GMV Minerals Inc. is a junior mining company focused on the acquisition, exploration, evaluation and development of mineral properties, mainly gold projects in the western US. GMV Minerals is a public company with listing on the TSX Venture Exchange. Its common shares are freely traded under the stock quote GMV. The Vancouver-based mineral exploration company is also listed on the OTCQB market with ordinary shares trading under the ticker symbol GMVMF.
GMV Minerals holds a 100 per cent ownership stake in the Mexican Hat property situated within Cochise County in southern Arizona. The property is located 72 miles east-southeast of Tucson.
Prior to GMV, Placer Dome – a U.S. based gold exploration company – explored this project from the 1980s till the 1990s. Since the acquisition, the company has increased its land holding under the Mexican Hat property. The Mexican Hat Project consists of a low sulphide gold-bearing epithermal deposit with mineral claims and exploration permits encompassing a land package of nearly 4,800 acres.
The project hosts multiple mineralized target zones with the potential for metallurgies. The 2021 expansion program for the first and second quarters included 12 drill holes totaling 3,000 meters of drilling in the north and southeastern areas of the project.
According to the updated National Instrument Technical report, the inferred mineral resources amount to 36,733,000 tons at a grade rate of 0.58 g/t (at a cut-off rate 0.2 g/t) including 688,000 ounces of gold.
GMV Minerals is working on exploration programs to discover and evaluate new prospects and exploit the full mineral potential to stretch the inferred category resource estimations. The company through its drilling activities aims to develop and advance the project towards near-term production and increase the gold output to maximize the shareholders’ profit.