PHOENIX, May 20, 2020 (GLOBE NEWSWIRE) -- Tombstone Exploration Corporation (OTCQB: TMBXF), a fully reporting U.S.-based mining company, is pleased to announce in partnership with Goldrock Resources Inc. and the Bonanza Mining Company the execution of a significant contract with 5D Mining & Construction, Inc. (“5D”) for the building of the heap leach pad for the Bonanza Harquahala Mine.
Phase One construction of the Bonanza Heap Leach Project is anticipated to start on or about May 25, 2020, with full project completion expected by mid-September. Per the contract, 5D will supply labor, equipment and materials to perform all of the civil work and liner installation for phase one.
“We are now moving into the construction phase of the leach pad with an estimated completion of the construction within 12 to 16 weeks,” stated Tombstone CEO and President Alan Brown. “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.
Phase Two, currently under consideration, includes a much bigger package where we have potentially identified 150,000 – 300,000 oz of Au in defined underground targets in and around the old Harquahala mine with significant upside potential.
The 5D contract for construction for this first phase of the Bonanza Heap Leach Project includes all survey work required for layout and grading, debrushing the work area, demolishing obstructing concrete structures, relocating and stockpiling the existing tailings, mass grading for the PLS pond and leach pad, all trenching and backfill for the liner anchor trench, fine grading for the liner, installation of the liner and perforated drain pipe, including required support work.
Over the course of its 20-year history, 5D has become a major construction company in and out the mining industry and is one of the most respected contractors in the Copper Corridor area of Arizona. Located in Globe, Arizona, 5D has provided work for some of the largest companies in the world, including BHP Billiton, Capstone Pinto Valley Mine (Capstone Mining Corp.), Freeport-McMoRan Miami, Grupo Mexico ASARCO Hayden, and many others.
“This construction agreement is another significant milestone for Tombstone,” stated Brown. “After careful deliberation, we are pleased to name 5D - a highly recognized construction company – as our partner to execute the first phase of the Bonanza Heap Leach Project.”
About Tombstone Exploration Corporation
Tombstone Exploration Corporation (OTCQB: TMBXF) 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. For more information, visit www.TombstoneMining.com.
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
abrown@tombstonemining.com
www.tombstonemining.com