VANCOUVER, BC / ACCESSWIRE / May 26, 2016 / Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) ("Gainey" or the "Company") is pleased to report that drilling will commence by the end of May 2016 at the El Colomo Gold-Silver Project (the "Project"), located in the Sierra Madre Occidental Trend in Western Mexico.
The Phase 1 drilling program will comprise between 2,000 and 5,800 meters of HQ diamond core drilling and will focus on the following four mineralized zones that have already been encountered by the Company:
- La Higuerita: highlight assays of 33.30-gpt gold / 1,550.00-gpt silver and 20.00-gpt gold / 895.00-gpt silver;
- La Nueva Victoria: highlight assays of 9.73-gpt gold / 155.00-gpt silver and 3.54-gpt gold / 261.70-gpt silver;
- El Arrayan: highlight assays of 12.35-gpt gold / 938.00-gpt silver and 2.68-gpt gold / 248.10-gpt silver;
- La Peñita: highlight assays of 24.50-gpt gold / 1,300.00-gpt silver and 2.36-gpt gold / 138.30-gpt silver
Gainey's field crew has been mobilized and preparation of the drill pads is underway. The Company expects the Phase 1 drilling program to commence prior to the end of May 2016.
David Coburn, CEO of Gainey, commented, "The commencement of the Phase 1 Drilling Program will target four out of the 21 high priority Mineralized Zones at El Colomo that have already been identified by the Company's technical team. Our most recent exploration activity on the Project, which includes assay results and detailed mapping, gives us reason to be optimistic that the anticipated results of our Phase 1 drilling program will be the foundation of building a great company."
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 192-km(2) 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 [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS
"David Coburn"
David Coburn, Chief Executive Officer
For information, please contact the Company:
Phone: 480-347-8904
E-mail: [email protected]
Website: www.gaineycapital.com
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.
SOURCE: Gainey Capital Corp.