Mackay Gold & Silver to Acquire the Historic Big Bonanza, Consolidating the Entire 6 km Length of the Comstock Lode, Nevada, USA
Mackay consolidates the final missing piece of the Comstock Lode to achieve district-wide control.
Mackay Gold & Silver Corp. has entered a definitive agreement to acquire 100% of the Big Bonanza property, adding 392 hectares to its land package. The total consideration for the transaction is US$6.3 million, structured as US$2.0 million in cash, US$2.0 million in common shares, and US$2.3 million in deferred cash payable on the first anniversary of closing.
The acquisition consolidates the entire 6-kilometer length of the historic Comstock Lode under single ownership for the first time in 167 years. The property includes the Consolidated Virginia and California mines, which historically produced 1.13 million tonnes at grades of 87.4 g/t Au and 1,834 g/t Ag.
Under the terms of the deal, the seller retains a 2.0% NSR royalty, with Mackay holding the right to repurchase 1.0% for US$2.0 million. Closing is subject to TSX Venture Exchange approval and customary conditions, with a termination deadline of November 30, 2026.
Mackay Gold & Silver Corp. (MACK) has completed an acquisition that serves as the logical culmination of the consolidation strategy announced in June 2026. The transaction is expected and incremental to the previously announced Comstock Inc. acquisition.
Financially, the US$6.3 million cost is easily absorbed by the company’s approximately US$62 million cash position raised in April 2026, meaning no dilutive capital raise is required. The strategic impact is significant, as full control of the 6km lode allows for unified exploration modeling and infrastructure planning. However, the market likely priced in this consolidation step.
The deal includes a 2.0% NSR, which is a standard royalty burden, while the buyout option provides future flexibility.
Mackay Gold & Silver Corp. is a Nevada-based exploration company focused on the Comstock District, one of America's most historic gold-silver camps. Its flagship project, the Comstock District, now controls 4,747 hectares (47.5 km²), uniting the Silver City, Occidental-Brunswick, and Comstock Lodes. The project features historical production of 8.2 million ounces of gold and 192 million ounces of silver. Management is transitioning from land assembly to systematic exploration, targeting both shallow oxide zones and deep bonanza-grade structures.