VANCOUVER, Feb. 7, 2012 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) today announced that its recently completed ground geophysical survey has delineated several new targets to be drilled during the first quarter of GMV's 2012 drilling program. During January of this year, company technicians serviced two diamond drills; all refitting will be completed by February 15th 2012. The access road and drill pad have been constructed for the first 2012 diamond drill hole location. In addition, the field camp is fully operational and the Company is currently upgrading access roads including survey and preparation for the second 2012 drill site.
Drilling on new targets identified in the recently completed geophysical survey is planned to examine both north and south step-outs of the original 2011 drill grid. The first hole is centered on a resistivity high/low contact centered over a 200 m wide chargeability high approximately 300 m to the south-west. The second planned drill hole is located to the north-east on a 400 m step-out centered on a chargeability high which extends at depth into a high/low contact centered over a resistivity high. The chargeability high/low contact may indicate a significant rock type change or fault and the high resistivity suggests silicification indicative of a hydrothermal system permissive for gold mineralization.
The Company also confirms that it has now received assays from the balance of the initial drill holes completed in 2011. No significant mineralization was encountered. Previous holes tested an extension of the targeted horizon which is extensive but difficult to delineate gold-rich horizons. Intense silica flooding of the drilled rock as well as the presence of associated favourable silica-pyrite alteration with elevated trace mineral values indicative of a hydrothermal system was identified during the 2011 drill program, thereby validating ground and airborne geophysical methods. The recently completed geophysical survey has provided more detailed information on the original geophysical anomaly, including extensions which are believed to be prospective for gold mineralization.
A program of sampling and mapping is planned for other prioritized targets on GMV properties and access to these locations is being evaluated and will be upgraded or extended as necessary.
This news release has been prepared and approved by Robert (Bob) Lunceford, a geologist with more than 25 years 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.
For further information:
GMV Minerals Inc.
Tel: (604) 899-0106