en.Wedoany.com Reported - Mackay Gold & Silver (TSX-V: MACK) has announced it will acquire Comstock's (NYSE American: LODE) mining assets in Nevada, USA, for $27 million (C$38.57 million), a move that will create the largest consolidated land package in the 167-year history of the Comstock District.

Comstock's Silver City Lode claims, adjacent to Mackay's existing assets, contain two oxide gold-silver deposits with historical resource estimates dating back to 2022, compliant with US S-K 1300 standards.

The acquisition will expand Mackay's land holdings by 70% to 4,343 hectares and, for the first time, bring the district's three major vein systems—Silver City, Occidental-Brunswick, and Comstock—under single ownership.

Mackay will pay $20 million in cash and issue 2 million common shares at closing, followed by an additional $7 million in cash and stock over the next 18 months.

CEO Darwin Green stated that land consolidation is key to unlocking modern exploration in the district. He said that by removing the claim boundaries that have long divided this camp, targets and structural extensions that previous operators were never able to test can now be evaluated. He added that this is a district that has historically produced enormous amounts of gold and silver at extremely high grades, yet has seen surprisingly little modern exploration—a combination that offers opportunities for major new discoveries.

Mackay stated that its balance sheet, with over $60 million in funds, is sufficient to cover all cash payments while maintaining a strong financial reserve for ongoing exploration targets. The company's near-term focus remains on its initial 20,000-meter drilling program at the Occidental-Brunswick vein, which is currently underway.

Mackay Gold & Silver is an exploration company focused on acquiring and advancing mineral assets in the historic Comstock District of Nevada.

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