ComstockAdvances Underground Portal At Lucerne Mine
VIRGINIA CITY, NV - Comstock Mining Inc. reported construction of the underground exploration portal ("Harris Portal") and development of the exploration drift ("tunnel") in the existing Lucerne Surface Mine is progressing on schedule and has reached a linear distance of approximately 200 feet. Additionally, the first drill platform has been constructed and the underground drilling of the previously discovered, dike-like masses of quartz porphyry (PQ), commenced.
The first phase of the tunnel development, with a planned investment of $3 million, is expected to be approximately 800 feet, running parallel to the PQ target. This phase includes approximately 20,000 feet of diamond-core definition drilling and is scheduled for completion before year-end. Previously disclosed drill data from the PQ includes 46 intercepts of at least 10 feet that grade, on average, over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton.
Corrado De Gasperis, President & CEO, commented, "We are pleased with the pace of development, the partnership with American Mining and Tunneling and the timely commencement of drilling activities by American Drilling. We will be updating and reporting on the status of the drilling, starting in October and frequently thereafter throughout year-end."
Comstock Mining Inc. is a producing, Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District. The Company began acquiring properties in the Comstock District in 2003. Since then, the Company has consolidated a significant portion of the Comstock District, amassed the single largest known repository of historical and current geological data on the Comstock region, secured permits, built an infrastructure and commenced production in 2012.