Connect with us

Hi, what are you looking for?

Trading Tips

GMV Minerals Receives Helicopter-Borne High Resolution Magnetic and Radiometric Survey Results —Multiple Priority Targets Identified at Its Daisy Creek Lithium Project

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the ‘Company’ or ‘GMV’) is pleased to announce that it has received the completed geophysical surveys from Precision GeoSurveys Inc. of Langley, British Columbia on its Daisy Creek project in Lander County, Nevada.

The survey was designed to outline the northern portion of the Daisy Creek caldera where Phillips Uranium’s historic drill results returned very impressive high-grade lithium values while testing uranium targets within the basin fill. GMV’s current survey included high-resolution radiometric and magnetic measurements across its entire claim package.

There are thirteen discrete magnetic anomalies identified within the Daisy Creek Basin, most of which have associated radiometric anomalies. These are interpreted to define in-basin and basin margin faults with focused hydrothermal activity. There are surface disturbances consistent with trenches and/or drill pads at some of these geophysical anomalies and are very likely where Phillips Uranium focused their efforts. The current claystone model in Nevada invokes a closed basin, often defined by a collapsed tertiary caldera. The high evaporation rates during this time increased the lithium concentration in the basin. This may be further increased in hydrothermal fluids influxes such that clays forming and settling over time fill the basin with elevated lithium concentrations. Associated elements include boron and may include uranium.

Ian Klassen, CEO remarked, ‘We are very pleased with the results of this survey. We know that high-grade lithium assays (up to 20,000 ppm Li) came from a uranium exploration program, and that the airborne survey was flown in a systematic low level grid pattern using 150 metre line spacing at a planned flight height of 40m has identified a number of these targets. The Company’s exploration team has recommended we initiate ground truthing of these geophysical anomalies and cross referencing with the evidence of surface disturbances prior to drilling. This is a meaningful next step that gets us closer to an upcoming drill program.’

Figure 1. Schematic cross section with exaggerated vertical scale showing interpreted geology in Daisy Basin with geophysical response.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5465/188980_653d6a26d41db8fb_002full.jpg

Figure 2. Plan view of GMV Minerals land holdings in the Daisy Basin, Lander County, Nevada showing proposed drill holes on geology with magnetic anomalies from the recent airborne survey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5465/188980_gmvimage3.jpg

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 4,800 hectares in Lander County, Nevada where it is exploring highly prospective claims for 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: info@gmvminerals.com
www.gmvminerals.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188980

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com
Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...