May. 10, 2017 07:41AM PSTPrecious Metals
Comstock Metals Ltd. (TSXV:CSL) reported initial high-grade results from 3 of 8 drill holes completed during the winter program at its Preview SW gold project near La Ronge, Saskatchewan.
Comstock Metals Ltd. (TSXV:CSL) reported initial high-grade results from 3 of 8 drill holes completed during the winter program at its Preview SW gold project near La Ronge, Saskatchewan (Figure 1). Holes PR17-164 to PR17-166 completed at the Preview North zone were drilled to follow-up on intercepts from Hole PR13-163 (April 2013), which intersected high-grades over good widths. Today’s results were highlighted by Hole PR17-166 which included 10.33 g/t Au over 5m. Results from an additional 5 holes are still pending, and the company plans to develop a summer program depending on the remaining results. At C$12/oz, Comstock currently trades at a steep discount to peers (C$53/oz). In our view, the market does not account for the exploration upside at either the company’s QV Property or Preview SW gold project. We believe that the pending results from the winter exploration program from Preview may begin to close the valuation gap to peers.
Derek Macpherson | VP Mining Analysis
Victoria Ellis Hayes | Associate
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Comstock Metals Ltd. – TSXV:CSL – None
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