Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that it has engaged Ore Drilling S de RL de CV of Hermosillo, Mexico as the contractor for its diamond drilling program at the Las Margaritas gold project in Durango. The Company has finalized the preparation of the infrastructure required including the repair and construction of approximately 39 kilometres of road and a water reservoir system to support the drilling.
Gainey has been approved by the Mexican Environmental Agency (SEMARNAT) to drill up to 32 targets on the property and this initial phase will comprise of at least 16 drill targets in approximately 2,190 meters (see map link) focused on the best mineralization exposed on surface, where assays have returned up to 73.7 g/t gold (see Gainey news release dated April 10, 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 to commence the first ever drill program at Las Margaritas. This first pass should give us a good understanding of the style of the gold mineralization, from which we will be better positioned to follow up with additional drilling.”
David Dupre, P.Geo. is Gainey Capital’s Qualified Person (“QP”) (as defined by National Instrument 43-101) and the QP for the Las Margaritas Project, 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:
E-mail: [email protected]
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.