VANCOUVER, BC / ACCESSWIRE / April 9, 2015 / Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) ("Gainey" or the "Company") is pleased to announce that it has signed a Confidentiality Agreement and Letter of Intent with Goldplay Exploration Ltd. (“Goldplay”) and is receiving mineralized material from one of Goldplay’s gold properties, which is located in the Rosario mining district in the State of Sinaloa, Mexico.
Goldplay is a Vancouver based, privately held, mineral exploration company with significant concession holdings in a prolific gold and silver mining belt in western Mexico that includes historical mines like the Rosario Mine (currently held by Peñoles), and operational mines such as La Trinidad Mine (Marlin Gold). Several multimillion ounce gold deposits exist in the Seirra Nevadas in this part of Mexico and include: Tayoltita (Primero), La Sienaga (Fresnillo) and Metates (Chesapeake). Goldplay is lead by geologist’s Freeman Smith and Frank Powell who have a record of recent discoveries throughout Latin America.
Goldplay’s properties are located in close proximity and easily accessible by road to Gainey’s 100%-owned processing centre. Gainey is receiving mineralized material to be bulk-sampled at the Company’s 300 tpd processing centre, which is the only one in the region with gravity and flotation circuits for optimized returns. Material processing allows Gainey to maintain its cash flow positive status in order to fund future exploration of the Company’s own assets.
Freeman Smith, President of Goldplay, commented, “We are lucky to have access to such an advanced processing centre in the Rosario mining district and are excited to work with Gainey to sample and process our materials as we are confident that the immediate synergies will translate into profits for all shareholders.”
David Coburn, CEO of Gainey Capital, commented, “Last week Goldplay toured Gainey’s processing centre at Huajicori and is expediting material. Gainey is very excited to be working with Goldplay’s team who has over 30 years of experience working throughout the Rosario mining district. This collaboration presents the opportunity to connect Gainey with other mining groups in the area, which could translate into a consistent flow of mineralized materials to our processing centre in the months and years to come.”
Map showing the proximity of Goldplay to Gainey’s processing centre: http://gaineycapital.com/images/Gainey-Properties-NW-Mexico-New.jpg
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.