SOURCE: Tombstone Exploration
PHOENIX, AZ--(Marketwired - Aug 27, 2013) - Tombstone Exploration Corporation (OTCQB: TMBXF) (BERLIN: UDNA) announced today that its current exploration will focus on the highly anticipated Zebra Property. This property has the greatest potential to most quickly generate cash flow from operations. The principle goal of this exploration is to upgrade, confirm and expand the Gold ore reserve identified by previous work conducted in the 1980s and early 1990s.
During a detailed mapping program in the 1980s, thirty-three samples were collected of jasperoid, jasperoid breccia, silica vein material, hematitically altered silty limestone, dolomite and silicified rhyolite porphyry. Seven of these samples assayed > .20 ounces per ton gold and another three assayed > .10 ounces per ton gold. The highest assay was 1.0268 ounces per ton gold collected from an outcrop of black to red jasperoid breccia. These historical assays strongly support previous assay data from the property and suggest the occurrence of a large bulk tonnage disseminated gold deposit on the property. Geophysical surveys conducted on the property in the 1980s also suggest the possibility of a gold skarn deposit at depth.
Multiple felsic intrusions are believed to be responsible for the mineralization on the property. Rhyolite porphyry outcrops in the NW 1/4 and the SW 1/4 of Section 28. Auriferous jasperoid vein swarms are associated with these outcrops. A large Basin and Range fault trends northwesterly across the southwestern edge of the property and could be the ultimate feeder structure for the gold mineralization evident in Section 34. A reverse fault trending N34W and dipping 74W cuts the rhyolite intrusive in the NW 1/4 of Section 28 and has mineralized and silicified the rhyolite at this location. Several other major auriferous fault zones, one of which is over 1.5 miles long, have been delineated on the property but none have been sufficiently drill-tested to date.
Alan Brown, President of Tombstone Exploration, said, "The focus of this exploration program is to significantly expand the footprint of the gold mineralizing system at the Zebra Property and reinforce the potential to find further near-surface gold throughout the area. To date, exploration has only been carried over a small portion of the overall Zebra Property, with many priority targets yet to be drill-tested. The initial exploration will start with a detailed mapping and sampling program to be followed by a ground based geophysical program and eventual drilling within the next few months. With the price of gold on the rise, we are ready to start exploration on one of the most prolific gold targets in the Tombstone Mining District."
The Tombstone Exploration Project is an exploration and development project within the historic Tombstone Mining District, Cochise County, southeastern Arizona. Detailed studies of the minerals of the Tombstone Mining District have shown a large number and wide assortment of mineralization including silver, gold, copper, lead, and zinc minerals, which have been described along with manganese, tellurium, molybdenum, and vanadium. Although Tombstone is famous for bonanza silver deposits and is essentially a precious-metal district, the porphyry copper model of Lowell and Guilbert (1970) suggests the presence of a buried porphyry copper deposit at depth. TMBXF has the minerals rights to 11,863 acres of historical mining land and is the largest land holder in the Tombstone Mining District.
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's most recent public filings with the U.S. Securities and Exchange Commission.