VANCOUVER, April 7 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) is pleased to announce that it
has commenced mobilization for its initial diamond drill program which
is expected to start within the next two weeks. Both of the Company's
drills have been delivered to Guyana. The first drill (including
supplies) is enroute and is expected to arrive at the drill site by mid
next week (delayed due to road conditions affected by unseasonably
heavy rains). The second drill has been released from Customs and is
now also enroute.
The drill program will test the first target called the ZEV showing. The
initial program will consist of 25 vertical holes each to a depth of
250 -300 metres intersecting a very strong well defined geophysical
anomaly which has a sharply defined northern boundary. The ZEV showing
will be drilled along an east-west axis on approximately 200-metre hole
spacing. The north-south axis will be drilled on 100 metre hole spacing
which will extend well into the surrounding rock units. The first holes
will be centered on the strongest anomalous showings and follow up
holes will infill the pattern necessary to delineate the structure into
the adjacent altered zone on the north and south sides.
The drill core will be logged, photographed and cut on site. The core
will be stored in locked 20-foot containers. The samples will then be
sent out in locked containers using tamper proof sealing and
accompanied by GMV staff to Acme Labs in Georgetown, Guyana. There
will also be a series of duplicates and blanks submitted. Acme Labs
will crush, sieve, metallic screen and send a 150-gram sample to their
head assay lab while providing GMV with the rejects and a 100-gram
pulp. GMV will use its Niton XRF Analyzer on the 100-gram pulp sample
to immediately test for anomalous values. Drill core assays are
estimated to have a 3-4 week turn around time depending on lab
The 3D pole-dipole Mag/ IP /Resistivity survey is continuing on
schedule. The previously announced identification of an anomaly with
high magnetic intensity, low resistivity and high chargeability has
been further extended by an additional 300 metres westward and remains
open. This large anomaly is now 300-400 metres wide by 1.4 km long,
comprised of a chargeability high and an 800-metre resistivity
coincident low. The geophysical anomaly trends east-west and is
interpreted to lay approximately 120-150 metres below surface,
extending to depth of over 300 metres. Production speed of the
geophysical survey has increased with experience in the area.
Currently, there is approximately 50 line km which has been cut in
advance of the survey crew.
GMV's ongoing airborne magnetic and gamma-ray spectrometry survey is now
70% complete on its major Guyana properties with over 23,500
line-kilometres of data collected on all of the five planned survey
blocks. The Aurora Back, Puruni-Mara, Oko and Waini River blocks are
complete and data is currently being compiled and interpreted. Survey
operations are now underway on the Five Stars-Matthews Ridge block.
This block is being flown last due to the distance from the Georgetown
base however airborne operations have recently been hindered due to
unseasonably heavy rain. The onset of the traditional dry season has
been delayed but generally the weather has dried significantly in the
Georgetown area and this trend is expected to continue inland.
Ground crews have now collected well over 200 augered geochemical
samples near the geophysical stations. The samples were been taken
every 50 metres on 100 metre spaced lines. The samples were taken at a
depth of approximately 1 meter with each sample weighing greater than 1
kilo in order to provide material for re-sampling and duplicates. The
samples are being assayed for gold and ICP multi element analysis.
Each sample was collected up slope and well away from the geophysical
pot location with ground conditions, texture, color, nodules and other
information recorded. All samples have been submitted to Acme Labs and
the Company is presently waiting for assay results.
The drill camp is situated within 500 metres of the centre of the ZEV
target. This area has had extensive high grade alluvial mining with
most of the valley bottoms worked in the last few years leaving only
tailings and gravel with no forest cover. There are many minor roads
in the area used for logging and testing for alluvial gold and the main
access road for the entire area crosses the target. The camp has been
expanded and is built in the local style as well as containing separate
air conditioned Weatherhaven structures for the drilling crews now
arriving on site. Presently the camp has approximately 50 workers and
can suitably accommodate about 20 - 30 more.
Lastly, the Company announces that two re-fitted model MJ 4 x 4 Bedford
heavy duty transport trucks (both with winches and one with crane) have
now arrived in country and are in transit to the drill camp. A larger
6 x 6 TM Bedford truck with winch and crane capable of self-loading 20
foot shipping containers is on order.
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$7.6M 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