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GMV Minerals Inc
Summary
| Project: | Mexican Hat | |
|---|---|---|
| Deposit: | Mexican Hat | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 2/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-2-2017: GMV Minerals Inc announces an Exploration/Drilling Update report for its Mexican Hat deposit at the Mexican Hat project. Drilling results incl. 6.1m @ 1.83g/t from 152.4m. GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to re | |
| 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 preliminary results from two additional holes from its recently completed reverse circulation drill program designed to extend the known mineralization on its Mexican Hat gold property in S.E. Arizona. As was the case in the first batch of holes reported on February 1, 2017, both holes are adding to the existing resource. The Company is pleased to announce that it has extended the known area of mineralization in the north of the Mexican Hat deposit by approximately 120 metres. 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 intersections on GMV 2016-8 are an approximately 30-meter lateral step out to the northeast on zones AN, A, and B, and are 30 meters deeper on the AN zone, 20 meters deeper on the A zone, and 20 meters deeper on the B zone. The intersections in GMV 2016-7 are similar lateral step outs as in GMV 2016-8. The two new intersections are located above 130 meters downhole (the first two intercepts in hole 2016-7-see below) and both are newly discovered zones. The Company is also pleased to confirm that this hole hit the AN zone 100 meters below previous drilling, 120 meters below previous intercepts on A zone, and 100 meters deeper on B zone. The Company wishes to confirm that some infill sampling is pending on these two holes which may add to the reported intercepts’ grade and length. Both of these holes intersected multiple fractured hematite-bearing zones, typically associated with the known mineralization. | |
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