VANCOUVER, BC / ACCESSWIRE / March 25, 2015 /Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) (“Gainey” or the “Company”) is pleased to announce 2015 exploration plans at its 100% owned El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico. To date, 21 high-grade gold and silver targets have been identified within a 1.5 square kilometer area with highly prolific targets along the La Nueva Victoria vein, intrusive-hosted La Higuerita zone and Las Minitas zone. Phase l of the exploration program will include:
- Stream sediment sampling of the entire 18,766-hectare property;
- Geological mapping and geochemical sampling over the most prospective areas found in the stream sediment survey, as well as over areas of historic production;
- Trenching in the above areas, then mapping and sampling of these trenches;
- Data compilation, interpretation and detailed drill target selection;
- Road access and drill pad construction for drilling; and,
- Diamond drilling of target areas defined in work above, totaling 3,000 – 5,000 meters.
Upon successful completion of Phase l of the exploration plan, a Phase ll program will be implemented to include follow up diamond drilling and geologic mapping as well as trenching and geochemistry of areas of dense mineralization. The follow up diamond drilling would focus on targets that have the greatest potential of containing minable resources. The exploration program would include bulk sampling and analysis of highly mineralized zones, which would be processed through our 300 tpd mill.
David Coburn, CEO of Gainey Capital commented, “As of March 2015, the company is comfortably positioned with $2.3 million in the treasury per Q3 financial filings filed January 2015. We are pleased to commence Phase 1 of our exploration program budgeted at $535,000. Moving forward, we will further define highly mineralized zones that will be processed at our 300 tpd gravimetric and flotation-processing center. In addition, we’ll target new, high-grade mineralized zones on our property, which could constitute Gainey Capital as a district play within the Sierra Madre Occidental Zone.“
El Colomo Project
El Colomo is a highly prospective 18,766-hectare property with district-scale potential in a multi-million ounce gold and silver district. High-grade and bulk tonnage targets have already been identified through prior exploration and there are very strong indications of continuity between La Higuerita, La Nueva Victoria and Las Minitas (at least 2 km in strike length).