Comstock Mining Inc.(NYSEMKT:LODE) secured over 300 acres of private lands adjacent to the approximately 77 acre American Flat processing area. The land is a strategic expansion opportunity for the company as it opens to the doors for leaching, processing, refining and potentially, milling solutions for the district. The Company now owns or controls over 7,000 acres of land, including patented and unpatented mining claims.
According to the company’s press release:
The Company has now commenced district-wide planning, engineering and feasibility studies for resource and reserve development and growth beyond the current Lucerne mining operations through a responsible, district-wide expansion plan. These planning, engineering and feasibility studies will produce an expanded mine plan for Lucerne, further mineral assessment for the Spring Valley and Dayton Resource Areas, and ultimately, potential mine plans. The district-wide plan will also assess centralized processing capability.
Corrado De Gasperis, President and CEO of Comstock Mining Inc. commented:
Over the past few months, we have significantly increased the intrinsic value of our company and the Comstock communities. Our land consolidation, responsible operations and community-wide support network continue to grow in every respect. Our collaborations with these communities are centered on well-planned projects that promote responsible development in this historic, world class gold and silver mining district.