Geophysical Surveys Of The Southern Comstock District Dayton Resource Area
VIRGINIA CITY, NV - Comstock Mining Inc. reported that airborne geophysical surveys began, including the Dayton resource area, adjacent to Silver City, NV and the contiguous Spring Valley exploration targets all the way to Hwy 50.
The Company expects preliminary scans becoming available by mid-October, and extensive three-dimensional interpreted results later in the fourth quarter.
The results will greatly increase the Company’s understanding of the Dayton resource area and Spring Valley resource expansion potential, along with the Company’s other exploration targets in Lyon County.
Corrado De Gasperis, Executive Chairman and CEO said, “The proprietary surveys will provide invaluable data, to both corroborate and expand our knowledge of the potential mineralization, in the safest, least disruptive manner, and at depths not previously explored, enabling us to, among other things, refine and finalize a most effective and efficient exploration and development drill program.”
The Company’s technical staff is completing a detailed structural interpretation of the Dayton resource area that is providing the framework for a completely new resource model, and extensions into the adjacent Spring Valley. The detailed interpretation is refining a list of highly prospective drill targets to better define and expand the existing mineral resource estimate. Based on the promising findings of this recent interpretive work, the Company made the decision to complete a property-wide geophysical program, and based on the results, finalize the targets for a new, expansive drill program. The Company recently enhanced its land position by purchasing seven unpatented lode mining claims in Spring Valley.
The results of previous drilling at the Dayton resource area and the current, detailed geological interpretation will enable the geophysical data to be calibrated with and provide interpretation for the Company’s other exploration targets in Lyon County, including the Oest, Amazon, and Daney mine areas, Grizzly Hill and Montezuma Ridge, and the Spring Valley and Gold Canyon placer areas.
Mr. De Gasperis continued, “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.”
The Company plans to advance the Dayton resource area to full feasibility, towards a production ready mine plan. The plan includes expanding the current estimate for the Dayton resource and continuing southerly into Spring Valley, with incremental RC and diamond core drill programs. The Spring Valley mineralized structures lie mostly concealed beneath a veneer of sediment gravels and the volcanic host rocks that are known to continue south from Dayton.
De Gasperis, continued, “The Company is advancing these geological developments toward the publication of its first S-K 1300 compliant, technical report for the Dayton and Spring Valley targets. The new technical report will provide a new resource estimate and outline a phased drilling plan for further defining and expanding the resource toward responsible, sustainable and profitable mining.”