October 6, 2015 – Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) (“Gainey” or the “Company”) is pleased to announce that it has it has received the assay results from its detailed sampling of the ‘Golden Corridor’ at its El Colomo project. The Golden Corridor is a northerly-trending area, 3.5-kms long by 1-km wide, with multiple exposures of sub-parallel mineralized structural zones associated with at least two dome-like felsic intrusions that are hosted by andesitic rocks. Six known mineralized zones are exposed in the Golden Corridor, and it appears to be open along strike. The known zones are La Nueva Victoria, El Arrayan, La Higuerita, La Bufa, La Peñita and El Guayavo.
A total of 266 samples were taken at the Golden Corridor. The width of these samples varies from 0.15 to 3.0-m wide. Highlights from the sampling of these mineralized zones include:
HIGHLIGHTS OF ASSAY RESULTS FROM DETAILED SAMPLING OF THE ‘GOLDEN ZONE’ | ||||
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SAMPLE NUMBERS | SAMPLE WIDTH (Mts) | DESCRIPTION | Au (ppm) | Ag (ppm) |
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| La Peñita |
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191229 – 191230 | 1.65 | La Peñita structure with footwall of brecciated rhyolitic intrusive rock | 2.36 | 138.3 |
Including | 0.15 | Center of La Peñita structure | 24.50 | 1,300.0 |
191309 – 191310 | 2.30 | Northern part of La Peñita structure with footwall of brecciated rhyolitic intrusive rock | 0.76 | 13.2 |
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| La Higuerita |
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191416 – 191417 | 3.00 | La Higuerita structure with hanging wall | 6.70 | 300.3 |
Including | 1.00 | Center of La Higuerita structure | 20.00 | 895.0 |
191381 – 191383 | 3.40 | La Higuerita structure with hanging- and foot-wall | 4.24 | 189.6 |
Including | 0.40 | Center of La Higuerita structure | 3.30 | 1,550.0 |
191357 – 191358 | 4.00 | Brecciated rhyodacitic intrusive (dome) | 2.96 | 120.5 |
191466 – 191468 | 3.10 | Brecciated rhyodacitic intrusive (dome) | 1.18 | 138.1 |
191376 – 191378 | 1.80 | Brecciated rhyodacitic intrusive (dome) | 1.85 | 196.1 |
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| La Nueva Victoria |
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191124 – 191133 | 17.10 | La Nueva Victoria Structure and adjacent hanging wall rock | 1.75 | 125.9 |
Including | 4.20 | Center of La Nueva Victoria Structure | 3.54 | 261.7 |
191116 | 2.60 | Brecciated rhyodacitic intrusive (dome) | 9.73 | 155.0 |
191080 – 191085 | 11.50 | Brecciated rhyodacitic intrusive (dome) | 0.73 | 55.8 |
191117 – 191119 | 6.50 | Brecciated rhyodacitic intrusive (dome) | 1.81 | 90.7 |
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| El Arrayan |
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191328 | 1.00 | El Arrayan mineralized structure | 12.35 | 938.0 |
191335 – 191339 | 10.00 | El Arrayan mineralized structure and Hanging Wall | 1.30 | 131.3 |
Including | 3.50 | El Arrayan mineralized structure | 2.68 | 248.1 |
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| La Bufa – El Guayavo |
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191316 – 191317 | 2.00 | El Gayavo mineralized structure | 1.60 | 42.3 |
191318 – 191320 | 3.50 | E Guayavo mineralized structure (25 meters southwest of above outcrop) | 0.65 | 52.0 |
191311 – 191315 | 5.90 | La Bufa mineralized structure | 0.23 | 21.4 |
191475 | 0.35 | Mineralized structure south of El Arrayan | 7.39 | 956.0 |
To review sample results and geologic maps with the location of the samples, please visit: www.gaineycapital.com.
These mineralized outcrops in the Golden Corridor are comprised of veins, breccias, stockwork and disseminations, which are principally hosted by hydrothermally altered, rhyodacitic intrusive rock with quartz phenocrysts. This intrusive rock forms dikes as well as at least two domes and is hosted by andesitic volcanic rocks.
Larry Segerstrom, Gainey Capital’s QP, commented, “The pervasive veining, argillic and silicic alteration, and size of the intrusive-hosted mineralized area suggests the presence of a strong hydrothermal system with the potential for large volumes of low-grade gold-silver mineralization at shallow depths. This potential for bulk tonnage will begin to be tested by diamond drilling in early 2016.”
Rafael Gallardo, Senior Geologist of Minera Cascabel that led the recent work, commented, “The field data and geochemical results obtained in this detailed mapping and sampling program suggest that the dikes that host the mineralization at La Nueva Victoria and El Arrayan may be connected at depth with the domes at La Higuerita and La Bufa. This represents a significant potential for a low-grade, high-tonnage deposit.”
David Coburn, Gainey Capital’s CEO, commented, "Results from our detailed surface mapping program have shown high grade gold-silver from mineralized structural zones as well as lower grade with potential bulk tonnage in the host wall rock. Our geology team is very excited with the results from this Phase 1 detailed mapping program and we will continue with our mapping of the central part of the El Colomo property which contains 15 unmapped, historic prospects and small mine workings outside the Golden Corridor."
The Golden Corridor was mapped and sampled in detail with the aim of identifying priority drill targets for Gainey’s Phase 1 drill program commencing in early 2016.
Qualified Person
Lawrence Segerstrom, a Director of the Gainey Capital Corp. and a Qualified Person under NI-43-101, reviewed and approves the content of this release.
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 192-km2 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 and the company has 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.
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