SOURCE: Comstock Foundation for History and Culture

Comstock Foundation for History and Culture

March 07, 2016 08:00 ET

Comstock Foundation Receives First Stock Donation From Mr. John Winfield

VIRGINIA CITY, NV--(Marketwired - March 07, 2016) - The Comstock Foundation for History and Culture (the "Foundation"), a recognized 501(c)(3) non-profit organization, today announced that it has received its first donation through a transfer of 100,000 shares of Comstock Mining Inc. common stock from Mr. John Winfield. Less than one year ago, Mr. Winfield pledged his support to the Foundation, committing 1,000,000 common shares over the next decade toward the preservation of these precious historic and cultural resources. The donations will contribute directly to the Foundation's efforts to advance the preservation of historic and cultural resources within the Comstock Historic District.

Mrs. Pamela Abercrombie, Executive Director of the Foundation commented, "We are thrilled at this extraordinary commitment and this first donation will enable some of our more immediate preservation needs. We are now working to restore the historic Donovan Mill, located in Silver City, Nevada, and open this great Comstock treasure to the public."

The Foundation has undertaken several emergency restoration projects since 2013, including the recent Donovan Mill efforts and the iconic Upper Yellow Jacket Hoist and Ore Chute. Records indicate the Donovan Mill began as the Kelsey Mill in 1861, which processed ore from then-working Comstock mines. It was in 1895 when Professor Jackson of the UNR School of Mines began his work of pioneering the cyanide leaching process right here on the Comstock. His work was at the forefront of a metallurgy revolution in mining. William Donovan, Sr. purchased the site in 1912, and for three generations, the Donovans were leaders of milling on the Comstock. Records describe the Yellow Jacket as one of the richest mines in the history of the Comstock where a wooden hoist lifted ore carts and miners up from the historic mine. The Yellow Jacket structure stands directly above the tracks of the Virginia and Truckee Railroad in Gold Hill and is seen by tens of thousands annually.

This particular relic dates to roughly 1938 and had deteriorated significantly. The Foundation literally saved it from collapse, restoring it for future generations to enjoy. The Foundation has also contributed to preservation projects involving the Fourth Ward School Museum, St. Mary's Art Center, and the Comstock Cemetery Foundation, among many others.

Mr. Corrado DeGasperis, Chairman of the Foundation, commented, "The importance of saving nationally prominent cultural assets like the Donavan Mill and the Yellow Jacket Hoist and Chute structure cannot be exaggerated. With Pam's leadership and John's support, we are better able to identify, protect, preserve and restore critically at-risk cultural assets that are vital elements of our precious landmark. We could not be more grateful for this leadership and support."

About The Foundation

The Comstock Foundation for History and Culture is a 501(c)(3) organization founded in 2013. Donations to the Comstock Foundation may be tax deductible. Please contact Pam for more information on how you too can donate and support our mission. The Foundation's mission is to encourage the preservation and promotion of historic and cultural resources within the Comstock Historic District. The District was granted National Historic Landmark status in 1961, and is one of the largest landmarks in the country. The Comstock Lode played a critical role in the history of mining between 1859 and 1942, producing an enormous amount of gold and silver and defining the cutting edge of mining technology during the nineteenth and early twentieth centuries. The history of the Comstock not only influenced the State of Nevada, but it influenced San Francisco and the nation; therefore, the Comstock Foundation's undertaking to Restore the Legacy of a Nation contributes to the revitalization of the Comstock in its truest essence.

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