RESPEC PROJECT

The Comstock Lode is one of the most historically significant precious-metals deposits in the world. The district is a six-mile-long epithermal system that has produced over 8 million ounces in gold and 200 million ounces of silver since 1859. Historically, mining was focused on underground operations to a depth of more than 3,000 feet, which shifted to open-pit scenarios in the first half of the 20^th century. Most recently, Tonogold’s predecessor, Comstock Mining Inc. (CMI), had an open-pit operation from 2013 to late 2015 with a cyanide heap-leach processing facility.

Tonogold gained ownership over a portion of CMI’s landholdings in 2016 that included the Lucerne deposit, the site of CMI’s operation which is located on the southern portion of the Comstock Lode. Tonogold contracted MDA/RESPEC to conduct a review of the existing data and model, perform a full database audit and model gold and silver domains, update the resource estimate, and compile a 43-101-compliant Technical Report. A Preliminary Economic Assessment was also performed on the Lucerne deposit.

In late 2018, Tonogold gained the remainder of CMI’s land holdings in Storey County, Nevada, which expanded their property from 1,200 acres to more than 4,700 acres. The land expansion included many famous mines of the historic Comstock Lode. Tonogold asked MDA/RESPEC to research and evaluate additional exploration targets within the new land package. Since early 2019 MDA/RESPEC has compiled most of the available data for the district including historical mine surveys, surface and underground geologic maps, drill data, in addition to numerous permitting and land maps. The bulk of the data required careful georeferencing in ArcGIS software prior to bringing it into a MineSight 3-D model.  Mostly because of a fractured land ownership prior to about 2010, this is the most comprehensive evaluation of the district since 1882.

Recently, MDA/RESPEC has developed an exploration drill program utilizing the historical data and that has been supported by archival research by a mine historian contracted by Tonogold. MDA/RESPEC is currently managing the preparation of all county, state, and Federal permits for the drilling program.