VANCOUVER, BC / ACCESSWIRE / June 18, 2019 / Gainey Capital Corp. (TSX-V: GNC) (OTC PINK: GNYPF) ("Gainey" or the "Company") is pleased to announce the advancement of their upcoming drilling program at the Las Margaritas gold project in Durango, Mexico. As previously announced on April 10, 2019, Gainey has been approved by the Mexican Environmental Agency (SEMARNAT) to drill up to 32 drill targets on the property. In this initial phase, Gainey will drill at least 16 drill targets in approximately 2190 meters (see map link).
This drill program has been designed by Gainey's highly experienced exploration team to focus on the best mineralization exposed on surface, where assays have returned up to 73.7 g/t gold (see Gainey news release dated March 19, 2019). Gold mineralization at Las Margaritas is typical of a low sulphidation epithermal system, as is common throughout this prolific geologic belt known as the Sierra Madre Occidental.
David Coburn, Gainey CEO, stated, "We are excited about the high gold grades obtained in our surface sampling program and the fact that Las Margaritas has never been drilled. Our exploration team has been optimizing our drill program to test the down-dip and strike continuity of the mineralization and we are now ready to move forward. Discussions with drilling contractors are underway and mobilization of equipment is expected to begin in the coming weeks."
David Dupre, P.Geo. is the designated Qualified Person for the El Colomo Project, as defined by National Instrument 43-101, and has approved this news release.
About Gainey Capital Corp.
Gainey is a gold and silver exploration, development and ore processing company exploring an aggregate of 14,000+ 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, is capable of processing up to 300 tons of ore per day. Additional information on Gainey, 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, Chief Executive Officer
For information, please contact the Company:
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.
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SOURCE: Gainey Capital Corp.