PHOENIX, AZ—February 6, 2012
Tombstone Exploration Corporation (OTCBB: TMBXF) (OTCQB:TMBXF) announced today the receipt of a 2012 National Instrument 43-101 Technical Report from SRK Consulting.
The report is endorsed by SRK’s QP, Allan V. Moran, R.G., C.P.G. and Claudia Stone, R.G., C.P.G. commissioned by Tombstone Exploration Corporation covering its Tombstone Porphyry- Precious Metals Project. It includes geological, geophysical and drill data that has been completed over the last four years, as well as numerous published and unpublished reports going back to the discovery of the district in 1877.
The geology of the Tombstone Mining District has been published in early technical journals, State publications (Arizona Bureau of Mines), U.S. Geological Survey publications, Transactions of the American Institute of Mining Engineers (AIME), and early issues of U.S. Mineral Resources. The early reports focused on the district geology and bonanza silver deposits in the central mining district where the more productive mines were located. More recently, masters’ theses, doctoral dissertations, and company reports available from the 1960s through present day demonstrate that exploration programs have been or presently are being conducted for buried porphyry copper targets, as well as for gold and silver mineralization. All have contributed information to the geology and mineralization of the Tombstone Mining District.
Other Adjacent Properties and Land Owners in the Tombstone Mining District
Two international exploration companies are known to have recently located active mining claims and prospecting permits adjacent to the south of the Company’s land holdings. As well, two other exploration companies have recently purchased parcels of historic patented mining claims and located properties, and have also been very active in current exploration and plan for future work and drilling in the district.
Alan Brown, President of Tombstone, stated, “With prices for metals at historic high levels, the time to move aggressively forward is now. The SRK independent geologists have worked throughout the last six months to prepare this comprehensive report about Tombstone and the Company’s exploration targets. The report covers every aspect of the district known from its discovery in 1877 up to the present time. The report comprises over 119 pages and includes 70 references of published and private reports covering or related to the Tombstone Mining District. This data has been thoroughly distilled into pertinent exploration recommendations. We now have a clear plan on where and how to progress in a systematic, efficient exploration program that will effectively test this very large but under-explored district. We are starting immediately to follow through on their exploration recommendations. We will undertake and report exploration activities as soon as possible.”
Steven Radvak, PE, VP Exploration, from Tombstone, stated, “With the completion of the 43-101, we can now concentrate on the exploration program to include data interpretation and mapping on a regional scale and follow up geophysical work prior to initiating our aggressive drilling program. Our previous drilling results outlined areas that warrant follow up drilling, as well as the Zebra Property with its historical gold resource.”
SRK Consulting is an independent, international consulting practice that offers services from exploration through feasibility, mine planning, and production to mine closure. The company was formed in 1974 and now employs more than 1,000 professionals internationally in over forty offices on six continents.
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. Silver, gold, copper, lead, and zinc minerals 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 9,700 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.