Vancouver, BC – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce that it has received approval from the Mexican Environmental Agency (“SEMARNAT”) to drill up to 32 holes at it’s newly optioned Las Margaritas mineral concessions in Durango, Mexico.
David Coburn, President and CEO commented “the approval by SEMARNAT is a significant step in advancing the exploration at the El Colomo Project and proving out the continuity of the gold mineralization from the Golden Zone in Nayarit to Las Margaritas in Durango, a distance of approximately 8 kilometres. The vein system at Las Margaritas has never been drill-tested and Gainey will be outlining a more detailed exploration/drilling strategy in the very near future.”
The upcoming drill program at Las Margaritas will focus on the best mineralization exposed on surface, where assays have returned up to 73.7 g/t gold (see Gainey news release dated 2019). Gold mineralization is typical of a low sulphidation epithermal system, as is common throughout this prolific geologic belt known as the Sierra Madre Occidental.
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
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.
