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Comstock Mining (NYSE MKT:LODE) reported that it has completed a drill program intended to determine near-surface mineralized zones at the Succor and Holman mineral patents. Comstock has further defined a zone of high-grade mineralization on these patents since reporting initial high-grade intercepts at the patents in February, with an additional 30 drill holes.
The company also went over the nature of the program. As quoted in the press release:
Lucerne’s eastern exploration commenced in December 2014, with the completion of 119 drill holes in an area encompassed by the historic Succor and Holman mines. In the case of both mines, mineralization takes the form of moderately dipping quartz-calcite stock-work veining within the Miocene Alta Andesite. The primary objective of the Eastside drilling program was to accurately define the near-surface mineralization in the Succor and Holman areas because surface outcrops are limited. Drill hole spacing was also tightened, where practical, to 50 feet or less. The drilled strike lengths along the Succor and Holman zones totaled approximately 700 feet and 575 feet, respectively. The average depth of drilling was approximately 100 feet.
Due to the shallow nature of the program, the Company utilized a standard blast-hole rig. All samples were analyzed for gold and silver at the Company’s existing, on-site production assay lab utilizing standard fire assay techniques. This drill program was intended to complement previous work from 2011 and 2012 which generated significant drill intercepts up to 300 feet down-dip on a portion of the Succor mineralized system.
Additional drilling on both the Succor and the Holman is required to define the extent and continuity of mineralization below depths of 100 feet. That drilling, utilizing primarily core drilling standards, is planned for the spring of 2015. Preliminary geological and engineering evaluation, including the development of grade shells and a block model, will be conducted concurrently with the drill program. Preliminary metallurgical work has also been initiated on representative drill samples from the Succor and Holman drill program. This work includes standard bottle-roll procedures to test the mineralized materials’ amenability to existing heap-leach processes.
Comstock Mining has recently expanded its near-surface drilling and development program to include the Dayton Resource Area, south of Lucerne, in Lyon County. The first phase of Dayton drilling will mirror the sample procedures of the Succor and Holman area using an efficient blast-hole rig to define near-surface mineralization. Preliminary results are pending; however, the drilling has clearly outlined a southerly extension to one of the principle Dayton structures that hosts an expanded deposit. Once complete, further core and reverse circulation definition and infill drilling, including third-party laboratory sample analysis, will commence later this spring, followed by resource estimation and final mine planning. – See more at: https://comstockmining.com/news/press-releases#sthash.5nGSbQuJ.dpuf
Galane Gold CEO, Corrado De Gasperis, said:
The near-surface portion of this drill program continues to intersect high-grade mineralization over widths that are supportive for economic mining. This recent drilling results included seven intercepts with greater than 0.100 ounce per ton of gold.
Click here to read the Comstock Mining (NYSE,MKT:LODE) press release
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