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Tombola blast towards production at Comstock

18 October 2021 12:22
ASX: TBA

Tombola Gold Limited has seen mining activities get off to an explosive start at the historic Comstock gold mine near the prolific Golden Mile tenements southeast of Cloncurry, Queensland.

The Sydney-based explorer has begun mining activities at the historic mine, as gold trades above $US1,700 per ounce, blasting away at around 42,000 tonnes of rock that has been left undisturbed since the Second World War.

Following grade control sampling, the company is eagerly anticipating results that will assist in marking out high-grade areas in preparation for open-cut mining following its first successful first drill and blast at the site.

Comstock is one of eight historic gold mines within the Golden Mile, now belonging to Tombola. Until the company took over the tenements, the mines had remained dormant since 1939.

But more recent field investigations have returned multiple high-grade rock chip assay results, including rock chip assays exceeding 70 grammes of gold per tonne of rock from the Comstock Lode.

The company’s Australian Stock Exchange-listed price has risen 2.5 per cent today, trading at 4.0c today (11:51 am GMT + 8 hours).

 

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