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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL

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From: PaperPerson7/26/2012 1:26:26 AM
   of 4690
 
Comstock Metals' Yukon Gold Discovery 3.74 grams per tonne gold over 75 metres

July 25, 2012
Highlights

3.74 grams/tonne gold (g/t Au) over the entire 75 m length of QVTR12-06
0.85 g/t Au over 45 m in QVTR12-03 205 m along strike of QVTR12-06
mineralization consists of quartz veins, stockwork, silicification and weak brecciation, accompanied by minor pyrite
a minimum 265 m strike extent for the gold-bearing structure–Northeasterly (070°-075°) gold trend is consistent with other deposit(s) in the district
in comparison, initial trench results of Kinross Gold Corporation’s White Gold deposit, 15 km to the south of the QV, returned 1.3 g/t Au over 37.5 m from the Golden Saddle zone; initial trench results from the Coffee Project of Kaminak Gold Corporation included 2.3 g/t Au over 21.0 m and 11.45 g/t Au over 5.0 m


July 25, 2012, Vancouver, BC – Comstock Metals Ltd. (TSX-V:CSL) (the "Company") is pleased to announce initial results from its trenching programme on the QV Project located in the heart of the White Gold district, Yukon Territory. Results for three out of six trenches on the QV Grid have been received; the balance are pending. The six trenches were excavated by Talus Exploration Inc. of Dawson City, using a Candig mini-excavator.

The discovery trench, QVTR12-06, assays 3.74 g/t Au over 75 m (entire length of the trench), with a maximum grade of 7.31 g/t Au over 5 m and a minimum grade of 1.41 g/t Au over 5 m. The gold mineralization is open on all sides of QVTR12-06.

For more details on the 2012 Trenching program, please refer to the following link:
comstock-metals.com

Sampling was completed by GroundTruth Exploration Inc., also of Dawson City, under the direction of Jean Pautler, P.Geo.

About Comstock Metals Ltd.

Comstock has optioned 494 claims covering 10,374 hectares (25,634 acres) within the prolific White Gold District in the Yukon Territory about 70 kilometres south of Dawson City. The claims were optioned from Shawn Ryan, a Yukon-based prospector responsible for the discovery of two of the prominent gold discoveries in the White Gold district: Kinross Gold’s 1.5 million ounce Golden Saddle deposit and Kaminak Gold’s Coffee projects. The Company has completed two soil-sampling programs on the QV property with encouraging results.

The Company is also earning a 75% interest on the Corona project by an option agreement from Golden Goliath Resources (GNG). Comstock’s Corona Gold-Silver project is located in the prolific Sierra Madre Occidentale in Chihuahua, Mexico, and the Company completed a drill program in the spring of 2012. The drill program discovered two new zones of gold and silver mineralization. Please visit the Company’s website at comstock-metals.com for the details. Previous reverse circulation drilling identified both bulk tonnage and high-grade vein type gold/silver targets, some of which the Company plans to diamond-drill.
For the Corona Gold Silver Project location please visit the following link: comstock-metals.com

To learn more please visit the Company’s website at: www.comstock-metals.com
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