GMV Minerals Inc. Files Drill Permit FOR Little Hat GOLD Target
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GMV MINERALS INC. FILES DRILL PERMIT
FOR LITTLE HAT GOLD TARGET
VANCOUVER, BC, May 26, 2020– GMV Minerals Inc. (the “Company” or “GMV”) (TSX -V: 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.
Pathfinder Mexican Hat Soils
ppm
Little Hat Soils
ppm
Background
ppm
Au 2.37 0.18 0.003
Ag 0.67 0.34 0.09
Cu 189 85 28
As 36.7 16.1 4
Sb 6.3 4.7 0.3
Bi 1.9 2.7 0.7
Hg 0.128 0.074 0.030
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S 400 400 30
Sr 292 89 20
Te 0.21 0.29 0.07
Se 0.50 0.40 Nd
Nd = Not detected.
It is believed that the low magnetic zones represent hydrothermally altered rocks favoring the destruction of
magnetic iron-bearing minerals and the formation of hematite (non -magnetic), the key indicator of
mineralization at Mexican Hat. The abundance of gold pathfinder elements in the proximal soils further
supports this target.
A program to test this target will initially consist of four angled drill holes. The drill program will commence
as soon as permits are received and in observance of any restrictions related to the Covid-19 pandemic.
Mr. Ian Klassen, CEO commented, “ We have been planning to drill test the Littl e Hat for some time now .
This target has all the same markers as its larger cousin located a few hundred meters to the north. We feel this
is an excellent opportunity to extend the areas of known mineralization within our property holdings.”
Impact of COVID-19
GMV Minerals is carefully monitoring the public health impact of the coronavirus (COVID -19) on a daily
basis. Our first priority is the health and safety of our communities, shareholders, contractors, employees and
other stakeholders. The GMV team has been working clo sely to ensure all the correct protocols and safety
precautions are in place. Management continues to work remotely and they have kept in regular contact with
our stakeholders (who remain safe at home with their families), our investors and interested par ties. The
Company will continue to monitor the evolving COVID -19 situation and will continue to act proactively to
protect the health of its workforce.
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 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. The Company recently updated its inferred mineral
resource to 32,876,000 tonnes grading 0.616 g/t gold at a 0.2 g/t cut-off, containing 651,000 ounces of gold.
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.
- 3 -
Ian Klassen
Tel: (604) 899-0106
Email: [email protected]
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U. S.
NEWSWIRE SERVICES —
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.