Tombstone Exploration Corp. announced today after the closing bell that it has closed a leasing agreement on the Eagleville property in Mineral County, Nevada. The property is located along the northeast boundary of the Walker Lane structural zone in the Regent-Rawhide Mining District, Mineral County, Nevada. According to the company, terms of the 10 year lease include a lease to purchase provision.
Mineral County is known for its considerable and unique variety of mineral wealth which remains undeveloped. The region contains major epithermal gold and silver deposits such as Round Mountain and the historical Comstock Lode. It is possible that no comparable area on the American Continent has so many varied mineral deposits, including, but not limited to, gold, silver, copper, tungsten, iron, coal, borax, lead and gemstone rocks.
Eagleville is located eight kilometers east of Kennecott’s Rawhide gold-silver mine, where over 1.1 million ounces of gold and 9 million ounces of silver had been recovered by the end of 2000. Previous mining activities have taken place on the location with success. Tombstone Exploration believes “the extensive surface alteration and previous development provide evidence that Eagleville has the potential for both open-pit and underground gold production.”
Rock samples from the prospect have been measured as high as 1.394 opt. As the price of gold continues to escalate, the value of the Eagleville prospect is predicted to rise at a comparable rate. Rising mineral values with expenditures that remain constant will benefit the company enormously.
Alan M. Brown, CEO of Tombstone, stated, “We are excited to have the opportunity to explore the Eagleville Prospect. We believe that the site has tremendous potential with a minimum amount of expenditures, furthering the Company’s mission to produce metals and minerals at or below standard industry costs. Tombstone Exploration will continue to share news and information to our investors as developments occur with the property.”
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