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GMV Minerals Inc. Files Drill Permit for Little Hat Gold Target
Vancouver, British Columbia--(Newsfile Corp. - May 26, 2020) - GMV Minerals Inc. (TSXV: GMV)...
About this update from Gmv Minerals Inc
[{"type":"text","content":"GMV Minerals Inc. Files Drill Permit for Little Hat Gold TargetVancouver, British Columbia--(Newsfile Corp. - May 26, 2020) - GMV Minerals Inc. (TSXV: GMV) (the \"Company\" or \"GMV\") is pleased to announce that it has filed for a drill permit to test the Little Hat Mountain for gold mineralization. It is the second highest topographic feature on the property after Mexican Hat (MH) Mountain and is underlain by the same suite of rocks.Currently, the Company is in the final stages of a new resource calculation incorporating the last eleven drill holes into the proposed Mexican hat pit design. Ten of the eleven holes intercepted gold bearing intervals above the Company's resource cut-off. More importantly, these new drilled areas were previously calculated as waste in the Company's initial PEA. Upon receipt of the new resource data, the Company will embark upon the development of a newly updated PEA which shall be further explained in an upcoming news release.The Mexican Hat Deposit, in part, occupies a strong magnetically depressed area underlying MH Mountain (750m x 260m) and is well defined by a suite of gold pathfinder elements in soils downslope from the deposit, including Au, Ag, Cu, As, Sb, Bi, Hg, S, Sr, Te, and Se. Some of these elements can be seen dispersed for kilometres into the valley. The Little Hat target is defined by a near surface magnetically depressed area (500m x 400m) and has a well-defined suite of gold pathfinder elements in soils downslope from the peak, or in annulus-shaped distribution downslope from near the peak. This includes all of the elements found in soils around the Mexican Hat deposit, and includes a more extensive distribution of Cu, Sr, at lower concentrations, and Te, and Bi at higher concentrations. To access the Mexican Hat and Little Hat soil geochemistry on topography with magnetic anomalies please click the following link: https://www.gmvminerals.com/projects/maps-sections/Table 1. Peak concentrations of gold pathfinder elements in soils.PathfinderMexican Hat SoilsppmLittle Hat SoilsppmBackgroundppmAu2.370.180.003Ag0.670.340.09Cu1898528As36.716.14Sb6.34.70.3Bi1.92.70.7Hg0.1280.0740.030S40040030Sr2928920Te0.210.290.07Se0.500.40Nd Nd = Not detected.It is believed that the low magnetic zones represent hydrothermally altered rocks favoring the destruction of magnetic iron-bearing miner...