Tombstone Exploration Drill Program’s First Hole at 730′
July 15th, 2008 | by mantrionline |Tombstone Exploration Corporation today provided a progress report on Drill Hole TEMC 101. TEMC 101 is designed to intercept two of the major producing structures in the mining district, the Bonanza and Santa Ana veins. The Target Zone is estimated at 800′ and the hole is planned to reach 1,100′. Around 550′, manganese oxide stringers and veins were intercepted. Manganese oxides are the silver carriers in the mining district.
Hangingwall and footwall around this zone exhibit strong silicfication in the limestone host rock unit and discreet pyrite dissemination. From 650′ down the hole, silicfication appears pervasive with patches of chlorite and epidote alteration assemblage with strong pyrite content, disseminated and in stringers, as well, in places over 3%. Discreet manganese oxide veinlets are frequently in this length. Rock unit is predominantly a massive limestone intruded by a thin feldspar porphyry dike at 700′.
In a recent Commodities Research report by Mangoba Madinane of Standard Bank, crude oil price increases and the ailing greenback are attributed to the increase in precious metal investment. Silver has been shadowing gold and closed at $18.71 in New York Friday and broke through the $19.00 resistance band Monday.
Alan Brown, President and CEO of Tombstone, stated, “Recovery has been excellent at 95% due to the use of the Triple Tube Technology. All core is being boxed and assays will be done for Ag (silver), Au (gold), Cu (copper), Pb (lead) and Zn (zinc). We will continue to provide updates to the investment community and are encouraged by the drilling program’s results thus far.”
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. The Company is the largest land holder in the Tombstone mining district. Through expansion, Tombstone Exploration 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.
