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Gainey Capital Corp.
Summary
| Project: | El colomo | |
|---|---|---|
| Deposit: | La Nueva Vicoria | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 8/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-8-2017: Gainey Capital Corp. announces an Exploration/Drilling Update report for its La Nueva Vicoria deposit at the El colomo project. Technical report summarising exploration work to date on the El Colomo Property. This technical report was commissio | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David DuPre, John Wilson (Independent) | |
| ABSTRACT: | This technical report was commissioned by Gainey Capital Corp. of Vancouver, B.C., Canada (Gainey), at the request of Mr. David Coburn, CEO of Gainey. As geologists, the authors were asked to undertake a review of the available data, visit the site and assess the precious metal potential of the property. The mandate also called for the authors to recommend specific areas and methodologies (if warranted) for further exploration. The identification of these areas would be based on their observations and interpretations. This technical report describes the El Colomo mineral property presently controlled by Minera Buena Fortuna (a wholly owned Mexican subsidiary of Gainey Capital Corp.) By way of extensive experience working on epithermal gold/silver exploration projects in many parts of the world, including Mexico, the authors fulfill the requirement to be “qualified persons” for the purposes of NI 43‐101. This report is based upon data and information compiled by the authors from published and unpublished reports and maps, much of which was provided by Gainey Capital Corp. Several personal inspection visits were made to the site. Mr. John R. Wilson made personal inspection visits of the Property on July 27-29, 2016 and March 12-15, 2017. The El Colomo mineral property is located approximately 135 km east-southeast of Mazatlan, straddling the border of the States of Nayarit and Durango. It consists of six mineral concessions, totaling 18,766 hectares. The El Colomo deposits occurs in the central part of the Sierra Madre Occidental volcanic pile which displays two major volcanic successions and a number of intrusive events. The Eocene aged Lower Volcanic Group (LVG) is predominantly composed of andesitic and rhyolitic flows and tuffs, and is intruded by a number of intrusions including the dominant Piaxtla Granite (part of the Sinaloa composite batholith). The Tertiary aged Upper Volcanic Group (UVG) is composed of a lower andesitic horizon capped by rhyolitic ash flows and tuffs, and is separated from the LVG by an erosional and depositional unconformity. Subsequent rhyolitic and basic dykes intrude both the LVG and UVG. | |
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