Business
Gainey Provides Update on Exploration and Mineral-Processing Activities in Mexico
VANCOUVER, BC / ACCESSWIRE / March 16, 2016 / Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) ...
About this update from Masivo Silver Corp.
[{"type":"text","content":"Gainey Provides Update on Exploration and Mineral-Processing Activities in MexicoVANCOUVER, BC / ACCESSWIRE / March 16, 2016 / Gainey Capital Corp. (TSXV: GNC) (OTC: GNYPF) (\"Gainey\" or the \"Company\") is pleased to provide an update regarding important progress on the Company's exploration activities at its highly acclaimed, 192-km2 El Colomo property located in the Sierra Madre Occidental Trend in Western Mexico and mineral-processing at its fully operational, 300-tpd processing centre located in Huajicori, Mexico. Gainey has maintained a low monthly burn rate over the past 24-months while gold prices have dropped as low as USD$1050/oz. this year. Gainey continues to be a strong exploration and mineral-processing company and has continued to find significant opportunity during the difficult precious metals market over the past several years.\nExploration Program: Gainey reported positive results from its initial mapping and sampling programs at El Colomo, which showed high-grade gold and silver from mineralized structural zones as well as lower grade mineralization with potential bulk tonnage in the host wall rock.\nGainey discovered a new high-grade mineral zone at El Colomo that carries a vein structure of 4 to 7 km in length, which may be the northern extension of an area of known mineralization called the \"Golden Corridor.\" Analytical results from the structure include 24.50-gpt gold / 1,300.00-gpt silver. The Company will begin detailed mapping of this particular mineralized zone and will announce details as the program is finalized.\nDrill Program: Results from Gainey's mapping and sampling programs have helped to identify priority drill targets for Gainey's Phase 1 drill program that is to commence Q2 2016. 5 high-priority mineralized zones have been identified at El Colomo and Gainey plans on drilling between 2,200 to 5,800 meters in these areas this year.\nGainey's renowned geologists: Larry Segerstrom, Director and QP of Gainey, and Rafael Gallardo, Senior Geologist of Minera Cascabel S.A. de C.V. (\"Cascabel\"), have signed-off on 21 priority drill targets totalling 5,800 meters, which could be divided into various tranches. These targets are within mineralized zones at El Colomo, which include:\n- La Higuerita, with highlight assays of 33.30-gpt gold / 1,550.00-gpt silver and 20.00-gpt gold / 895.00-gpt silver...