SOURCE: Tombstone Exploration

October 09, 2008 09:30 ET

Tombstone Exploration Corporation Provides Update on Summer Drill Program - Assay Results Pending

PHOENIX, AZ--(Marketwire - October 9, 2008) - Tombstone Exploration Corporation (OTCBB: TMBXF) announced today it has successfully completed 2,593 feet of core drilling at its silver project in Tombstone. AZ. Six diamond drill holes (DDH) have been drilled, TEMC 101,102,103,104,105 and 106, to test the extension of the mineralization zones of the Bonanza and Santa Ana structures, both of which possess historical data from within the mining district. Both structures exhibit open ends at the south and north, as well down dip.

Drilling was performed by Layne Christensen Drilling Company during June through September, 2008. Holes were drilled as HQ diameter and using triple-tube technology, yielding a recovery over 90% in most instances. RQD is estimated at 45%, average.

Five out of the six DD holes intersected the projected targets at different levels at the south, central and north of the structures, while DDH TEMC 101 provided a great deal of information regarding the Bonanza structure which seems to be bent in an opposite direction in depth. This particular piece of information has been physically confirmed in the Bonanza mine workings where the structure becoming subvertical at 200 feet approximately, and then switches the dip to east, rather than dipping west as observed at the upper sectors of the shafts.

The following is a highlight summary of the geological logging of the drill holes.

        TEMC 101          0-135'      Ignimbrite
                        135-547'      Sedimentary rock unit made up of
                                      quartzite and limestone,
                                      predominantly
                        547-552'      Mn-oxides structure with additional
                                      Mnox stringers at hanging and foot
                                      walls
                        552-650'      Predominantly, limestone, locally
                                      silicified
                        650-980'      Predominantly, limestone, locally
                                      silicified, with patches of epidote
                                      and chlorite, containing strong
                                      pyrite content up to 10% in places

        TEMC 102           0-60'      Overburden and feldspar porphyry
                                      dikes sedimentary rock units
                         60-145       Ore zone, mostly Mnox containing
                                      locally some secondary Ag minerals,
                                      as horn silver
                        145-225'      Predominantly feldspar porphyry dikes
                        225-395'      Limestone with minor ore stringers
                                      and veins
                                      Potential Santa Ana structure at
                                      345-370'
                        395-408       Siltstone and limestone rock units
                                      interfingering
                                      Minor Mnox stringers at different
                                      levels
        TEMC 103           0-65'      Quartzite unit, locally cut by quartz
                                      veinlets, exhibiting comb crystals
                                      and open spaces and symmetry
                         65-185'      Various ore zones, associated with
                                      the Santa Ana Structure, hanging and
                                      foot walls. Minor ignimbrite bed
                                      intercalated
                        185-212'      Limestone, trace Mnox stringers

        TEMC 104          0-180'      Predominantly quartzite and limestone
                                      rock units locally intersected by
                                      feldspar porphyry dikes
                        180-240'      Potential Bonanza structure with
                                      minor ores stringers associated at
                                      hanging and foot walls
                        240-290'      Sedimentary series with minor
                                      feldspar porphyry dikes
                        290-311'      Potential Santa Ana structure and
                                      associated hanging and foot walls a
                                      ore stringers

        TEMC-105          0-195'      Overburden at upper sector and
                                      sedimentary series, with minor
                                      feldspar porphyry dikes
                        195-225'      Minor ore intercepts
                        225-250'      Siltstone
                        250-393'      Predominantly, intraformational
                                      breccia and/or conglomerate,
                                      limey-rich
                        393-420'      Minor ore zone associated with Santa
                                      Ana Structure
                        420-460'      Mostly, limestone, Trace Mnox in
                                      places

        TEMC 106          0-107'      Predominantly, intraformational
                                      breccia and/or Conglomerate,
                                      limey-rich
                        107-115'      Minor ore intercept, mostly Mnox
                                      stringers
                        115-124'      Quartzite
                        124-128'      Minor ore intercept, mostly Mnox
                                      stringers
                        128-140'      Quartzite

At the Tombstone silver district, manganese oxides are the ore carrier hosts. TEMC 101 and 102 (upper sector, 20-140') have assays for 50 elements, and TEMC 102 was re-ran by four acid near digestion for silver. All the rest of core sample results are pending from ALS Chemex, where they were sent for assay.

A new mineralized structural corridor has been discovered between the State of Maine and Merrimac veins at the southern portion of the property. Such a structural corridor is currently undergoing detailed mapping and sampling. The corridor extends for over one mile, and locally exhibits 80-100' width with some feldspar porphyry dikes in between.

Claudia Stone, Geologist of SRK Engineering is scheduled to do a site inspection of the project on October 13.

Alan Brown, President and CEO of Tombstone Exploration remarked, "The assay results have been slow to receive but we are encouraged by the results so far and will report additional results as they become available."

Tombstone Exploration Corporation (TMBXF) is structured and positioned to capitalize on today's increasing demand and prices for precious metals and base metals such as copper, lead and zinc. Tombstone Exploration Corporation has the mineral rights to approximately 13,500 acres of historical mining land in the areas around Tombstone, Arizona. The Company is the largest landholder in the Tombstone mining district. Through expansion, Tombstone Exploration will acquire new properties, as well as integrate the extraction of precious and base metals. The goal is to produce metals and minerals below standard industry costs.

For more information on Tombstone Exploration Corporation, please visit our web site at www.tombstonemining.com.

FORWARD-LOOKING STATEMENTS

Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only, as the Company has not completed the preparation of its financial statements for those periods, nor has its auditor completed the audit of those results. Actual revenue may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Tombstone Exploration Corporation's ability to obtain additional financing. Tombstone Exploration Corporation undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Tombstone Exploration Corporation's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Tombstone Exploration Corporation's success are more fully disclosed in Tombstone Exploration Corporation most recent public filings with the U.S. Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Tombstone Exploration Corporation
    Alan M. Brown, President
    Email Contact
    480-305-4507

    Investor Relations:
    The Eversull Group, Inc.
    Jack Eversull
    972-378-7917
    972-378-7981 (fax)
    Email Contact