Gainey Signs 10 Year Community Working Agreement to Provide Additional Support for Exploration and Ore Processing
February 18, 2015 (Source: Accesswire) — Latest Community Partnership Provides Further Access to Heavy Equipment and Workers
Gainey Capital Corp. (TSXV: GNC) (OTCQX: GNYPF) (“Gainey”or the “Company”) is pleased to announce it has signed a new 10 year “Working Agreement” with the San Andres Milpillas Indian Community (Comunidad Indigena de San Andres Milpillas), in the State of Nayarit, Mexico, where Gainey owns and operates the mining concessions of approximately 15,000 Hectares. The agreement includes increased access to a large number of skilled and unskilled local workers, as well as heavy equipment at very attractive rates. This is the final community agreement relating to Gainey’s Mexican mining concessions and is a key step in supporting Gainey’s aggressive 2015 ore processing and exploration plans at its El Colomo gold and silver property, where 21 strongly mineralized bodies have already been identified.
Located in the prolific gold and silver region of Sierra Madre, El Colomo has a large number of high- grade and bulk tonnage targets, including the aptly-named ‘Golden Zone.’ Exploration work will be led by renowned geologist, Peter Megaw, and Minera Cascabel. The company plans to use profits from its advanced 300 TPD Mill, the only one in the region with gravity and flotation circuits for optimized returns, to help fund exploration programs at El Colomo.
David Coburn, CEO of Gainey Capital, commented, “Forging a strong partnership with the local community has been a key goal for Gainey and we’re delighted to have achieved this milestone. Our ore processing business continues to grow and preparations are well underway for exploration at our remarkable El Colomo project. This agreement will enable us to pursue our goals and support the community at the same time that they are supporting us in the years ahead.”
About Gainey Capital Corp.
Gainey Capital is a gold and silver exploration, development and ore processing company exploring an aggregate of 18,766 hectares strategically located in the gold/silver-rich Sierra Madre Occidental Trend in western Mexico. The company’s Mill, located on its El Colomo property, is capable of processing up to 300 tons of ore per day and the company has the capability, including permitting, to upgrade to 600 tons per day with 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 firstname.lastname@example.org.
Get our daily investorintel update
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>