VANCOUVER, BC, June 15, 2016 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX V: GMV) is pleased to announce that it has completed the field work pertaining to its previously announced bulk sample at the Company’s 100% owned Mexican Hat Property located in SE Arizona. The purpose of this program is to conduct an industry standard run of mine (ROM) test to assess the gold recoveries of this mineralization.
The Company’s previous metallurgical testing (see news released dated October 13, 2015) resulted in high recoveries. The recorded gold recoveries for the 20% of material greater than 1.5” (38 mm) plus in sample T3 was 94.6% gold recovery.
In early June, the Company mobilized heavy equipment and broke 22 tonnes of rock from mineralized latite at the Mexican Hat which had previously tested to range between 0.5 and 1.8 gpt gold, averaging close to 0.7 gpt gold. This material was bagged in 24 - 1 yd3 megabags, crated and palletized. Each megabag is estimated to contain approximately to 770 kg for a total estimated sample of 18.5 tonnes.
The sample was shipped by common carrier to Bureau Veritas Laboratories in Richmond, B.C. and arrived on June 13th where it was weighed and will be processed according to a protocol designed by consulting metallurgist John Fox of Laurion Inc. Initial bottle roll tests, assaying, and trace element analysis will be run in advance of a large-scale column leach designed to test ROM leach characteristics. Results from this work are anticipated in approximately four (4) months. Preliminary results will be received throughout the four-month period, however, these cannot be interpreted until the final calculated head grades are received after the leach test is concluded.
Recent additional exploration work also includes two 120 m +/- trenches testing along strike and between historic drilling by Santa Fe Gold Inc. and the resource established in the recent NI 43-101 report by Webb and Malahoff (2015). Assay results from this work are anticipated in three to four weeks.
Dr. D.R. Webb, B.A.Sc. (Engineering), M.Sc. Ph.D., P.Geo. is a qualified person within the meaning of NI #43-101. Dr. Webb has reviewed and is responsible for the technical details of this release.
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.
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 or has in any way passed upon the merits of the transaction and has neither approved nor disproved the contents of this press release.