Tombstone Exploration to Begin Aggressive Drill Program Beginning May 2008
April 01, 2008
PHOENIX, AZ -- (MARKET WIRE) -- 04/01/08 -- Tombstone Exploration Corporation (OTCBB: TMBXF) announced today it has conducted geological mapping and sampling that combined with historical data provided the basis for developing a new core drilling program. A budget of $1.2 Million has been approved for the 5,200 m core drilling program. Drilling will test an area that is approximately 900 m by 2,000 m. The program is scheduled to begin in May 2008. Permitting work for the program is currently in progress.
Alan M. Brown, President of Tombstone Exploration, said, "We have approved the drill program due to the encouraging assay results and the success of the previous drilling done. The $1.2 million we plan on investing into this drill program will represent the first ever evaluation below the water level. I along with our entire management team have the highest expectations for the results from this drill program."
The drill program will consist of twenty-three core holes drilled from 15 distinct drill sites that are designed to intercept extensions of the State Maine Mine, Merrimac zone, Bonanza-Solstice mines, and the Ace-in-the-Hole-Black Horse mine sub-parallel trends. These zones are northeasterly trending. Core holes will be HQ size and will be drilled using triple tube core technology to assure that the most complete core recovery is achieved. Drill hole spacing will be about 100 m between drill hole sites. The four mineralized zones will be tested over strike lengths ranging from 200 m to 500 m.
Eight drill hole sites are planned to have two holes drilled at different angles along the same direction to intercept their targets at different depths. Seven sites will have one hole each. The length of the holes range from 125 m to 320 m and vary in inclination from -45? to -90?. The holes are designed to penetrate the target zones below the water level. All available historical data indicates that no mining in the program area was conducted below the water level.
SRK of Tucson, Arizona is expected to complete the NI 43-101 technical report for review and filing by management during the next few days. SRK is an independent, international consulting group, employing leading specialists in environmental science and mineral engineering. Its seamless integration of services, and global base, has made the company a significant international practice in due diligence, feasibility studies and confidential internal reviews. SRK's global experience and reputation for excellence is widely recognized among the major financial institutions and are repeatedly called upon to advise on and evaluate projects for all types of market transactions. Formed in 1974, SRK employs more than 600 professionals internationally in 31 permanent offices on 6 continents.
National Instrument 43-101 (NI 43-101) is a rule developed by the Canadian Securities Administrators (CSA) and administered by the provincial securities commissions that govern how issuers disclose scientific and technical information about their mineral projects to the public. It covers oral statements as well as written documents and websites. It requires that all disclosure be based on advice by a "qualified person" and in some circumstances that the person be independent of the issuer and the property.
The sample data and assay results have been reviewed and approved for dissemination by Dennis Dalton, CPG who is a QP as defined by NI 43-101.
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.
