PHOENIX, April 21, 2020 (GLOBE NEWSWIRE) -- Tombstone Exploration Corporation (OTCQB:TMBXF) (“Tombstone”, “Tombstone Exploration”, or the “Company”), a fully reporting U.S. based mining company, in partnership with Goldrock Resources Inc. (together, the “Bonanza Mining Company” or the “Partners”), is pleased to update current and prospective shareholders as the Partners gear up for construction and production activities at the Harquahala Mine.
Location of On-site Water Well. The Company is excited to report that the Partners have discovered an on-site water well capable of fully supplying the construction and production process at Harquahala, including the leaching extraction process following the construction of the heap leach pad. Management notes that this discovery will significantly reduce the cost of production on a per-unit basis and shorten total time to market extracted gold.
Full Permissions in Place. Further to the Company’s release dated April 15, the Arizona Department of Environmental Quality (“ADEQ”) has now confirmed that all permissions are in place to allow for full development and Construction at the Harquahala Mine site.
Construction Timeline. Construction of the 242,000 cubic yard heap leach pad and 4,126,239-gallon double-lined pregnant solution pond are slated to begin in May. Management now expects the construction phase to last 60-90 days, after which time the Company will begin to extract tangible gold from the site and bring it to market.
“The big news is that we have located an on-site water well source that is expected to completely supply all necessary water for the extraction process,” commented Alan Brown, Tombstone CEO and President. “That will save us a lot of money and expedite the process to launching production and bringing tangible gold to market. Construction of the leach pad will commence in May, and we look forward to providing further updates as this process unfolds.”
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
Phone: 480-588-8920
abrown@tombstonemining.com
www.tombstonemining.com