New Gold rush as Gold prices rise

With the values of gold and silver claiming almost daily previously uneconomic gold mines are bringing speculators back into historic areas of the USA fuelling a new gold rush.

Comstock Mining is one company following the old gold rush trail. The mining company has acquired property and mining claims encompassing some 6,100 acres stretching roughly from Virginia City to Dayton, including Gold Hill and Silver City.

Corrado De Gasperis, Comstock Mining’s president and CEO, said test drilling has identified deposits of gold and silver worth more than $2 billion, and the mining will provide jobs and a boost to the local economy.

“We’re hitting tremendous amounts of gold and silver. We’re hitting bonanza grade,” De Gasperis said. “We’re going to mine.”

Discovered in 1859, the area has yielded about 9 million ounces of gold and 220 million ounces of silver, worth about $12 billion in today’s prices.

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