Dec. 15, 2010 (Canada NewsWire Group) --
VANCOUVER, Dec. 15 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) held its Annual General Meeting in Vancouver, BC., on Friday, December 10, 2010. All management proposed resolutions were passed at the Meeting. The following directors were re-elected at the Meeting and at a subsequent board of directors meeting, the following appointments were made:
Ian Klassen ~ Director, President & CEO
Alistair McLennan ~ Chairman, Member of the Audit Committee
Douglas Perkins ~ Director, Vice President, (Exploration) Member of the Audit Committee
David McMillan ~ Director, Chair of the Audit Committee
Alfro Alphonso ~ Director, GMV Guyana Resources Inc. (100% owned subsidiary)
Michele Pillon ~ Chief Financial Officer & Corporate Secretary
The Company has been working diligently to prepare for its upcoming drill program set to commence in Q1 2011. The Company is pleased to report that its previously announced airborne magnetic and gamma-ray spectrometer survey is well underway. Daily production is anticipated to average 800 km per standard flying day, with the initial 21,190 km to be completed by mid-February 2011; the platform being utilized is a specially-equipped Piper PA-31 Navajo twin-engine aircraft which allows +7 hours of operation per flight, facilitating efficient operations on the dispersed license blocks west and northwest from a base of operations in Georgetown. The airborne survey is contracted through Geotech Ltd., a full service contract airborne geophysical survey company. In-house geophysical monitoring and on-going interpretation of the airborne data is being provided by Christopher Campbell of Intrepid Geophysics. The airborne geophysics is expected to greatly assist geologic mapping, delineating both lithological contacts and structure, as well as identifying anomalous alteration patterns.
Ongoing geologic mapping and surface sampling will follow-up selected targets from the preliminary airborne results as well as investigating known showings and previously identified anomalous gold areas; a program of 3D induced polarization and resistivity to further develop both sets of targets is currently advancing and is being conducted by Arce Geofísicos. The initial focus of the ground-based geophysics program, anticipated to eventually comprise 100 line-kilometres, will be located on one of the highest-value, fine-grained gold producing areas held by GMV Minerals Inc. This area lies along the Puruni shear and is the source for ~70,000-90,000 ounces per annum of alluvial gold production.
Auger sampling will also be carried out prior to core drill testing.
Two Ingetrol manufactured diamond drills with 10,000 meters of expected consumable drilling equipment has been purchased, assembled and is expected to arrive in Guyana in mid January. In addition, two specialized MJ 4X4 Bedford trucks with winches and one fitted with crane are being refitted and are scheduled to arrive at roughly the same time. They will be able to move the drills and equipment into the initially planned drilling sites that have current alluvial mining production and access.
The 2010 geophysics program is under the supervision of Christopher (Kit) Campbell, P. Geo., a Qualified Person 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 currently has approximately C$8.5M in treasury and is conducting a variety of advanced exploration programs during 2010/2011.
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.
GMV Minerals Inc.
Tel: (604) 899-0106