Gainey Intersects Further Near-Surface Mineralization of 34.2 Meters of 2.39 g/t Au Eq at La Nueva Victoria, Mexico

About this update from Masivo Silver Corp.

[{"type":"text","content":"Gainey Intersects Further Near-Surface Mineralization of 34.2 Meters of 2.39 g/t Au Eq at La Nueva Victoria, MexicoVANCOUVER, BC / ACCESSWIRE / October 4, 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.\nThe mineralization encountered in hole DHEC160002 (\"Hole 2\") commenced at 19.40 meters from surface for 72.20 meters of 0.41 g/t Au and 20.21 g/t Ag (0.69 g/t Au Eq) and for hole DHEC160003 (\"Hole 3\") commenced at 10.50 meters from surface for 34.20 meters of 1.19 g/t Au and 86.57 g/t Ag (2.39 g/t Au Eq).\nTable 1 - Holes DHEC160002/3 from the La Nueva Victoria Zone at El Colomo:\n\n\n \n \n \n HOLE ID\n \n \n FROM(m)\n \n \n TO(m)\n \n \n Width(m)\n \n \n Au_g/t\n \n \n Ag_g/t\n \n \n Au_Equivalent*\n \n \n \n \n DHEC160002\n \n \n 19.40\n \n \n 91.60\n \n \n 72.20\n \n \n 0.41\n \n \n 20.21\n \n \n 0.69\n \n \n \n \n Including\n \n \n 57.00\n \n \n 73.20\n \n \n 16.20\n \n \n 0.74\n \n \n 28.88\n \n \n 1.14\n \n \n \n \n DHEC160003\n \n \n 10.50\n \n \n 44.70\n \n \n 34.20\n \n \n 1.19\n \n \n 86.57\n \n \n 2.39\n \n \n \n \n Including\n \n \n 10.50\n \n \n 14.00\n \n \n 3.50\n \n \n 4.32\n \n \n 438\n \n \n 10.39\n \n \n \n \n And\n \n \n 27.10\n \n \n 44.70\n \n \n 17.60\n \n \n 1.29\n \n \n 37.06\n \n \n 2.29\n \n \n \n\n\n*Au Equivalent calculated using a price of $1,300 US/oz for gold and $18 US/oz for silver.\nHoles 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).\nRafael 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 Victo...

More updates from Masivo Silver Corp.