Tombstone, AZ, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Mansfield-Martin Exploration Mining, Inc. (OTC PINK: MCPI) announced today its joint venture agreement with Westgrove Partners, LLC to fund the Tombstone Mine Run Program. The Agreement provides for up to $3 million in funding to construct processing facilities on Company-owned property, including crushers, wash plants and power delivery, to harvest precious metals from previously mined, unprocessed materials. The Program covers approximately 165,000 tons of unprocessed materials from four historically productive mine sites, including the Solstice and Ace in the Hole. Separate agreements provide refusal rights for mine run deposits on other Company property. Mansfield-Martin will manage site development and operations, and Westgrove and its partners will share in profits from processing activities. Preliminary testing shows silver and gold concentrations in the JV materials estimated at $55 million.
Vic Martin, Development Director for Westgrove, stated, “We’re looking forward to working with Mansfield-Martin on these properties. These materials are already above ground – this is less about mining for precious metals and more about harvesting -- so we’ve minimized significant risks. We should be in production within 120 days after funding, and if this works as expected we expect to exercise our rights on other deposits soon thereafter.”
About Mansfield-Martin Exploration Mining, Inc.
Mansfield-Martin Exploration Mining, Inc. is principally engaged in a variety of mining activities on owned and claimed property in Arizona’s Tombstone Mining District and in Idaho, both in historically prolific silver and gold production areas. Mansfield-Martin is an SEC-Reporting company, and has approximately 359 million shares issued and outstanding and over 2000 shareholders. Additional information can be found at www.mansfieldmartin.com or in its SEC filings at https://www.sec.gov/cgi-bin/browse-edgar?company=Mansfield-martin&owner=exclude&action=getcompany.
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