on GMV Minerals, Inc. (NASDAQ:GMVMF)
GMV Minerals Secures Drill Permits for Mexican Hat Gold Project
GMV Minerals Inc. has been granted drill permits by the Bureau of Land Management for its Mexican Hat Project in Southeast Arizona. Subject to financial guarantees, the permits allow for diamond drilling at this 100% owned site. The company plans to drill 35 holes totaling about 7300 meters, starting in early spring 2026. Harris Exploration Drilling will execute the drilling. The program, in collaboration with technical consultants, aims to test resource variability and optimize pit design.
The project's PEA, released in 2025, indicates a promising economic outlook, with a pre-tax IRR of 66.1% and an NPV of US$390.2 million at a $2,500 gold price. With a mine life of 10 years, the Mexican Hat Project is expected to produce 597,841 ounces of gold. GMV aims to further explore and realize the full potential of the property amidst strong historical results.
R. E.
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