Tombstone Exploration Corporation Announces Leaching Has Commenced at the Bonanza Harquahala Mine

Rhea-AI Summary

Tombstone Exploration Corporation (OTCQB: TMBXF) has commenced the leach process at the Bonanza Harquahala Mine as of June 3, 2021. Approximately 35,000 tons of rock are on the leach pad, and carbon is being utilized to extract gold and silver. The company anticipates shipping its first carbon within two weeks, dependent on the leaching process. CEO Alan Brown highlighted the positive trajectory of gold prices, currently above $1900. The Bonanza Mine encompasses significant underground operations across 2,656 acres in Arizona, with plans for continuous carbon delivery to processing facilities.

Positive

• Leaching process has commenced at the Bonanza Harquahala Mine, indicating operational progress.
• 35,000 tons of rock on the leach pad with effective carbon loading to extract precious metals.
• Strong gold prices above $1900 expected to bolster revenue potential.

Negative

• None.

PHOENIX, June 08, 2021 (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 leach process has commenced.

The leaching has commenced at the Bonanza Harquahala Mine which started on June 3, 2021 when the pH levels increased to allow for safe sustained leaching. Approximately 35,000 tons of rock have been placed on the leach pad with the entire area under leach. Carbon has been placed in all four carbon columns and is collecting gold & silver from solution. Bonanza expects to ship its first carbon in approximately two weeks depending on how fast the rock leaches and how quickly the carbon loads.

Alan Brown, TMBXF President & CEO, commented, “This is a monumental day getting leaching started. We have worked through all the Covid delays and are finally able to start producing. The price of gold is looking very strong for the rest of the year as it passes $1900 today.”

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 the designated gold processing facility is expected and we have fully committed processing and gold refiners in place.

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. 

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 & CEO
Phone: 480-588-8920
abrown@tombstonemining.com www.tombstonemining.com
Twitter: @Tombstonecorp

FAQ

What recent operational update did Tombstone Exploration Corporation announce?

Tombstone Exploration Corporation announced the commencement of the leach process at the Bonanza Harquahala Mine as of June 3, 2021.

What is the significance of gold prices for TMBXF?

Gold prices are currently over $1900, which is favorable for Tombstone Exploration's revenue expectations.

When does Tombstone expect to ship its first carbon from the leach process?

Tombstone expects to ship its first carbon within approximately two weeks, depending on the leaching speed.

How much rock has been placed on the leach pad at Bonanza Mine?

Approximately 35,000 tons of rock have been placed on the leach pad at the Bonanza Mine.

What area does the Bonanza Mine cover?

The Bonanza Mine property encompasses 2,656 acres and includes significant underground workings.