Aug 27 2020
Comstock Mining Inc., a Nevada-based, gold, and silver mining company, reports that Geotech Ltd of Aurora, Ontario, Canada, has been hired to perform airborne geophysical surveys of its 100% owned Dayton resource region and neighboring Spring Valley exploration targets.
This detailed aerial view shows the survey areas of Comstock Mining’s Dayton Consolidated and Spring Valley exploration targets in Lyon County, Nevada. Image Credit: Comstock Mining Inc.
Geotech has planned to initiate its proprietary Versatile Time-Domain Electromagnetic (VTEM) geophysical system in mid-September and intends to provide 3D interpreted outcomes by mid-October.
With these outcomes, Comstock Mining can considerably improve its interpretation of the Dayton resource region and the potential of Spring Valley resource expansion, together with its other exploration targets located in Lyon County.
The technical staff of Comstock Mining is currently compiling a comprehensive structural interpretation of the Dayton resource region, which is offering the basis for a fully new resource model.
The in-depth structural interpretation is resulting in a list of extremely promising drill targets to additionally define and extend the mineral resource. On the basis of the prospective findings of this latest interpretive work, Comstock Mining made a decision to conclude a property-wide geophysical program and, depending on the outcomes, it will confirm the targets for a forthcoming scheduled drill program.
Earlier in 2020, Comstock Mining exercised its option and procured a total of seven unpatented lode mining claims located in Spring Valley, for a total of $100,000. This allowed the company to improve its land position in Spring Valley.
The previous drilling results from the Dayton resource region and the present, comprehensive geological interpretation will allow Comstock Mining to calibrate the geophysical data and interpret its other exploration targets located in Lyon County, such as Grizzly Hill and Montezuma Ridge, the Amazon, Oest, and Daney mine regions, and the Gold Canyon placer and Spring Valley regions.
We have secured a nearly 3-mile continuous trend in the southern half of the Comstock District, with known, higher-grade gold and silver mineralization and significant expansion potential. Geotech’s surveys will provide invaluable data, to both corroborate and expand our knowledge of the potential mineralization, at depths not previously explored, enabling us to, among other things, finalize the most effective and efficient drill program.
Mr Corrado DeGasperis, Executive Chairman and CEO, Comstock Mining Inc.
Comstock Mining has planned to improve the Dayton resource region to complete feasibility, with the aim of moving towards a production-ready mine plan.
In this plan, the present resource estimate for the Dayton resource region will be extended and then continued in a southern direction to Spring Valley; this also includes incremental expansion programs comprising exploration and definition drilling of targets detected by the previous traditional diamond and RC core drill programs. Based on these latest IP and resistivity geophysical survey outcomes, the targets will be both refined and optimally prioritized.
The Dayton and Spring Valley targets belonging to Comstock Mining are situated in Lyon County, Nevada, about six miles south of Virginia City, and immediately south and west of Silver City, Nevada. They comprise the historic Dayton, Dondero, Gennessee, Alhambra, Kossuth, and Daney mineral patents, collectively representing the top exploration and development target of Comstock Mining.
The mineralized structures in the Spring Valley are largely hidden under a layer of sediment gravels and also by the volcanic host rocks and the structural controls of the mineralization for the Dayton resource region known to continue southerly into Spring Valley.
The Company is advancing these geological developments toward the publication of its first S-K 1300 compliant, technical report for the Dayton resource area and Spring Valley targets. The new technical report will provide not only a new resource estimate, but also a phased drilling plan for further defining and expanding the resource for sustainable, profitable mining.
Mr Corrado DeGasperis, Executive Chairman and CEO, Comstock Mining Inc.