tsx, tsx-v, goldtsx, silver, junior resource

A White-Hot Yukon Discovery Comstock’s Rasool Mohammad Discusses the QV Gold Project

jay

October 15, 2012

Gold, Yukon, Comstock

Soil sampling at QV: Pathfinder elements pointed the way.

Comstock Metals Ltd V.CSL announced October 10 assays from two of eight drillholes at its QV Project in the White Gold District of the Yukon. Highlights include:

1.02 g/t gold over 82 metres
(including 6.07 g/t over 5.9 metres)
1.28 g/t gold over 56.4 metres
(including 4.92 g/t over 3 metres)

The QV Property comprises 523 claims over 10,263 hectares 70 kilometres south of Dawson City. Comstock has also earned a 60% interest in the Corona Gold-Silver Project in Mexico and may earn an additional 15% interest from Golden Goliath Resources Ltd V.GNG by completing a positive bankable feasibility study by December 31, 2017.

President/CEO Rasool Mohammad spoke to Kevin Michael Grace October 11.

RW: You must be quite pleased with these results at QV.

RM: Indeed we are! It’s a brand new discovery right next to a multimillion-ounce project.

RW: Did you have any indication beforehand that you were likely to get such good results?

RM: No, we started fresh. When I got this property from the Yukon prospector, Sean Ryan, he had about 62 soil samples on the property. I looked at the data, and the highest gold number was 20 parts per billion. In other words, 0.02 grams per tonne. But the samples had really high pathfinder elements—high arsenic, mercury, barium and molybdenum, which are found in association with gold. So I realized we must be close to a gold system.

RW: You’re close to Kinross’ T.K Golden Saddle Project and Kaminak’s V.KAM Coffee Project. Can you talk about the significance of that?

RM: Golden Saddle is 10 kilometres to the south of us, and Kaminak is 40 kilometres to the south. The significance of the QV Project is that it’s found in the same host rock. The structural orientation is the same, and the mineralogy appears to be the same. One positive thing about QV is that there is shallow dipping to the northwest. It’s a 30-degree dip, and so that’s an ideal open-pittable dip for a low stripping ratio. QV and Golden Saddle are similarly expressed in the geophysics.

RW: You drilled eight holes and got two back?

RM: Yes, it was a short work period as you can imagine. We’ve drilled 1,334 metres and hit the structure, the mineralized zone in every single hole. So we have broader zones, mineralization near the surface, and within that you have high-grade structures that can be potentially mined underground. It’s an incredible discovery. As we kept drilling we realized how the structure is behaving and where the better deformation zone is. And as you go down the dip, your mineralization zone gets wider and richer as you go deeper.

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