Apr. 7, 2011 (Canada NewsWire Group) --
VANCOUVER, April 7 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) is pleased to announce that it has commenced mobilization for its initial diamond drill program which is expected to start within the next two weeks. Both of the Company's drills have been delivered to Guyana. The first drill (including supplies) is enroute and is expected to arrive at the drill site by mid next week (delayed due to road conditions affected by unseasonably heavy rains). The second drill has been released from Customs and is now also enroute.
The drill program will test the first target called the ZEV showing. The initial program will consist of 25 vertical holes each to a depth of 250 -300 metres intersecting a very strong well defined geophysical anomaly which has a sharply defined northern boundary. The ZEV showing will be drilled along an east-west axis on approximately 200-metre hole spacing. The north-south axis will be drilled on 100 metre hole spacing which will extend well into the surrounding rock units. The first holes will be centered on the strongest anomalous showings and follow up holes will infill the pattern necessary to delineate the structure into the adjacent altered zone on the north and south sides.
The drill core will be logged, photographed and cut on site. The core will be stored in locked 20-foot containers. The samples will then be sent out in locked containers using tamper proof sealing and accompanied by GMV staff to Acme Labs in Georgetown, Guyana. There will also be a series of duplicates and blanks submitted. Acme Labs will crush, sieve, metallic screen and send a 150-gram sample to their head assay lab while providing GMV with the rejects and a 100-gram pulp. GMV will use its Niton XRF Analyzer on the 100-gram pulp sample to immediately test for anomalous values. Drill core assays are estimated to have a 3-4 week turn around time depending on lab congestion.
The 3D pole-dipole Mag/ IP /Resistivity survey is continuing on schedule. The previously announced identification of an anomaly with high magnetic intensity, low resistivity and high chargeability has been further extended by an additional 300 metres westward and remains open. This large anomaly is now 300-400 metres wide by 1.4 km long, comprised of a chargeability high and an 800-metre resistivity coincident low. The geophysical anomaly trends east-west and is interpreted to lay approximately 120-150 metres below surface, extending to depth of over 300 metres. Production speed of the geophysical survey has increased with experience in the area. Currently, there is approximately 50 line km which has been cut in advance of the survey crew.
GMV's ongoing airborne magnetic and gamma-ray spectrometry survey is now 70% complete on its major Guyana properties with over 23,500 line-kilometres of data collected on all of the five planned survey blocks. The Aurora Back, Puruni-Mara, Oko and Waini River blocks are complete and data is currently being compiled and interpreted. Survey operations are now underway on the Five Stars-Matthews Ridge block. This block is being flown last due to the distance from the Georgetown base however airborne operations have recently been hindered due to unseasonably heavy rain. The onset of the traditional dry season has been delayed but generally the weather has dried significantly in the Georgetown area and this trend is expected to continue inland.
Ground crews have now collected well over 200 augered geochemical samples near the geophysical stations. The samples were been taken every 50 metres on 100 metre spaced lines. The samples were taken at a depth of approximately 1 meter with each sample weighing greater than 1 kilo in order to provide material for re-sampling and duplicates. The samples are being assayed for gold and ICP multi element analysis. Each sample was collected up slope and well away from the geophysical pot location with ground conditions, texture, color, nodules and other information recorded. All samples have been submitted to Acme Labs and the Company is presently waiting for assay results.
The drill camp is situated within 500 metres of the centre of the ZEV target. This area has had extensive high grade alluvial mining with most of the valley bottoms worked in the last few years leaving only tailings and gravel with no forest cover. There are many minor roads in the area used for logging and testing for alluvial gold and the main access road for the entire area crosses the target. The camp has been expanded and is built in the local style as well as containing separate air conditioned Weatherhaven structures for the drilling crews now arriving on site. Presently the camp has approximately 50 workers and can suitably accommodate about 20 - 30 more.
Lastly, the Company announces that two re-fitted model MJ 4 x 4 Bedford heavy duty transport trucks (both with winches and one with crane) have now arrived in country and are in transit to the drill camp. A larger 6 x 6 TM Bedford truck with winch and crane capable of self-loading 20 foot shipping containers is on order.
This news release has been reviewed and approved by 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 1000 sq. miles. The Company currently has approximately C$7.6M in treasury and is conducting a variety of advanced exploration programs during 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