Demand proving strong for Gainey mill's optimized gold and silver recovery rates
Vancouver, BC / ACCESSWIRE / September 9, 2014 / Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) ("Gainey" or the "Company") is pleased to announce receipt of $240,000 USD in deposits from independent, private mining companies at its 300-tpd (tons per day) mill in the prolific gold/silver Sierra Madre region of Western Mexico. The Gainey mill is the only one in the region to include a gravimetric/flotation processing center, which optimizes gold and silver recovery rates. The company now has several months of ore from regional mining companies stockpiled at the mill.
The mill's operational team is run by Gainey Operations Manager, George Cantua, who previously supervised Barrick Gold's 24,000-tpd mill in the Dominican Republic.
David Coburn, CEO of Gainey Capital, commented, "Demand for our ore processing services is proving to be very strong and negotiations are taking place with a number of additional mining companies. With the only gravimetric/flotation processing center in the area we have a distinct advantage in productivity and costs. In the event that demand continues to grow, we have the ability to upgrade the mill to 600 tpd with minimal incremental capital and without any need for additional permitting."
"We are also in the process of developing the exploration program for our tremendously prospective 18,766 Hectare, El Colomo gold and silver project, which has a number of high-priority drill targets already established. Exploration will be headed up by renowned geologist, Peter Megaw and his company Minera Cascabel." Added Coburn.
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and ore processing company exploring an aggregate of 18,766 hectares strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The company's Mill, located on its El Colomo property property, is capable of processing up to 300 tons of ore per day. 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: 604-484-5144
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.