Tombstone Exploration Corporation Announces Update on Progress Toward Construction of Leach Pad to Commence Operations for Phase 1 of the Bonanza Mine Project
PHOENIX, Nov. 21, 2019 (GLOBE NEWSWIRE) -- Tombstone Exploration Corporation (OTCQB: TMBXF), a fully reporting company, announced today in combination with Goldrock Resources Inc. and the Bonanza Mining Company, the permitting process required to commence initial operations on its Harquahala Phase 1 joint venture heap leach project has been completed and all required permits have been filed. These permits include Plan of Operations- BLM, Aquafer Protection Permit – AZDEQ, Reclamation Plan - Dept. Of Reclamation, Air Quality Registration- AZDEQ. The Air Quality Registration has been approved!
All of the permits have been accepted as administratively complete and the Company expects the permits to be finalized by the end of the year. Questions to date have been answered to the State and Federal relevant agencies with respect to each permit. TMBXF now awaits for final approvals and will provide updates accordingly. The building of the leach pad for production of the 1st phase of the Bonanza Mine Project will start in the 1st quarter of 2020.
TMBXF President and CEO Alan Brown said, "Our team has worked diligently over the last six months to broaden from an exploration company to also include a mining operation company that will generate substantial cash flow in 2020. The initial portion of the Phase 1 leach pad will accommodate 500,000 tons of already mined material that tests have shown contain an estimated 26,000–50,000oz of gold. We are fortunate to have private land to build our heap leach pad and recovery operation on and requests for construction bids are being circulated at this time. We now await final approval of permits filed and are committed to commence operations at our earliest opportunity."
The Bonanza Mine property includes the Harquahala and Golden Eagle Mines, located approximately eight miles south of Salome, Arizona. The project totals 2,656 acres and has significant underground workings, from which some 180,000-200,000oz of gold were reportedly produced from high-grade ore in the late 1800s and early 1900s.
The Bonanza Area Claim Block has multiple historical and current reports that suggest an additional 250,000-350,000oz gold in target areas along with 1–1.5MMoz of gold overall potential.
About Tombstone Exploration Corporation
Tombstone Exploration Corporation is a gold, silver and copper exploration company based in Phoenix, Arizona. The company’s goal is to maximize shareholder value through focused exploration, testing and development of high-quality mineral targets in the prolific mineral producing areas in the Southwest United States. This goal will be achieved through the application of the best mineral exploration practices and techniques available, including the adherence to the highest possible standards of corporate responsibility, governance and conduct.
FORWARD-LOOKING STATEMENTS
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Tombstone Exploration Corporation, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are Tombstone Exploration Corporation’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Tombstone Exploration Corporation’s filings with the Securities and Exchange Commission.
CONTACT:
Tombstone Exploration Corporation
Alan M. Brown, President
Phone: 480-588-8920
