Gainey (TSXV: $GNC; OTCQX:
$GNYPF) Continues to Drill New Zones at La Higuerita Within the 'El Colomo
Gold-Silver Project' in Mexico
Vancouver, British Columbia - October 13, 2016
(Investorideas.com Newswire) Gainey Capital Corp. (TSXV: GNC; OTCQX: GNYPF) is pleased to announce the continuation of the
Company's Phase 1 drilling program of an additional three holes at the 'La
Higuerita Gold-Silver mineralized zone' ("La Higuerita") located in
the Sierra Madre Occidental Trend in Western Mexico.
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. The
Company is currently in the process of drill testing at La Higuerita which has
encountered the following surface samples, located in Table 1 below, that appear
on the Gainey news release disseminated on October 06, 2015:
Surface Sample Highlights:
Gainey
recently announced the drilling results from the ‘La Nueva Victoria mineralized
zone' which can be seen in Table's 2 and 3 below:
Surface Sample Highlights:
*Au
Equivalent calculated using a price of $1,300 US/oz for gold and $18 US/oz for
silver.
*Au
Equivalent calculated using a price of $1,300 US/oz for gold and $18 US/oz for
silver.
Rafael Gallardo, Senior Geologist of Minera
Cascabel S.A. de C.V., who is leading the drill program, commented, "The
target of ‘La Higuerita mineralized zone' host the same characteristics of
mineralization and alteration as was encountered at the La Nueva Victoria
target and all three zones are part of the Golden Corridor. These two targets
have strong potential to find veins of high grade values hosted in felsic dykes
and permeable lithic tuff. We are very excited to drill these two additional
targets."
David Coburn, CEO of Gainey, commented, "we
are very encouraged by the success and drill results that have been encountered
at the near-surface, La Nueva Victoria mineralized zone. As we continue to move
forward with our Phase 1 drilling program on La Higuerita, we are most
encouraged by the fact that the Company's El Colomo Project hosts a further 19,
drill-ready, prospective gold-silver mineralized zones that Gainey plans on
drill-testing in the near future."
El Colomo Property
El Colomo is a highly prospective, 187 km2 property
with district-scale gold-silver potential located within the ‘Golden Corridor'
in Sierra Madre, Mexico. High-grade and bulk tonnage targets have already been
identified through prior exploration and there are strong indications of
continuity between La Higuerita, La Nueva Victoria and El Arrayan (at least 2
km in strike length).
97% of this 18,766-hectare project has not been
explored using modern concepts & technology. All 21 mineralized zones
identified to date are located in the central portion of the property and
within a 1.5 km radius of each other.
Qualified Person
David Hladky, P. Geo. is the
Qualified Person with respect to NI 43-101 at El Colomo.
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 center,
located outside of Huajicori, in Nayarit, Mexico, is capable of processing up
to 300 tons of mineralized material per day and the company has 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:
Phone: 480-347-8904
FORWARD LOOKING STATEMENTS: This press release may contain
forward-looking statements. Forward-looking statements are statements that are
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“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”,
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“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
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