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comstock metals ltd (CSL) Snapshot

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C$-0.0055
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79.2M
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comstock metals ltd (CSL) Details

Comstock Metals Ltd. is engaged in acquisition, exploration, and development of mineral properties in Canada and Mexico. The company explores for gold and silver metal deposits. Its flagship property includes the QV property that covers 14,180 hectares within the prolific White Gold District in the Yukon Territory. The company is headquartered in Vancouver, Canada.

comstock metals ltd (CSL) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$187.2K
Chief Financial Officer, Secretary, Director ...
Total Annual Compensation: C$74.9K
Compensation as of Fiscal Year 2013.

comstock metals ltd (CSL) Key Developments

Comstock Metals Ltd Announces Results of Summer Exploration Program from its QV Project 90 Kilometres South of Dawson City, Yukon

Comstock Metals Ltd. announced the results of the summer exploration program from its QV project 90 kilometres south of Dawson City, Yukon. The QV project is contiguous to the Kinross Gold's Golden Saddle project and hosts a similar style mineralization as the Golden Saddle deposit. The Company has completed 3,422 metre diamond drilling on the VG Zone in 17 diamond-drill holes outlining a 350 m by 350 by zone that is 250 m deep, and the zone remains open in all directions. The 2013 exploration program at the QV property included diamond drilling, geological mapping, rock and soil geochemical sampling, ground magnetometer surveys, and prospecting. Sampling was completed on the VG North structure, 1,200 metres north of the VG Zone, the Adit Fault, 450 metres south of the VG Zone, the VG Zone area and the Shadow Zone (14 kilometres north of the VG Zone). Gold mineralization with similar grades and geological setting to the VG Zone (Telegraph Fault) was confirmed in these structures. Mapping completed on the Adit Fault shows the host to be a biotite schist with sericite alteration and quartz veining associated with an east-west trending vertical fault (Adit Fault) and low angle shears dipping approximately 30 degrees to the north-northeast. Channel samples previously reported 4.67 g/t Au grab sample yielded 2.90 g/t Au over a 0.50 m-wide quartz vein, 0.083 g/t Au over 1.00 m below the quartz vein, and 0.676 g/t Au over 0.50 m above the quartz vein. Two grab samples collected seven metres from the channel samples along the vein structure returned 5.61 g/t Au and 3.31 g/t Au. On the Shadow Zone, two structures have been interpreted from magnetic data and surface mapping. Through soil and rock sampling, the company also expanded the Shadow Zone target to a 2,500 m by 1,400 m area, highlighted by a peak gold-in-soil result of 514 ppb gold. Trench sampling in 2012 returned 88 m of 0.33 g/t Au. The rock grab sample result from 2013 returned 1.51g/t Au. The mineralization at the Shadow Zone is hosted in felsic intrusive and augen gniess rocks. The zone and structures display similar characteristics to the VG Zone. The work program on the Walhalla project included rock and soil sampling. The soil geochem has returned values ranging up to 17 ppb Au, 306 ppm Cu, and 1687 ppm Ni. The rock geochem results have returned gold values ranging up to 294 ppb Au, 121 ppm Cu, and 451 ppm Ni. The company will plan additional grid-soil sampling and trenching for the 2014 work season.

Comstock Metals Ltd Announces Results of the Balance of the 2013 Phase 1 Drill Program on its QV Project, White Gold District, in the Yukon Territory

Comstock Metals Ltd. announced the results of the balance of the 2013 Phase 1 drill program on its QV Project, White Gold District, in the Yukon Territory. The Company completed 9 diamond drill holes for a total of 2,188 m. The Phase I drilling substantially expanded the footprint of the VG Zone, which remains open in all directions. The 2012 drilling had outlined a footprint 200 m by 120 m. Following the recent drilling, the footprint is now 350 m by 350 m. All holes drilled to date were aimed at expanding the zone(s) of gold mineralization along strike and down-dip. The current results along with the previously announced results confirm a potential bulk-tonnage target at the VG Zone. The last hole drilled to the east, QV13-013, started in the Zone and returned 1.90 g/t Au over 10.95 m, which includes 2.59 g/t Au over 7.33 m (announced July 22, 2013). The northernmost drill hole intersection, QV13-011, returned 1.41 g/t Au over 42.6 m, including 3.40 g/t Au over 12.54 m. The furthest step-out drill hole to the west, QV13-012, starting from 8.6 m below surface, returned 2.06 g/t Au over 36.4 m, including 3.24 g/t Au over 11.3 m. The drilling has proved that the Zone remains open along strike to the east, to the west, and down-dip to the north. QV12-14, collared 50 m north of QV12-07, returned 57.15 m of 1.01 g/t Au starting from 88 m below surface. QV13-015, drilled 260 m down-dip of QV12-12, has returned a broad zone of 41.32 m of 0.40 g/t Au, including 13.32 m of 0.45 g/t Au and 9.33 m of 0.82 g/t Au. QV13-016, drilled from the same collar as QV13-014, returned 1.20 m of 4.25 g/t Au. Drill hole QV13-017 drilled 500 m to the west of the VG Zone, intersected the VG structure within the same host rock and associated anomalous gold and pathfinder elements. The drill hole also returned a broad zone of anomalous gold values of up to 2.0 m of 0.38 g/t Au and 0.55 m of 0.91 g/t Au. The company will follow up these results with more drilling. Comstock's technical team are finalising their assessment of the 2013 drilling and field work results and are preparing recommendations for further drilling which may be undertaken this year's field season. The follow-up Phase 2 drilling program which is anticipated to start late August will be focused on systematic step-out drilling along strike and down-dip to improve confidence of gold distribution. Additional Developing Targets: As previously announced (July 22, 2013), sub-parallel structures with similar geophysical and geochemical expressions as the VG Zone exist to the north and south of the VG Zone. VG North, 1200 m to the north of the VG Zone, expressed as a ‘Magnetic Break,’ has returned 2.14 g/t Au, from pneumatic hammer sampling (GeoProbe) designed to sample bedrock, coincident with a broad anomalous zone of pathfinder elements in rocks indicating the presence of another gold system at this location. Similarly, the Adit Fault, 450 m to the south of the VG Zone (VG South), has been mapped in outcrops with similar host rock as the VG Zone and carries gold of up to 4.68 g/t Au in chip samples from outcrops. VG South (Adit Fault) has similar mineralized structures as the VG Zone being reported. The company is interpreting surface geophysics and geochemistry work completed this summer on the Shadow and Stewart targets to identify drill targets. Both targets have significant footprints indicating part of much larger system. The gold-in-soils anomalous areas range from 15 ppb Au to 1280 ppb Au. The Shadow gold-in-soil anomalous target covers an area 1500 m by 1500 m; the Stewart target covers an area 250 m by 1800 m.

Comstock Metals Ltd. Announces Step-Out Drilling to the East Intersects VG Zone

Comstock Metals Ltd. announced that recent drilling has intersected the VG Zone east of the area tested previously in 2012. Drill hole QV13-13 intersected the basal portion of the mineralized structure, returning 3.23 g/t gold over 1.60 m; 5.24 g/t gold over 1.50 m surrounded by low grade from 0.34 g/t to 1.06 g/t gold. It is anticipated that further drilling will likely intersect the entire thickness of VG Zone along strike to the east as well as down-dip. The overall interval in QV13-13 is 1.90 g/t over 10.95 m which includes 2.59 g/t Au over 7.33m. The drill hole didn't sample the entire VG Zone as the drill hole was collared in the mineralized zone. QV 13-013 also intersected a second anomalous zone staring at 30 m below surface cutting 0.32 g/t Au over 17.0m. Drill hole QV 13-013 is important as it establishes the eastern continuation of the VG Zone. With the success of QV13-13 the VG Zone remains open to the east, to the west and down-dip to the north. With drill-defined dimensions of 350 by 350 metres the VG Zone is becoming one of the large individual gold-systems in the White Gold District. The company received results from other segments of its 2013 programme including pneumatic hammer sampling (GeoProbe) designed to sample bedrock beneath soil anomalies with minimum surface disturbance. One such sampling line on a VG-like structure, 2200 m north of the VG Zone has returned 2.14 g/t Au along a magnetic-break and a broad zone of pathfinders elements (As, Hg, Sb, Te, Ag, Mo) in felsic gneiss (the host rock at VG zone). The company is very encouraged by these results. Similarly the Shadow and Stewart targets are being sampled and results are being compiled. The company plans to drill-test these targets. The 2013 Phase 1 drill program completed 2,088 metres in nine drill holes including one significant step-out drill hole 650 m along strike. A follow up Phase 2 drill program is planned for this summer. In September of 2012, the company completed an initial eight drill holes at the VG Zone targeting gold mineralization discovered in trenches completed earlier in the summer. Results from last year's drilling intersected broad zones of gold mineralization. The most recent drill results have extended the VG Zone down-dip and along strike. With results from four holes still pending, this expansion program has doubled the size of the deposit defined in 2012. The widths and grade of the recent 2013 drilling are consistent with that returned in 2012. The zone of mineralization remains open in all directions.

 

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