Comstock Discovers a New Zone of Porphyry-Style Gold Mineralization-Drill Hole Ended in Strong Gold Mineralization After Drilling 34.5 m of 0.36 g/t Gold
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/08/12 -- Comstock Metals Ltd. (TSX VENTURE: CSL) (the Company) is pleased to announce the discovery of porphyry-style gold mineralization from its core drilling programme at the Corona Project ("Corona") in the Uruachic-Ocampo District of western Chihuahua, Mexico. The Uruachic-Ocampo District is host to several multi million-ounce gold/silver deposits, including Fresnillo PLC's Orisyvo Deposit with a reported resource of 9.2 Million ounces (M Oz) of gold. At Corona, porphyry-style gold mineralization has been identified, and remains open to the north, east and at depth. The most recent eight drill holes completed by Comstock intersected favourable geology and strong alteration east and southeast of the Northeast Zone, stepping-out up to 350 m from holes drilled in 2002-2003. A new zone of porphyry-style gold mineralization was intersected beneath the previously reported vuggy silica lithocap (see CSL news release dated April 2, 2012 for results of holes CO-12-60 to 62). Individual assays and core photos are posted on the website at .
Highlights:
Bulk-Tonnage-Gold-Target Drilling:
High-Grade Gold/Silver Target Drilling (Esperanza High grade gold silver vein)
Northeast High grade gold zone:
Mineralized intersections reported are for core lengths where gold grades are 0.1 g/t and higher over a minimum 1 metre length. Maximum gold grade is 4.57 g/t. Silver grades are not reported but are of potential economic interest, ranging from 0.5g/t to 15 g/t Ag. The attitude of mineralized intervals varies and reported mineralized intersections may not represent true widths. A drill hole plan map is available at .
Drilling during February and March 2012 was focused on the "Northeast Zone" and its eastern 800 m long potential extension to the "VG Zone". Here mineralization is focused along the contact between the Upper Volcanic (predominately rhyolite) and Lower Volcanic Groups (mostly andesite plus sedimentary rocks), extending up into the overlying rhyolite units as patchy zones of highly fractured and leached volcanic rock with vuggy silica and alunite alteration (a "lithocap"). Beneath the contact, the underlying "andesite" is highly fractured, brecciated and often well-mineralized. Drilling indicates that the "andesite" appears to grade into intrusive granodiorite porphyry that is strongly sericite-altered and cut by numerous thin units of hydrothermal breccia. Drilling beneath the lithocap and to the south indicates that this intrusive body forms a "cupola" or dome of highly fractured and brecciated porphyry that may extend well beyond the areas of current or historic drilling. Most of the intervals reported here are in weathered, oxidized material.
"We are very pleased with the discovery of porphyry style gold mineralization in drill hole CO-12-67 and the high-grade gold zones at the Northeast Zone we have intersected to date," commented the Company's President & CEO, Rasool Mohammad. "Given the strong similarity in the geologic setting at the 9.2 million ounce Orisyvo Deposit and Comstock's Corona Project, we feel there is excellent potential to discover a world class gold deposit at Corona."
Analyzed samples consisting of split drill core were analyzed by ALS Chemex Laboratories in Chihuahua, by gravimetric fire assay methods on 50 g pulp samples. Comstock Metals has an industry standard QA/QC program consisting of inserting standards, blanks and duplicates into the sample stream to monitor the reliability of assays.
The technical information in this release has been reviewed by J. Blackwell (P.Geo.), a Qualified Person as defined by National Instrument 43-101.
About Comstock Metals Ltd.
In addition to the Corona project, Comstock also has option agreements covering 10,374 hectares within the prolific White Gold District in the Yukon Territory about 70 kilometres south of Dawson City. The claims were optioned from Shawn Ryan, a Yukon-based prospector responsible for the discovery of two of the prominent gold discoveries in the White Gold district: Kinross Gold's 1.5 million-ounce Golden-Saddle deposit and Kaminak Gold's Coffee projects. The Company has completed two soil-sampling programs on the Yukon property with encouraging results.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Comstock Metals Ltd.
Rasool Mohammad, B.Sc. (Mining)
President & CEO
604-639-4533
Comstock Metals Ltd.
Larry Johnson
CFO
604-639-4533
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 08.05.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 143871
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 114 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Comstock Discovers a New Zone of Porphyry-Style Gold Mineralization-Drill Hole Ended in Strong Gold Mineralization After Drilling 34.5 m of 0.36 g/t Gold"
steht unter der journalistisch-redaktionellen Verantwortung von
Comstock Metals Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
