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Gainey Extends Strike of Gold Mineralization and Samples Up to 73.7g/T Gold at Las Margaritas
VANCOUVER, BC / ACCESSWIRE / March 19, 2019 / Gainey Capital Corp. (TSX-V: GNC) (OTC: GNYPF)...
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[{"type":"text","content":"Gainey Extends Strike of Gold Mineralization and Samples Up to 73.7g/T Gold at Las MargaritasVANCOUVER, BC / ACCESSWIRE / March 19, 2019 / Gainey Capital Corp. (TSX-V: GNC) (OTC: GNYPF) (\"Gainey\" or the \"Company\") is pleased to report that follow-up mapping and sampling at its newly-optioned Las Margaritas project in Durango, Mexico has extended the strike extent of the main vein system to approximately 3,500 metres and collected grab samples with assays of up to 73.7g/t gold. As previously reported (see Gainey news release of February 7, 2019), preliminary sampling obtained assays up to 40.0g/t gold from grab samples, indicating the locally high-grade nature of the mineralization.A total of 39 samples were collected during the Phase II program at Las Margaritas, consisting of chip samples from old pits, chip-channel samples across exposed veins and grab samples from old mine dumps. The best mineralization appears to occur along a strike length of approximately 1,750 metres, where 25 assays ranged from NIL to 73.7g/t gold, with 15 samples assaying more than 1.0g/t gold and 6 of those assaying more than 5.0g/t gold.\"The Phase II sampling at Las Margaritas is demonstrating excellent continuity of gold mineralization along strike,\" stated Gainey CEO, David Coburn. \"This is allowing the field team to focus on the most prospective areas in order to begin generating drill targets. While there are several artisanal mine workings along the vein system, it has never been drilled and we look forward to testing the vertical continuity of the gold mineralization.\"The Las Margaritas vein system strikes northwest-southeast and dips moderately to steeply southwest, with variable widths up to two metres. The 1,750 metre mineralized strike length has been divided into the Northwest (NW) and Southeast (SE) Zones according to geological characteristics. The NW Zone trends N15°W and is hosted in a crystal tuff unit near the contact with an overlying rhyolitic lithic tuff. The SE Zone strikes N45°W and is hosted within a package of stratified volcanic flows and tuffs. The change in strike direction coincides with the transition between host lithologies and could be important in localizing gold mineralization. Host rocks are commonly clay-altered and/ or silicified. Gold mineralization occurs within druzy quartz veins, veinlets and ...