Gainey Signs 10,000 Ton Ore Processing Agreement
January 22, 2015 (Source: Accesswire) — Gainey now taking delivery of high-grade ore at its advanced mill and processing centre
Gainey Capital Corp. (TSXV:GNC) (OTC:GNYPF) (“Gainey” or the “Company”) is pleased to announce that Belmex Resources has engaged Gainey to process a minimum of 10,000 tons of high-grade gold ore at its 300 TPD (tons per day) mill and processing centre in Mexico’s prolific gold and silver region of Sierra Madre. Gainey has begun taking delivery of the ore (assay grades from 5.8 to 12.2 GPT), delivered by truck from Belmex’s facility just 22km from the mill.
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Gainey’s facility is the only one in the region that includes a gravimetric/flotation processing center to optimize gold and silver recovery rates. Its operational team is run by Gainey Operations Manager, George Cantua, who previously supervised Barrick Gold’s 24,000-tpd mill in the Dominican Republic.
David Coburn, CEO of Gainey Capital, commented, “We located our facility close to a large number of ore bodies specifically because there was no other mill in the region. We began sampling ore from multiple sources just days after completing our upgrade program and today’s announcement shows we have started the next phase of the toll processing part of our business.”
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 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 email@example.com.
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>