VANCOUVER, BC / ACCESSWIRE / September 8, 2016 / Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) ("Gainey" or the "Company") announces that the Phase 1 Drilling campaign has completed the first three Diamond Drill holes at the El Colomo Gold-Silver Project in Mexico. The first of the three holes targeting the La Nueva Victoria Mineralized Zone has been sampled and shipped to ALS Labs Vancouver, BC for analysis and the other two holes are currently being processed at the Company's core logging facility to be submitted shortly. Preliminary results from these drill holes are anticipated within the next few weeks.
Furthermore, the Company is pleased to announce that the program continues to advance with the commencement of drilling on the first of four targets at the La Higuerita/El Arrayan Mineralized Zones.
Gainey's exploration team, led by Rafael Gallardo of Minera Cascabel S.A. de C.V., notes that though they have encountered two serious weather systems in the region, the program has not met any serious delays, and drilling progress has continued on the target zones. David Coburn, CEO of Gainey, commented, "We are looking forward to the first set of drilling results over the next 2-3 weeks. The Exploration Team has done an excellent job meeting their objectives given they have encountered challenging weather conditions."
The Company recently upgraded its exploration team with the addition of David Hladky, P.Geo. to the Technical Advisory Board, who is also the Company's acting Qualified Person as defined by NI 43-101, please see the Company's news release on July 26, 2016 for full details. Mr. Hladky's previous position was with Cayden Resources Inc. as the Qualified Person and one of the leaders in the exploration of the Morelos Sur and El Barqueno projects in Mexico, that were successfully sold to Agnico Eagle Mines for $205 Million in 2014.
The Company also reports the grant of up to an aggregate 2.5 million common share purchase options, exercisable at a price of $0.20 per share, to its directors, officers, employees and consultants.
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and mineral processing company exploring an aggregate of 192-km2 strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The company's processing centre, located outside of Huajicori, in Nayarit, Mexico, is capable of processing up to 300 tons of mineralized material per day and the company has the capability to upgrade to 600 tons per day with a low capital expenditure. Additional information on Gainey Capital, its current operations and its vision is available on the Company's website at www.gaineycapital.com or from email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
For information, please contact the Company:
FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company 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.
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.
SOURCE: Gainey Capital Corp.