Gainey Announces Phase II Exploration Program At El Colomo
VANCOUVER, BC / ACCESSWIRE / October 4, 2017 / Gainey Capital Corp. (GNC.V) (OTC PINK: GNYPF) ("Gainey" or the "Company") is pleased to announce that as of October 15, 2017, the Company will commence its Phase II exploration program at the El Colomo Gold-Silver project ("El Colomo") in the States of Nayarit and Durango, Mexico. The Phase II program will be divided into four stages, as follows:
Detailed mapping program along the known Golden Corridor, paying particular focus on the El Arrayan, Las Minitas, La Bufa and El Guayabo mineralized zones, located 1.2 km to the south-southeast of the La Nueva Victoria and La Higuerita mineralized zones which have been drill tested by Gainey and have encountered gold and silver mineralization.
Detailed mapping and rock chip sampling to the north of El Colomo's Golden Corridor where four anomoulous gold showings have been identified through the Company's stream sediment sampling program. Highlights from this program include anomoulous gold values of 129 ppb ("parts per billion"), 115 ppb, 74 and 75 ppb.
These results were encountered in the State of Durango in an area 1.5 km wide by 2.5 km long of strongly argillically-altered and iron-stained volcanic rocks cut by multiple northwest-trending quartz veins. These altered areas, called Las Lajitas-Masparillo, El Verano-Los Aguacates y El Corpo-Encino Prieto, appear to be on-strike with, and maybe an extension of, a 2.5 to 4 km to the Northwest of the mineralized called the Golden Corridor which includes the La Nueva Victoria, La Higuerita, El Arrayan-Las Minitas and La Bufa-El Guayabo mineralized zones.
Stream sediment sampling to the west-northwest of the known Golden Corridor where the Company has completed exploration work on more than 3,000 hectares including mapping, sampling, and drilling.
Drilling program of approximately 3,000 m testing the targets at El Arrayan-Las Minitas and La Bufa-El Guayabo mineralized zones.
Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the exploration program, stated "After encountering positive mineralization throughout our Phase I exploration program, our technical team has a deeper understanding of the geology surrounding the known gold-silver epithermal systems present throughout the El Colomo project. The exploration that was completed within Phase I has allowed us to define multiple, new targets which we are looking forward to expose."
Technical aspects of this news release have been reviewed and approved by David Dupre P.Geo., designated as a qualified person under National Instrument 43-101.
About Gainey Capital Corp.
www.gaineycapital.com or from email@example.com." data-react="" type="text">Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 187 sq kms strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The company's processing centre, located outside of Huajicori, in Nayarit, Mexico, is capable of processing up to 300 tons of mineralized material per day with the capability to upgrade to 600 tons per day with a low capital expenditure. Additional information on Gainey Capital, its current operations, and its vision is available on the Company's website at www.gaineycapital.com or from firstname.lastname@example.org.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer" data-react="" type="text">"David Coburn"
David Coburn, Chief Executive Officer
For information, please contact the Company:
FORWARD-LOOKING STATEMENTS: This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
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