Phoenix, Arizona--(Newsfile Corp. - September 22, 2017) - Tombstone Exploration Corporation (OTC Pink: TMBXF), a fully reporting company, announced today receipt of results from the phase one drill program conducted on the Company's 100% owned Stardust Gold Project in Yuma County, Arizona.
The initial drill plan for this project was to be completed in two phases, with each phase to be approximately 3000 feet. TMBXF completed phase one drilling, which consisted of 4 holes of the planned 20 hole drill program. These initial holes were completed within a 1 acre area of the Stardust 400 acre land position. TMBXF drill results met management's expectations and confirmed its intent to proceed with phase two. Phase one only touched the surface of the structures identified. Weather and terrain hindered the process and we are scheduling to proceed with phase two of the program starting in November. Phase two will be conducted under optimal weather conditions, enhanced roadway logistics, and a drill plan that will integrate an altered drilling technique that will maximize efficiency and speed for the final 16 holes.
The first phase drill program was designed to establish strike length and test grades over a large enough width within the defined chlorite hematite hosted vein system. The drilling was to define structural continuity (vein continuity along strike), grade of veins and hosting chl-hem zone, and find the width of structures. The program, as designed, has demonstrated grade at reasonably shallow depths. Phase two is designed to confirm the extension of these mineralized structures at a deeper depth and consume more extensive acreage.
Alan Brown, President of TMBXF, stated "We are most pleased with our initial results on the first phase of our drill program. The majority of the assays received for each interval over this initial drilled area present gold and silver and multiple other industrial minerals. All assays will be discussed in a detailed research report to be prepared."
TMBXF is currently in discussions and anticipates to complete a detailed Investment Grade Research Report by the middle of the 4th quarter. This Report will provide an indepth overview of all of TMBXF's properties, an updated status of the Stardust drill campaign, and future discovery initiatives to enhance shareholder value. The Report will be completed by an extremely well respected group of mining analysts that are followed by investors, mineral exploration investors and institutions throughout the world.
Tombstone Exploration Corporation is a gold silver copper exploration 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 S.W. USA. This goal will be achieved in part through the application of the best mineral exploration practices and techniques available to our experienced exploration and management team, including 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.
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