Comstock Announces Dr. Sethu Raman as an Advisor to the Company
Vancouver, BC – April 7, 2016 - Comstock Metals Ltd. (TSX-V: CSL) (“CSL” or the “Company”) is pleased to announce that Dr K.Sethu Raman will join the company as an advisor.
Dr. K.Sethu Raman is a proven mine finder and a successful entrepreneur with more than 46 years of international experience in all phases of exploration, mine development, acquisitions and operations as well as experience in financial and legal areas. He has pioneered many new exploration concepts and strategies which have led to the discovery of eleven significant gold, silver, copper, zinc, phosphate and uranium deposits located near established mining camps, seven of which went on to become producing gold mines in Canada.
As President and CEO of Holmer Gold Mines Ltd (1985-2004) and Director and Advisor to Lake Shore Gold Corp (2004-2016), Dr. Raman has been the driving force behind the discovery and development of the Timmins West Gold mine in a previously unknown faulted extension of the Timmins Mining Camp. The surrounding area hosts several deposits and profitable mines operated by Lake Shore Gold with an annual production of 180,000 ounces of gold in 2014. On April 1, 2016 Lake Shore accepted a friendly $945M takeover offer by Tahoe Resources Inc.
Dr. Raman previously spent 13 years with Campbell Chibougamau Mines/Campbell Resources and the Royex Gold Mining Group of companies controlled by Ned Goodman. He joined as a Research Geologist and held various management positions including Vice President from 1980 to 1986. Here he played a key role in the discovery and development of six gold mines in Quebec, Ontario and the Canadian Arctic increasing the market cap from $25M to $1B. Subsequently these companies were sold to Home Stake Mining (now Barrick Gold) and Patino Mining Corp.
He holds a Ph.D. in Geology from Carleton University and a UNESCO Post-Graduate Diploma from the University of Vienna, Austria.
The company announces that it will issue options to certain of its advisors and consultants at $0.05.
About Comstock Metals Ltd.
Comstock Metals Ltd. is an exploration company with its flagship QV Property, which covers 16,335 hectares (40,364 acres) within the White Gold district of the Yukon Territory, about 70 kilometres south of Dawson City. To date, the Company has completed 3,400 metres of drilling in 17 drill holes at the VG Zone and in July of 2014 announced an Inferred mineral resource at the VG Zone of 4.4 million tonnes grading 1.65 g/t Au containing 230,000 ounces of gold at a 0.5 g/t Au cut-off (See July 8, 2014 News Release). The VG Deposit remains open in all directions and is situated proximal to other untested sub-parallel structures. The geology and mineralization of the gold discovery, VG Zone, are similar to the Kinross’s Golden Saddle deposit except the VG zone mineralization dips at a shallow angle (20-30°) beneath a low-rising hill, which is more amenable to open pit mining. Gold mineralization is hosted within units of massive, silicified felsic gneiss cut by swarms of quartz vein stockworks and breccia, with disseminated and vein controlled pyrite, and more rarely visible gold. Furthermore, additional promising targets on the QV Project have the potential for the discovery of significant intrusion related and/or orogenic gold mineralization.
Comstock also owns a 100% interest in an early stage uranium exploration property in the Patterson Lake area of Saskatchewan.
Douglas Turnbull, P.Geo., a Qualified Professional as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure in this press release.
For more information about Comstock Metals Ltd., please go to www.comstock-metals.com or contact:
Interim President & CEO, Director
COMSTOCK METALS LTD.
Phone: (604) 639-4533
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.