CEO Blog - September 14, 2011
Wednesday, September 14 2011 11:44
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Question:  I am interested in your progress in mining & production. I would like to know how many years it will take to produce 3,250,000 oz.?

Answer:  Thank you for your question regarding the production of 3.25 million Au/eq. ounces. Comstock Mining has identified two basic tenets in its strategic goal: "to deliver value by validating qualified resources (at least measured and indicated) and reserves of 3,250,000 gold equivalent ounces by 2013, and commencing commercial mining and processing operations in 2011, with annual production rates of 20,000 gold equivalent ounces."

The 3.25 million Au/eq. ounces is the exploration component of the goal. Our production goal of 20,000 Au/eq. ounces per year is for our starter mine located on the west side of the Lucerne Resource Area that we estimate has about four years of life. Future expansion of both the starter mine and a potential second mine in our Dayton Resource Area should allow for our annual production numbers to increase, but it is premature to know or estimate how that would translate into a mine plan.

We are building a company based on safe, responsible mining that will advance the greater social and economic potential of the Comstock through long-term development, preservation and restoration.  We will build these mine plans carefully and thoughtfully, mining in ways sensitive to the unique qualities of the Comstock Historic District.  All in all, we anticipate future mine plans that will be part of the Comstock for many decades to come.

Kindest regards,

Corrado De Gasperis
President and CEO