Comstock Mining Receives Unanimous Approval for Modified Operations Plan for Lucerne Project

Comstock Mining Inc. (NYSEMKT:LODE) announced that the Storey County Board of Commissioners has unanimously approved the company’s operating plan and confirmed that the major modifications to conforms to the conditions of the existing Special Use Permit No. 2000-222-A-5 (‘SUP’).
As quoted in the press release:

The modification outlines the Company’s plan to develop a portal and underground tunnel (a “drift”) alongside a highly mineralized series of high-grade structures. The Company then plans to efficiently drill and develop those structures into an expanded resource and, based upon the final economic feasibility analysis, expanded mine plans. The existing permit allows the Company to begin construction activities of an underground mine portal for exploration and development of known Lucerne resources, ultimately with the objective of establishing gold and silver reserves. The Company plans to invest approximately $3 million for the first phase, including the underground portal, primarily core drilling and certain related infrastructure for the Lucerne underground exploration and development project. Over the past year, the Company has developed geological definition and control over dike-like masses of quartz porphyry (PQ) that have intruded into the main lode and have a direct relationship to the known mineralization. Current drill data from this PQ structure include 46 intercepts that grade, on average, over 0.23 ounces of gold per ton and over 1.71 ounces of silver per ton. In addition to the mineralized mass of PQ, the Company developed and defined the nearby Woodville Bonanza structures, also with extensive level plans and cross sectional analysis. The geologic definitions include significant detail, including historical mappings plus over 116 intercepts of at least 10 feet grading over 0.22 ounces per ton gold and 1.59 ounces of silver per ton. These two structures represent the heart of the exploration and development target, with the PQ structure representing the first phase and the Woodville representing the second phase. The portal and drilling for the PQ will be completed by December, 2015. https://www.comstockmining.com/files/flipbooks/PQTarget/ – See more at: https://comstockmining.com/news/press-releases#sthash.tDfw5LuD.dpuf

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