Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced that it has completed its purchase of the Haywood quarry industrial and mineral properties from Decommissioning Services LLC for a total of $2.2 million in cash and stock. The Haywood property totals approximately 190 acres in Lyon County, Nevada, and has available power, water, and easy access to US 50. These properties historically hosted gold mining and processing operations, and more recently, aggregate mining and are strategically located and contiguous to the Company’s Lyon County mineral properties, including our now flagship Dayton gold and silver resource.
“This is a very important addition to our mineral portfolio,” stated Mr. Corrado De Gasperis, Comstock’s Executive Chairman and CEO, “as it could conveniently host activities to support the mining at Dayton, and then provide post-mining industrial property in one of the largest industrial parks in Lyon County.”
The Comstock Lode was discovered in 1859. From 1860 to 1960, the district yielded more than eight million ounces of gold and 192 million ounces of silver, from workings greater than 3,000 feet below the surface. We have consolidated the most significant portions of the historic Comstock Lode mining district, conducted surface and airborne geophysical studies, drilled extensively, and developed detailed numerical models of the mineralization. We have secured permits, built an infrastructure, and completed two phases of test production. The Haywood Quarry is a strategic addition that enhances the efficacy of our Lyon County position.
Because of the Comstock Lode's historical significance, the geology is well known and has been extensively studied. We have expanded our understanding of the geology through vigorous surface mapping and drill hole logging. The volume of geologic data is significant, particularly in the Lucerne and Dayton resource areas. We have accumulated a large library of historical data and detailed surface mapping of Comstock Mineral Estate properties and continue to obtain historical information from public and private sources. We have integrated this data with information obtained from our mining operations to target prospective geological exploration areas and plan exploratory drilling programs, including expanded surface and underground drilling.
The Company completed extensive geological mapping and drilling on a limited portion of our properties, particularly the Lucerne and Dayton resource areas, and characterized the mineralized material. We have performed metallurgical testing, mine planning and economic analysis while conducting extensive test mining operations, most recently from 2012 through 2016. The Company published an independent, third-party, S-K 1300 Technical Report Summary for our flagship Dayton gold and silver resources in November 2022.
The Company’s 2025 efforts include applying economic analysis to our existing gold and silver resources progressing toward preliminary economic feasibility for the southern part of the district, that is the broader Dayton resource complex, and the ultimate development of full mine and reclamation plans and the development of post productive land and community development plans.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics.
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