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GMV Minerals Inc
Summary
| Project: | Mexican Hat | |
|---|---|---|
| Deposit: | Mexican Hat | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 7/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-7-2018: GMV Minerals Inc announces a Resource Estimation report for its Mexican Hat deposit at the Mexican Hat project. Updated mineral resource estimate at the project. VANCOUVER, BC, JULY 17, 2018 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: | |
| Resources: | (Resource, Inf.): 32.876Mt @ 0.616g/t Au for 651000oz Au contained at Mexican Hat | |
| CP/QP: | [Resources]: James Barr (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | VANCOUVER, BC, JULY 17, 2018 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to announce that it is in receipt of an updated Mineral Resource Estimate (“MRE”) prepared by Tetra Tech Canada Inc. (Tetra Tech), Dr. D.R. Webb, Ph.D., P.Geo., P.Eng., and Mr. John Fox, P.Eng., on its 100% controlled Mexican Hat gold property located in S.E. Arizona. The Inferred MRE of 32,876,000 tonnes grading 0.616 gpt gold at a 0.2 gpt cut-off, contains 651,000 ounces of gold, which is a 22% increase of contained ounces from the previous MRE (Webb, 2015). The MRE is reported as a pit constrained resource completed using Whittle software optimization. Whittle software was used to determine and optimise the ecoanomics of open pit mining projects. Its unique capabilities enabled the Company to analyse pit designs in the context of physical, economic and mining constraints according to specific mining, metallurgical and other costs relative to the grade, gold price, recovery as well as other revenue inputs. This allows for the determination of what portion of a larger block model might be reasonably recoverable. The pit constrained results are presented in the table below. | |
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