Gainey Announces Field Review of the El Colomo Project by VP Exploration and Completion of the Initial Portion of the Phase II Exploration Program
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 [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 accepted responsibility for the adequacy or
accuracy of this Release.
SOURCE: Gainey Capital Corp.