en.Wedoany.com Reported - GMV Minerals Inc. is advancing its drilling program at the Mexican Hat Gold Project in southeastern Arizona, USA, having now drilled the 17th diamond drill hole, with a cumulative total of 3,250 meters completed. The drilling has tested the deposit along a strike length of 540 meters and from surface to a depth of 340 meters. All 16 completed drill holes have an azimuth of 210 degrees and dip angles of either -50 degrees or -75 degrees, with final depths ranging from 120.1 meters to 300.0 meters. Assay results indicate that mineralization in some holes extends beyond expectations, and the company is supplementing additional samples to accurately define mineralized intervals, with the target mineralized zone confirmed at the expected location.
The company has submitted approximately 1,500 drill samples to the assay laboratory. Among these, the assay status for holes MHC26-7, MHC26-9 through MHC26-12, MHC26-15, MHC26-16, and MHC26-22 is listed as "Partial," indicating results show mineralization extending beyond expectations; holes MHC26-13 and MHC26-17 have an assay status of "Complete"; the remaining holes have an assay status of "Pending."
The company submitted a Preliminary Economic Assessment (PEA) technical report on September 8, 2025. The base case assumes a gold price of $2,500 per ounce, with a project pre-tax internal rate of return (IRR) of 66.1% and an after-tax IRR of 50.2%; a pre-tax net present value (NPV) at a 5% discount rate of $390.2 million and an after-tax NPV of $268.3 million, with a payback period of 1.53 years. Under a gold price assumption of $4,000 per ounce, the project's pre-tax IRR reaches 134.2% and after-tax IRR 104.2%; the pre-tax NPV at a 5% discount rate is $1.055 billion and the after-tax NPV is $744.4 million. The project has a mine life of 10 years, with total production of 597,841 ounces, averaging approximately 60,000 ounces per year. Crushed mineralized material will be placed on a heap leach pad at a rate of approximately 10,000 tonnes per day. Capital expenditure is $89,997,000, including a contingency of $15.4 million; the average strip ratio over the mine life is 2.05.
The PEA technical report was prepared by multiple qualified persons independent of the company, including: Mr. Brian Olson of Samuel Engineering, Inc. (metallurgical testing and recovery, process flow and process operating costs) and Mr. Steven Pozder (project economics and infrastructure); Dr. Dave Webb of DRW Geological Consultants Ltd. (mineral resource estimation, mineral reserve estimation, property description, etc.); Mr. Thomas L. Dyer of RESPEC LLC (mine design, production schedule, capital and operating costs); Mr. Francisco J. Barrios of BBA Consultants International LP (pad design and loading); and Ms. Dawn Garcia of Stantec Consulting Services Inc. (environmental). The report also notes that the mine plan evaluated includes inferred mineral resources, which are too speculative geologically to have economic considerations applied to them that would enable them to be converted to mineral reserves.
GMV Minerals Inc. holds a 100% interest in the Mexican Hat property through its wholly-owned subsidiary. The project was initially explored by Placer Dome from the late 1980s to early 1990s. The company's NI 43-101 compliant inferred resource estimate is: 36,733,000 tonnes at a grade of 0.58 g/t gold, with a cut-off grade of 0.2 g/t, containing 688,000 ounces of gold, effective as of August 8, 2025.
