Tombstone Exploration Corporation Announces Construction Has Commenced
PHOENIX, June 11, 2020 - Tombstone Exploration Corp. (OTCQB: TMBXF), a fully reporting U.S. based mining company, is pleased to announce in combination with Goldrock Resources Inc. and the Bonanza Mining Company that construction has begun on the leach pad at the Harquahala Mine in La Paz County, Arizona.
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 180,000-200,000 ounces of gold were reportedly produced from high-grade ore in the late 1800's and early 1900’s. Mined rock and tailings from previous operations represent an additional potential resource.
Alan Brown states, “Once the construction is complete, we will start moving an estimated 500,000 tons onto the leach pad and begin an estimated six to eight month processing period for all of the mined material in Phase One. Once leaching has started, bi-weekly delivery of the carbon to our designated gold processing facility is expected. Based on past metallurgical testing, production is budgeted at 23,000 ounces of gold with potential for more. "We are highly confident in our test results and expect our first gold pour in mid to late September," stated Bonanza Manager, Todd Fayram.
Todd Fayram, Bonanza Project Manager, is a Metallurgical Engineer with 26 years of experience with global assignments and extensive experience in mining, crushing, mineral processing and mineral economics. Mr. Fayram states, “The entire site has been surveyed and stacked for location. A drone has flown the site and created a 3D model of the site to 6" contours. 5D started site mobilization on 6/8/2020 and 5D has mobilized a D7 CAT and Small Track Hoe. 5D has effectively grubbed and cleared 3/4 of the pad area.”
About Tombstone Exploration Corporation
Tombstone Exploration Corp. is a gold, silver and copper exploration & mining 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 Corp., 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 not Tombstone Exploration Corp.’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 Corp.’s filings with the Securities and Exchange Commission.
CONTACT:
Tombstone Exploration Corp.
Alan M. Brown, President
Phone: 480-588-8920
abrown@tombstonemining.com
www.tombstonemining.com
INVESTOR RELATIONS:
Emerging Markets Consulting, LLC
Florida Office
15701 State Road 50, Suite #205
Clermont, FL 34711
E-mail: jamespainter@emergingmarketsllc.com
Web: www.emergingmarketsllc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c7fc4be-6bae-4671-b532-1989f08fc4c2