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Comstock Mining Inc
Lucerne Underground Project
Thursday, January 21, 2016

On January 21, 2016 the Company provided an update on the first phase of the Company’s Lucerne underground exploration activities.

The following significant drill intercepts are highlights from the first two drill bay stations representing the first 15 holes drilled and analyzed through early December of 2015. 

Drill Bay One

  • LUGC-001 1.269 opt (43.50 g/t) Au and 0.352 opt (12.07 g/t) Ag over 5 ft.
  • LUGC-001 0.175 opt (6.00 g/t) Au and 1.427 opt (48.90 g/t) Ag over 10 ft.

              Includes 0.268 opt (9.19 g/t) Au and 1.753 opt (60.10 g/t) Ag over 5 ft.

  • LUGC-002 0.767 opt (26.29 g/t) Au and 2.704 opt (92.70 g/t) Ag over 2 ft.
  • LUGC-003 0.319 opt (10.94 g/t) Au and 0.373 opt (12.79 g/t) Ag over 5 ft.
  • LUGC-005 0.290 opt (9.94 g/t) Au and 0.790 opt (27.08 g/t) Ag over 2 ft.
  • LUGC-005 0.341 opt (11.69 g/t) Au and 1.875 opt (64.28 g/t) Ag over 2 ft.
  • LUGC-007 0.391 opt (13.40 g/t) Au and 0.484 opt (16.59 g/t) Ag over 4.5 ft.

Drill Bay Two

  • LUGC-006 0.142 opt (4.88 g/t) Au and 1.452 opt (49.77 g/t) Ag over 8 ft.

              Includes 0.318 opt (10.90 g/t) Au and 1.771 opt (60.71 g/t) Ag over 2.5 ft.

  • LUGC-013 0.104 opt (3.57 g/t) Au and 4.00 opt (137.13 g/t) Ag over 4 ft.
  • LUGC-015 0.345 opt (11.83 g/t) Au and 1.140 opt (39.09 g/t) Ag over 20 ft.

              Includes 0.424 opt (14.54 g/t) Au and 1.700 opt (58.27 g/t) Ag over 3 ft.
              Includes 0.426 opt (15.30 g/t) Au and 1.352 opt (46.36 g/t) Ag over 6 ft.
              Includes 0.386 opt (13.24 g/t) Au and 1.049 opt (35.95 g/t) Ag over 7 ft.

  • LUGC-017 0.528 opt (18.10 g/t) Au and 7.10 opt (243.40 g/t) Ag over 5 ft.

12116fig1Structural Mineralized Corridor - Includes PQ, Woodville, East and Chute Zone Targets

12116fig2Drift Extension Accessing Succor Target

Drill Bay

Hole

From-To

Length

Au Ounces per ton

Ag Ounces per ton

Au Grams per ton

Ag Grams per ton

Au Eq. Ounces per ton

1

LUGC15-001

283-293

10.0

0.175

1.427

6.00

48.90

0.193

 

Includes

288-293

5.0

0.268

1.753

9.19

60.10

0.290

1

  LUGC15-001*

358-363

5.0

1.269

0.352

43.50

12.07

1.273

 

1

LUGC15-002

157-161

4.0

0.137

2.564

4.70

87.90

0.170

1

LUGC15-002

219-221

2.0

0.767

2.704

26.29

92.70

0.802

 

1

LUGC15-003

44-49

5.0

0.319

0.373

10.94

12.79

0.324

1

LUGC15-005

81.5-86.5

5.0

0.096

3.100

3.29

106.27

0.136

1

LUGC15-005

114-122

8.0

0.115

0.415

3.94

14.22

0.120

 

Includes

114-116

2.0

0.290

0.790

9.94

27.08

0.300

1

LUGC15-005

268-270

2.0

0.341

1.875

11.69

64.28

0.365

1

LUGC15-005

302-307

5.0

0.171

0.212

5.86

7.27

0.174

1

LUGC15-005

312-317

5.0

0.107

0.426

3.67

14.60

0.112

1

LUGC15-005

322-327

5.0

0.096

0.181

3.29

6.21

0.098

1

LUGC15-005

370-374

4.0

0.093

0.904

3.19

30.99

0.105

1

LUGC15-005

382-387

5.0

0.083

0.312

2.85

10.70

0.087

1

LUGC15-005

441-447

6.0

0.094

1.143

3.22

39.18

0.109

 

1

LUGC15-007

119-123.5

4.5

0.391

0.484

13.40

16.59

0.397

1

LUGC15-007

209-214

5.0

0.083

2.088

2.85

71.58

0.110

 

1

LUGC15-008

187.9-193

5.1

0.147

0.099

5.04

3.39

0.148

 

2

LUGC15-006

331-339

8.0

0.142

1.452

4.88

49.77

0.161

 

Includes

331-333.5

2.5

0.318

1.771

10.90

60.71

0.341

2

LUGC15-006

358.5-365.5

7.0

0.130

0.549

4.45

18.80

0.137

 

2

LUGC15-010

159-164

5.0

0.100

0.598

3.43

20.50

0.108

2

LUGC15-010

168-173

5.0

0.090

0.446

3.09

15.29

0.096

2

LUGC15-010

176.5-181

4.5

0.126

0.785

4.30

26.89

0.136

 

2

LUGC15-012

158-163

5.0

0.083

0.192

2.85

6.58

0.085

 

2

LUGC15-013

118-122

4.0

0.104

4.000

3.57

137.13

0.155

 

2

LUGC15-015

42-45

3.0

0.104

1.161

3.57

39.80

0.119

2

LUGC15-015

117.5-121

3.5

0.198

0.076

6.79

2.61

0.199

2

LUGC15-015**

169.5-171

1.5

1.416

0.848

48.56

29.08

1.427

 

Includes

169.5-170.6

1.1

1.602

0.933

54.92

31.98

1.614

2

LUGC15-015

260-280

20.0

0.345

1.140

11.83

39.09

0.360

 

Includes

260-263

3.0

0.424

1.700

14.54

58.27

0.446

 

Includes

264.5-270.5

6.0

0.446

1.352

15.30

46.36

0.464

 

Includes

273-280

7.0

0.386

1.049

13.24

35.95

0.400

2

LUGC15-015

287-288.5

1.5

0.132

1.782

4.53

61.09

0.155

2

LUGC15-015

298-308

10.0

0.087

0.904

2.99

31.00

0.099

2

LUGC15-015

317-318

1.0

0.599

1.897

20.53

65.03

0.623

2

LUGC15-015

325-333

8.0

0.093

0.732

3.17

25.11

0.102

 

2

LUGC15-017

116-121

5.0

0.159

0.501

5.45

17.18

0.165

2

LUGC15-017

248-252

4.0

0.092

0.094

3.15

3.22

0.093

2

LUGC15-017

256-261

5.0

0.199

0.499

6.82

17.11

0.205

2

LUGC15-017

478-483

5.0

0.528

7.100

18.10

243.40

0.619

Reported values are from American Assay Labs (AAL) and Inspectorate American Corporation (Inspectorate) in Reno, NV

AAL and Inspectorate lab methods include standard fire assay with ICP finish and gravimetric finish per each labs internal protocols. 

Gold Equivalent 78:1 Ag:Au

* Value reported is average of original and check assay

** Pending additional total digestion assay on a portion of the interval

 

September 24, 2015: Underground Portal Advances and Drilling of Quartz Porphyry Structure Target Commences September 24, 2015: Underground Portal Advances and Drilling of Quartz Porphyry Structure Target Commences

Portal opening following blastPortal opening following blast

lucerne9 9 15 2 American Mining and Tunneling LLC Team Members

Preparing the Underground PortalPreparing the Underground Portal

Preparing the Underground PortalPreparing the Underground Portal