The Uruachic district has showed the possibility to become an important gold-silver locality in northwestern Mexico, following Fresnillo PLC’s newly-discovered Orisyvo gold deposit of 9.2 million ounces. This locality has attracted the interest of several gold exploration firms, apart from Comstock.
For the 2012 drill program, the company has built and renovated about 16 km of access roads. G4 drilling of Hermosillo, Sonora (Mexico) was engaged to perform Comstocks 2012 drill program.
The companys drill program will primarily concentrate on bulk tonnage, low-grade oxide gold mineralization. The major part of the drilling will be carried out on the Northeast zone, where low-grade, bulk tonnage gold mineralization was identified in drill holes. The oxidized gold mineralization exists in modified volcanics contiguous to quartz veins bearing higher grade gold. The drill program will also focus on high-grade gold-silver and base metals veins. The company had conducted a comprehensive rock, soil and silt geochemical surveys, which discovered new regions of zinc, silver, lead and gold mineralization during 2007/2008 exploration program. The Esperanza Vein, one of the regions, averaged 16% lead, 1175 g/t silver, 21.5 g/t gold and 1% zinc across a slight thickness of 15 cm. Veins resembling the Esperanza Vein exist on surface at Santa Nino Vein, owned by Fresnillo PLC, near Zacatecas, Mexico wherein drilling returned 1087 g/t silver, 1.6 g/t gold, 0.7% zinc, and Zn 0.4% lead over 3 m at a 300 m depth. The Santa Nino Vein is the richest silver vein in the world.
Comstock Metals President and CEO, Rasool Mohammad said that the company concentrates on exploring mineral localities, which provide tremendous opportunities to discover gold-silver deposits. The company will drill its two key assets, which include QV claims and Corona Gold-Silver project in the White Gold locality in the Yukon.
