Comstock Mining Inc. (the “Company” or “Comstock Mining”) (NYSE
American: LODE) announced a number of salient updates on its
collaboration with Oro Industries Inc. (“Oro”), and the newly
formed company called Mercury Clean Up LLC (“MCU”), for the
manufacture and global deployment of mercury remediation systems
with proprietary mechanical, hydro, electro-chemical and oxidation
processes to reclaim, treat and remediate mercury from tailings and
industrial effluents.
In June 2019, announced that it would, through MCU, demonstrate
the feasibility of a mercury remediation system within the
historic, world-class, Comstock Lode mining district.
Comstock Mining provides the platform for testing the mercury
remediation system, and MCU conducts the initial trials starting
with a 2 ton per hour pilot operation that could scale up to 25
tons per hour.
Oro has commenced the manufacturing for the deployment of the 2
to 25 ton per hour mercury recovery plant in July 2019, and
recently completed the critical “Reverse-Helix Spiral Concentrator”
component of the system. The entire system will be mounted on
three separate trailers for mobility and will be set up on the
Company’s fully contained, double-lined processing facility during
the fourth quarter with an expected start date in December
2019.
In addition to completing the Reverse-Helix Spiral Concentrator
the Company, Oro and MCU have;
- Identified sample locations within the Carson River Mercury
Superfund Site (“CRMSS”), which will be sampled per an updated
Sampling and Analysis Plan (“SAP”). Once suitable sites have been
identified, bulk samples will be extracted and transported to the
MCU mercury remediation system located at Comstock’s American Flat
processing facility located in Storey County, Nevada;
- Coordinated and met with the Nevada Division of Environmental
Protection (“NDEP’) in mid-August, identifying project objectives,
preliminary sampling plans and prerequisite approvals of
engineering design changes, documentation standards, and periodic
reporting requirements; and
- Ordered the 200 gallon-per-minute dissolved air flotation
(“DAF”) water recycling treatment plant, also scheduled for
delivery in December.
Oro’s Helix Spiral concentrators can achieve the highest
concentration ratio and recoveries possible with almost any types
of material that can be concentrated by gravity. The design and
engineering principles of the multi-helix spirals embedded inside
the concentrator allows for full adjustment to concentrate mercury
and other heavy-metal contaminants, yielding the peak concentration
ratio with virtually no loss of material. This unique
characteristic means higher production rates and higher yields.
Mr. De Gasperis concluded, “MCU is moving full speed ahead. Our
experience in eliminating mercury contamination from the
environment, coupled with their technology and processing know-how,
positions a tremendous opportunity for our planet, our partners,
and our company and represents a significant step forward in our
strategy for delivering conservation-based, economically enhancing
mining technologies.”
The Company will provide additional updates in October 2019.
MCU, our process technologies, and the team, will be showcased
during our Annual General Meeting (AGM) scheduled for November 12,
2019, at the historic Gold Hill Hotel, 1540 S Main St, Virginia
City, NV 89440.
About Comstock Mining Inc.
Comstock Mining Inc. is a Nevada-based, gold, and silver mining
company with extensive, contiguous property in the Comstock
District and is an emerging leader in sustainable, responsible
mining. Comstock Mining began acquiring properties in the Comstock
District in 2003. Since then, Comstock Mining has consolidated a
significant portion of the Comstock District, amassed the single
largest known repository of historical and current geological data
on the Comstock region, secured permits, built an infrastructure
and completed its first phase of production. Comstock Mining
continues evaluating and acquiring properties inside and outside
the district, expanding its footprint and exploring all of our
existing and prospective opportunities for further exploration,
development, and mining. The near-term goal of our business plan is
to maximize intrinsic stockholder value realized, per share, by
continuing to acquire mineralized and potentially mineralized
properties, exploring, developing and validating qualified
resources and reserves (proven and probable) that enable the
commercial development of our operations through extended,
long-lived mine plans and developments that are economically
feasible and socially responsible.
Forward-Looking Statements
This press release and any related calls or discussions may
include forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical facts, are forward-looking
statements. The words “believe,” “expect,” “anticipate,”
“estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,”
“would,” “potential” and similar expressions identify
forward-looking statements, but are not the exclusive means of
doing so. Forward-looking statements include statements about
matters such as: future industry market conditions; future
explorations or acquisitions; future changes in our exploration
activities; future prices and sales of, and demand for, our
products; land entitlements and uses; production capacity and
operations; operating and overhead costs; future capital
expenditures and their impact on us; operational and management
changes (including changes in the board of directors); changes in
business strategies, planning and tactics; future employment and
contributions of personnel, including consultants; future land
sales investments, acquisitions, joint ventures, strategic
alliances, business combinations, operational, tax, financial and
restructuring initiatives; including the nature and timing and
accounting for restructuring charges, derivative liabilities and
the impact thereof; contingencies; environmental compliance and
changes in the regulatory environment; offerings, limitations on
sales or offering of equity or debt securities; including asset
sales and the redemption of the debenture and associated costs;
future working capital, costs, revenues, business opportunities,
debt levels, cash flows, margins, earnings and growth. These
statements are based on assumptions and assessments made by our
management in light of their experience and their perception of
historical and current trends, current conditions, possible future
developments and other factors they believe to be appropriate.
Forward-looking statements are not guarantees, representations or
warranties and are subject to risks and uncertainties, many of
which are unforeseeable and beyond our control and could cause
actual results, developments and business decisions to differ
materially from those contemplated by such forward-looking
statements. Some of those risks and uncertainties include the
risk factors set forth in this report and our Annual Report on Form
10-K for the fiscal year ended December 31, 2018, and the
following: adverse effects of climate changes or natural disasters;
global economic and capital market uncertainties; the speculative
nature of gold or mineral exploration, including risks of
diminishing quantities or grades of qualified resources;
operational or technical difficulties in connection with
exploration or mining activities; contests over our title to
properties; potential dilution to our stockholders from our stock
issuances, recapitalization and balance sheet restructuring
activities; potential inability to comply with applicable
government regulations or law; adoption of or changes in
legislation or regulations adversely affecting our businesses;
permitting constraints or delays; business opportunities that may
be presented to, or pursued by, us; acquisitions, joint ventures,
strategic alliances, business combinations, asset sales, and
investments that we may be party to in the future; changes in the
United States or other monetary or fiscal policies or regulations;
interruptions in our production capabilities due to capital
constraints; equipment failures; fluctuation of prices for gold or
certain other commodities (such as silver, zinc, cyanide, water,
diesel fuel and electricity); changes in generally accepted
accounting principles; adverse effects of terrorism and
geopolitical events; potential inability to implement our business
strategies; potential inability to grow revenues; potential
inability to attract and retain key personnel; interruptions in
delivery of critical supplies, equipment and raw materials due to
credit or other limitations imposed by vendors; assertion of
claims, lawsuits and proceedings against us; potential inability to
satisfy debt and lease obligations; potential inability to maintain
an effective system of internal controls over financial reporting;
potential inability or failure to timely file periodic reports with
the SEC; potential inability to list our securities on any
securities exchange or market; inability to maintain the listing of
our securities; and work stoppages or other labor difficulties. The
occurrence of such events or circumstances could have a material
adverse effect on our business, financial condition, results of
operations or cash flows, or the market price of our securities.
All subsequent written and oral forward-looking statements by or
attributable to us, or persons acting on our behalf are expressly
qualified in their entirety by these factors. Except as may be
required by securities or other law, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.
Neither this press release nor any related calls or discussions
constitutes an offer to sell or the solicitation of an offer to buy
the Debenture or any other securities of the Company. Contact
information: Comstock Mining Inc. P.O. Box 1118 Virginia City, NV
89440 ComstockMining.com Corrado De Gasperis Executive Chairman
& CEO Tel (775) 847-4755 degasperis@comstockmining.com Zach
Spencer Director of External Relations Tel (775) 847-5272 ext.151
questions@comstockmining.com
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