Gainey Extends Strike of GOLD Mineralization and Samples up to 73.7G/T GOLD at Las Margaritas
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TSXV: GNC / OTC: GNYPF March 19, 2019
GAINEY EXTENDS STRIKE OF GOLD MINERALIZATION AND SAMPLES UP TO 73.7G/T GOLD AT
LAS MARGARITAS
Vancouver, BC - Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to report that
follow-up mapping and sampling at its newly -optioned Las Margaritas project in Durango, Mexico has extended the strike
extent of the main vein system to approximately 3,500 metr es and collected grab samples with assays of up to 73.7g/t gold.
As previously reported (see Gainey news release of February 7, 2019), preliminary sampling obtained assays up to 40.0g/t
gold from grab samples, indicating the locally high-grade nature of the mineralization.
A total of 39 samples were collected during the Phase II program at Las Margaritas, consisting of chip samples from old pits,
chip-channel samples across exposed veins and grab samples from old mine dumps. The best mineralization appears to occur
along a strike length of approximately 1,750 metres, where 25 assays ranged from NIL to 73.7g/t gold, with 15 samples
assaying more than 1.0g/t gold and 6 of those assaying more than 5.0g/t gold.
“The Phase II sampling at Las Margaritas i s demonstrating excellent continuity of gold mineralization along strike,” stated
Gainey CEO, David Coburn. “This is allowing the field team to focus on the most prospective areas in order to begin
generating drill targets. While there are several artisa nal mine workings along the vein system, it has never been drilled and
we look forward to testing the vertical continuity of the gold mineralization.”
The Las Margaritas vein system strikes northwest -southeast and dips moderately to steeply southwest, wi th variable widths
up to two metres. The 1,750 metre mineralized strike length has been divided into the Northwest (NW) and Southeast (SE)
Zones according to geological characteristics. The NW Zone trends N15°W and is hosted in a crystal tuff unit near the contact
with an overlying rhyolitic lithic tuff. The SE Zone strikes N45°W and is hosted within a package of stratified volcanic flo ws
and tuffs. The change in strike direction coincides with the transition between host lithologies and could be impor tant in
localizing gold mineralization. Host rocks are commonly clay -altered and/ or silicified. Gold mineralization occurs within
druzy quartz veins, veinlets and stockworks with up to 3% disseminated pyrite, typical of a low sulphidation epithermal
system, as is common throughout the prolific geologic belt known as the Sierra Madre Occidental.
Gainey’s Exploration Manager, Jorge Rafael Gallardo commented that, "this recent work shows that early stage mapping and
prospecting in underexplored areas can d ramatically increase the strike length of mineralized vein systems. We have
furthered our understanding of the mineralization controls and this will allow more focused work in the future."
Gainey follows a strict QC/QA protocol for sampling and transportation of samples to ALS Labs in Hermosillo, Mexico and
then on to ALS Labs in Vancouver, BC. Canada.
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”
David Coburn, Chief Executive Officer
2
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 ar e 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 th e 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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has reviewed or accepts responsibility for the adequacy or accuracy of this Release.