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GMV Minerals discovers 2 new gold zones, expands Mexican Hat gold project

GMV Minerals Inc. said Feb. 21 that its recently completed reverse circulation drilling extended the known mineralization in the north of its Mexican Hat gold project in Arizona by about 120 meters.

Drilling confirmed two new zones, with two intersections located above 130 meters downhole.

Highlights included 27.4 meters at 0.20 g/t of gold and 9.1 meters at 0.65 g/t of gold.

"Not only have we been able to extend the zone and encounter additional mineralization to the southeast, beyond the previous limits of our resource, but now we have also done the same to the northeast of the deposit. These results give us some of the deepest cuts into our zones and should translate well into additional tonnage and ounces," GMV CEO Ian Klassen said in the statement.

In addition, the company said it completed diamond drilling at Mexican Hat's Hernandez Hill target, with logging, sampling and assaying in progress.