Gainey Announces Field Review of the El Colomo Project by VP Exploration and Completion of the Initial Portion of the Phase II Exploration Program
VANCOUVER, BC / ACCESSWIRE / December 12, 2017 / Gainey Capital Corp. (TSX-V: GNC) (OTC PINK: GNYPF) ("Gainey" or the "Company") is pleased to announce the completion of a project review by Gainey\'s recently appointed VP Exploration, Brian Metzenheim. Further, Gainey announces the completion of the mapping and sampling portion of the Phase II exploration program at the El Colomo Gold-Silver project ("El Colomo") located in the States of Nayarit and Durango, Mexico.
During the latter half of October, Mr. Metzenheim toured the El Colomo property, reviewed work completed to date, and evaluated work proposed as part of the Phase II exploration program. Details of the Phase II program at El Colomo were outlined in the news release dated October 3, 2017. The tour included a review of the previously drilled La Nueva Victoria and La Higuerita zones and related drill core, field review of the El Arrayan, Las Minitas, La Bufa, and El Guayabo zones, and an overview of the exploration potential to the north and northwest of the Golden Corridor, where prior reconnaissance stream sediment sampling has identified several drainage basins with anomalous gold. Rafael Gallardo, Senior Geologist with Minera Cascabel S.A. de C.V., led the tour and has directed exploration work on the project in the past.
Following the field review of the El Colomo project and exploration work, Brian Metzenheim commented, "Rafael and his group have done an exceptional job advancing the project and bringing targets to the drill stage." Regarding the potential on the El Colomo property, he stated, "I am encouraged by the presence of an extensive mineralized system that hosts significant precious metal grades. The next step is to define and expand the most favorable portions of the system and build on past exploration success."
In conjunction with the project review by Mr. Metzenheim, field crews from Minera Cascabel were mobilized to the project and completed geologic mapping, rock chip sampling, and stream sediment sampling. The work was designed to elevate zones within the Golden Corridor to the drill stage, identify additional mineralized zones outside the Golden Corridor, and to evaluate large areas of the company\'s claims where no known modern exploration work has been carried out. The majority of the program was carried out as planned, though a portion of the reconnaissance work had to be postponed due to high water flows in the larger arroyos and rivers following the rainy season. A total of 64 rock chip and 13 stream sediment samples were collected. Fieldwork was finalized in early November, and assay results have now been received. Results will be released once they have been assembled and reviewed in conjunction with prior exploration work.
In addition to advancing the El Colomo project, the company has also been actively reviewing projects located throughout western Mexico with the goal of acquiring additional properties to add to the company\'s exploration pipeline. Projects are being considered on the basis of exploration potential and acquisition costs to minimize risk to capital while ensuring a reasonable probability of identifying an economic deposit.
Brian Metzenheim, Vice President Exploration, Gainey Capital Corp. is the Company\'s Qualified Person as defined by NI 43-101 and has reviewed and approved the technical information in this news release.
About Gainey Capital Corp.
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
For information, please contact the Company:
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.
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SOURCE: Gainey Capital Corp.
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