GMV Minerals Inc. Completes Initial Drilling at Daisy Creek Project in Lander County, Nevada

Rhea-AI Summary

GMV Minerals Inc. has completed its initial drill program on the Daisy Project in Lander County, Nevada. The company drilled five targets with 643m of RC and tricone drilling, intercepting various claystone horizons and claystone with felsic ash to lapilli tuffs. Abundant alteration was noted in some drill holes with both oxidized and sulphide-bearing horizons observed.

A total of 221 samples have been submitted to ALS Global for analysis, including 10 Certified Reference Standards. Results will be released once received and checked. No lost time accidents occurred, and all disturbed sites were graded and reseeded.

GMV Minerals is focused on developing precious metal assets in Arizona and Nevada. The company has a 100% interest in the Mexican Hat Property in Arizona, with an NI 43-101 inferred resource estimate of 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.

Positive

• Completed initial drill program on the Daisy Project in Nevada
• Intercepted various claystone horizons and felsic ash to lapilli tuffs
• Observed abundant alteration and sulphide-bearing horizons in some drill holes
• Submitted 221 samples for analysis, including 10 Certified Reference Standards
• No lost time accidents occurred during drilling operations

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 26, 2024 / GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that, pursuant to its news release dated September 10^th, 2024, it has completed its initial drill program on the Daisy Project, located in Lander County, Nevada.

The Company drilled five targets with 643m (2109 feet) of RC and tricone drilling. All holes intercepted various claystone horizons and claystone with felsic ash to lapilli tuffs with a distinctive trend towards more abundant claystone in the central portions of the caldera. Abundant alteration was noted in some drill holes with both oxidized and sulphide-bearing horizons observed.

A total of 221 samples have been submitted to ALS Global for analysis in Elko Nevada, including 10 Certified Reference Standards. The results will be released once they have been received and checked. No lost time accidents occurred, and all disturbed sites were graded and reseeded with the recommended seed mix.

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 Property, located in Cochise County, Arizona, USA. 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. The Company's NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold. In 2023, GMV acquired a total of 165 lode claims covering 3,408 acres in Lander County, Nevada where it is exploring highly prospective claims for uranium & lithium.

ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President

For further information please contact:

GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: Klassen@gmvminerals.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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.

SOURCE: GMV Minerals, Inc.

View the original press release on accesswire.com

FAQ

What were the results of GMV Minerals' (GMVMF) initial drilling at the Daisy Creek Project?

GMV Minerals completed drilling of five targets with 643m of RC and tricone drilling. The company intercepted various claystone horizons and claystone with felsic ash to lapilli tuffs. Abundant alteration was noted in some drill holes with both oxidized and sulphide-bearing horizons observed. However, the specific analytical results are pending and will be released once received and checked.

How many samples did GMV Minerals (GMVMF) submit for analysis from the Daisy Creek Project?

GMV Minerals submitted a total of 221 samples to ALS Global for analysis in Elko, Nevada. This includes 10 Certified Reference Standards.

What is the current resource estimate for GMV Minerals' (GMVMF) Mexican Hat Property?

GMV Minerals' NI 43-101 resource estimate for the Mexican Hat Property is an inferred resource of 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.

When did GMV Minerals (GMVMF) acquire claims in Lander County, Nevada?

According to the press release, GMV Minerals acquired a total of 165 lode claims covering 3,408 acres in Lander County, Nevada in 2023. These claims are being explored for uranium and lithium potential.