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GMV Minerals Inc. Announces Drilling Update and Confirmation of Additional near Surface Drill Targets in Close Proximity to the Mexican Hat Gold Deposit
Vancouver, British Columbia--(Newsfile Corp. - July 4, 2019) - GMV Minerals Inc. (TSXV: GMV)...
About this update from Gmv Minerals Inc
[{"type":"text","content":"GMV Minerals Inc. Announces Drilling Update and Confirmation of Additional near Surface Drill Targets in Close Proximity to the Mexican Hat Gold DepositVancouver, British Columbia--(Newsfile Corp. - July 4, 2019) - GMV Minerals Inc. (TSXV: GMV) (the \"Company\" or \"GMV\") is pleased to announce that the Company has now completed seven holes of its current expansion drill program. Assay results will be released once they are received and verified. All 2019 drillholes have been either short step out or infill holes testing areas outside of the current resource but within or adjacent to the modeled open pit as outlined in the Company's Preliminary Economic Assessment filed in December 2018. Dr. D.R. Webb, Ph.D., P.Geo., P.Eng., Acting Project Manager, has confirmed that all drillholes to date have been completed to their target depths and significant alteration, including hematite, characteristic of much of the gold mineralization in this deposit has been encountered in the majority of the drill holes. The Company believes that by increasing the Mineral Resource within the pit model (as defined in the recent Preliminary Assessment) it adds both recoverable ounces while reducing the strip ratio. This continues to be the Company's main focus.As well, the Company recently commissioned Dr. Jules Lajoie, Consulting Geophysicist and former Chief Geophysicist for Teck Resources Limited, to review GMV's database of magnetic surveys. The specific focus of the geophysical interpretation has been directed towards the Little Hat magnetic anomaly which appears to be similar to that which underlies the Mexican Hat gold deposit (located 900 metres to the north of Little Hat). Both Little Hat and Mexican Hat areas are composed of Tertiary volcanic rocks, basalt to rhyolite. Dr. Lajoie's interpretation confirms that the magnetic anomaly appears to be relatively shallow (~200 m deep), consistent with previous findings. The Little Hat is an exciting target and may represent a promising additional mineralized zone that will be drill tested.Dr. Lajoie's further review of the geophysical data incorporating the gravity, audio magnetotelluric and magnetic surveys has identified three additional target areas with some similarities to the geophysical responses observed over the Mexican Hat deposit. These include a conductive zone extending southward from d...