GPM Metals to Drill Test Greenfield Pasco Zinc Project, Department of Pasco, Peru
June 22, 2017 07:00 ET
GPM Metals to Drill Test Greenfield Pasco Zinc
Project, Department of Pasco, Peru
TORONTO, ON--(Marketwired - June 22, 2017) - GPM Metals (TSX VENTURE: GPM) (the
"Company" or "GPM") is pleased to announce the startup of the initial, first pass drill program at the
Pasco Project located in the Central Peruvian Zinc Belt, approximately 30 Km NE of Cerro de Pasco
Mine and 35 Km N of the Votorantim / Pan American owned Shalipayco discovery.
Drill targets have been identified and drilling is to include a minimum of 2,000 meters of core diamond
drilling.
A drilling contract has been executed with Energold Drilling S.A.C. and the drill rig equipment and
crews will be mobilized to site; drilling operations are scheduled to commence during the first week of
July. A further press release will be issued concurrent with the confirmation of day 1 drilling operations
startup.
This drill program follows the recently completed ground magnetics survey of approximately 140 line
kilometers carried out by GC Ground S.A.C, Peru. The survey aided in the development of our 3D
model and targeting for the upcoming drill program.
The ground magnetics survey vectored into two delineated zones of a 4.25 Km by 1 Km trend of
anomalous Silver (20ppm - 152ppm), Lead (100ppm - 3.97%) and Zinc (1000ppm - 2.7%). The
southern anomaly measures 1.2 Km by 500m and open to the south and the northern anomaly is
500m by 500m.
Proposed diamond drill hole locations and results of ground magnetics survey are found on the
company's web site.
http://www.gpmmetals.ca/node/49
Drilling will target these two large, highly anomalous zones within a 4.25km by 500m trend. A north-
east trending glaciated valley separates the two zones.
These initial exploration targets have been identified by the Company's extensive 2015 and 2016 field
programs of trenching, mapping and approximately 2500 soil and rock chip samples and confirmed by
recently completed ground magnetics survey. Location and sampling results are available at the
Company web site link / Projects Peru http:www.gpmmetals.ca/node/49 (see April 14, 2016
Company press release available on SEDAR www.sedar.com). The grab samples disclosed are
selective samples and are not representative of the mineralization hosted on the Pasco Project.
The 2015 - 2016 mapping and sampling programs were designed to provide a methodical and
economic approach to prioritize drill targets with a high degree of confidence.
Patrick Sheridan, CEO of GPM stated, "The methodical approach undertaken by our Lima based staff to
the exploration mapping and sampling since 2014, the community relations aspects with the
commune of Huachon, and the regulatory permitting provides confidence that this initial drill program
will unlock the potential of this district scale, greenfields target."
The 100% owned Pasco Claims comprise a 6,300 hectares contiguous land package of a district scale,
greenfields, base metal discovery. These concessions have not been subjected to modern mineral
exploration or drilling prior to the staking and acquisition of the properties by our Company's Peruvian
agent in 2014.
The Pucara hosted style of Pb-Zn-Ag mineralization at surface displays similar geological
characteristics to the recently discovered zinc resource at Tinka Resources, Awawilca deposit, located
approximately 60 Km to the NW in the Department of Pasco.
Environmental permits are in place for 20 drill pad locations. Ten diamond drill holes are planned in
the initial program.
An exploration / access agreement has been signed with the commune of Huachon, and logistical
support, field assistants and supply chain operate from the commune. Huachon is located
approximately 1 hour by secondary road (Hwy 104) from National Hwy 3N.
About GPM Metals Inc.
GPM Metals is a zinc focused exploration company with offices in Toronto, Brisbane and Lima.
The Company's current holdings include the district scale Walker Gossan Project, NT, Australia, a joint
venture with Rio Tinto Exploration Pty Limited; and the Pasco Project, Department of Pasco, Peru.
Both projects are advanced exploration properties with drill ready targets and have considerable
potential to host significant zinc resources.
All scientific and technical information in this press release has been prepared under the supervision of
Dan Noone, (Vice President Exploration and a Director of GPM), a "qualified person" within the
meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the
Australian Institute of Mines and Metallurgy.
Forward-Looking Statements
This news release contains certain forward-looking information and statements within
the meaning of applicable securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "might", "will", "project", "should",
"believe", "plans", "intends" and similar expressions are intended to identify forward-
looking information and/or statements. Forward-looking statements and/or information
are based on a number of material factors, expectations and/or assumptions of GPM
which have been used to develop such statements and/or information but which may
prove to be incorrect. Although GPM believes that the expectations reflected in such
forward-looking statements and/or information are reasonable, undue reliance should
not be placed on forward-looking statements as GPM can give no assurance that such
expectations will prove to be correct. In addition to other factors and assumptions
which may be identified herein, assumptions have been made regarding, among other
things: results from planned exploration and drilling activities; GPM's future plans for
operational expenditures; the accuracy of the interpretations of exploration and drilling
activity results; availability of financing to fund current and future plans and
expenditures; the impact of increasing competition; the general stability of the
economic and political environment in which GPM has property interests; the general
continuance of current industry conditions; aboriginal matters; the timely receipt of any
required regulatory approvals; the ability of GPM to obtain qualified staff, equipment
and/or services in a timely and cost efficient manner; the ability of the operator of each
project in which GPM has property interests to operate in a safe, efficient and/or
effective manner and to fulfill its respective obligations and current plans; future
commodity prices; currency, exchange and/or interest rates; and the regulatory
framework regarding royalties, taxes and/or environmental matters in the jurisdictions
in which GPM has property interests. The forward-looking information and statements
included in this news release are not guarantees of future performance and should not
be unduly relied upon. Such information and/or statements, including the assumptions
made in respect thereof, involve known and unknown risks, uncertainties and other
factors that may cause actual results and/or events to differ materially from those
anticipated in such forward-looking information and/or statements including, without
limitation: risks associated with the uncertainty of exploration results and estimates,
currency fluctuations, the uncertainty of conducting operations under a foreign regime,
exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the
availability of labour and/or equipment, the fluctuating prices of commodities, the
availability of financing and GPM's dependence on its management personnel, other
participants in the property areas and/or certain other risks detailed from time-to-time
in GPM's public disclosure documents, (including, without limitation, those risks
identified in this news release and GPM's current management's discussion and
analysis). Furthermore, the forward-looking statements contained in this news release
are made as at the date of this news release and the Company does not undertake any
obligations to publicly update and/or revise any of the included forward-looking
statements, whether as a result of additional information, future events and/or
otherwise, except as may be required by applicable securities laws.
Neither the 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 and / or accuracy of this release.
CONTACT INFORMATION
For further information contact:
GPM Metals Inc.
Att: John Patrick Sheridan, CEO
Suite 301 - 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone : (416) 628-5904
Telefax : (416) 628-6835
Email: [email protected]