Gainey Capital\u2019s\u00a0 first pass sampling at its newly-optioned Las Margaritas gold project in Durango, Mexico has sampled up to 40 grams gold per tonne and confirmed the project\u2019s previously reported 1.5-1.6 km strike length. Peter Megaw leads the company\u2019s exploration team.<\/p>\n
The company took 42 samples at Las Margaritas, including chip samples from old pits, chip-channel samples from exposed veins and grab samples from old mine dumps. The company\u2019s samples ranged from nil to 40 grams gold, with 21 samples grading higher than 1 gram gold and 11 samples grading more than 5 grams gold. Gainey optioned the property from First Mining Gold in August 2018. Gainey can earn its interest by making annual cash and share payments to First Mining and spending $1 million on exploration over four years. First Mining will retain a 2% net smelter royalty on the project; Gainey can pay First Mining $1 million to buy back 1%.<\/p>\n Surface work by the Mexican geological Survey and First Mining previously identified a vein system at the property that extends for at least 1.5 km along strike and averages 1 metre in width.<\/p>\n The property is 140 km southeast of Mazatlan, Sinaloa and consists of two mineral concessions totaling 5 sq. km. The property sits to the north of Gainey\u2019s El Como gold-silver project. Gainey (TSXV: GNC; US-OTC: GNYPF) believes that El Como and Las Margaritas together could represent a district scale opportunity. The company is continuing to map and sample the area.<\/p>\n In early January, the company closed a $750,000 private placement. Shares of the company are currently trading at 9\u00a2 with a 52-week range 4\u00a2 to 11\u00a2. The company has a $5 million market capitalization.<\/p>\n This story first appeared in The Northern Miner<\/a>.<\/em><\/p>\n The post Gainey confirms strike length at Las Margaritas<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Gainey Capital’s Las Margaritas gold project in Durango, Mexico has sampled up to 40 grams gold per tonne.<\/p>\n The post Gainey confirms strike length at Las Margaritas<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1414,404,369],"tags":[48,76],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098706"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1098706"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098706\/revisions"}],"predecessor-version":[{"id":1098707,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1098706\/revisions\/1098707"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1098706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1098706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1098706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Gainey optioned the property from First Mining Gold in August 2018<\/q><\/p>\n