Comstock Metals (CSL.V) is ready to get back in the field in Canada’s Yukon Territory, as the company finalizing its plans for an extensive summer exploration campaign which will include more soil grids and the mapping and sampling of high-potential and high-priority drill targets.
On top of that, Comstock is planning up to 2,000 meter of diamond drilling to follow up on the RAB drill results from 2016. This is an important update as companies are not allowed to use the drill results obtained through RAB in resource estimates. By choosing the (cheaper) RAB drill programs to define the targets and to follow up with diamond drilling later on, Comstock is pretty certain it won’t waste the diamond holes on unproven areas. That’s why we would expect the company to have a very high ounces per diamond drill meter conversion ratio, as the way has already been paved by the previous RAB drill programs.
We expect the Yukon Territory to draw a lot of attention this summer as this once-forgotten district is being re-discovered now all the senior producers are chasing potentially large projects in safe jurisdictions. Goldcorp (GG, G.TO), Barrick Gold (ABX, ABX.TO), Agnico Eagle Mines (AEM, AEM.TO), Kinross Gold (KGC, K.TO), … you name it; they all directly or indirectly (through White Gold (WGO.V)) invested in gold projects in the Yukon.
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The author has a long position in Comstock Metals. Comstock is a sponsor of the website. Please read the disclaimer
