VANCOUVER, May 20 /CNW/ - GMV Minerals Inc. (TSX.V: "GMV") ("the Company" or "GMV") is pleased to announce that it has received very encouraging IP data from its 100% owned Nechako Gold property in central British Columbia.
The Company has received 3D-IP data from grid 1 and grid 2 on its Nechako property; data for grid 3 is pending. The surveys were initiated earlier in the year to follow up on anomalous zones outlined by previous surveys on grids 1, 2 and 3. The surveys involved both grid extensions and infill lines to better resolve and/or expand IP chargeability and resistivity trends.
At grid 1, 15 line-kilometres were completed as 100 metre spaced infill lines to cover 2 chargeability targets. The northern target is a circular, coincident high resistivity - high chargeability anomaly flanking a presumed rhyolite/andesite contact. The infill surveying shows that the high chargeability target, some 200 metres in diameter, is enveloped by a lower chargeability feature, with the overall target some 400 metres in diameter and present to 300 metres below surface.
The southern target was also better resolved by the infill surveying and now comprises a 1.5 km long northwest trending chargeability zone underlain by low resistivity and flanked by high resistivity. The infill surveying expanded the strongest chargeability portion of the zone to 800 metes long at a depth of 200 metres below surface. On surface there are 3 distinct chargeability zones that coalesce into one broad zone at depth. The target also parallels the same geologic contact as the northern target. In late May or early June, the Company plans to drill test both targets with 1 or 2 drill holes each, for approximately 1000-1200 metres drilling.
At grid 2, approximately 30 line-kilometres were cut and surveyed as grid extensions to close off anomalous trends in three separate areas on the grid. The target in the NW grid area was expanded a further 400 metres to the north and now measures 200-250 metres wide by nearly 1000 metres long and is underlain by low resistivity and flanked by high resistivity. The SW target did not increase in size and is now fully resolved. The east target, the strongest of the 3, was expanded to both the north and south and now measures nearly 2000 metres long by 1000 metres wide.
The previous work outlined the chargeability anomaly over a length of 400 metres by 1000 metres. The zone is still open to the north and south. To the north the grid terminates at the southern shores of Intata Reach, which links Ootsa and Natalkuz Lakes and further expansion will have to wait until the lake freezes. To the south more grid will be cut and surveyed to determine the full extent of the conductor. In late May or early June, the Company intends to drill approximately 1200 metres comprising 1 hole each in the NW and SW targets and 2 holes in the East target.
Data from grid 3 will be evaluated when received.
GMV is planning to commence the drill program on these 2 grid areas in 2-3 weeks and should have the results of grid 3 while the drill is still onsite to test targets from that area. The initial drilling will comprise approximately 1200 metres at each grid area. More holes will be drilled contingent upon success.
Wesley Raven, P. Geo., VP Exploration, is the qualified person and takes responsibility for the technical disclosure in this news release.
GMV Minerals Inc.
GMV Minerals Inc. is a mineral exploration company focused primarily on epithermal style gold and silver projects in central British Columbia. The Company is well financed and has no debt. GMV Minerals has amassed a sizeable land position upon which it has completed an extensive amount of work to date. Recent exploration programs conducted on the 100% owned Nechako Property has successfully identified several corresponding conductivity and related resistivity geophysical anomalies located at depth which display the characteristics of an epithermal style mineralized body suitable to host epithermal gold-silver and porphyry copper-gold style mineralization.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, President/CEO
Statements about the Corporation's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Corporation to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS