Gainey Signs Letter of Intent to Acquire the 9200 Hectare La Minita Property, Sinaloa, Mexico
Gainey Signs Letter of Intent to Acquire the 9200 Hectare La Minita Property, Sinaloa, Mexico
VANCOUVER, BC / ACCESSWIRE / December 19, 2017 / Gainey Capital Corp. (TSX-V: GNC)
(OTC PINK: GNYPF) ("Gainey" or the "Company") is pleased to announce that it has entered into a non-
binding Letter of Intent ("LOI") with Asteria Mining Services, S.A.P.I. de CV of Mazatlán, Sinaloa
("AMS") to acquire 100% of the La Minita Copper /Gold/Silver Property ("La Minita" or "the property")
located in the state of Sinaloa, Mexico. The property is comprised of five mineral claims or applications
encompassing approximately 9,200 hectares located 80 kilometers to the southeast of Mazatlán. The
property borders Marlin Gold's La Trinidad mine property to the northeast and Agnico Eagle's El Coral
property to the southeast.
The La Minita property consists of a series of northwest trending shears that host copper/gold/silver
porphyry style mineralization associated with intermediate and felsic dikes. The shears are poorly
exposed but have been observed to extend for greater than 300 meters along strike and measure up to 10
meters in width. Over the last several years, local prospectors (gambusinos) have identified and excavated
a number of these shear zones at various locations over an area extending for 4.5 kilometers along strike
by up to 600 meters wide. Alteration and mineralization exposed in the workings includes fine
grained sericitic alteration, silicification, quartz stockworks and copper sulfides (bornite, chalcopyrite) as
disseminations and veins. The more intense mineralization is hosted in felsic and intermediate
composition dikes intruding the shears, indicating an intrusive related source of mineralization.
In 2015, a reconnaissance study and report was completed for AMS over portions of the 4.5
kilometer long trend. The study identified the Tio Alejo area centered along the northwestern extent of the
trend and the Los Camole area centered along the southeastern extent as being of highest importance
based on recent gambusino activity. Both areas exhibit a similar trend and style of mineralization. As part
of the program, 37 rock chip samples were collected from the workings. Sample locations, widths, and
assay results from the report were reviewed in the field with the supervising geologist and found to adhere
to acceptable standards and procedures.
Notable sample results from the Tio Alejo region include:
0.4 m of 3.98% Cu, 9.81 g/t Au and 125 g/t Ag
1.2 m of 2.15% Cu, 1.065 g/t Au and 35.4 g/t Ag
0.7 m of 2.89% Cu, 1.03 g/t Au and 72.2 g/t Ag
Notable sample results from the Los Camole region include:
0.3 m of 1.225% Cu, 3.96 g/t Au and 324 g/t Ag
1.3 m of 0.0396% Cu, 4.10 g/t Au and 2.2 g/t Ag
0.8 m of 0.301% Cu, 3.31 g/t Au and 20.9 g/t Ag
Brian Metzenheim, Gainey Capital's VP of Exploration commented, "The style of mineralization found in
the shears may represent the upper extents of a moderately sized porphyry deposit that could host
economic grades of copper, gold, and silver. I am encouraged by the regional distribution of the shears
and the consistency of grades and alteration hosted by them and look forward to initiating exploration
work on the project."
David Coburn, Gainey Capital's CEO stated, "Our technical team led by Brian Metzenheim have spent
the last several months on site and reviewing technical data from the property. We are excited to add La
Minita to El Colomo as part of our growing portfolio of exploration projects. The property is favorably
located amongst a number of other projects being advanced by companies such as Marlin Gold (TSXV:
MLN), Agnico Eagle (TSX: AEM), First Majestic Silver (TSX: FR), Starcore International Mines (TSX:
SAM), SSR Mining (TSX: SSRM), and Garibaldi Resources (TSXV: GGI)."
Terms of the agreement and proposed exploration plans for the property will be summarized in future
news releases.
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 accepts responsibility for the adequacy or
accuracy of this Release.
SOURCE: Gainey Capital Corp.