Comstock Metals Ltd. · TSXV:CSL.H
Comstock Metals — Investor Presentation (August 2020)
32 slides from Comstock Metals's investor presentation, Aug 20, 2020
Slide 1: Corporate Presentation
TSX-V: CSL, OTC: CMMMF CORPORATE PRESENTATION August 20, 2020 STARTUP X 1
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 advancing a resource-stage gold project in Saskatchewan that includes the Preview SW deposit (NI 43-101 Indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading
Slide 4: Management, Directors, Advisors
MANAGEMENT, DIRECTORS, ADVISORS Steven H. Goldman, B.A., J.D. | President, CEO & Director • CEO (since 2018) and Director (since 2016) • Founder and Counsel to Goldman Hine, a Toronto law firm • Extensive public board and private company experience • Director of Select Sands Corp. (TSX.V: SNS) Arnol
Slide 5: Comstock Metals Shares
Comstock Metals Shares (TSX.V: CSL) STOCK INFORMATION* SUBSTANTIAL SHAREHOLERS *as of August 19, 2020 • Family Investment Fund (22.1 %) Share Price: $0.125 Market Cap: $2,742,593 • Select Sands Corp. (20.6 %) 52 week high: 0.20, low: 0.075 • Board of Directors (6.8 %) OUTSTANDING SHARES • 21,940,746
Slide 6: Comstock Metals Shares (FY2020: Q3)
Comstock Metals Shares (FY2020: Q3) HIGHLIGHTS* *as of June 30, 2020 CASH POSITION • Working Capital: $198,476 • Cash on Hand: $189,091 INVESTMENTS (Total: $1,937,030) • White Gold Corp. (TSX.V: WGO) - Common shares: 1,387,210 (Fair Value: $1,512,059) - Warrants: 350,625 (Fair Value: $159,971) • E3
Slide 7: Comstock Non-Brokered Private Placement
Comstock Non-Brokered Private Placement1 • The Units (“Units”) issued in the non-brokered private placement were priced at $0.075 per Unit. Each Unit consisted of one common share and one common share purchase warrant. Each warrant will be exercisable for a period of 36 months from closing at an exe
Slide 8: Assets
ASSETS PREVIEW SW GOLD PROJECT The Preview SW Gold Project is located 40 km north of La Ronge, 1 Saskatchewan and 80 km southwest of SSR Mining’s Seabee gold mine Flagship project with NI 43-101 Indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and I
Slide 9: Preview SW Gold Project
PREVIEW SW GOLD PROJECT • Preview SW deposit hosts NI 43-101 Indicated resources containing 158,300 ounces of gold (2.61 million tonnes grading 1.89 g/t Au) and Inferred resources containing 270,800 ounces of gold (5.70 million tonnes grading 1.48 g/t Au), both based on a 0.50 g/t Au cut-off grade1
Slide 10: History of the Preview Gold Claims
History of the Preview Gold Claims 1934-1938 1975-2004 2016 Gold mineralization discovered at Preview North Saskatchewan Mining Development Corp. Comstock Metals Ltd. and other outcrops. In 1937, area staked by G. (precursor to Cameco) acquires Preview claims acquires Preview claims Gilles. Preview
Slide 11: Preview SW Gold Project
PREVIEW SW GOLD Contact Lake Past Producer PROJECT • 100% owned 853 ha property • Structurally-controlled mesothermal gold mineralization hosted by metamorphosed volcanic and diorite-felsic intrusive rocks • 7 known gold zones along +3.5km structural trend; most with insufficient drill testing START
Slide 12: Preview SW Gold Project
PREVIEW SW GOLD PROJECT • Drilling completed since 2012 significantly increased strike length and depth of the Preview SW deposit • Drilling in 2017 and 2018 defined gold mineralization extending 350 m along strike and up to 140 m below surface at the Preview North zone • Drilling has focused on onl
Slide 13: Preview SW Gold Deposit
PREVIEW SW GOLD DEPOSIT • The main Preview SW deposit is comprised of several sub-parallel, northeast-trending, gold-bearing quartz- sulphide mineralized structural zones collectively ~550 m in strike length, ~250 m in width and ~275 m down dip 1 Comstock Metals Ltd. News Release, June 7, 2017 (www.
Slide 14: Preview SW Deposit 2016 Resource Estimate
Category COG g/t Au Tonnes Au g/t Contained oz Au Indicated 0.3 2,967,900 1.71 162,900 Inferred 0.3 7,343,800 1.24 291,800 PREVIEW SW DEPOSIT Indicated 0.4 2,784,500 1.80 160,800 Inferred 0.4 6,473,400 1.36 282,000 2016 RESOURCE ESTIMATE Indicated Inferred 0.5 0.5 2,607,900 5,697,100 1.89 1.48 158,3
Slide 15: Preview SW Deposit Drilling Highlights
PREVIEW SW DEPOSIT DRILLING HIGHLIGHTS • PR17-169: 1.01 g/t Au over 104.8 m1 - includes 6. 62 g/t over 3.5 m - and 3.0 g/t over 4.06 m • PR13-151: 633.61 g/t Au over 4.08 m2 - includes 1,123.25 g/t over 2.30 m • PR12-137: 7.49 g/t Au over 12.80 m3 • PR12-123: 6.41 g/t Au over 33.00 m4 - includes 15.
Slide 16: Preview SW 2017 Drilling and Surface Sampling
2,039.5 m in 12 DDH PREVIEW SW 2017 DRILLING AND SURFACE SAMPLING 1,849.0 m in 7 DDH STARTUP X 16 16
Slide 17: Preview SW 2017 Drilling PR17-169
PREVIEW SW 2017 DRILLING PR17-1691 1 Comstock Metals Ltd. News Release, June 7, 2017 (www.comstock-metals.com) STARTUP X 17 17
Slide 18: Preview SW 2017 Drilling PR17-171
PREVIEW SW 2017 DRILLING PR17-1711 1 Comstock Metals Ltd. News Release, June 7, 2017 (www.comstock-metals.com) STARTUP X 18 18
Slide 19: Exploration at Preview North
Exploration at Preview North 1940-1941 2013 2018 Preview Mines Ltd. sets up 5 ton mill at Preview La Ronge Gold Corp. intersects three near- Small drill program to North, and conducts small scale open pit mining. In surface gold zones in drill hole PR13-163. Two test extension of high 1941, one gold
Slide 20: Preview North Zone Drilling Highlights
PREVIEW NORTH ZONE DRILLING HIGHLIGHTS • PR13-1631: 17.98 g/t Au over 5.71 m (starting at 14.33 m depth) - includes 50.62 g/t over 1.98 m - and 5.96 g/t over 5.66 m (starting at 26.95 m depth) - and 1.88 g/t over 21.26 m (starting at 41.91 m depth) • PR17-1752 : 9.66 g/t Au over 4.20 m (starting at
Slide 21: Preview North Zone: PR13-163
PREVIEW NORTH ZONE: PR13-163 5.71 m @ 17.99 g/t Including 1.98m @ 50.62 g/t 5.66 m @ 5.96 g/t STARTUP X 21 21
Slide 22: Preview North Zone 2017 Drilling PR17-175 and PR17-176
PREVIEW NORTH ZONE 2017 DRILLING PR17- 175 AND PR17-1761 STARTUP X 22 1 Comstock Metals Ltd. News Release, September 28, 2017 (www.comstock-metals.com) 22
Slide 23: Preview North Zone 2017 Drilling PR17-178
PREVIEW NORTH ZONE 2017 DRILLING PR17-1781 STARTUP X 23 1 Comstock Metals Ltd. News Release, September 28, 2017 (www.comstock-metals.com) 23
Slide 24: Preview North 2018 Drilling
PREVIEW NORTH 2018 DRILLING STARTUP X 24 24
Slide 25: Preview North 2018 Drilling
• Drilling campaign consisted of five drill holes (total depth of 810 m) • Program designed to test the interpreted down-plunge and down- dip continuity of gold mineralization PREVIEW identified during 2017 drilling NORTH • Visible gold (VG) was identified in 1 four of the five holes drilled 2018 DR
Slide 26: Preview North 2018 Drilling
• Results from 2017 and 2018 drilling define three principal parallel structures/vein zones along which the main mineralized intercepts occur • Gold mineralization extends 350 m PREVIEW along strike and up to 140 m below surface; higher grades occur within a NORTH core zone over a strike length of a
Slide 27: Preview North 2018 Drilling
• PR18-187 drilled oblique to the interpreted strike direction of mineralized zones to test continuity of gold mineralization at shallow depth above previous drilling to the south • The 2018 drilling program identified PREVIEW significant additional high-grade gold NORTH mineralization near surface,
Slide 28: Preview North – Humus Sampling and Ground Magnetics
PREVIEW NORTH – HUMUS SAMPLING1 AND GROUND MAGNETICS • Detailed ground magnetics carried out over northern portion of property during spring and summer 2017 • Humus soil sampling “orientation” survey completed during summer 2017 exploration program over Preview North and the “C zone” • Preview North
Slide 29: Investment – White Gold Corp. (TSX.V: WGO)
INVESTMENT – WHITE GOLD CORP. (TSX.V: WGO) • Comstock received $375,000 cash, 1,500,000 WGO shares, and 375,000 warrants ($1.50 exercise price) for sale of QV project1 • Comstock currently holds 1,387,210 WGO common shares and 350,625 warrants (expire Feb. 28, 2022)2, WGO share price: $1.18 (August
Slide 30: Investment – E3 Metals Corp. (TSX.V: ETMC)
INVESTMENT – E3 METALS CORP. (TSX.V: ETMC) • Comstock holds 1,000,000 E3 Metals Corp. common shares (~3.28% of outstanding shares)1 • 30,477,401 shares outstanding2, ETMC share price: $0.26 (August 19, 2020) • International Energy Agency (IEA) predicting 24% annual growth in electric vehicles (EV) t
Slide 31: Investment – E3 Metals Corp. (TSX.V: ETMC)
INVESTMENT – E3 METALS CORP. (TSX.V: ETMC) • In November 2019, E3 Metals announced it had collected a large volume of lithium-enriched brine from the Leduc Reservoir in the Central Clearwater Resource Area (CCRA) of its Alberta Lithium Project. The 20,000 Li brine sample is the largest collected to
Slide 32: Head Office and Contact
TSX-V: CSL | OTC: CMMMF TSX-V: CSL HEAD OFFICE HEAD OFFICE CONTACT CONTACT 310-850 West Hastings Street Steven H. Goldman 310-850 West Vancouver, HastingsV6C BC Canada Street 1E1 +1 604 639 4533Toronto, ON Vancouver, BC Canada V6C 1E1 [email protected] (416) 867-9100 (office) (416) 917-1533 (
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