GMV Minerals Inc. is a junior gold development company focused on the Mexican Hat project, located in southeast Arizona (100% interest). The Mexican Hat property, one of the most promising gold development opportunities in the western USA, is an epithermal gold deposit extensively explored by Placer Dome (USA) in the early 1990’s. Mexican Hat contains an Inferred Mineral Resource of 688,000 ounces of gold (36,733,000 tonnes grading 0.58 g/t Au). Mineralization is open in all directions and at depth.
- Initial inferred resource of 688,000 ounces of open pittable oxide gold
- 100% interest in Mexican Hat Gold Property located in mining-friendly Arizona
- Open pit scenario suited to a low cost heap leach operation
- Mineralization open in all directions and at depth – metallurgical results show impressive gold recoveries
Preliminary Economic Assessment Highlights (November 2020)
- Current mine life of 10-years with a 1-year pre-production period – OPEN TO EXPANSION
- Life of mine (LOM) head grade of 0.58 g/t gold
- Low LOM Strip Ratio of 1.87
- Average Annual Gold Production of 52,250 ounces
- Base case: $1600/gold
- Pre tax IRR—39.4% Payback —2.8 years
- Pre tax NPV (-5% discounted): $153 million
- Capex: $67M (including $12m contingency)
- AISC: $1035/oz of gold recovered
** The base case assumes a gold price of US$1,600 per ounce (oz). All figures are stated in U.S. Dollars ($). All tonnages are metric tonnes. Precious metal grades are in grams per metric tonne (g/t).