GMV Minerals Inc. Completes Summer Expansion Drilling Program and Prepares to Incorporate its 2016- 2017 Drill Results into an Updated NI#43101
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GMV Minerals Inc. Completes Summer Expansion Drilling Program and Prepares to
Incorporate its 2016- 2017 Drill Results into an Updated NI#43101
VANCOUVER, BC, September 26, 2017 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is
pleased to announce that it has completed drilling on the extensions of the known mineralization previously
encountered at the Mexican Hat gold deposit in S.E. Arizona. The Company’s fourteen-hole RC program was
specifically designed to expand mineral resources to the south and to the east of the existing Mexican Hat gold
resource.
The drill program consisted of step-out drill holes to test along strike of the known 1200 striking mineralized H2
Zone. The Company directed the exploration to the southeast where the 2016 winter program encountered GMV
2016-11 which yielded 67.1 meters of 0.64 gpt/gold as part of a larger interval of 106.7 meters of 0.44 gpt/gold (350
feet). The H2 Zone, confirmed by drilling, is now 1.3 kilometers in length. A scissor hole was drilled to the east to
confirm the northeast dip of the H2 mineralization in the area where GMV 2016-11 (drilled to the west) recovered a
broad zone of mineralization. Two additional holes stepped out 50 m each to the south. The most common trend of
the Mexican Hat mineralization is 600 (+/-) which contains five zones confirmed with an additional four zones
indicated. A step-out of 150 meters to the east of all previous drilling was conducted by drilling six RC holes to a
depth of 300 meters which is 100 meters deeper than previous Mexican Hat exploration.
All drill holes encountered multiple intercepts of hematized and/or limonitized volcanic rocks that are typically
associated with gold mineralization. Samples were collected throughout the drilling program and were submitted to
Bureau Veritas labs together with certified standards and blanks. These results will be released as they are received
and the QA/QC work is confirmed.
The drill rig has now been moved 1.9 kilometers to the north of Mexican Hat to test a gold-bearing target identified
by Placer Dome (USA) (“Placer”) in a fence of 10 shallow RC holes drilled to determine the depth of overburden.
Placer had intersected significant gold mineralization in 3 contiguous holes, but did not drill below a depth of 87m.
These three holes are 150 meters apart and have now been twinned. Samples have been collected and submitted to
Bureau Veritas together with certified standards and blanks. These results will be disclosed once received.
The Company has completed additional soil sampling to extend coverage over its 4,800-acre package of mineral
tenures. The majority of the 547 samples were located north of Mexican Hat, to help define geochemical t rends in
areas where geophysical anomalies indicate potential Mexican Hat-style mineralization as well as potential porphyry
style mineralization.
Mr. Ian Klassen, President of GMV remarked “It is very encouraging to continue to intersect hematite-altered
volcanic rocks, typically associated with mineralization at Mexican Hat, well beyond the previous limits of
mineralization. We drilled across the strike of the 600 zone in five of our holes where we intersected multiple zones of
the alteration characteristic of mineralized zones. A further three holes focused on the 120 degree striking H2 Zone at
its current southeastern limits. One hole was designed to confirm the orientation of the zone and the final two were
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step-outs to the south. All intersected substantial altered volcanic rocks. Assays will determine to what extent these
holes, in addition to the 17 holes drilled in 2016, will contribute to expanding resources as we update our Mexican Hat
resource calculation later in 2017”.
In a more reconnaissance-style program, the drilling being completed to the north of the Mexican Hat will determine
the nature and extent of mineralization identified by Placer Dome (USA) in the past.
Arizona hosts significant copper gold mineralization associated with 40 to 80 million year old intrusions, including
deposits in the vicinity of Mexican Hat in the Gleeson-Courtland District and elsewhere. The Mexican Hat deposit
however is hosted in volcanic rocks considered to be much younger than this, and therefor would be situated on top
of the older porphyry copper mineralization. Determining what types of rocks are found north of Mexican Hat is
critical in determining what type of mineralization occurs in this area.
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.
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 define d 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 res ults 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.