Gainey Capital Corporation - Provides Corporate Exploration Update
09.01.2017 | Accesswire
VANCOUVER, January 9, 2017 / Gainey Capital Corp. (TSX-V: GNC) (OTC PINK: GNYPF) ("Gainey" or the "Company") is pleased to announce that the Company's Phase 1 drill program is progressing and has been expanded at the El Colomo Gold-Silver project ("El Colomo") located in the Sierra Madre Occidental Trend in Western Mexico. The drilling is focused on the La Higuerita mineralized zone ("La Higuerita") and the La Nueva Victoria Mineralized zone ('La Nueva Victoria') which are two of the Company's 21 known mineralized zones within El Colomo.As reported in the Company's news release on October 13, 2016, the drilling of three additional drill holes targeting La Higuerita was announced, two of which have been completed, sampled and shipped to ALS Chemex Labs in Vancouver, BC for analysis and the remaining drill hole is currently in progress.
The La Higuerita mineralized zone is located approximately 250 meters northeast of La Nueva Victoria, from which Gainey drill tested and released assay results on September 29, 2016 and October 04, 2016 (see Table 1 below).
Further, due to the positive results received at La Nueva Victoria in Q4 2016 (see Table 1 below), the Company is planning to drill an additional four holes, along the La Nueva Victoria trend, 140 meters to the northeast of holes DHEC160001-3, and in between the La Nueva Victoria and La Higuerita zones.
Table 1 – Previously released drill results from the La Nueva Victoria Zone:
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*Au Equivalent calculated using a price of $1,300 US/oz for gold and $18 US/oz for silver.
David Coburn, CEO of Gainey Capital, commented, "We are pleased with the drilling progress thus far on La Higuerita and we are looking forward to the first set of results from this zone to be disseminated in early 2017."
La Higuerita is a part of Gainey's 100% owned, 187 km2 El Colomo Gold-Silver project that hosts 21 highly prospective, gold-silver mineralized zones located within the Sierra Madre Golden Belt, Mexico.
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 187-km2 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 info@gaineycapital.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"David Coburn"
David Coburn, Chief Executive Officer
For information, please contact the Company:
Gainey Capital Corp.
Phone: 480-347-8904
E-mail: info@gaineycapital.com
Website: www.gaineycapital.com
Qualified Person
David Hladky, P. Geo. is the Qualified Person with respect to NI 43-101 at El Colomo and has approved the content of this news release.
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.