GMV Minerals Completes First Half Of Ongoing Drill Program

GMV Minerals (TSXV: GMV) this morning provided the market with an update on its ongoing drill program at its flagship Mexican Hat project in Arizona. The company has completed the initial portion of the program, and has now moved the drill to a secondary location to test a magnetic anomaly.

The magnetic anomaly, located to the north of the established resource, is believed to be an extension of the current mineralization known on the property. The anomaly is believed to be the principal controlling structure in the region, with drilling focusing on strong geophysical responses, after having tested magnetic lows.

A total of four holes have already been drilled while testing this principal controlling structure, with the holes totaling 1,262 metres in aggregate. Three of the four holes ended in strongly fractured volcanic rock at depths where the structure was expected to be intersected, with holes forced to be abandoned before reaching the planned depth. The fourth hole however was drilled to the desired depth.

In terms of assays, results from the first hole have been received, however the firm requested a rerun due to inconsistencies found within the samples. A second hole was also received, with anomalous gold values.

The currently ongoing drill program is for a planned 3,000 metres, with the firm looking to drill a total of eight holes in hopes of expanding the current resource on the property.

GMV Minerals last traded at $0.31 on the TSX Venture.


FULL DISCLOSURE: GMV Minerals is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover GMV Minerals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Silver @ $36 & We’re Still 200M Oz Short | Paul Andre Huet – Americas Gold and Silver

Gold’s Wild Bull Run: Are Markets About to Break? | Mike McGlone

First Majestic Silver: The Santa Elena Mine

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Infrastructure: The Hidden Value in Mining Projects with Mathew Wilson of Sterling Metals and EarthLabs

In this interview at the Precious Metals Summit 2024, Mathew Wilson, CIO of EarthLabs Inc....
Tuesday, September 17, 2024, 03:19:00 PM

QMX Gold Drills 1.48 G/T Gold Over 1,109.6 Meters At Val d’Or Deposit

QMX Gold Corp (TSXV: QMX) released further drilling results from its Bonnefond Deposit, located in...

Tuesday, August 18, 2020, 09:52:55 AM

Lundin Mining Slashes Candelaria Production Guidance

Lundin Mining Corporation (TSX: LUN) this morning reported that production guidance for 2021 at its...

Monday, June 21, 2021, 07:46:27 AM

Labrador Gold Drills 20.60 G/T Gold Over 3.6 Metres At Kingsway

Labrador Gold Corp. (TSXV: LAB) announced today the first intercepts of near-surface gold assays from...

Thursday, June 3, 2021, 09:21:00 AM

Goldman Sachs Forecasts 12-Month Gold Price to Reach $2,000

Goldman Sachs has revised its gold forecast as of Friday, predicting prices to increase to...

Saturday, June 20, 2020, 12:48:00 PM