Gainey (TSXV: $GNC.V; OTCQX:
$GNYPF) Exploration Update; Completion of first three Diamond Drill holes at
the El Colomo Gold-Silver Project in Mexico
Vancouver,
British Columbia - September 20, 2016 (Investorideas.com Newswire) Gainey
Capital Corp. (TSXV: GNC; OTCQX: GNYPF) recently reported that the Phase 1
Drilling campaign has completed the first three Diamond Drill holes at the El
Colomo Gold-Silver Project in Mexico. The first of the three holes targeting
the La Nueva Victoria Mineralized Zone has been sampled and shipped to ALS Labs
Vancouver, BC for analysis and the other two holes are currently being processed
at the Company’s core logging facility to be submitted shortly. Preliminary
results from these drill holes are anticipated within the next few weeks.
Furthermore,
the Company is pleased to announce that the program continues to advance with
the commencement of drilling on the first of four targets at the La
Higuerita/El Arrayan Mineralized Zones.
Gainey’s
exploration team, led by Rafael Gallardo of Minera Cascabel S.A. de C.V., notes
that though they have encountered two serious weather systems in the region,
the program has not met any serious delays, and drilling progress has continued
on the target zones. David Coburn, CEO of Gainey, commented, "we are
looking forward to the first set of drilling results over the next 2-3 weeks.
The Exploration Team has done an excellent job meeting their objectives given
they have encountered challenging weather conditions."
The
Company recently upgraded its exploration team with the addition of David
Hladky, P.Geo. to the Technical Advisory Board, who is also the Company’s
acting Qualified Person as defined by NI 43-101, please see the Company’s news
release on July 26, 2016 for full details. Mr. Hladky’s previous position was
with Cayden Resources Inc. as the Qualified Person and one of the leaders in
the exploration of the Morelos Sur and El Barqueno projects in Mexico, that
were successfully sold to Agnico Eagle Mines for $205 Million in 2014.
The
Company also reports the grant of up to an aggregate 2.5 million common share
purchase options, exercisable at a price of $0.20 per share, to its directors,
officers, employees and consultants.
About Gainey Capital Corp.
Gainey
Capital is a gold and silver exploration, development and mineral processing
company exploring an aggregate of 192-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 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:
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Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
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result of new information, future events or otherwise.
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