Gold, lithium and copper

Comstock Mining gets approval for heap leach pad expansion. [Marketwired]  The only mine now operating in the Comstock area aside from a few solitary high-graders.

Another junior moves into Clayton Valley. [Junior Mining Network]   Paul Gray’s Zadar Ventures (last in uranium) signs a “standstill agreement”.

Everybody into the pool.

Everybody into the pool.

Goldcorp. invests in Gold Standard Ventures. []  …thereby positioning itself nicely to take over Railroad-Pinion if things continue to go well.


Viscount Mining hits at Cherry Creek. [Viscount Mining]   Cherry Creek, 30 miles north of Ely, was a booming little place in the 1870’s.  Six hits in the first 12 holes. Stockwatch’s take on the results here….

Kaare Foy and Jim MacKenzie’s Viscount Mining Corp. (VML), up 2.5 cents to 49.5 cents on 165,000 shares, has received assays of up to 50.03 grams of silver per tonne over 30.5 metres at its Cherry Creek project in Nevada. Nine of the other 11 reported holes yielded silver, including one that averaged 117.6 grams over 12.2 metres. Modest amounts of gold accompanied the silver, but the project remains very much a silver prospect: the best gold assay ran just 0.128 gram of gold per tonne over 21.3 metres in a hole that did not yield any silver.

Mr. Foy, chairman, says he and his crew are very encouraged with their “maiden drill program,” which successfully targeted large intervals of silver mineralization. He says the significance of his news is that this is the first time in over a century that modern exploration techniques have been used at Cherry Creek. (Indeed it would have been a promotional bombshell had 19th century drillers found a way to use 21st century equipment.) He says nothing about the next step at Cherry Creek, probably because that depends on Viscount’s co-venturer, Summit Mining Exploration Inc., a United States subsidiary of Japan-based Sumitomo Corp. Summit can earn a 75-per-cent interest in the project by spending $10-million over eight years.

Mr. Foy, who seems to view remuneration the old fashioned way (with restraint, not oinking) does not draw any salary or receive any director’s fees for his work at Viscount, but his 560,000 shares of Viscount have appreciated significantly since they traded at just 16 cents last summer. (He also did well at Great Panther Silver Ltd. (GPR: $0.78), stepping down as the company’s $415,000-per-year chairman in 2011 and selling most of his stock near $5.) Viscount’s main paid help is Mr. MacKenzie, president and CEO, who has been earning $150,000 annually for the past three years.

And now what!?  Rare Arizona Jaguar found lurking near HudBay’s Rosemont Mine. [IKN]  Just one thing after another as Augusta and now HudBay try to put this project into production.  When the environmentalists manage to tag the local hills as “The Sky Islands” you know you’re in big trouble.  According to  this patch of desert is as special as you can get as, in addition to the cat, it is the reputed home of

  ..the Gila chub and Gila top minnow  plus the Chiricahua leopard frog, southwestern willow flycatcher, Huachuca water umbel, and two species recently proposed for Endangered Species protection, the northern Mexican garter snake and yellow-billed cuckoo.

Cuckoos are rare in Arizona?  Who knew?