Comstock Mining Inc. (“Comstock”) (NYSE American: LODE) and Mercury
Clean Up (“MCU”) today announced that Comstock recently received
approval for an Engineering Design Change (“EDC”) from the Nevada
Division of Environmental Protection (“NDEP”) approving the Mercury
Remediation Pilot Test Plant located within Comstock's existing
leach pad.
Comstock Processing LLC and Mercury Clean
Up LLC
During 2019, Comstock Processing LLC, Comstock’s
wholly-owned subsidiary that owns all of the property, plant,
equipment and permits at 1200 American Flat Rd., near Virginia
City, NV, entered into a definitive agreement with Mercury Clean Up
LLC (“MCU”), in collaboration with Oro Industries Inc. (“Oro”), 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, and
the entrapped precious metals, from soils, waste and
tailings.
Comstock recently received approval for the EDC
from NDEP approving the Mercury Remediation Pilot Test Plant that
will be located within Comstock's existing heap leach pad under
Comstock’s existing Water Pollution Control Permit (NV-2000109).
The mercury treatment and recovery test location will be at
the north end of Comstock’s existing double lined Heap Leach Pad
and the treatment plant will be a zero-discharge, closed-loop
system. This NDEP and U.S. Environmental Protection Agency
(“EPA”) based approvals for sampling, analysis, and management of
historically-contaminated soils on Comstock properties enables MCU
to commence sampling and testing materials over the next two weeks,
with the objective of identifying the best target areas for mercury
remediation. Comstock provides the platform for testing and
MCU conducts the sampling and trials that prove efficacy,
scalability and feasibility.
Sampling will begin with using a portable,
gasoline-powered auger drill mounted on a hand-truck dolly that
extracts samples from 4-6 inch diameter holes from the material in
a grid fashion and the samples will be analyzed for mercury and
precious metals. The sampling auger drill is scheduled for
delivery onto Comstock’s site this week and MCU will begin
obtaining samples of possible mercury-contaminated soils, historic
mine and mill materials, historic tailings, and mine waste samples
using previously approved protocols for the Comstock's Carson River
Mercury Superfund Site (CRMSS). The Company will operate under
NDEP's and the EPA protocols, guidance and goals for sampling,
characterizing, transporting and managing mercury within the CRMSS.
The CRMSS Material Management Plan was previously approved by
NDEP’s Bureau of Corrective Action (“BCA”).
Larger scale excavation of materials will start
within a few months and the materials will be stockpiled near the
Pilot Test Plant. The Pilot Test Plant will start operating small
batches, likely in January, 2020. All material and process
water from the MCU test plant will remain on the heap leach pad.
All mercury recovered during testing will be collected into EPA,
United Nations, Department of Transportation approved liquid
mercury flasks or containers, and remain on the existing heap leach
pad until shipped offsite to an appropriate mercury storage or
management facility.
Mr. Corrado De Gasperis, Executive Chairman and CEO
stated, “Our focus on realigning and transforming the Company is
accelerating. Our team has secured permits and we are mobilizing
our drilling and sampling equipment to commence drilling and
sampling. The platform is in place for developing a world-class,
state of the art global mercury remediation system in 2020.”
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 that is currently commercializing
environment-enhancing, precious-metal-based technologies, products
and processes for precious metal recovery. The Company began
acquiring properties in the Comstock District in 2003. Since then,
the Company 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. The Company 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 Company’s goal is
to grow per-share value by commercializing environment-enhancing,
precious-metal-based products and processes that generate
predictable cash flow (throughput) and increase the long-term
enterprise value of our northern Nevada based platform.
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, acquisitions, investments and asset sales; future
performance of and closings under various agreements; future
changes in our exploration activities; future prices and sales of,
and demand for, our products; future impacts of land entitlements
and uses; future permitting activities and needs therefor; future
production capacity and operations; future operating and overhead
costs; future capital expenditures and their impact on us; future
impacts of operational and management changes (including changes in
the board of directors); future changes in business strategies,
planning and tactics and impacts of recent or future changes;
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; the nature and timing
of and accounting for restructuring charges and derivative
liabilities and the impact thereof; contingencies; future
environmental compliance and changes in the regulatory environment;
future offerings of equity or debt securities; the possible
redemption of debentures 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 our filings with the SEC 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 title to
properties; potential dilution to our stockholders from our stock
issuances and 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 businesses;
permitting constraints or delays; decisions regarding business
opportunities that may be presented to, or pursued by, us or
others; the impact of, or the non-performance by parties under
agreements relating to, acquisitions, joint ventures, strategic
alliances, business combinations, asset sales, and investments to
which we may be party; changes in the United States or other
monetary or fiscal policies or regulations; interruptions in
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 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 or others; assertion of claims, lawsuits and
proceedings; 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. 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, the solicitation of an
offer to buy or a recommendation with respect to any securities of
the Company, the fund or any other issuer.
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.151questions@comstockmining.com
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