SOURCE: Tombstone Exploration

May 01, 2008 09:30 ET

Tombstone Exploration Corporation Receives Confirmation of High Silver, Gold and Lead Assay Values -- Releases Property Mineralization Report to Shareholders

PHOENIX, AZ--(Marketwire - May 1, 2008) - Tombstone Exploration Corporation (OTCBB: TMBXF) today announced confirmation of the high sample value of a select sample SA 35-0 that was received from ALS Chemex, a certified laboratory. Sample SA 35-0 (5 cm) was previously reported by Mountain States Research and Development International, a certified laboratory, as containing 971.40 opt silver (Ag), 0.335 opt gold (Au) and 17% lead (Pb). The pulp from the original sample was re-assayed and has been confirmed that this sample is high grade. TMBXF has contacted ALS Chemex and arranged to have this sample rerun to further confirm the Ag content. Sample SA 35-0 was collected from the Santa Ana mine. Additionally, a recently collected channel sample measuring 0.8 meters (2.6 feet) at the Merrimac mine assayed 36.75 opt Ag and 8.4% Pb. The Merrimac structure and the Santa Ana structures are on sub-parallel zones that are approximately 600 meters (2000 feet) apart. Five other samples ranged from 7.2 opt Ag to 11.1 opt Ag while another five samples assayed between 3.4 opt Ag and 4.2 opt Ag. Results from the recent sampling program are posted on the Tombstone Exploration Corporation website.

Alan Brown, CEO of Tombstone Exploration Corporation, remarked, "We are excited about the recent confirmed results and are currently reviewing bids from three highly competent and respected drilling contractors. We expect to have a drill turning on site during the later part of May 2008 to prove our mineral resource with a particular focus on the mineralization below the water table."

Report to Shareholders

Tombstone Mining District ore was extracted from silver-rich mineralized structures and from lensoid pods. The mineralized structures occur in both the Paleozoic Bisbee Group sediments/metasediments and the Cretaceous intrusive rocks of the Scheiffelen Granodiorite and Uncle Sam Porphyry at the upper sector of the system and while lensoid pod deposits occur in the lower Bisbee Group. The mineralizing events are considered Laramide in age post dating the Cretaceous intrusive events. Historical mining revealed that the ore exists to depths of greater than 300 meters (1000 feet) within the eastern Tombstone District. The principal trend of the mineralized structures in the Tombstone Silver Project area is northeasterly and dipping steeply to the northwest. These structures are complexly intersected by other mineralized structures that trend in a number of other directions. The general northeast trend of mineralized structures is known to extend a distance of about 8.5 kilometers (5.3 miles) from the Charleston Lead and Brunchow mines to the southwest to the Tombstone mines to the northeast.

Ore deposits at the property occur in two styles: fracture-fill and strata-bound pod structures that appear to be genetically associated. The fracture-fill structures are actually deep-seated fracture/fault zones trending northeast that are considered to be the feeder conduits for the pod deposits, and represent the upper sector of the mineralization system. At the property, the fracture-fill deposits are the predominant orebodies. The Solstice Mine may have been partially developed in the lensoid pod type deposit. The main host stratigraphic units in the western Tombstone district are the Bisbee Group and the Uncle Sam Porphyry.

At the structures, mineralization takes place as silver-bearing manganese oxides mix. Manganese minerals are predominantly psilomelane, pyrolusite and manganite, while the silver minerals are acanthite, proustite and pyrargyrite. Commonly, the horn silver (chlorargyrite/cerargyrite) occurs as a secondary mineral after acanthite.

The property encompasses eight structures that were significant past producers: State of Maine, Merrimac, Bonanza-Solstice, Santa Ana, Black Horse, Mamie, Randolph and Groundhog. In addition, there exist several subparallel structures of similar characteristics exhibiting lesser mining developments. Some structures have been recognized for over 1.2 km strike length, and all of them are open to both ends and down-dip, as well.

Mining operations started in the 1870s and declined dramatically, due to the underground workings reached the water table (200'). Most of the mines were abandoned during the silver demonetization in the 1890s. Over the years, there have been several attempts to reactivate the mines; the most important one took place in 1920s by the Mellgren group which worked the State of Maine structure. Total production of the western district was estimated by Sarle at US $ 6.0 Million (cit. op., 1928). Out of this figure US $ 3.5 Million were produced by the State of Maine mine.

The technical data in this news release has been reviewed and approved by Dennis Dalton, Certified Professional Geologist, Chief Geologist, who is a Qualified Person as defined by National Instrument 43-101. All samples were assayed and certified by Mountain States Research and Development International, Inc., or ALS Chemex. Blanks and reference samples are inserted into the sample stream as a quality control measure.

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 and is now the largest land holder in the Tombstone mining district, which is one of the recent largest mining property acquisitions in Arizona. Through expansion, the Company 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