GMV Minerals Defines Initial Drill Program to Test for Uranium and Lithium at the Daisy Creek Project in North Central Nevada

GMV Minerals Defines Initial Drill Program to Test for Uranium and Lithium at the Daisy Creek Project in North Central Nevada

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to announce that further to receipt of additional geophysical depth analysis of its helicopter-borne high resolution magnetic and radiometric survey, the Company's exploration team has proposed an initial drill program of six holes at the Daisy Creek property. The program is designed to test the Daisy Property for prospective Lithium Claystone (LC) mineralization. The property was explored in the past because of the prospectivity for uranium with lithium being identified serendipitously. Drill targets have been established based upon recent sampling, historical data, and the high-resolution aeromagnetic survey completed by Precision GeoSurveys in late 2023.

The aeromagnetic data was inverted to determine depth of the caldera basement. The flatter-lying Tertiary tuffs and claystones on the property are deposited into this caldera. Later basaltic intrusions and extrusions complicate portions of the basin, but in general a gently dipping margin appears to steepen as the slope approaches the center of the basin. ** Two historic drill holes are reported to have intercepted approximately 11 meters of very elevated lithium (up to 20,000 ppm Li) encountered at depths from surface of less than 125m.

The image (see below) shows the Daisy Property outlined in purple over top of a satellite image that has been overlain with the Nevada Bureau of Mines 1:500,000 Geological Map {Stewart and Carlson (1978)}. The Basin-fill tuff and claystone unit is shown in pale yellow and is the target horizon. The Daisy Caldera is defined by the rhyolite breccia shown in a pale flesh tone. Portions of the basin that are deeper than 200 m are shown in blue. The proposed drill holes target the basin fill at depths

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5465/199769_cfbde6e484451ac1_002.jpg
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5465/199769_cfbde6e484451ac1_002full.jpg

**This does not meet NI 43-101 guidelines for disclosure and are presented for background purposes only.

Moving forward the Company will file a Notice of Intent with the Bureau of Land Management and expects to move a rig onto the property as soon as spring weather permits.

Ian Klassen, President commented, "Our understanding of the historical work completed by Phillips Uranium has confirmed the setting of this caldera with favorable host-rocks. Phillips had been testing the uranium potential predicated on elevated gamma-ray spectrometer in an interpreted hydrothermal setting on the margin of the caldera. The historic underground Daisy Creek uranium workings are located on our property. We understand that the elevated lithium values they are reported to have obtained were from the initial shallow drill holes. We have improved our understanding of the basin configuration to where we can optimize our ability to reproduce the drill holes that discovered lithium here while testing possible uranium targets. The setting, analogous to that of the McDermitt caldera leads us to believe that the target warrants drill testing."

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 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Property, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production. The Company's NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.

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: info@gmvminerals.com
www.gmvminerals.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199769

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GMV Minerals Inc. Files Notice of Intent to Drill Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. Files Notice of Intent to Drill Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has filed permitting documentation with the Bureau of Land Management (BLM) for GMV's Daisy Creek lithiumuranium project in Lander County, Nevada

The Notice of Intent (NOI) covers a six hole drill program up to a total depth of 3000 feet and focuses on the most prospective lithium targets as defined by recent geophysical work. Upon approval and receipt of permits, GMV is targeting to drill its Daisy Creek project in June/July 2024 and will provide further updates as new information comes available.

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GMV Minerals Inc. Closes Second Tranche Non-Brokered Financing

GMV Minerals Inc. Closes Second Tranche Non-Brokered Financing

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement. The second tranche raised gross proceeds of $80,250 from the issuance of 535,000 units (the "Units") at a price of $0.15 per Unit. The total private placement raised $301,350 in gross proceeds with the issuance of 2,009,000 Units

Each Unit consists of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 for a period of twelve months from the date issuance.

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GMV Minerals Inc. Closes First Tranche Non-Brokered Financing

GMV Minerals Inc. Closes First Tranche Non-Brokered Financing

GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV)(OTCQB:"GMVMF") is pleased to announce that it has closed the first tranche of a non-brokered private placement. The first tranche raised gross proceeds of $221,100 from the issuance of 1,474,000 units (the "Units") at a price of $0.15 per Unit. The total private placement will raise up to $300,000 in gross proceeds with the issuance of up to 2,000,000 Units

Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 until April 7, 2025.

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GMV Minerals Secures Deferments Under Option Agreement for Daisy Creek Lithium Project

GMV Minerals Secures Deferments Under Option Agreement for Daisy Creek Lithium Project

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to announce that it has reached a mutual agreement with Western Property Holdings, LLC ("WPH"), as optionor, to amend the Option Agreement dated May 15, 2023 between the Company, as optionee, and WPH (the "Option Agreement") for the Company's option to acquire a 100% interest in the Daisy Creek Project, Nevada, on the terms which were previously announced on May 16, 2023, as follows:

  1. The first cash option payment due on or before June 12, 2024 has been reduced from US$100,000 to US$10,000, and the parties have agreed to defer payment of the balance until June 12, 2026 (now US$190,000 in total);
  1. The first share installment due on or before June 12, 2024 has been reduced from 1 million common shares to 500,000 common shares of the Company, and the parties have agreed to defer issuance of the balance until June 12, 2026 (now 4 million common shares in total); and
  1. The parties have agreed to defer the minimum work requirements of US$250,000 due on or before June 12, 2024 until June 12, 2026 (now US$750,000 in total).

The Company has doubled its land position at the Daisy Creek Lithium Project, and these revisions were made to allow additional time for the Company to complete on-going exploration work to evaluate the potential of the properties.

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GMV Minerals Receives Helicopter-Borne High Resolution Magnetic and Radiometric Survey Results ---Multiple Priority Targets Identified at Its Daisy Creek Lithium Project

GMV Minerals Receives Helicopter-Borne High Resolution Magnetic and Radiometric Survey Results ---Multiple Priority Targets Identified at Its Daisy Creek Lithium Project

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to announce that it has received the completed geophysical surveys from Precision GeoSurveys Inc. of Langley, British Columbia on its Daisy Creek project in Lander County, Nevada.

The survey was designed to outline the northern portion of the Daisy Creek caldera where Phillips Uranium's historic drill results returned very impressive high-grade lithium values while testing uranium targets within the basin fill. GMV's current survey included high-resolution radiometric and magnetic measurements across its entire claim package.

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South Star Battery Metals Announces Land Purchase, Construction Update, and the Approval of the Definitive Mining Licenses For Phases 1, 2 & 3 for its Santa Cruz Graphite Mine in Brazil

South Star Battery Metals Announces Land Purchase, Construction Update, and the Approval of the Definitive Mining Licenses For Phases 1, 2 & 3 for its Santa Cruz Graphite Mine in Brazil

Santa Cruz Graphite Mine Highlights:

  • Final payment of land purchase for Phase 1 Plant and Operations.
  • Approval of the Definitive Mining Licenses For Phases 1, 2 & 3. All mining and environmental licenses/permits are approved and in-hand for the future phased, modular expansion of Santa Cruz graphite production up to 50,000 tonnes/year.
  • Phase 1 construction is on schedule for substantial completion by the end of June 2024 followed by a 6-week plant commissioning and ramp-up period. Commercial sales are planned to start in September 2024. Name plate production capacity is expected to be reached in Q4 2024.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF) is pleased to announce the final payment of the previously announced (Aug. 02, 2022) land purchase required for construction of the Phase 1 mine and plant facilities. The farm totals approximately 325 hectares and is where all the plant facilities, mine and infrastructure installations are required for the first three years of operations at its Santa Cruz Graphite Project in Bahia, Brazil

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QX Resources Ltd  Large Basin Confirmed in Drillholes at Liberty Lithium Brine

QX Resources Ltd Large Basin Confirmed in Drillholes at Liberty Lithium Brine

Perth, Australia (ABN Newswire) - QX Resources Limited (ASX:QXR) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company's two-hole diamond drill program (Table 1*).

- Drilling and geophysics indicate the existence of a large brine basin at Liberty Lithium Brine Project USA, with brine intersected over 400 m vertically.

o Geological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging initial lithium assay results, aquifers and salinity.

- Lithium brine specialists have proposed additional drilling to intersect deep lithium brines in the centre of the basin, in a more favourable setting, further west of recent drilling.

- Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA, including with Stardust who aim to IPO in June.

- QXR and IG Lithium Option Agreements are being amended to facilitate undertaking further drilling.

- QXR aims to provide an update soon on progress with gold exploration in Queensland.

Porous conglomerates saturated with brines were intersected beneath fine grained lake sediments with sandy layers. The geology intersected is very encouraging as it is similar to the producing sequences of Clayton Valley Nevada, where Albemarle's producing lithium brine deposit is located. Detailed downhole geophysics together with initial downhole brine sampling (packer sampling) shows increasing salinity with depth, together with large brine volumes, both encouraging for discovering a potentially economic lithium brine deposit in the properties.

Although the maximum lithium assay values were 50mg/l Li over 15 metres near the base of hole #2 (Table 2*), the salinity and conductivity increased with depth, at levels similar to known producers. Ingress of fresh water into the aquifers may explain the lower lithium values in drill holes #1 and #2 being located close to a range front fault on the edge of the basin. These initial holes were located near the edge of the basin in part for logistics and access reasons as well as the surface lithium anomaly.

Hole #2 also intersected thick porous brine horizons - critical for future success- which is considered encouraging, together with the geological similarity to Clayton Valley NV (Albemarle's Silver Peak mine). These similarities include basal porous conglomerate units containing brine beneath finer grained lake sediments.

However, the best producing horizons at Clayton Valley are tuff units within the sediment package which have not been intersected in drillholes to date, but which outcrop 4km to the southwest of hole #2 (Figure 4*).

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting. Lithium brine specialists have advised additional drilling is required to potentially intersect deep lithium brines in the centre of the basin, further west of drilling undertaken by QXR, based on lab results to date.

QXR Managing Director, Stephen Promnitz, said: "QXR has defined a new large scale brine basin, saturated with brines, at the Liberty Lithium Brine Project. A large near-surface brine field with lithium potential is rare to date in the USA. The geological setting, with conglomerates loaded with brines, is similar to Albemarle's producing deposit. We are yet to find tuff horizons similar to Clayton Valley, which are the best brine aquifers - although they do outcrop nearby, suggesting they may exist within the basin. Surface and downhole geophysics make it compelling for further drilling to the west, in the centre of the basin under deeper sediments, which may intersect higher grade lithium brine, compared to the drilling to date."

Next Steps

Applications for further drillholes were submitted some time ago. To provide operational flexibility, an amended drill program has been submitted to regulators for approval. Bulk volumes of brine will be submitted for testwork with selected direct lithium extraction (DLE) providers, as well as with lithium refiner Stardust Power Inc, with whom QXR holds at Letter of Intent (ASX announcement 29 Feb 2024). Stardust expects to list on NASDAQ in June via a c.US$490m deal and then plans to build a lithium refinery in Oklahoma.

Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA.

QXR and IG Lithium are currently discussing amendments to the Option Agreements to facilitate the undertaking of further drilling.

Background

The Liberty Lithium Brine Project, located in SaltFire Flat, California, covers contiguous claims over 102km2 (25,300 acres), being one of the largest single lithium brine projects in the USA (Figure 1*). The Company entered an Option to Purchase Agreement and an Operating Agreement (Option Agreements) to earn a 75% interest in the large scale Liberty Lithium brine project in California, USA, from vendor IG Lithium LLC (ASX announcement 5 October 2023). Based on results received to date, the Company is currently in discussion with IG Lithium regarding potential renegotiation of the Option Agreements to allow a longer period of time to conduct additional drilling prior to any future commitments.

Two vertical diamond drill holes were completed (369m & 443 metres depth), spaced 4km apart (Figure 2, 3*).

Holes were centred over an extensive lithium brine surface anomaly and significant MT geophysical target, interpreted as a series of conductive brine bearing aquifers at depth. Brine horizons were intersected in both holes with numerous brine aquifers intersected in drillhole #2 (ASX announcement 8 Feb 2024).

QXR entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the lithium brines from the Liberty Lithium Brine Project. The parties intend to evaluate options to potentially supply Stardust Power with lithium brine products, dependent on results, on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles (ASX announcement 29 Feb 2024). The Company plans to share the results of the two hole drill program with Stardust as part of ongoing discussions.

Drillholes

Drillhole #1 (LLD23001) was completed at 369 metres depth. Target horizons were intersected at 49m depth and 329m depth. Fine grained sediments, gravels and coarse alluvial fan material were intersected down the length of the hole. An interpretation is that the drillhole went through the range front fault at 249m depth.

Drillhole #2 (LLD24002) was completed at 433 metres depth, located 4km to the south of drillhole #1. Both drillholes were centred over significant MT geophysical targets interpreted as a series of conductive brine bearing aquifers at depth. Both holes were positioned within an extensive lithium brine surface anomaly of over 10km defined in auger samples. An interpretation is that the drillhole went through the range front fault at 370m depth.

Figures 5 shows the increase in lithium and chloride concentration in brine with increasing depth. Figures 6-8* show interpretations of the possible geology on MT geophysical lines and the location of proposed drill holes.

The location of the proposed drill holes is also shown in Figure 9*.

Recommendations

Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting, and others who have closely reviewed the geological setting of Albemarle's Silver Peak lithium brine producer in Clayton Valley, Nevada. Their recommendations included additional drilling further west of drilling undertaken by QXR, to potentially intersect deep lithium brines in the centre of the basin, based on lab results to date. Surface and downhole geophysics suggests that the basin is angled to the west with deeper sediments and brines to the west of recent drilling. Further, the geochemistry of the brine samples may suggest an ingress of fresh water into the aquifers, resulting in lower lithium grade in the two holes drilled to date, as the holes were drilled adjacent to a range front fault with significant fresh water inflows into the basin, along the basin edge.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/C58T0H5U



About QX Resources Ltd:

QX Resources Limited (ASX:QXR) is focused on exploration and development of battery minerals, with hard rock lithium assets in a prime location of Western Australia (WA), and gold assets in Queensland. The aim is to connect end users (battery, cathode and car makers) with QXR, an experienced explorer/developer of battery minerals, with an expanding mineral exploration project portfolio and solid financial support.

Lithium portfolio: QXR's lithium strategy is centred around WA's prolific Pilbara province, where it has acquired a controlling interest in four projects through targeted M&A - all of which sit in strategic proximity to some of Australia's largest lithium deposits and mines. Across the Pilbara, QXR's regional lithium tenement package (both granted or under application) now spans more than 350 km2.

Gold portfolio: QXR is also developing two Central Queensland gold projects - Lucky Break and Belyando - through an earn-in agreement with Zamia Resources Pty Ltd. Both gold projects are strategically located within the Drummond Basin, a region that has a >6.5moz gold endowment.

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Miguel Paucar Joins Lancaster Resources Advisory Board to Propel Corporate Growth and Sustainable Operations

Miguel Paucar Joins Lancaster Resources Advisory Board to Propel Corporate Growth and Sustainable Operations

Lancaster Resources Inc. (CSE:LCR) (OTCQB: LANRF) (FRA:6UF0) (" Lancaster "), a critical mineral exploration company, is pleased to announce the appointment of Miguel Paucar, B.Sc., M.Sc. to its Advisory Board. With over 28 years of extensive experience in the international mining sector, Miguel brings a wealth of knowledge and expertise from his work across diverse geographical regions including South Africa, Australia, Chile, Mexico, Peru, and Brazil. His career has encompassed significant roles in both underground and open-pit mining as well as geomechanics.

Miguel notably served as the Mining Director at Sigma Lithium from 2021 to 2022, where he spearheaded major advancements in lithium extraction technologies and sustainability practices. Under his leadership, the company implemented initiatives such as using 100% renewable energy and recycled water, producing "quintuple zero green" lithium with a focus on zero tailings dams and zero hazardous waste.

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CENTURY LITHIUM FILES TECHNICAL REPORT ON THE FEASIBILITY STUDY OF THE CLAYTON VALLEY LITHIUM PROJECT, NEVADA

CENTURY LITHIUM FILES TECHNICAL REPORT ON THE FEASIBILITY STUDY OF THE CLAYTON VALLEY LITHIUM PROJECT, NEVADA

Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (Century Lithium or the Company) is pleased to announce the filing of the report " NI 43-101 Technical Report on the Feasibility Study of the Clayton Valley Lithium Project, Esmeralda County, Nevada USA", with effective date April 29 2024 (Feasibility Study or Report), to support the disclosure in the Company's news release dated April 29, 2024 (see news release ). The Report was prepared in accordance with National Instrument 43-101 (NI 43-101) by Wood Canada Limited (Wood), Global Resource Engineering, Ltd. (GRE) and WSP USA Environment and Infrastructure, Inc. (WSP). All currency amounts in this news release are presented in US dollars.

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ALX Resources Corp. Receives Analytical Results from the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. Receives Analytical Results from the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

alx resources corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the results of the 2024 winter drilling program and upcoming summer 2024 exploration plans at its Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan.

Gibbons Creek is the subject of an option earn-in transaction with Trinex Lithium Ltd., a wholly-owned subsidiary of Trinex Minerals Limited ("Trinex"), which is a publicly-traded mineral exploration company listed on the Australian Securities Exchange. Under the terms of a definitive agreement signed in May 2024, Trinex can earn an initial 51% interest and up to a 75% participating interest in the Project in two stages over a period of five years by making cash payments and common shares payments to ALX, and by incurring exploration expenditures at the Project (see ALX news release dated May 8, 2024).

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Brunswick Exploration Launches Multinational Exploration Campaign

Brunswick Exploration Launches Multinational Exploration Campaign

Brunswick Exploration Inc. (" BRW " or the " Company ") is pleased to announce that it has started a helicopter-supported prospecting campaign in Quebec with additional programs in Labrador and Greenland to begin in July and August 2024, respectively. BRW plans to systematically test hundreds of new and outcropping S-type pegmatite targets across its portfolio.

Mr. Killian Charles, President and CEO of BRW, commented: "While we continue to focus our efforts into the Mirage Project, we are thrilled to start new, ambitious grassroots initiatives throughout Eastern Canada and Greenland. These initiatives are a core pillar of BRW's strategy and, as the lithium industry remains ripe for new discoveries, we will continue to leverage our exploration expertise to rapidly identify new targets and explore in sound jurisdictions."

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