GMV Minerals (TSXV: GMV) announced this morning that is has planned an expansion drill program for its flagship Mexican Hat project located in Cochise County, Arizona. Upon the completion of permitting, two further drill programs are to take place on the property.
The targeted area for the expansion program consists of three separate areas that have been found to contain probable extensions of the main mineralized structure on the property. Eight drill holes totaling 3,050 metres have been planned for the program, with drilling to occur between 100 metres to 900 metres away from the main structure.
The current structure on the property has been delineated following the drilling of 124 holes on the property, of which 117 contained significant gold mineralization. The zone is presently open to the west of the deposit, with the western-most holes having intersected 0.66 g/t over 3.0 metres and 0.66 g/t gold over 6.1 metres. If successful, the planned program could increase the footprint of the deposit by up to 70%.
Drilling is also planned north of the current deposit, with the five largest drill assays having been found in this region, where mineralization has been as high as 37.6 g/t gold over 3.0 metres.
The company is currently awaiting drill permits for the property, after which the firm will commence its drill program.
GMV Minerals last traded at $0.28 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.