May 26 2017
USA Parkway Remains on Schedule
Comstock Mining Inc. (the “Company”) reported today it has significantly advanced two strategic venture discussions this week and anticipates that at least one transaction will occur during the second quarter. The Company will also host its Annual Meeting on June 1, 2017, at the Gold Hill Hotel, in Gold Hill Nevada.
Additionally, the Company advanced metallurgical column tests from the Dayton Resource Area, for the purpose of assessing optimum metallurgical feasibility for the Dayton mineralized material. The Company has established four, full metallurgical column tests, two cyanide and two non-cyanide, running parallel, that support and advances the feasibility study for establishing proven and probable reserves at the Dayton Mine. The samples were crushed, agglomerated and loaded into four ten-foot columns for leach pad simulation. These simulations are entering their third week of testing on-site, in the Company’s metallurgical labs, and are funded by U.S. National Science Foundation research grants through Cycladex Inc., a strategic investee and partner.
Corrado De Gasperis, Executive Chairman and CEO of the Company stated:
To date, both gold and silver yields are exceeding expectation and tracking exceptionally well against the cyanide parallel columns. We are encouraged on yields and speed, and look forward to assessing the specific consumption of the non-cyanide materials for economic feasibility. Preliminary results from these columns will be available mid-July.
The Company also updated that the new USA Parkway, an 18-mile-long, four-lane state route between Interstate 80 and U.S. 50 will further link the greater Reno/Sparks area with the U.S. 50 Silver Springs corridor, remains on schedule for completion in 2017. The $75.9 million project is expected to reduce travel times by as much as 38% for those traveling between I-80 and U.S. 50 in Storey and Lyon counties. As part of the USA Parkway project, the State is also constructing a roundabout at the future USA Parkway/U.S. 50 intersection in Silver Springs. Next year in March, the Nevada Department of Transportation (NDOT) plans on investing an estimated $45 million to complete the final 10 miles of widening U.S. 50 from two lanes into four lanes between Silver Springs and Carson City.
Mr. De Gasperis noted:
Nevada’s commitment to economic development has gone well beyond just supporting Tesla, Switch, Apple and Google. These are staggering commitments to the economies that also support the local communities as roads, stores, hotels and other investments are being announced almost weekly. The roundabout is in the immediate vicinity of our recently certified Comstock Industrial Site, driving value and interest toward our non-mining properties.
The Company believes the three primary value drivers for the Company’s valuation are the advancements of its Comstock properties toward feasibility, including the Dayton Mine, Joint Ventures that expand or accelerate these mine developments toward feasibility and the completion of the new USA Parkway and its roundabout connection into U.S. 50, both scheduled for completion this year. NDOT has separately announced more than $125 million in infrastructure road projects directly associated with the USA Parkway extension and/or U.S. 50 connections and expansions.