The Phase 1 drilling program will comprise between 2,000 and 5,800 meters of HQ diamond core drilling and will focus on the following four mineralized zones that have already been encountered by the Company:
- La Higuerita: highlight assays ofÂ 33.30-gpt gold / 1,550.00-gpt silverÂ andÂ 20.00-gpt gold / 895.00-gpt silver;
- La Nueva Victoria: highlight assays ofÂ 9.73-gpt gold / 155.00-gpt silver and 3.54-gpt gold / 261.70-gpt silver;
- El Arrayan: highlight assays of 12.35-gpt gold / 938.00-gpt silver and 2.68-gpt gold / 248.10-gpt silver;
- La PeÃ±ita: highlight assays of 24.50-gpt gold / 1,300.00-gpt silver and 2.36-gpt gold / 138.30-gpt silver
Gainey’s field crew has been mobilized and preparation of the drill pads is underway. The Company expects the Phase 1 drilling program to commence prior to the end of May 2016.
Gainey Capital CEO, David Coburn, stated:
The commencement of the Phase 1 Drilling Program will target four out of the 21 high priority Mineralized Zones at El Colomo that have already been identified by the Company’s technical team. Our most recent exploration activity on the Project, which includes assay results and detailed mapping, gives us reason to be optimistic that the anticipated results of our Phase 1 drilling program will be the foundation of building a great company.