Business
GMV Minerals Inc. Options RHG Project
VANCOUVER, Sept. 29 /CNW/ - GMV Minerals Inc. (TSX.V: "GMV") ("the Company" or "GMV") has agreed ...
About this update from Gmv Minerals Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, Sept. 29 /CNW/ - GMV Minerals Inc. (TSX.V: "GMV") ("the\nCompany" or "GMV") has agreed to an option assignment for up to 75% of the RHG\ncopper-gold exploration project from Georgia Ventures Corp., ("Georgia") a\nprivate resource exploration company. Georgia had the option with Metalquest\nMinerals Inc. but is not committed to pursuing other exploration projects.\n\n\nThe 11,000 Hectare RHG project is located in the Stikine region, Liard\nMining Division, northwestern British Columbia. It is located approximately\n35km west of Telegraph Creek in the Liard mining division. The mine access\nroad to the former producing Muddy Lake gold property comes within 7km of the\nproperty's northern boundary.\n\n\nPrevious exploration on the property discovered both high grade copper\nand gold skarn as well as porphyry copper-gold type mineralization in 2\nseparate locations.\n\n\nIn 2005, 3D I.P. ground geophysical surveys resulted in high order\nchargeability anomalies over an area of 2500 metres by 750 meters covering a\nportion of one target. A coincident soil geochemical survey also showed\nelevated copper values throughout the grid area.\n\n\nGMV will test by drilling the priority copper-gold skarn showing as well\nas I.P. chargeability anomalies in late September. Additional drilling will be\nconsidered as results and weather permit as up to 17 drill locations have been\napproved by the British Columbia Ministry of Energy and Mines. Further\ninformation regarding drill target locations and anomalous zones will be\nprovided within a few days.\n\n\nUnder the terms of the agreement, GMV Minerals Inc. has an option to earn\nup to 65% of the RHG property subject to the following terms and conditions:\n\n\n-------------------------------------------------------------------------\nDate Shares Cash Payments Expenditures\n-------------------------------------------------------------------------\nOn signing Nil $25,000 (paid as Nil\n the Deposit)\n-------------------------------------------------------------------------\nWithin six months 250,000 Nil $300,000\n of the date of\n signing this\n Agreement\n-------------------------------------------------------------------------\nWithin 15 days Nil $25,000 Nil\n of the Approval (additional)\n Date\n------------------------------------------...