SOURCE: Tombstone Exploration

Tombstone Exploration

November 15, 2012 09:00 ET

Tombstone Exploration Has Received State Approval for Exploration Permits on Zebra Property

PHOENIX, AZ--(Marketwire - Nov 15, 2012) - Tombstone Exploration Corporation (OTCQB: TMBXF) announced today that the Company has received approval for all the State Permits totaling 2,000 acres applied for in September located in the eastern edge of the Tombstone Mining District. These applications have been executed and finalized by the Arizona State Land Department and all fees have been paid.

The Zebra Prospect is an epithermal disseminated gold property located in Cochise County, Arizona, approximately three miles southeast of the town of Tombstone, in T20S, R23E, Sections 20, 21, 27, 28, 29, 32, 33 and 34. The property totals 4,163 acres and consists entirely of State land for which Arizona State Prospecting Permits have been secured. It is believed that the prospect lies within the metallogenic zonation halo of the Tombstone District. The shallow ores of the central district were known to be high in silver and lower in gold. Conversely, and in accordance with zonational patterns, the Zebra Property has high gold, and relatively moderate silver values.

During a detailed mapping program during 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.

Alan Brown, President of Tombstone, stated, "We are ready to start an active exploration and drill program for the Zebra Property based on recommendations in our recent 43-101 completed by SRK. We are in the process of finalizing a finance for the Company and expect to announce the news to the shareholders as soon as complete."

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. Tombstone has the minerals rights to 11,863 acres of historical mining land and is the largest land holder in the Tombstone Mining District.

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's most recent public filings with the U.S. Securities and Exchange Commission.

Contact Information

  • CONTACT:

    Tombstone Exploration Corporation
    Alan M. Brown
    President
    480-305-4507
    480-452-0286 (fax)
    Email Contact
    www.tombstonemining.com

    Investor Relations:
    The Eversull Group, Inc.
    Jack Eversull
    President
    972-571-1624
    214-469-2361 (fax)
    Email Contact