Comstock Metals Ltd. declared that it has started the first phase of a drilling program on its Corona Gold-Silver Project located in the Uruachic District of Chihuahua, Mexico.
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 drilling program, the company has built and renovated about 16 km (approximately 10 miles) of access roads. G4 drilling of Hermosillo, Mexico was engaged to perform Comstocks 2012 drilling program.
The companys drilling program will primarily concentrate on bulk tonnage, low-grade oxidized 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 a 2007/2008 exploration program.
Comstock Metals President and CEO Rasool Mohammad said 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.
