Comstock to Obtain Resource Estimate of the VG Zone
April 7, 2014
Comstock Metals Ltd. (TSX-V: CSL) (“Comstock” or “the Company”) is pleased to announce that it intends to commission a Resource Estimate for its QV Project, White Gold District, in the Yukon Territory. The estimate will be based upon the results of 17 core drill holes totalling 3,422 m that were completed in 2012 and 2013. Details of all exploration completed, including the resource estimate, will be contained within a Technical Report issued within 45 days of the Company’s initial reporting of the results of the Resource Estimate.
The Resource Estimate will be done in accordance with CIMM Standards for the Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines and supported by a Technical Report conforming to NI 43-101, Standards of Disclosure for Mineral Projects. The Company has engaged Susan Lomas, P. Geo., and Jean Pautler, P.Geo., to complete this work during the second quarter of 2014. The Company is evaluating opportunities to fund its 2014 field program including drilling through strategic partnership(s).
The technical information in this Release has been reviewed by Gordon Davidson, P. Geol. and Qualified Person for purposes of National Instrument 43-101.
About Comstock Metals Ltd.
Comstock Metals’ flagship project is the QV Property in the Yukon Territory, which covers 14,180 hectares (35,000 acres) within the prolific White Gold District in the Yukon Territory, about 70 kilometres south of Dawson City. Kinross Gold’s Golden Saddle deposit is 10 km to the southeast, and Kaminak Gold’s Coffee projects are about 40 km to the south.
Comstock’s Corona Gold-Silver Property is located in the prolific Sierra Madre Occidental in Chihuahua, Mexico. The Company completed a drill program in the spring of 2012, which discovered two new zones of gold and silver mineralization.
For more information about Comstock Metals Ltd., please go to www.comstock-metals.com or contact:
Rasool Mohammad, B.Sc. (Mining), President & CEO
Larry Johnson, B.Sc. (Geology), Chief Financial Officer
COMSTOCK METALS LTD.
Phone: (604) 639-4533
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.
This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein, or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise.