Comstock Metals Ltd. · TSXV:CSL.H
Comstock Metals — Investor Presentation (June 2018)
33 slides from Comstock Metals's investor presentation, June 2018
Slide 1: Corporate Presentation June 2018
TSX-V: CSL CORPORATE PRESENTATION | JUNE 2018
Slide 2: Disclaimer
DISCLAIMER This presentation includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding potential mineralization and re
Slide 3: Corporate Overview
CORPORATE OVERVIEW Vancouver-based Comstock Metals Ltd. (TSX-V: CSL, OTC: CMMMF) is a mineral exploration company focused on advancing its resource-stage gold projects in premiere Canadian mining jurisdictions, as well as the identification and acquisition of prospective battery metals projects. The
Slide 4: Management, Directors and Advisors
MANAGEMENT, DIRECTORS AND ADVISORS Steven Goldman, B.A., J.D. | Interim CEO & Director Dr K. Sethu Raman - Advisor • Senior partner in a Toronto law firm • Substantial public board and private company experience Darren Urquhart, CPA, CA | CFO • Over 15 years of experience in public and private pract
Slide 5: Projects
PROJECTS PREVIEW SW GOLD PROJECT QV GOLD PROJECT The Preview SW Gold Project is located 40 km north of La Ronge, Saskatchewan and 80 km southwest of SSR Mining’s Seabee gold PATERSON LAKE NE URANIUM PROJECT mine. PREVIEW SW GOLD PROJECT RAWHIDE COBALT-SILVER PROJECT Located in the Ontario’s historic
Slide 6: Rawhide Cobalt-Silver Project, Ontario
RAWHIDE COBALT-SILVER PROJECT, ONTARIO • Option agreement to earn 100% in 5 claims totalling 662 ha; announced April 5, 2018 • Gowganda area of the historic Greater Cobalt Mining Camp of northern Ontario which produced >550 Moz of silver and 25 Mlb of cobalt in the 1900s1 • One of the most prospecti
Slide 7: Preview SW Gold Project, Saskatchewan
PREVIEW SW GOLD PROJECT, SASKATCHEWAN • Saskatchewan ranked 1st out of 104 global mining jurisdictions by the Fraser Institute in the Investment Attractiveness Index and 3rd in the Best Practices Mineral Potential Index • Saskatchewan is Pro-Mining and Development • Preview SW gold project is locate
Slide 8: Preview SW Gold Project, Saskatchewan
PREVIEW SW GOLD PROJECT, SASKATCHEWAN PREVIEW SW GOLD PROJECT • 100% owned 853 ha property Contact Lake • Structurally-controlled mesothermal gold Past Producer mineralization hosted by metamorphosed volcanic and diorite-felsic intrusive rocks • 7 known gold zones along +3.5km structural trend; most
Slide 9: Preview SW Deposit
PREVIEW SW GOLD PROJECT, SASKATCHEWAN PREVIEW SW DEPOIST • The main Preview SW deposit is comprised of several sub-parallel northeast-trending gold-bearing quartz-sulphide mineralized structural zones collectively ~500 m in strike length and ~150 m in width. • Preliminary metallurgical test work ind
Slide 10: Current Mineral Resources
PREVIEW SW GOLD PROJECT, SASKATCHEWAN CURRENT MINERAL RESOURCES • Preview SW project database contains results from 162 core holes, totaling 26,250 m, drilled between 1985 and 2013 • 136 holes drilled on the main Preview SW deposit - basis for a NI 43-101 Compliant Resource Estimate1 Category COG g/
Slide 11: 2017 Drilling and Surface Sampling
PREVIEW SW GOLD PROJECT, SASKATCHEWAN 2017 DRILLING AND SURFACE SAMPLING 2,039.5m in 12 DDH C Zone B Zone A Zone Preview SW deposit 1,849.0m in 7 DDH CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 11
Slide 12: Preview North Zone – PR13-163
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH ZONE – PR13-163 5.71 @ 17.99 g/t Including 1.98m @ 50.62 g/t 5.66 m @ 5.96 g/t CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 12
Slide 13: Preview North – 2017 Drilling
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH – 2017 DRILLING CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com 13
Slide 14: Preview North – Humus Sampling and Ground Magnetics
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH – HUMUS SAMPLING AND GROUND MAGNETICS • 150m by 30m NE trending area of anomalous samples to 0.86 ppm Au along west margin of magnetic and topographic high parallel to North zone • 250m by 30m anomaly coincides with magnetic low oblique to NE- SW dominant trend
Slide 15: Preview North – Zone Longitudinal Section
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH – 2017 DRILLING – ZONE 1 LONGITUDINAL SECTION OPEN 5.71m @ 19.98 g/t 0.55m @ 13.2 g/t 2.0m @ 9.66 g/t 2.3m @ 5.31 g/t OPEN CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 15
Slide 16: Preview North – Zone Longitudinal Section
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH – 2017 DRILLING – ZONE 2 LONGITUDINAL SECTION 4.2m @ 9.66 g/t 5.66m @ 9.96 g/t 16.7m @ 5.08 g/t 12.0m @ 4.64 g/t OPEN CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 16
Slide 17: Preview North – Zone Longitudinal Section
PREVIEW SW, SASKATCHEWAN PREVIEW NORTH – 2017 DRILLING – ZONE 3 LONGITUDINAL SECTION 3.25m @ 87.16 g/t 1.6m @ 83.39 g/t 5.0m @ 16.19 g/t OPEN OPEN CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 17
Slide 18: Preview SW – 2017 Drilling
PREVIEW SW, SASKATCHEWAN PREVIEW SW – 2017 DRILLING CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com 18
Slide 19: QV Project, Yukon – White Gold District Geology
QV PROJECT, YUKON WHITE GOLD DISTRICT GEOLOGY Brewery Cr. Eagle - Victoria Golden Predator Keno Hill Alexco VG Deposit - QV Golden Saddle – White Gold Coffee – Goldcorp Casino - Western Copper CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com
Slide 20: Yukon, Canada
YUKON, CANADA • Ranked 15th out of 104 global mining jurisdictions by the Fraser Institute* in the Investment Attractiveness Index and 16th in the Best Practices Mineral Potential Index • PRO MINING AND PRO DEVELOPMENT • Eleven of fourteen First Nations claims are settled • Majors including Newmont
Slide 21: QV Project, Yukon – Background
QV PROJECT, YUKON BACKGROUND ▪ The 100% owned QV Property covers +16,000 hectares (40,000 acres) within the prolific White Gold District ~70 km south of Dawson City. ▪ QV is contiguous to the north of the White Gold project, which is currently being acquired by White Gold Corp. from Kinross Gold Cor
Slide 22: VG Zone and Golden Saddle
QV PROJECT, YUKON VG ZONE AND GOLDEN SADDLE ▪ VG zone and Golden Saddle deposit both occur on western flank of prominent north- trending magnetic high ▪ Focused along a E-NE striking NW dipping (50- 60˚) fault zones ▪ Strongest mineralization hosted in felsic gneiss/intrusive with enrichment at inte
Slide 23: VG Zone Geology and Follow-up Drill Targets
QV PROJECT, YUKON VG ZONE GEOLOGY AND FOLLOW-UP DRILL TARGETS 2012-13: 3400 m in 17 core holes 2016: 2423 m in 34 RAB holes CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com
Slide 24: VG Zone Cross-Section – Looking Northeast
QV PROJECT, YUKON VG ZONE CROSS-SECTION – LOOKING NORTHEAST CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com
Slide 25: VG Zone Samples of Mineralized Diamond Drill Core
QV PROJECT, YUKON VG ZONE SAMPLES OF MINERALIZED DIAMOND DRILL CORE Fine-grained felsic gneiss. Green color due to hydrothermal Felsic gneiss with rusty fractures after quartz and pyrite. sericite. Oxide mineralization in hole QV12-004. Felsic gneiss in early stage of kink-folding, fracturing and Sp
Slide 26: Inferred Gold Resources – 2014
QV PROJECT, YUKON INFERRED GOLD RESOURCES – 2014 1 Cut-off Grade Gold (g/t) Tonnes Gold Grade (g/t) Contained Gold (Ounces) 0.3 4,480,000 1.62 230,000 0.4 4,420,000 1.64 230,000 0.5 4,390,000 1.65 230,000 0.6 4,340,000 1.66 230,000 0.8 3,970,000 1.75 220,000 1.0 3,520,000 1.86 210,000 1 - Unless oth
Slide 27: Large Property with Additional Prospective Targets
QV PROJECT, YUKON LARGE PROPERTY WITH ADDITIONAL PROSPECTIVE TARGETS Shadow Target: HIGH PRIORITY ▪ Large gold-in-soil anomaly TARGETS ▪ 85 m of 0.33 g/t Au in trench ▪ 2,500m by 1,400m target area ▪ 9.14m @ 0.66 g/t Au – 2016 RAB drilling Stewart Target: ▪ Large soil anomaly and anomalous mineraliz
Slide 28: 2016 VG Zone Diamond and RAB Drilling
QV PROJECT, YUKON 2016 VG ZONE DIAMOND AND RAB DRILLING 4.57m @ 1.03 g/t Au 64.01m @ 0.52 g/t Au Incl. 10.67m @ 1.65 g/t Au 35.05m @ 0.46 g/t Au 18.29m @ 1.14 g/t Au 16.76m @ 1.43 g/t Au 57.91m @ 1.89 g/t Au 18.29m @ 1.81 g/t Au Incl. 12.19m @ 5.53 g/t Au 6.10m @ 0.21 g/t Au 21.34m @ 0.21 g/t Au Inc
Slide 29: VG Zone Geophysics and RAB Drilling
QV PROJECT, YUKON VG ZONE GEOPHYSICS AND RAB DRILLING Looking West Northeast VG Zone - Resistivity Looking West Western VG Zone Resistivity CORPORATE PRESENTATION JUNE 2018 TSX-V: CSL | www.comstock-metals.com 29
Slide 30: Pit-Constrained Resources
QV PROJECT, YUKON PIT-CONSTRAINED RESOURCES LOOKING NORTHEAST CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com 30
Slide 31: 2017 Fall Exploration Program
QV PROJECT, YUKON 2017 FALL EXPLORATION PROGRAM ▪ 904.4m completed in 6 HQ diamond drilling holes testing the western extension of the VG deposit ▪ QV17-018 (45.5 m averaging 1.42 g/t gold, starting at 67.5 m down hole) and QV17-019 (51.2 m averaging 1.48 g/t gold, starting at 98 m down hole) confir
Slide 32: Stock Information
STOCK INFORMATION* OUTSTANDING SHARES OPTIONS (WAP - $0.26) WARRANTS (WAP - $0.20) 79,520,130 6,520,000 33,511,051 TSX-V: CSL, OTC: CMMMF *As of January 5, 2018 CORPORATE PRESENTATION | JUNE 2018 TSX-V: CSL | www.comstock-metals.com 32
Slide 33: Head Office Contact
TSX-V: CSL HEAD OFFICE CONTACT 310-850 West Hastings Street +1 604 639 4533 Vancouver, BC Canada V6C 1E1 info@comstock-metals.com