- La Higuerita, with highlight assays of 33.30-gpt gold / 1,550.00-gpt silver and 20.00-gpt gold / 895.00-gpt silver;
- La Nueva Victoria, with highlight assays of 9.73-gpt gold / 155.00-gpt silver and 3.54-gpt gold / 261.70-gpt silver;
- El Arrayan, with highlight assays of 12.35-gpt gold / 938.00-gpt silver and 2.68-gpt gold / 248.10-gpt silver;
- La Peñita, with highlight assays of 24.50-gpt gold / 1,300.00-gpt silver and 2.36-gpt gold / 138.30-gpt silver; and,
Detailed highlights from Gainey’s sampling program can be found here: http://www.gaineycapital.com/news/8-news/71-gainey-samples-up-to-33-30-gpt-gold-and-1-550-gpt-silver.html
Drilling Companies: Gainey is in negotiations with several successful drilling companies that have extensive experience with the geological structures that are prominent throughout Gainey’s El Colomo property. Gainey plans to engage a drilling team within the next 30 days in order to devise and begin executing a strategic drilling program.
Mineral Processing: Gainey continues to grow its operations at it’s wholly owned, 300-tpd processing centre. The Company will continue to sample and process mineralized materials for local mining groups like: Goldplay, Nayarit Mining, El Escobar, etc. The 50/50 profit-sharing agreements between Gainey and these groups offer the potential for near-term revenues. Profits received by Gainey will be used to supplement the Company’s exploration and drilling programs. Gainey will continue to look for more sampling and processing opportunities while the precious metals market recovers.
In addition, Gainey plans on sampling its own mineralized material from its El Colomo property by Q2 2016, which could offer ongoing revenues to fund future exploration and development initiatives.
Corporate Development: The recent surge in gold and silver prices has attracted significant interest from prominent mining and investment groups. These groups have visited Gainey’s El Colomo property for the following reasons:
- 1)192-km2 land package in a potentially high, gold and silver, mineralized zone;
- 2)Significant assay results from detailed sampling program (noted above);
- 3)Strong working agreement with the local Indian communities;
- 4)No security issues in this region of Mexico; and,
- 5)Infrastructure in place (water, power, labour force, roads, etc.)
Ocean Partners: Gainey has been working with Ocean Partners on an Off-Take Agreement (the “Agreement”) for the purchase of Gainey’s concentrate. Gainey will announce the terms of this Agreement in the near future. Ocean Partners of Connecticut, USA offers a complete range of trading services for miners, smelters, refiners and metal consumers around the world and provides numerous off-take agreements for some of the largest mining companies in Mexico, making them a very strategic group for Gainey to partner with.
David Coburn, CEO of Gainey, commented, "We’re pleased to announce that Gainey continues to find great opportunities at its El Colomo property despite the difficult precious metals market over the last several years. Gainey has taken full advantage of the current market conditions to develop a competitive and extensive drill program with some of the most renowned drilling companies in mining and exploration. Local communities, as well as local and federal governments throughout Mexico, have exhibited profound support in expediting Gainey’s exploration activities. Gainey remains to be a prominent exploration and mineral-processing company with a solid reputation in Mexico. We continue to move our projects forward in the most strategic and cost-effective manner and will continue to consistently create long-term shareholder value for many years to come.”
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.