GMV Minerals Inc. Announces Update
19 June 2012 - 10:30PM
PR Newswire (Canada)
VANCOUVER, June 19, 2012 /CNW/ - GMV Minerals Inc. (the "Company"
or "GMV") today announced that a 15+ man crew is presently working
on the A-16 Prospecting License ("PL") which lies adjacent to and
directly south of Guyana Goldfields Inc. Aurora deposit, referred
to locally as the "Aurora Back". Two geologists are on site
mapping and sampling, and continuing other follow-up work.
Structural, magnetic, and radiometric data on A-16 defined by
airborne and follow-up geophysical surveys [see Press Release dated
March 1, 2012] are believed to indicate excellent potential for
gold mineralization. Alluvial gold has been recovered in numerous
historic dredging operations on A-16 and active alluvial mining is
being conducted near the area now being sampled by GMV
geologists. The A-16 PL is being geochemically sampled by
hand augers at 50 meter intervals on E-W lines spaced 100 meters
apart concentrated on structural trends and granite-greenstone
contacts defined by geophysical data. Access to the A-16 PL is via
the Cuyuni River. An active network of mining roads leads
south to A-16 from a landing on the Cuyuni River located about two
miles upstream of the Guyana Goldfields' Aurora airstrip. GMV
has a crane-equipped truck capable of moving large shipping
containers which are staged at both Buckhall and Tapir landing on
the road system and a fast river boat for transporting personnel
and samples to Parika near Georgetown. GMV holds a large
block of medium scale permits accessed through A-16 continuing
south, east, and west towards Sandspring Resources Ltd.'s Toroparu
resource. 221 Soil Samples and 18 Rock Samples have been sent to
lab The first shipment of 221 soil samples and 18 rock samples have
been sent to the Georgetown preparation facility of Acme Analytical
(Laboratories) Guyana Inc. The first samples results are expected
by early July. Samples are now being shipped from camp to the
lab on returning supply trips which average every two weeks. Acidic
Intrusives and numerous quartz zones have been discovered Geologic
mapping on A-16 has discovered acidic granitic-type rocks with
numerous quartz veins which correlate with interpreted structural
complexity defined by the airborne geophysical surveys.
Presently, airborne magnetic and radiometric data to obtain
detailed structural and lithologic information is being modeled in
conjunction with local geologic mapping by GMV geologists.
Increased sampling density in areas of geophysical complexity is
presently underway. Drilling in the Puruni The 2012
three-hole drill program in the Puruni area is completed with the
drills being readied to move to A-16 depending on assay results
from ongoing geochemical sampling. Completed drill holes
intercepted acidic granitic-type rocks similar to other intrusive
rocks associated with gold mineralization at other important
deposits in Guyana such as Omai (3.8 million ozs Au production
through 2006). The intrusive is in sharp contact with a sedimentary
horizon which is considered to be a good host for gold
mineralization. Core sample assays from the drill holes did
not return economic gold mineralization although intense
silicification was intercepted which is often associated with gold
mineralization elsewhere in the Guiana Shield of northeastern South
America. Geochemically elevated gold values in quartz rich
sediments were encountered in one hole and further investigation of
the rocks in this hole is underway to determine if additional
drilling is warranted. This news release has been prepared and
approved by Robert (Bob) Lunceford, a geologist with more than 25
years of 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. GMV Minerals Inc.
CONTACT: GMV Minerals Inc.Ian KlassenTel: (604)
899-0106www.gmvminerals.comEmail: klassen@gmvminerals.com
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