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.”
About Goldplay Exploration
Goldplay is a private mineral exploration company comprising a group of experienced explorers and financiers with a track record of recent discoveries in Latin America. The group is responsible for the discovery and development of La Trinidad Mine in the Rosario Gold belt currently being mined by Marlin Gold. The Company has properties in Mexico and Central America and is currently focused in Rosario Sinaloa, Mexico, a prolific gold and silver mining belt. The Company’s has advanced several properties in the Rosario area to the resource stage and is sourcing methods to advance its projects to the next stage.