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TSXV:GNC

Gainey Capital Corp. (TSXV:GNC) announced an update regarding important progress on the Company’s exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico.

Gainey Capital Corp. (TSXV:GNC) announced an update regarding important progress on the Company’s exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico.
As quoted in the press release:

Gainey has maintained a low monthly burn rate over the past 24-months while gold prices have dropped as low as USD$1050/oz. this year. Gainey continues to be a strong exploration and mineral-processing company and has continued to find significant opportunity during the difficult precious metals market over the past several years.
Exploration Program: Gainey reported positive results from its initial mapping and sampling programs at El Colomo, which showed high-grade gold and silver from mineralized structural zones as well as lower grade mineralization with potential bulk tonnage in the host wall rock.
Gainey discovered a new high-grade mineral zone at El Colomo that carries a vein structure of 4 to 7 km in length, which may be the northern extension of an area of known mineralization called the “Golden Corridor.” Analytical results from the structure include 24.50-gpt gold / 1,300.00-gpt silver. The Company will begin detailed mapping of this particular mineralized zone and will announce details as the program is finalized.
Drill Program: Results from Gainey’s mapping and sampling programs have helped to identify priority drill targets for Gainey’s Phase 1 drill program that is to commence Q2 2016. 5 high-priority mineralized zones have been identified at El Colomo and Gainey plans on drilling between 2,200 to 5,800 meters in these areas this year.
Gainey’s renowned geologists: Larry Segerstrom, Director and QP of Gainey, and Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V. (“Cascabel”), have signed-off on 21 priority drill targets totalling 5,800 meters, which could be divided into various tranches. These targets are within mineralized zones at El Colomo, which include:

  • La Higuerita, with highlight assays of 33.30-gpt gold / 1,550.00-gpt silver and 20.00-gpt gold / 895.00-gpt silver;
  • La Nueva Victoria, with highlight assays of 9.73-gpt gold / 155.00-gpt silver and 3.54-gpt gold / 261.70-gpt silver;
  • El Arrayan, with highlight assays of 12.35-gpt gold / 938.00-gpt silver and 2.68-gpt gold / 248.10-gpt silver;
  • La Peñita, with highlight assays of 24.50-gpt gold / 1,300.00-gpt silver and 2.36-gpt gold / 138.30-gpt silver; and,
  •  El Guayavo, with highlight assays of 7.39-gpt gold / 956.00-gpt silver and 1.60-gpt gold / 42.30-gpt silver.

Gainey Capital CEO, David Coburn, stated:

We’re pleased to announce that Gainey continues to find great opportunities at its El Colomo property despite the difficult precious metals market over the last several years. Gainey has taken full advantage of the current market conditions to develop a competitive and extensive drill program with some of the most renowned drilling companies in mining and exploration. Local communities, as well as local and federal governments throughout Mexico, have exhibited profound support in expediting Gainey’s exploration activities. Gainey remains to be a prominent exploration and mineral-processing company with a solid reputation in Mexico. We continue to move our projects forward in the most strategic and cost-effective manner and will continue to consistently create long-term shareholder value for many years to come.

Connect with Gainey Capital Corp. (TSXV:GNC) to receive an Investor Presentation.

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