GMV Minerals Inc. (TSXV:GMV) (OTCQB:GMVMF) has announced a significant update for its Mexican Hat gold project in SE Arizona. The preliminary economic assessment (PEA) reports 36.7 million tonnes grading 0.58 gpt gold, totaling 688,000 ounces of inferred mineral resource. The company plans to extract 32.6 million tonnes, recovering 525,000 ounces of gold over a 10-year mine life. This low capital cost operation, at US$67.8 million, includes US$12 million in contingency and US$13 million in sustaining capital. Heap leach testing has shown an exceptional recovery of 88% of the gold.

The company is continuing developmental drilling, focusing on refining the internal boundaries of the mineralization through a diamond drill program. This program will twin approximately thirty-five shallow holes drilled by past operators. The results could upgrade the mineral resource classification, provide geotechnical data to optimize pit slope, and confirm hydrogeological properties.

Additionally, the company has received approval for its Notice of Intent for the Daisy Creek Project in Lander County, Nevada. The Bureau of Land Management has confirmed that the proposed operation can proceed to the drill phase. The project will test for prospective lithium claystone mineralization, following historical discoveries of high-grade lithium. An initial six-hole drill program has been established, based on recent sampling and historical data.

About GMV Minerals Inc.

GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. Through its subsidiary, it holds a 100% interest in the Mexican Hat Property in Cochise County, Arizona. Initially explored by Placer Dome in the late 1980s to early 1990s, GMV aims to fully realize the property’s mineral potential.

Daisy Creek Project

The Daisy Creek project in Lander County, Nevada, covers 165 lode claims over 3,408 acres. The upcoming drill program will test the property’s lithium potential, building on past uranium exploration that unexpectedly revealed high-grade lithium.

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