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GMV Minerals Inc
Summary
| Project: | Mexican Hat | |
|---|---|---|
| Deposit: | Mexican Hat | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 11/7/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-11-2018: GMV Minerals Inc announces a PEA report for its Mexican Hat deposit at the Mexican Hat project. PEA results incl. pre-tax NPV of US $101M (5%), IRR of 33%, 5yr LOM at the project. VANCOUVER, BC, November 07, 2018 – GMV Minerals Inc. (the “Compa | |
| Resources: | (Resource, Inf.): 32.876Mt @ 0.616g/t Au for 651000oz Au contained at Mexican Hat | |
| CP/QP: | [Overall Report]: Daniel Roth, Justin Black (M3 Engineering & Technology) | |
| ABSTRACT: | VANCOUVER, BC, November 07, 2018 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to release the results of its preliminary economic assessment (the “Study”) for the Mexican Hat Project gold deposit located in Cochise County, Arizona (“Mexican Hat” or the “project”). GMV Minerals Inc. is a publicly traded exploration company solely focused on developing precious metal assets in Arizona. PEA Highlights The base case assumes a gold price of US$1,325/ounce (“oz”). All figures are stated in U.S. Dollars (“$”) unless otherwise noted. All tonnages are metric tonnes. Precious metal grades are in grams per metric tonne (g/t). The Technical Report, pursuant to National Instrument (“NI”) 43-101 guidelines for the Preliminary Economic Assessment, will be filed on SEDAR within 45 days. The mine plan is currently conceived as a conventional hard rock open pit. There are two independent pits which are developed with five phase or pushback designs. The mine plan produces a nominal ore tonnage to the process plant of 5,475 Ktonnes of ore per year (15,000 tpd) from a total material movement of 20,880 Ktonnes per year (52,200 tpd). Over the course of the five-year mine life, 25.1 Mtonnes of mineralization are planned for processing out of a total material movement of 96.4 Mtonnes. - 3 - The reader is cautioned that this mine plan is based on a mineral resource which includes inferred category mineralization. The reader is further cautioned that mineral resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the mineral resources will be realized or that they will convert to mineral reserves. There is no mineral reserve at Mexican Hat at this time. A component of the mineral resource, inclusive of inferred mineralization has been designated as potentially minable material for this PEA. This material does not constitute a mineral reserve and any reference to the word “ore” is for convenience of defining material that is planned for processing in the Preliminary Economic Assessment (PEA). | |
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