SOURCE: Tombstone Exploration

Tombstone Exploration

June 16, 2016 09:00 ET

Tombstone Exploration Corporation Identifies Significant Gold Mineralization on the Stardust BLM Mining Claims in Yuma County, Arizona

PHOENIX, AZ--(Marketwired - Jun 16, 2016) - Tombstone Exploration Corporation (OTC PINK: TMBXF), a fully reporting company, (BERLIN: UDNA) announced today that its geological crew has identified surface high grade gold results during detailed mapping and sampling of a mineralized trend in the 100% owned claim block in Yuma County, AZ in the Eagletail Mining District. Highlights include a sample returning 7.04 g/t gold with multiple other samples above 1 g/t gold of the 70 samples sent for assay.

The encouraging results from the rock sampling program over the Stardust project indicate the presence of a high angle detachment related precious metals vein system. The mineralization present at the Stardust project appears to be located within detachment related veins & locally intensively chloritic and hematitic host rocks. The vein system has been sampled over a strike of approximately 3200 feet (975 meters). These veins appear to be a feeder system of an extensive partially eroded low angle fault system over the Stardust.

The results of the latest tranche of rock samples combined with field observations, and existing data, appear to fit the USGS detachment fault model of USGS Bulletin 2004 by Long, K.R.: Preliminary Descriptive Deposit Model for Detachment-Fault-Related Mineralization. Other productive detachment fault related precious and base metal systems occur through the Basin and Range areas of Southern California, Western Arizona, and Southern Nevada. An example in Arizona includes the Copperstone Mine, previously mined by Cypress which produced one half million ounces of gold by open pit methods from 1987-1993. Copperstone is currently being evaluated for additional resources.

Quartz veins present in outcrop, subcrop, float, & in historical mining dumps showcase multi ppm gold values up to 7.04 ppm (sample SDR0048 -- 50gram Fire Assay) and silver values up to 22.6 ppm (sample SDR0052). Eight out of 70 rock samples returned assays above 1ppm. In addition to these strong precious metal values found in samples, additional observations at Stardust include:

  • The presence of chalcedonic quartz veins. 
  • Crushed veins & and multi-phase cemented -- banded silica veins, & silicification.
  • Abundant drusy textures (boiling level and vapor phase)
  • Footwall host rocks are a metasediment matrix with strong hematite & intensive chloritic alteration + copper oxides. 

Alan Brown, President and CEO of Tombstone Exploration Corporation, said, "We are excited with these encouraging sample results where we are just scratching the surface of the multiple precious metal veins identified by the ground based Geophysical program completed in the last quarter of 2015. With these sample results from the exploration work, we expect to exceed a suggested resource in the amount of 2 to 3 million tons of .2 ounces per ton gold equivalent suggested in historical reports over the years."

TMBXF has recently received a notice level permit from the Yuma County BLM office to conduct trenching and drilling activities. Ongoing exploration activities at Stardust will attempt further definition of the character, size and potential of the Stardust site. TMBXF has recently received a diamond core drilling contract from a highly recommended professional drilling company to complete 6000 ft. of drilling. The principal of the drill company has recently visited the Stardust property and the Company will be executing the contract upon finalization and confirmation of a start date.

TMBXF 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 the Company's 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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