GMV Minerals Inc. Intersects Two Thick Lithium Claystone Horizons Testing 1,250 Hectares at Daisy Creek Project in Lander County, Nevada
Rhea-AI Summary
GMV Minerals Inc. has announced preliminary drilling results from its Daisy Creek Project in Nevada. The southern-most hole, DC24-1, revealed three claystone horizons totaling 48.7m of lithium enrichment with values exceeding 1,000 ppm, starting at 76.2m depth. The results show thickening claystone horizons and increasing grades towards the south. The drill holes are separated by 300 to 1,000m, suggesting potential for substantial tonnage estimates. The values surpass the cut-off grade for most claystone projects in Nevada and are comparable to feasibility-stage projects in Clayton Valley.
Positive
- DC24-1 hole intersected significant lithium mineralization with values >1,000 ppm across 48.7m
- Drill results show increasing grade and thickness towards the south
- Wide spacing between drill holes (300-1,000m) suggests potential for substantial tonnage
- Lithium grades exceed typical cut-off grades for Nevada claystone projects
Negative
- DC24-5 showed no significant values
- DC24-4 was not drilled
News Market Reaction – GMVMF
In the trading session that priced this news, GMVMF declined 13.92%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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VANCOUVER, BC / ACCESSWIRE / November 15, 2024 / GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that preliminary results from the four drill holes completed on the Daisy Property are very encouraging with a thickening in the claystone horizons and increasing in the grade towards the south. The southern-most hole, DC24-1 intersected three distinct claystone horizons totaling 48.7 m of lithium enrichment starting 76.2 m down hole.
All holes were 5.5-inch RC holes drilled vertically.
Drill Hole | From (m) | To (m) | Thickness (m) | Li (ppm) |
DC24-1 | 76.2 | 109.7 | 33.5 | 1,085 |
Incl | 85.3 | 109.7 | 24.4 | 1,125 |
And | 164.6 | 170.7 | 6.1 | 1,170 |
And | 189.0 | 198.1 | 9.1 | 1,004 |
DC24-2 | 39.6 | 45.7 | 6.1 | 942 |
And | 100.6 | 112.8 | 12.2 | 773 |
DC24-3 | 54.9 | 61 | 6.1 | 676 |
DC24-5 | No significant values | |||
DC24-4 was not drilled.
No significant uranium values were encountered.
Ian Klassen President states "We are very pleased with the results showing a thickening and increasing grade to the south on our
Company | Project | Tonnes (millions) | ppm Li |
American Lithium | TLC Project | 2052 | 809 |
Pan American Energy | Horizon Li | 2,800 | 669 |
Spearmint Resources | McGee | 470 | 830 |
Noram Lithium | Zeus | 586 | 957 |
RC samples were collected into premarked bags from 10' runs, collected and dried before transporting them to the independent certified ALS Global's laboratory in Elko Nevada. They were further dried, crushed and pulverized using CRU-31, SPL-21 and PUL-31 procedures. The pulps were then shipped to ALS Global's laboratory in North Vancouver and were processed using ME-MS41 aqua regia digestion and mass spectrometry analysis. Six Certified Reference Standards, CDN-Li1, were submitted, checked in re-runs with internal laboratory standards together with selected samples and returned acceptable results.
Figure 1. The image shows lithium and magnesium analyses down hole (meters) for the four drill holes completed, schematically distributed from the basin margin on the left to towards the deeper basin on the right.
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. is the Q.P. for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Ian Klassen, President
For further information please contact:
GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: Klassen@gmvminerals.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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.
SOURCE: GMV Minerals, Inc.
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