Comstock Mining secures more property |

Comstock Mining secures more property

Nevada Appeal Staff Report

VIRGINIA CITY — Comstock Mining Inc. has secured more than 300 acres of private land to provide expanded opportunities for the gold and silver mining firm.

The property is adjacent to the nearly 77 acres area called American Flat and affords the company a chance to expand leaching operations, processing, refining and perhaps milling solutions in the district, according to a Comstock spokesman.

“Over the past few months,” said Corrado de Gasperis, president and CEO, “we have significantly increased the intrinsic value of our company and the Comstock communities.” He said in a news release that land consolidation, operations and community support are growing.

The firm also announced that a recent restructured transaction involving claims and various properties has eliminated $2 million of debt and canceled earlier royalty obligations involving mining claims in the Dayton area of Lyon County to the south of Virginia City.