Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (“Gainey” or the “Company”) is pleased to announce the commencement of its Phase 1 exploration program at the newly optioned (subject to approval by the TSX-V) Las Margaritas gold/silver project in the State of Durango, Mexico. The exploration program will be led by senior geologist, Rafael Gallardo, of Minera Cascabel S.A. de C.V., and his team of geologists who have been working in the area for the past 4 years.
The Servicio Geologico Mexicano (Mexican Geological Survey) and First Mining Gold Corp. originally identified a mineralized vein system on the Las Margaritas property. This system extends at least 1500 meters along strike and averages approximately 1 to 2 meters in width. Phase 1 of Gainey’s exploration program will include detailed mapping and sampling of the vein system. The objective of program is to identify prospective zones that provide the best drill targets. Rafael Gallardo stated “My geology team from Cascabel is excited that Gainey Capital has optioned the Las Margaritas property as we feel this is the epicenter of the mineralized zone at El Colomo and on strike with the Golden Zone.”
David Coburn, Gainey Capital’s CEO commented “We are hoping to have initial assay results back from the Las Margaritas Phase 1 Exploration in late September or early October and will then identify targets for drilling in Q4 2018.”
Gainey’s Exploration and Technical Team will continue to be led by Senior Geologist Rafael Gallardo of Cascabel S.A. De C.V., who with his team has actively been working the project for the past 5 years. David Dupre P Geo who is the author of Gainey’s 43-10 will continue as the company’s QP and technical advisor. Mark Bailey, M. Sc. P. GEO. and Dr. Peter Megaw PhD President, Cascabel/Imdex will continue to act as Gainey technical advisors. Brian Mentzenheim will no longer act as Gainey VP Exploration and we thank him for his time at Gainey.
Technical aspects of this news release have been reviewed and approved by David Dupre, P.Geo., designated as a qualified person under National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
For information, please contact the Company:
Web site: www.gaineycapital.com
Cautionary Note Regarding Forward-Looking Statements:
Certain disclosures in this document constitute “forward looking information” within the meaning of Canadian securities legislation, including statements regarding the Las Margaritas project, the exploration program, the Company’s plans for advancing the Las Margaritas project and expected outcomes. In making these forward-looking statements, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company will receive required regulatory approvals, that the Company will continue to be able to access sufficient funding to execute its plans, and that the results of exploration and development activities are consistent with management’s expectations. However, the forward-looking statements in this document are subject to numerous risks, uncertainties and other factors, including factors relating to the Company’s operation as a mineral exploration and development company and the Las Margaritas project, that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including that results of exploration and development activities will not be consistent with management’s expectations, the uncertainties involved in interpreting drill results and other exploration data, delays in obtaining or inability to obtain required government or other regulatory approvals or financing, failure of plant, equipment or processes to operate as anticipated, the risk of accidents, labor disputes, competition and loss of key personnel, inclement or hazardous weather conditions, unusual or unexpected geological conditions, ground control problems, earthquakes, flooding and all of the other risks generally associated with the development of mining facilities. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and 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, except as required by law.
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.