Showcase Minerals Acquires a Comstock Silver Property and Plans a Drill Program on the Grassy Claims

Core Viewpoint - Showcase Minerals Inc. has entered into an option agreement to acquire a significant silver property in British Columbia, which includes three mineral claims covering 2080.8 hectares and the former Comstock mine [1][4]. Property Acquisition - The property acquisition allows the company to earn a 100% interest, subject to a 3% net smelter returns royalty, through cash payments of $300,000 over two years and issuing shares valued at $100,000 on each anniversary of the agreement [4]. Historical Context - The Comstock mine has a historical production record from 1898 to 1920, with a total of 455 tonnes of ore mined, yielding 1,687,774 grams of silver, 12,387 grams of gold, 217,634 kilograms of lead, and 126,657 kilograms of zinc [2]. Geological Features - The mineralization at the Comstock mine is characterized by quartz veins within a brecciated zone, containing galena, sphalerite, minor tetrahedrite, and trace pyrargyrite [3]. Grassy Gold Project - The company is planning a spring drill program for the Grassy Gold Project, located near the Premier Gold Mine, which historically produced over two million ounces of gold [5]. Mineralization Details - The Grassy property features epithermal, low sulphidation mineralization, primarily consisting of pyrite, sphalerite, galena, and chalcopyrite within quartz-carbonate breccia veins [6]. Geochemical Program Results - In the 2024 geochemical program, the Rama Vein samples showed gold values between 12.68 to 31.9 ppm, silver values from 376 to 1,812 ppm, lead values from 0.3% to 39.89%, and zinc values from 0.68% to 26.93% [8]. Private Placement Financing - The company plans to complete a non-brokered private placement of up to 8,000,000 units at $0.10 per unit, aiming for total gross proceeds of up to $800,000, with specific allocations for flow-through shares and general working capital [9][10]. Insider Participation - Insiders may participate in the private placement, with exemptions from formal valuation and minority shareholder approval requirements [11]. Company Overview - Showcase Minerals Inc. focuses on the exploration and acquisition of mineral properties, particularly in British Columbia's precious metal sectors, including the Golden Triangle and historic silver districts [14].