VANCOUVER, June 16, 2011 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) is pleased to announce that it
now has two drills turning on its initial gold target in Guyana, South
The initial drill program consists of 25 vertical holes each to a depth
of 200-300 metres intersecting a very strong well defined geophysical
anomaly which has a sharply defined northern boundary. The ZEV showing
is initially being drilled along an east-west axis on approximately 400
metre hole spacing. The north - south axis will be drilled on 200 +
metre hole spacing which will extend well into the surrounding rock
units. The first holes are centered on the strongest anomalous showings
and the follow up holes infill the pattern necessary to delineate the
structure into the adjacent altered zone on the north and south sides.
The core is logged and cut on site and is shipped to the Acme assay
prep lab in Georgetown and then forwarded for processing at Acme Labs.
The first assay results are expected mid to late July depending on the
The 2011 3D IP geophysical survey has reached 138 km and ground crews
are preparing to extend the survey to include a newly identified area
of geological interest. Ground geophysics has extended the ZEV anomaly
(that is being tested by drilling with nearly 49 line km more
completed) for a total of 138 line km of 3D IP. The ZEV anomaly has
been extended east and west and has been more fully defined with more
drilling targets. There are two distinct anomalies thus far - the
first and main anomaly is arch shaped and has a width ranging from
200-300 m and spans approximately 3 km. A second intersecting
anomalous feature is 200-300 meters wide and extends 800 meters. The
IP crew will continue operations on other areas of interest while this
area is being drill tested. Preparations are underway to examine, via
a 3D pole-pole IP survey, a second anomalous area identified by the
airborne survey located to the south west of the present survey. This
area is also in a known gold producing area bordering the Puruni River,
which is one of the most productive alluvial gold rivers in
Guyana. The testing will be centered over a north-east trending
structure indicative of a structural shear off the contact with main
rock units. This camp is presently under construction with lines being
cut shortly thereafter.
The fixed wing airborne magnetic and gamma-ray spectrometry survey is
now complete with a 33,692 line km survey accepted and final lines
being tabulated. All data is currently being interpreted and refined
results are expected over the next three to five weeks. This survey
constitutes the largest non government airborne survey ever conducted
in Guyana. The processing of the gamma-ray spectrometry and the
derived radioelement ratios is underway. The Puruni area spectrometry
data will be processed first with results expected by the first week of
Geochemical samples taken on the ground geophysical survey sites are
being sent in for assay. These samples provide a framework to identify
the rock units and alteration as well as the mineralization potential
of the area. Some assays have been received and are being plotted and
used to define the mineralization. More samples are due to be
delivered to the lab at the end of the week with ICP analysis expected
in 3-4 weeks.
This news release has been reviewed and approved by Christopher (Kit)
Campbell, P. Geo., a Qualified Person under NI 43-101.
About GMV Minerals Inc.
GMV Minerals Inc. is a junior exploration company focused on the
discovery of gold assets in Guyana, South America where it holds
mineral rights to nearly 1000 sq. miles. The Company currently has
approximately C$7.0M in treasury and is conducting a variety of
advanced exploration programs during 2011.
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 or
has in any way passed upon the merits of the transaction and has
neither approved nor disproved the contents of this press release.
SOURCE GMV Minerals Inc.
For further information:
GMV Minerals Inc.
Tel: (604) 899-0106