TSXV Trading Symbol: GNC
VANCOUVER, Feb. 12, 2014 /CNW/ - Gainey Capital Corp. (TSXV: GNC) ("Gainey" or the "Company") is pleased to announce the engagement of Minera Cascabel SA de CV as leader of its gold and silver exploration strategy, and the launch of its Phase 1 exploration program in Nayarit, Mexico.
The Company is pleased to announce that Minera Cascabel of Tucson, Arizona and Hermosillo, Mexico has been engaged to lead the Company's exploration strategy and develop its Phase 1 exploration program at the El Colomo Project, located in the gold/silver-rich Sierra Madre trend in Nayarit and Durango States, Mexico.
Led by principals Peter Megaw, PhD (GeoPh) and Carl Kuehn, PhD, PGeo, Minera Cascabel has a long history of gold/silver and other precious metals exploration success within the Sierra Madre and other parts of Latin America, extending over 25 years. Minera Cascabel's main focus has consistently been precious metals exploration in Mexico, where they are considered the leading experts for exploration. They have managed large-scale exploration programs for Kennecott, Teck, and BHP, among many others, and have identified and helped bring to market Excellon Resources Inc. (TSX: EXN) Platosa Mine in Durango (the highest grade operating mine in Mexico), MAG Silver's (TSX: MAG) Juanicipio Project (one of the world's largest silver discoveries, currently moving towards production with Fresnillo plc – LSE: FRES), and MAG Silver's Cinco de Mayo Project (major CRD discovery).
Minera Cascabel brings a complete technical team of geologists, geotechnicians, and geoscientists to the El Colomo Project. Dr. Megaw and Cascabel's VP Exploration Kuehn will jointly lead the team, which has already begun consulting with Gainey management to develop a comprehensive Phase 1 exploration plan to systematically explore and develop the El Colomo concessions.
On the engagement, David Coburn, Gainey CEO commented: "Gainey is extremely fortunate to be working with Cascabel and industry luminaries such as Peter Megaw and Carl Kuehn, whose involvement with Gainey we feel is an endorsement of our El Colomo Project. Cascabel adds significantly to our team."
El Colomo Phase 1 Program
The Company is gearing up for the launch of its 2014 Phase 1 exploration program at El Colomo, expected to commence in early Q2. A comprehensive exploration plan for the concessions is being developed, which will include systematic sampling, trenching and drilling. Details of the El Colomo Phase 1 program will be made available as they are developed.
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration and development company exploring an aggregate of 18,766 hectares strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. 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 protected].
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
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.
For further information: please contact the Company: Phone: 604-484-5144, E-mail: [email protected]