GMV Minerals has secured federal drill permits for its 100 per cent-owned Mexican Hat gold project in south-east Arizona, clearing the way for a new phase of resource definition drilling in early spring 2026.
The permits were issued by the US Bureau of Land Management (BLM), subject to the posting and acceptance of required reclamation bonding and a financial guarantee, allowing the company to advance the open-pittable gold project toward potential near-term production.
GMV has selected Harris Exploration Drilling to carry out the upcoming campaign, with the contractor to drill approximately 35 holes, totalling about 7,300m of diamond drill core on the Mexican Hat property.
The work will form the next phase of systematic drilling across the deposit and is expected to start in early spring 2026, aligning with favourable seasonal conditions in Cochise County, about 117km south-east of Tucson.
The diamond drill programme has been designed in consultation with technical advisors DRW Geological Consultants and RESPEC, and aims to test the existing resource at multiple locations while tightening geological control across the 1,200m-long mineralised trend.
Planned drilling will target all zones on an approximately 100m×100m pattern, extending up to 100m below the depth of the modelled open pit to confirm grade variability and support upgrades to the current mineral resource categories.
Geomechanical measurements will be collected from the new core to support pit optimisation studies and refine mine design parameters.
The principal controlling structure at Mexican Hat has previously been drilled from surface, where it dips at about 59° to a depth of 250m before flattening to roughly 24°, while subsidiary splays, designated zones one to six, extend up to 220m into the hanging wall and will also be systematically evaluated.
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.”
The company recently reported a positive preliminary economic assessment, outlining an open-pit, heap-leach style operation with a projected mine life of around 10 years and average annual production in the tens of thousands of ounces of gold, subject to further study refinements.
Mexican Hat, located in Cochise County, approximately 72 miles east-southeast of Tucson, covers about 4,800 acres of claims and leases and is considered one of the more advanced open-pit gold development opportunities in the region.
The project was initially explored by Placer Dome (USA) in the late 1980s and early 1990s, providing a substantial historical data set that GMV has used to guide modern drilling and modelling.
GMV’s current focus is on advancing Mexican Hat toward near-term gold production, underpinned by an NI 43-101 inferred mineral resource of 36,733,000 tonnes grading 0.58g/t gold at a 0.2g/t cut-off, for 688,000oz of contained gold, effective 8 August 2025.
The company is listed on the TSX-V under the symbol GMV and trades on the OTCQB as GMVMF, providing investors with leverage to a de-risking gold development story in a mature US mining jurisdiction.
