PHOENIX (GLOBE NEWSWIRE) — Tombstone Exploration Corporation (OTCQB: TMBXF), a fully reporting U.S. based mining company, announced today in combination with Goldrock Resources Inc. and the Bonanza Mining Company that the construction phase is almost completed. The project is on track for the complete build-out of the heap leach pad and pond and install of liner and production equipment at the Bonanza Harquahala Gold Mine in La Paz County, Arizona, and processing the gold will begin.
A well was drilled out in the alluvial basin approximately 2.5 miles south of the project site during the last few days and Tombstone has found the water source for the project. The well was drilled to a depth of 700 feet and will produce the required 250 gallons per minute needed for several phases of the project. It is currently being completed and a pipeline is being constructed and placed, which are both permitted under the BLM, La Paz County, and ADWR. The well will become active in approximately one week.
The project construction is well advanced with liner being finished in early January. The liner placement was slowed due to COVID-19 issues among the liner placement crew. The crew has been replaced and are now working towards completion. The crusher mobilization has started with the crusher being in place and operational in early January. All other items including the carbon columns, cyanide storage tank, and pumps are on-site and ready for final placement once the liner is done.
Todd Fayram, Bonanza Mining Project Manager, stated, “We are very happy to find sufficient water to run the project both now and in the future. This will allow us to complete construction in early January and start placing material on the pad thereafter. This is an exciting time as leach and gold recovery will occur towards the end of January.”
Alan Brown, Tombstone Exploration CEO and President, commented, “The new year brings TMBXF’s Harquahala Gold Mine into production. It has been a challenging year with factors occurring beyond our control, but we are ready to start production.”
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. Once leaching has started, periodic delivery of the carbon to a designated gold processing facility is expected.
TMBXF also announced the Company has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.
“We are pleased given the status of our Bonanza project to have selected Renmark to reinforce Tombstone Exploration Corporation’s profile in the financial community and enhance the visibility of our company. We selected Renmark because its standards and methodologies fit best with the message we want to communicate to the investing public,” noted Alan Brown.
In consideration of the services to be provided, the monthly fees incurred by Tombstone Exploration Corporation will be a cash consideration of up to $8,000 USD, starting January 1, 2021 for a period of six months ending on June 30, 2021 and monthly thereafter.
Renmark Financial Communications does not have any interest, directly or indirectly, in Tombstone Exploration Corporation or its securities, or any right or intent to acquire such an interest.
About Tombstone Exploration Corporation
Tombstone Exploration Corporation 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.
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.