Comstock Metals Signs Agreement to Acquire Old Cabin Project and Preview SW Gold Project

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Comstock Metals has signed an agreement to acquire Select Sands’ Preview SW gold project in the La Ronge district of Saskatchewan, and the Old Cabin property in Ontario.

Under the terms of the agreement, Comstock will acquire these properties for 20 million common shares in the capital of the company, as well as the assumption of certain liabilities associated with them.

Of interest to Wawa and Algoma District readers is that Select Sands’ 1,118ha Old Cabin Project is located 80km northeast of Wawa and 10km east of Richmont Mines’ Island Gold Mine. Surface sampling and geological mapping of the six claims show a total of 13 discrete gold zones associated with shear zones and iron carbonate alteration.

In 2009/2011 the stripping of nine (9) areas to expose historical trenches took place, of the 82 channel samples, five samples were over 2.0g/t Au including two over 49.0g/t Au.

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