.7 m of 0.38 gpt gold including 9m of 0.97 gpt gold and 21.3m of 0.56 gpt gold (includes 6m of 1.07 gpt gold). The five 060o zones are extended up to 110 m by the drilling completed to date with the deepest intercepts being 160m below surface. Ian Klassen, GMV’s CEO remarked, “We are pleased to extend the H2 Zone and encounter additional mineralization to the southeast, beyond the previous limits of our resource. GMV 2016-14 encountered multiple intercepts as expected, adding strike length to the established large resource blocks and providing a deeper cut on the VF zone. The balance of the holes includes deeper targeting on the larger 060o zones as well as another step out to the northeast of GMV 2016-14. We look forward to receiving those assays shortly”. | |
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