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Gainey Capital Corp.
Summary
| Project: | El colomo | |
|---|---|---|
| Deposit: | La Nueva Vicoria | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/4/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-10-2016: Gainey Capital Corp. announces an Exploration/Drilling Update report for its La Nueva Vicoria deposit at the El colomo project. Drilling results incl. 34.2m @ 1.19g/t Au, 86.57g/t Ag from 10.50m. VANCOUVER, BC / ACCESSWIRE / October 04, 2016 / | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Hladky (Not stated) | |
| ABSTRACT: | VANCOUVER, BC / ACCESSWIRE / October 04, 2016 / Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) ("Gainey" or the "Company") is pleased to announce assay results from the second and third holes of the Company's Phase 1 drill program at the near surface, La Nueva Victoria Mineralized Zone ("La Nueva Victoria") of the El Colomo property in Sierra Madre Golden Belt, Mexico. Holes 2 and 3 targeted the center of the silicified vein breccia zone, consisting of gray quartz veining and permeable lithic tuff. Hole 2 was targeted at -80° below, the previously released, hole DHEC160001 and Hole 3 was targeted to intersect this zone to the northwest, by approximately 28 meters. Hole 1 intercepted over 70 meters of 1.14 g/t Au Eq (please see the Company's news release dated September 28th, 2016). Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V., who is leading the drill program, commented, "the results encountered from drill holes 2 and 3 show that Au-Ag mineralization is being encountered near surface and the mineralized structure is open at depth and along strike at La Nueva Victoria." David Coburn, CEO of Gainey, commented, "we are encouraged by the further success of the drill program at the La Nueva Victoria zone. This is one of 21 surface mineralized zones that we have identified in the 3 km by 1 km area of the El Colomo Project referred to as the "Golden Corridor" and we are looking forward to progressing through our drill testing of these zones to evaluate their mineralization potential." | |
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