Publicly traded exploration company GMV Minerals has received drill permits for its Mexican Hat gold project in Arizona, US, with drilling set for early spring 2026.
The drill permits were granted by the Bureau of Land Management, subject to posting and acceptance of the required reclamation bonding and financial guarantee.
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The approval enables GMV Minerals to proceed with its next phase of diamond drilling at the 100%-owned project in south-east Arizona.
GMV selected Harris Exploration Drilling to undertake the work, which will consist of approximately 35 holes, totalling around 7,300m of diamond drill core.
The diamond drill programme has been developed in consultation with technical advisors including DRW Geological Consultants and RESPEC.
The primary objective is to test the resource at multiple locations, confirm grade variability and further validate the resource to improve the mineral resource categories.
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By GlobalDataThe plan involves testing all zones at approximately 100m by 100m spacing across the 1,200m-long deposit, reaching up to 100m below the depth of the modelled open pit.
Geomechanical measurements will be collected during the programme to facilitate pit optimisation. The principal controlling structure at the Mexican Hat project has been drilled from surface, where it dips 59 degrees to a depth of 250m below surface, before flattening to 24 degrees.
Subsidiary structures, which appear as splays off the main structure (zones one to six inclusive), extend up to 220m into the hanging wall.
GMV Minerals CEO Ian Klassen said: “We are very excited to get under way with the upcoming drill programme in early 2026. Receiving the Mexican Hat Project drill authorisation is an important milestone for shareholders. With strong historical results and a compelling plan to advance our company on the heels of a promising PEA [preliminary economic assessment], GMV is positioned for a very meaningful drill campaign.”
Placer Dome (USA) initially explored the project in the late 1980s and early 1990s. GMV’s current focus is on developing the site for near-term gold production.
The company’s NI 43-101 resource estimate (inferred) is 36,733,000 tonnes grading 0.58 grams per tonne (g/t) gold at a 0.2g/t cut-off, consisting of 688,000oz of gold, with an effective date of 8 August 2025.
