MMC News

Gainey Samples 40g/t Gold at Las Margaritas

February 07, 2019 Go to Location

Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to report that first-pass sampling on the main vein system on its newly-optioned Las Margaritas project in Durango, Mexico has confirmed the previously reported strike length of at least 1,500-1,600 metres (see Gainey news release of September 13, 2018) and obtained assays up to 40.0g/t gold.

Gainey CEO, David Coburn stated, “We are very encouraged by these early high-grade results.  We believe that the Las Margaritas system is the epicenter of the El Colomo Project and that, together, they represent a district-scale opportunity for the delineation of a gold epithermal vein system similar in setting to the many precious metal mines along the Sierra Madre belt.  Our technical team continues to push hard on mapping, sampling and analyzing the data, which will allow us to move forward with our planned drill program in the coming months.”

The preliminary sampling program at Las Margaritas yielded 42 samples consisting of chip samples from old pits, chip-channel samples across exposed veins and grab samples from old mine dumps.  Assays ranged from NIL to 40.0g/t gold, with 21 samples assaying more than 1.0g/t and 11 of those assaying more than 5.0g/t gold.  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 info@gaineycapital.com.

 

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: info@gaineycapital.com

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.

Original Article: https://gaineycapital.com/news/gainey-samples-40g-t-gold-at-las-margaritas/

 

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