Vancouver, British Columbia–(Newsfile Corp. – April 26, 2018) – GMV Minerals Inc. (TSXV: GMV) (the “Company” or “GMV”) announces that its two independent co-authors, engaged to update the Company’s mineral resource estimate, will require 2-3 weeks of additional time to complete and submit their report. Dr. D.R. Webb, Ph.D., P.Geo., P.Eng., the Company’s Acting Project Manager and Tetra Tech Inc. expect to complete their work by mid May with the final NI#43-101 report to be filed within 45 days of any release of its updated resource calculation.
Over the course of the past few months, the co-authors have analyzed and examined a variety of solids models at the Company’s Mexican Hat gold deposit, identifying previously unrecognized trends. The authors have agreed upon an approach that best serves to model the Mexican Hat deposit.
The property is a low sulphidation, epithermal gold system with good size potential, access and metallurgy. The property lies within the south-eastern portion of the Basin and Range Province. Mineralization is structurally controlled by fault-fracture (joint) zones and related breccias as well as specific lithotypes commonly encountered in alkaline volcanic rocks. Gold has manifest itself in the free form within fractures that are typically intensely hematite altered. Hematized fractures have been found in all rock types found on the property (Webb, 2015 NI#43-101 Report).
While the Company had expected its independent report much sooner, it is pleased to report that both parties are well on their way to completing it.
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
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GMV Minerals Inc.
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.