October 6, 2015 – Vancouver, British Columbia – Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) (“Gainey” or the “Company”) is pleased to announce that it has it has received the assay results from its detailed sampling of the ‘Golden Corridor’ at its El Colomo project. The Golden Corridor is a northerly-trending area, 3.5-kms long by 1-km wide, with multiple exposures of sub-parallel mineralized structural zones associated with at least two dome-like felsic intrusions that are hosted by andesitic rocks. Six known mineralized zones are exposed in the Golden Corridor, and it appears to be open along strike. The known zones are La Nueva Victoria, El Arrayan, La Higuerita, La Bufa, La Peñita and El Guayavo.
A total of 266 samples were taken at the Golden Corridor. The width of these samples varies from 0.15 to 3.0-m wide. Highlights from the sampling of these mineralized zones include:
These mineralized outcrops in the Golden Corridor are comprised of veins, breccias, stockwork and disseminations, which are principally hosted by hydrothermally altered, rhyodacitic intrusive rock with quartz phenocrysts. This intrusive rock forms dikes as well as at least two domes and is hosted by andesitic volcanic rocks.
Larry Segerstrom, Gainey Capital’s QP, commented, “The pervasive veining, argillic and silicic alteration, and size of the intrusive-hosted mineralized area suggests the presence of a strong hydrothermal system with the potential for large volumes of low-grade gold-silver mineralization at shallow depths. This potential for bulk tonnage will begin to be tested by diamond drilling in early 2016.”
Rafael Gallardo, Senior Geologist of Minera Cascabel that led the recent work, commented, “The field data and geochemical results obtained in this detailed mapping and sampling program suggest that the dikes that host the mineralization at La Nueva Victoria and El Arrayan may be connected at depth with the domes at La Higuerita and La Bufa. This represents a significant potential for a low-grade, high-tonnage deposit.”
David Coburn, Gainey Capital’s CEO, commented, “Results from our detailed surface mapping program have shown high grade gold-silver from mineralized structural zones as well as lower grade with potential bulk tonnage in the host wall rock. Our geology team is very excited with the results from this Phase 1 detailed mapping program and we will continue with our mapping of the central part of the El Colomo property which contains 15 unmapped, historic prospects and small mine workings outside the Golden Corridor.”
The Golden Corridor was mapped and sampled in detail with the aim of identifying priority drill targets for Gainey’s Phase 1 drill program commencing in early 2016.
Lawrence Segerstrom, a Director of the Gainey Capital Corp. and a Qualified Person under NI-43-101, reviewed and approves the content of this release.