VANCOUVER, June 19, 2012 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) today announced that a 15+ man crew is presently working on the A-16 Prospecting License ("PL") which lies adjacent to and directly south of Guyana Goldfields Inc. Aurora deposit, referred to locally as the "Aurora Back". Two geologists are on site mapping and sampling, and continuing other follow-up work. Structural, magnetic, and radiometric data on A-16 defined by airborne and follow-up geophysical surveys [see Press Release dated March 1, 2012] are believed to indicate excellent potential for gold mineralization.
Alluvial gold has been recovered in numerous historic dredging operations on A-16 and active alluvial mining is being conducted near the area now being sampled by GMV geologists. The A-16 PL is being geochemically sampled by hand augers at 50 meter intervals on E-W lines spaced 100 meters apart concentrated on structural trends and granite-greenstone contacts defined by geophysical data.
Access to the A-16 PL is via the Cuyuni River. An active network of mining roads leads south to A-16 from a landing on the Cuyuni River located about two miles upstream of the Guyana Goldfields' Aurora airstrip. GMV has a crane-equipped truck capable of moving large shipping containers which are staged at both Buckhall and Tapir landing on the road system and a fast river boat for transporting personnel and samples to Parika near Georgetown. GMV holds a large block of medium scale permits accessed through A-16 continuing south, east, and west towards Sandspring Resources Ltd.'s Toroparu resource.
221 Soil Samples and 18 Rock Samples have been sent to lab
The first shipment of 221 soil samples and 18 rock samples have been sent to the Georgetown preparation facility of Acme Analytical (Laboratories) Guyana Inc. The first samples results are expected by early July. Samples are now being shipped from camp to the lab on returning supply trips which average every two weeks.
Acidic Intrusives and numerous quartz zones have been discovered
Geologic mapping on A-16 has discovered acidic granitic-type rocks with numerous quartz veins which correlate with interpreted structural complexity defined by the airborne geophysical surveys. Presently, airborne magnetic and radiometric data to obtain detailed structural and lithologic information is being modeled in conjunction with local geologic mapping by GMV geologists. Increased sampling density in areas of geophysical complexity is presently underway.
Drilling in the Puruni
The 2012 three-hole drill program in the Puruni area is completed with the drills being readied to move to A-16 depending on assay results from ongoing geochemical sampling. Completed drill holes intercepted acidic granitic-type rocks similar to other intrusive rocks associated with gold mineralization at other important deposits in Guyana such as Omai (3.8 million ozs Au production through 2006). The intrusive is in sharp contact with a sedimentary horizon which is considered to be a good host for gold mineralization. Core sample assays from the drill holes did not return economic gold mineralization although intense silicification was intercepted which is often associated with gold mineralization elsewhere in the Guiana Shield of northeastern South America. Geochemically elevated gold values in quartz rich sediments were encountered in one hole and further investigation of the rocks in this hole is underway to determine if additional drilling is warranted.
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.
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