Tectonic / Comstock Identifies Golden Saddle-Type Quartz Vein System On Its Qv Claims And Samples 275 Ppb Gold In Soils
August 16, 2011
- Soil sampling has returned up to 274 ppb gold in soils with very strong coincident pathfinder anomalies.
- Six samples taken from a ridge that coincides with the magnetic high features of Kinross’s Golden Saddle deposit reported quartz chips and gold values of 8, 9, 20, 25, 73 and 109 ppb with coincident pathfinder elements.
- Follow-up grid soil sampling is under way to better define gold-in-soils targets, followed by trenching.
- Airborne magnetic and radiometric surveys are completed, and the Company is awaiting final reports.
- Kinross’s Golden-Saddle Type Structures trending east-west have been identified on the property.
Tectonic Mineral / Comstock Metals Ltd (TEK TSX.V) (“the Company”) is pleased to provide an update on its QV Claims in the White Gold District in the Yukon.
Property Location & Description:
The QV Claims are about 70 kilometres south of Dawson City in the Yukon Territory. The Company optioned the QV Claims from Shawn Ryan, a Yukon prospector who helped discover Kinross Gold’s Golden-Saddle deposit and Kamniak Gold’s Coffee projects. The claims cover 9,650 hectares (23,830 acres) and are north of and contiguous with claims now held by Kinross Gold’s Golden Saddle deposit and formerly Underworld Resources. Please refer to the Company’s website at the link given for location and other related maps http://www.comstock-metals.com/projects/white_gold_north/
Aeromagnetic / Radiometric Survey:
The Company contracted Precision Geophysics Surveys who recently completed 773 line-kilometres of surveying at 100 m line spacing. The survey has been completed and the Company is waiting for delivery of the final data. This data will help identify regional scale structures, lithological contacts and zones of alteration.
Ridge and Spur Sampling Program:
The Company started a ridge and spur soil-sampling program and took a total of 1400 soil samples. One hundred eighty-three soil samples out of 1400 were reported of poor quality due to the frozen and/or partially frozen ground. The “poor” quality samples have returned no significant values. The details of the soil statistics are given below:
|Summary of Ridge & Spur Soil Results|
|# of Samples||Gold Values in Soil||Percentile|
|1151||10 ppb Au or less||95%|
|38||10 - 20 ppb Au||3%|
|17||20 - 30 ppb Au||1%|
|4||30 - 50 ppb Au||0.50%|
|7||50 - 275 ppb Au||0.50%|
Forty-two samples reported quartz chip, and six of the samples reporting quartz chip overlie the magnetic anomaly that runs through Kinross’s Golden Saddle deposit. The presence of quartz chips in samples is considered to be significant as it has been noted in samples taken over the Golden Saddle deposit.
Follow-up Grid / Ridge and Spur Soil Sampling:
The Company has initiated a follow-up grid soil / Ridge and Spur Soil sampling program to follow up on the soil anomalies discovered this spring. The southern part of the property will be covered with 2000 grid soil samples, and the northern part will be covered with 450 ridge and spur soil samples. As mentioned earlier, 183 soil samples were of poor quality, and the majority of those samples located in the northern part of the property were either frozen or partially frozen. Since there is enough evidence of gold mineralization with strong coincident pathfinder element in soils in the northern part, the Company thinks it’s necessary to do more ridge and spur soil sampling on the northern part of the property.
The Company has contracted Jean Pautler P.Geo to write a 43-101 report on the Company’s QV Claims. Jean completed her tour of the property and collected rock samples. The Company expects to have a technical report completed by late fall of this year. Jean has identified east-west trending quartz veins on outcrops.
Corona Gold Silver Project-Mexico:
Tectonic Mineral / Comstock is earning 75% interest through an option agreement from Golden Goliath Resources. Agnico Eagle has signed a Letter of Intent with Golden Goliath on its Las Bolas Project in Uruachic Mining camp in Chihuahua, Mexico. The Company’s Corona Gold Silver project is located in the same camp. The Company is planning on starting an exploration program later this fall to drill-test targets generated from previous work. Historic reverse circulation drilling has identified both bulk tonnage and high-grade vein type gold silver targets to be drill-tested with a diamond-drill program.
Gordon Davidson, P.Geo. has reviewed technical contents of this News Release.
For further information, contact Rasool Mohammad or Larry Johnson at 604-639-4533.
You can also visit the Company’s website at www.comstock-metals.com for more information.
Rasool Mohammad, B.Sc. (Mining)
President & CEO
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.