Try following, it solved my issue. Although my carrier was providing VoLTE but not everywhere.
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Sep 21, 2016 3:33 AM in response to Jaalwine
I have a fix! Turn off Voice over LTE.
Settings> Cellular> Cellular Data Options> Enable LTE> Data Only.
Voice over LTE (VoLTE) or Verizon HD Voice, is not available yet on all towers. When you have LTE set to 'Voice & Data' and the signal level drops to 1 bar, the iPhone 7 does an extensive search for a tower capable of VoLTE, and you lose GPS and get 'No Service' for 3-4 minutes until it finally gives up the search. Turn LTE to 'Data Only' and the phone does not drop cell or gps service. I confirmed this on my drive this morning. As soon as I went back and selected 'Voice & Data' the problem came back.
This problem has been driving me crazy and Apple is only offering the usual reset your phone and reinsert your SIM suggestions.
If you live in an area with a lot of VoLTE coverage, you are probably not experiencing this problem. Eventually they will fix this problem and you can enable 'Voice & Data.'
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