GMV Minerals Inc.’S Recent Land Expansion Encompasses Partially Drill-Tested Porphyry with District-Scale Significance
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GMV MINERALS INC.’S RECENT LAND EXPANSION ENCOMPASSES
PARTIALLY DRILL-TESTED PORPHYRY WITH DISTRICT-SCALE SIGNIFICANCE
VANCOUVER, BC, January 17, 2017 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V:GMV) is pleased
to announce that, after an extensive review of historical geophysics, drill data and recent fieldwork, it has filed to acquire
numerous additional exploration permits which encompass a porphyry target adjoining the Mexican Hat deposit to the
north. The porphyry forms part of an 800m by 1600m elliptical domain of consistent yet elevated magnetics and is open
to the northwest. The target is surrounded by an up to 800m wide “noisy” zone of concentric magnetic highs and lows
referred to as the Epithermal Zone. The broad Epithermal Zone encompasses the Hernandez Hill discovery. No other
outcrop exposure exists north of the Hernandez Hill Zone.
The Company believes that the geophysical evidence of a porphyry and related epi thermal mineralization identifies a
new and exciting target that may hold district-scale significance. In 1990, (pre-dating the current geophysical results)
Placer Dome (USA) drilled an east -west line of ten vertical RC holes, 2.3 km north of the Mexican Hat deposit, each
spaced 150 m apart to test the depth of cover as part of a program to maintain its Arizona State Exploration
License. Reporting on the drill program does not include drill logs but does include results from several five foot samples
from each hole. This area, north of the Mexican Hat deposit is a relatively flat featureless area covered by alluvium
(sands and gravels).
Two adjacent holes in the Epithermal Zone intersected economically significant go ld mineralization in every
1.52m (five foot) sample collected . In MH90 -161, seven samples co llected between 13.7 m and 54.9 m assayed
between 0.20 gpt and 1.51 gpt, averaging 0.64 gpt gold. The adjacent hole, MH90-162 located 150 m to the east had
six samples collected between 13.7m and 54.9m that assayed between 0.27 gpt and 0.89 gpt, averaging 0.53 gpt gold. A
third hole located 150m farther east intersected anomalous but low gold values. All drill holes within the Epithermal
Zone intersected elevated gold pathfinder elements (Hg, As, Sb, Ag) . The fence of holes crossed what the Company
now recognizes as the eastern portion of a porphyry and the Epithermal Zone.
Ian Klassen, GMV Minerals’ CEO commented “We’ve long suspected Mexican Hat derived from a larger mineralized
system but didn’t know if it was detached from it or the rest of the system perhaps eroded away. Recent discoveries by
GMV’s technical team at Hernandez Hill include large areas of silica flooding with pathfinder elements indicating the
top of an epithermal system. That was another piece of the puzzle. This new discovery of an intrusive body and nearby
epithermal gold mineralization in the northern flats completes the picture with the first direct evidence of the heat
engine that may have driven the entire system. This opens up a target area an order of magnitude larger than the existing
Mexican Hat resource area. We’re very excited to now be exploring this larger area, seeking larger discoveries in addition
to expanding the known resource.”
In 2011, Geotronics Consulting Inc. completed a ground geophysical survey consisting of magnetics and VLF EM over
the entire property. In this report, David G. Mark (2011) recognized that the “donut-shaped” magnetic highs in this
area “is probably reflecting an intrusion”, and noted that “ epithermal gold deposits, such as that of the Mexican Hat,
often occur around porphyry copper deposits”.
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The recent geochemical program (2016) that led to the discovery of the Hernandez Hill epithermal system (silicification,
volatile gold pathfinder elements (Hg, Sb, As, Tl, Ag) is now linked to the gold zone drilled by Placer Dome (USA)
(1990) and the large geophysical target characteristic of a shallow porphyry system (2011). This provides for over 4
square km of target area identified by the historic magnetic data (the 800m wide magnetically noisy zone with historic
gold intercepts, silicification and pathfinder geochemistry), plus extensions now covered by the new exploration permits.
An expanded program of geophysical and geochemical surveying is underway to assist in targeting drilling , which is
currently being permitted.
In addition, GMV is pleased to announce that it has shipped 761 rock, core and RC drill samples and 919 soil samples
to the assay lab (Bureau Veritas Commodities Canada Ltd.), in the current Mexican Hat exploration program and has
shipped an additional 183 RC samples within the last week. The Company has received all of the core samples from
the resampling program on the balance of a previous operator’s 2011 drill holes and is in the process of compiling this
data for release as soon as the QA/QC is completed. The Company anticipates receiving initial results from its current
RC drill program in approximately 14 days and then continuing over the next few months.
** Disclaimer: The Place Dome (USA) results are historic in nature and pre-date NI 43-101 compliance. No records
exist on any QA/QC program and thus the results cannot be validated. They are believed to be valid, but are only being
presented in support of the exploration program being conducted. They are not to be used for any resource or reserve
estimation.
Dr. D.R. Webb, Ph.D., P.Geol., 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 conta ins an inferred
mineral resource of 23,452,000 tonnes grading 0.70 grams of gold per tonne hosting 531,400 troy ounces of gold. 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 differ 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.