GMV Completes 2017 Field Program, Doubles Surface Area of Mineralization (15.5 Ha to 34.1 Ha) & Significantly Increases Depth. --- GMV Engages Tetra Tech to Complete Updated Resource Estimate
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GMV COMPLETES 2017 FIELD PROGRAM, DOUBLES SURFACE AREA OF MINERALIZATION
(15.5 HA to 34.1 HA) & SIGNIFICANTLY INCREASES DEPTH. --- GMV ENGAGES TETRA TECH TO
COMPLETE UPDATED RESOURCE ESTIMATE
VANCOUVER, BC, November 22, 2017 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is
pleased to announce that the Winter 2016 and the Summer 2017 step out drill programs conducted on the Mexican
Hat gold property have concluded with 23 of 28 drill holes encountering gold mineralization above the previously
established 0.2 gpt cut-off that had been used for inclusion into a Mineral Resource.
This year’s exploration has discovered new zones to the north and to the east of the previous reported NI 43-101
Mineral Resource, adding 18.6 Hectares to the surface extent of the mineralization. Please see the attached link:
https://www.gmvminerals.com/site/assets/files/1393/2017-gmv-mexican-hat-mineralization-expansion.jpg
Tetra Tech Inc. Completes Audit of 2015 Resource Estimate & Is Engaged to Co-Author New Resource
At the recommendation of Dr. D.R. Webb, Ph.D., P.Geo., P.Eng., the Company’s Acting Project Manager, GMV has
engaged Tetra Tech Inc. to co-author GMV’s new resource estimate calculation and updated NI 43-101. Tetra Tech
provides a full range of mining services to the natural resource extraction industry, with 16,000 employees and a global
presence. GMV is confident that the investing community will recognize the Company’s commitment to the highest
standards of engineering and science through this engagement.
The Company looks forward with positive anticipation as these drill intercepts and assays are incorporated into its
upcoming revised NI 43-101 resource. In keeping with GMV’s management policy to double check data wherever
financially prudent, earlier this year Dr. Webb (QP) engaged Tetra Tech to audit methods, procedures and findings in
conjunction with GMV’s 2015 NI 43-101 filing on its Mexican Hat Resource. The audit has now been completed, the
methodology was reaffirmed, and a number of minor recommendations to improve the resource outcomes were
proposed.
Metallurgy
Metallurgical testing since 2016 has shown materially better gold recoveries than had been used in the previous
resource calculation. The introduction of the potential for run of mine (ROM) processing could mean a significant
reduction in processing costs. “Mr. John Fox, P. Eng., the Company’s metallurgist previously reported in reference to
testing completed in 2017, “these results together with more comprehensive bottle roll testing have confirmed that no
significant differences or issues exist from all known mineralized rock -types from the property. This demonstrates
substantial potential for a low-cost ROM or ROM plus screening and single stage crush operation for the property.
The results are materially better than average results for ROM testing, when compared to currently operating open pit
heap leach operations in the world, thus confirming that this low-cost recovery method presents a viable option for
the gold recovery of the deposit’s lower-grade material.”
Ian Klassen, GMV’s President commented, “Even with an exceptionally aggressive drill step-out pattern the Mexican
Hat deposit remains open to the North, South and East, as well as to depth. Management believes that the previously
calculated strip ratio of 1.5 to 1, used to establish cut-off grades for resource purposes could be improved with the
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inclusion of work completed over the past year. The next few months will provide the data and guidance for the 2018
exploration plan. 2017 has been a very productive year for the Mexican Hat Resource. We certainly look forward to
the updated NI 43-101”.
Shortly, the Company expects to receive results on three holes completed on a new gold zone, first identified by
Placer Dome (USA), located 2 km north of the Mexican Hat Mineral Resource. Once received, the Company will
announce the results.
Dr. D.R. Webb, Ph.D., P.Geo., 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.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona.
GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as
the Mexican Hat project, located in Cochise County, Arizona, USA. The Mexican Hat property contains an Inferred
Mineral Resource of 23,452,000 tonnes grading 0.70 grams of gold per tonne hosting 531,400 troy ounces of gold
(Webb, D.R., 2015, on SEDAR). The project was initially explored by Placer Dome (USA) in the late 1980's to early
1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near
term gold production.
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Ian Klassen, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: [email protected]
This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future
events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to di ffer materially
from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements
except as may be required by law.