VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 11, 2017) - GMV Minerals Inc. (the "Company" or "GMV") (TSX VENTURE:GMV) is pleased to announce that, in addition to its two recently acquired exploration permits (NR issued December 14, 2016), the Company has now acquired a 100% interest in another four new exploration permits at the Arizona State Land Department (ASLD). These permits further extend the north and northwest boundaries of its Mexican Hat gold exploration project located in S.E. Arizona. The Company has now increased its land position by approximately 2,573 acres within the last month.
GMV has acquired a 100% interest in the following:
1. Permit Application No. 08-119128 (480ac in Section 28, T18S, R25E);
2. Permit Application No. 08-119129 (400ac in Section 29, T18S, R25E);
3. Permit Application No. 08-119130 (640ac in Section 32, T18S, R25E); and
4. Permit Application No. 08-119131 (52.56ac in Section 5, T19S, R25E);
The Company also confirms that the field portion of the previously announced AMT geophysical surveys have been completed. As originally designed, these covered the Mexican Hat, the Hernandez Hill and the southern portion of a larger epithermal target area. The results have identified resistivity anomalies coincident with the mineralized domains at the Mexican Hat, the silicified domains at the Hernandez Hill as well as other new targets. The Company will drill the Hernandez Hill target this month. Meanwhile, RC drilling continues at the Mexican Hat.
The Company's large-scale metallurgical test has finished the leaching phase and is in the washing phase where the cyanide levels are reduced to near zero levels. Once this is completed, it will be safe to dismantle and commence assaying the leached material to assess the efficiency of the leach. The gold recovered from the leach, and the residual gold remaining will be used to calculate the "reconciled head grade" of the column, to be used to determine the total percent of gold recovered. This final phase of the test is expected to take four weeks.
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 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 1980s to early 1990s. 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.
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.