Today before the opening bell, Tombstone Exploration Corp. announced that it has made noteworthy progress with the current drilling program at its property at Tombstone, Arizona. As of last report, 2,375 feet of drilling has been completed, with the drilling on the State of Maine still to be completed.
Follow-up work on other targets at the company’s property has indicated that porphyry copper deposits could be found. Previous drilling in the area indicates that porphyry systems exist and that there could be multiple targets in the district. Because Tombstone holds extensive land in the area, totaling about 11,500 acres, there is potential for one or more of these systems on its property.
In today’s press release, Tombstone also reported on activity surrounding its land holdings. One of the largest mining companies in the world has been acquiring property on the southern border of the company’s land and there are a number of companies doing extensive exploration in the area for porphyry copper deposits. Tombstone has developed an exploration strategy for these deposits that includes airborne geophysical analysis and geochemical surveys to define potential targets.
Steven J. Radvak, P.E., Vice President of Exploration of Tombstone, stated, “The drilling program has progressed nicely and we are waiting for laboratory results for the initial drilling. Additional drilling may be warranted after these results have been received and analyzed. We have also started planning a major geophysical and geochemical survey to help delineate porphyry targets on our property.”
Alan Brown, CEO of Tombstone, added, “The Company is expanding its exploration program to include a search for large open pit style copper gold deposits.”