- Published: 24 May 2010
- Written by sandihop
Tombstone Exploration Corporation (OTCBB:TMBXF) Completes the First Phase of Its 2010 Drill Program
PHOENIX, AZ - May 25, 2010 (Investorideas.com Mining Stocks Newswire) - Tombstone Exploration Corp. (OTCBB:TMBXF) announced today that the Company has completed the first round of drilling at its wholly owned property at Tombstone, Arizona. To date, 4,080 feet of drilling has been completed.
Samples have been submitted to a certified laboratory for analysis. Results are expected in a few weeks and additional samples will continue to be submitted. Also during this period, additional geologist investigation has been undertaken to further assess the potential for porphyry copper exploration targets on Tombstone's property. The Company has been in contact with geophysical contractors to develop a plan, budget and timeline for this phase of the project. Planning is ongoing and work may include geochemical surveys as well.
Eurogas Inc. announced last week that it has committed $1,000,000 to Tombstone. The funds will be used for exploration and general corporate expenditures. Eurogas Inc. trades on the U.S. and Frankfurt Stock Exchanges. Eurogas has property to the south of Tombstone's holdings, and the Contention Pit in Tombstone, which is an open pit gold/silver mine operated in the 1980s. An international mining company has also acquired property on the southern border of Tombstone's land holdings.
Alan Brown, CEO of Tombstone, commented, "We are waiting on the results of our first round of drilling. In the meantime, we are planning the next phase of our exploration program, which includes the potential for porphyry copper targets on our land holdings."
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. Tombstone Exploration Corporation has the mineral rights to approximately 11,500 acres of historical mining land in the areas around Tombstone, Arizona and is the largest landholder in the Tombstone Mining District.
For more information on Tombstone Exploration Corporation, please visit 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:
Tombstone Exploration Corporation Alan M. Brown President This email address is being protected from spambots. You need JavaScript enabled to view it. 480-305-4507
Investor Relations: The Eversull Group, Inc. Jack Eversull 972-571-1624 This email address is being protected from spambots. You need JavaScript enabled to view it.
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