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GMV Minerals Inc. Discovers and Intends to Drill a New Epithermal Target on Its Arizona Gold Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2016) - GMV Minerals Inc. (the "Company" or "GMV") (TSX VENTURE:GMV) is pleased to announce that it has disc
About this update from Gmv Minerals Inc
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2016) - GMV Minerals Inc. (the \"Company\" or \"GMV\") (TSX VENTURE:GMV) is pleased to announce that it has discovered new drill targets within the central portion of its Arizona property. A new target, known as the Hernandez Hill, is located approximately 500 meters northeast of the existing Mexican Hat gold resource and is defined by geology and soil geochemistry. Currently, GMV is conducting a fourteen hole drill program to expand the known inferred mineral resource of 23,452,000 tonnes hosting 531,400 troy ounces of gold. Based on soil geochemistry and recent mapping, it is believed that the Hernandez Hill target may be the top of an epithermal precious metal deposit. The distribution of anomalous pathfinder elements is characteristic of the upper levels of gold and silver bearing epithermal systems that are common in the Basin and Range of the southwestern US. This is a new deposit style at Mexican Hat and represents a strong and compelling drill target. Drill permits for the Hernandez Hill area have now been submitted. The Company is excited about this new discovery, and intends to drill the target in January 2017 using a diamond drill rig. This target has been identified as a result of a comprehensive soil geochemistry sampling survey designed to test areas covered with quaternary sand deposits outboard from Mexican Hat hill, all of which have some component of colluvial and alluvial material. In general, the eastern margins of the Mexican Hat deposit are well defined, with fluvial and alluvial dispersion of most elements persisting for kilometers to the limits of the survey to the east. An unexpected and coincident mercury, antimony, and arsenic anomaly with anomalous gold values was identified at the northeastern portion of our survey. The anomalous area contains two topographic highs that constrain the derivation of these soils and which include areas of outcrop exposure, which is otherwise rare away from Mexican Hat hill itself. The topographic highs are underlain by a well fractured andesite that is silicified with chalcedony and opaline quartz. The andesite is overlain by a fiamme-bearing rhyolite ash tuff that is micro-fractured and silicified. Carbonate, which is ubiquitous at Mexican Hat is noticeably rare within this silicified zone. Overall, the silicified roc...