Jan 12 2017
GMV Minerals Inc. (the "Company" or "GMV") (TSX VENTURE:GMV) is pleased to announce that, in addition to its two recently acquired exploration permits (NR issued December 14, 2016), the Company has now acquired a 100% interest in another four new exploration permits at the Arizona State Land Department (ASLD). These permits further extend the north and northwest boundaries of its Mexican Hat gold exploration project located in S.E. Arizona. The Company has now increased its land position by approximately 2,573 acres within the last month.
GMV has acquired a 100% interest in the following:
1. Permit Application No. 08-119128 (480ac in Section 28, T18S, R25E);
2. Permit Application No. 08-119129 (400ac in Section 29, T18S, R25E);
3. Permit Application No. 08-119130 (640ac in Section 32, T18S, R25E); and
4. Permit Application No. 08-119131 (52.56ac in Section 5, T19S, R25E);
The Company also confirms that the field portion of the previously announced AMT geophysical surveys have been completed. As originally designed, these covered the Mexican Hat, the Hernandez Hill and the southern portion of a larger epithermal target area. The results have identified resistivity anomalies coincident with the mineralized domains at the Mexican Hat, the silicified domains at the Hernandez Hill as well as other new targets. The Company will drill the Hernandez Hill target this month. Meanwhile, RC drilling continues at the Mexican Hat.
The Company's large-scale metallurgical test has finished the leaching phase and is in the washing phase where the cyanide levels are reduced to near zero levels. Once this is completed, it will be safe to dismantle and commence assaying the leached material to assess the efficiency of the leach. The gold recovered from the leach, and the residual gold remaining will be used to calculate the "reconciled head grade" of the column, to be used to determine the total percent of gold recovered. This final phase of the test is expected to take four weeks.
Dr. D.R. Webb, Ph.D., P.Geol., 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.