VANCOUVER, Nov. 27, 2012 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSXV: GMV) is pleased to announce that it has successfully completed its Trado drill (a small portable gas powered mechanical auger that can test soil and weathered rock to depth) program on a geochemical gold anomaly located on its A-16 Prospecting License ("PL"). The A-16 PL lies adjacent to and directly south of Guyana Goldfields Inc.'s Aurora deposit. Moreover, additional in-fill hand auger sampling has now further defined a second gold anomaly on the PL.
The Company has received results from 42 Trado holes drilled on a grid (the "Trado grid") over the highest priority target as defined by the original hand auger grid-sampling program described in the Company's Oct. 18 press release. The anomaly is located in the southeast sector of a larger encompassing regional gold anomaly measuring 2.6 kms long by 0.6 km wide. Samples are considered to be anomalous if the gold value exceeds the detection limit of 0.005 ppm Au as determined by 30-gram fire assay analysis. The majority of the Trado holes (36) were drilled to a depth of 7 metres with the remaining holes completed to a depth of 3-6 metres depending on ground conditions and water table. Within Trado holes, samples were collected on one metre intervals to the bottom of the hole. The recent Trado program was designed to test the anomaly at depth to provide a more reliable sample reflecting bedrock potential and reduce sampling inaccuracies due to alluvial gold and surficial weathering influences.
Within the Trado grid, holes considered to be anomalous contained gold values which extended continuously or near continuously to the bottom of the hole at 7 metres, indicative of a fine-grained, non-alluvial bedrock source for the gold. All Trado samples (118 total) averaged 0.0124 ppm Au. Further bedrock source potential is indicated by anomalous Trado results within the grid which are aligned northwest-southeast, reflecting the regional structural control to gold mineralization. Results of the Trado sampling indicate that the gold geochemical trend is open to the northwest and southeast. Samples with individual values up to ten times higher (up to 0.16 ppm Au) than the Trado sample average were considered to be due to nugget effect, not reflective of bedrock.
In the northwest target, close-spaced, hand auger, in-fill sampling (where possible as dense as 25 meter by 25 meters) has further delineated gold anomalies within the greater regional anomaly, delineated by samples collected at 50-metre intervals on east-west lines spaced 100-metres apart. The majority of the in-fill samples (83%) received in the northwest returned anomalous gold values, averaging 0.0244 ppm Au from all 48 soil samples collected. The consistency of the in-fill auger sampling values indicates significant, consistent gold values that should be Trado drill tested to verify that values are derived from a bedrock source. These highly repeatable gold values from the hand auger samples are the most homogenous zone of gold anomalies tested to date.
In summary, results from the Trado sampling have provided significant drill targets warranting further testing by core drilling. Grid Trado drilling on the southern anomaly indicates anomalous gold values derived from a bedrock source, continue northwest-southwest off the Trado grid. Additionally, in-fill testing via hand auger sampling on the northwest target returned significant anomalous gold assays warranting follow-up testing by Trado drilling to confirm a bedrock source to gold.
This news release has been prepared and approved by Robert (Bob) Lunceford, a geologist with more than 25 years of experience and a Qualified Person as defined 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 900 sq. miles. The Company is conducting a variety of advanced exploration programs during 2012.
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.
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