PHOENIX, AZ--(Marketwire - July 21, 2010) - Tombstone Exploration Corporation (OTCBB: TMBXF) announced today that the Company has completed the Helicopter-borne time domain electromagnetic GeoPhysical ZTEM program. ZTEM was selected for its ability to achieve unparalleled resolution and depth of investigation. The system is well suited to imaging buried porphyry deposits and is capable of gathering data over 6,000 feet (1.25 miles) below ground surface.
The airborne ZTEM survey covered over 200 line miles and most of the Tombstone Mining District. We expect receipt of the data within the next few weeks. The data will be interpreted to provide targets for a giant, high-grade porphyry copper - gold deposit that can be mined by open pit or block caving mining methods. Tombstone is situated 25 miles north of the historic Bisbee porphyry copper mine. There are numerous ongoing exploration programs in the region for porphyry copper deposits.
The project is also located 150 miles southeast of the Resolution deposit, which is currently being explored by Rio Tinto, and is reported to contain an Inferred Resource of 1.34 billion tonnes containing 1.51% copper and 0.04% molybdenum. The Tombstone project has two major intrusions (granodiorite and porphyry) underlain by sediments that could host a Resolution style deposit.
Alan Brown, CEO of Tombstone, commented, "We are pleased to have completed the GeoPhysical ZTEM program. Once the data has been completely analyzed, we will be able to set our targets for further development of our Tombstone acreage."
Tombstone Exploration Corporation (TMBXF) is focused primarily on exploration and development of mineral resources. Tombstone Exploration Corporation has the mineral rights to approximately 14,000 acres of historical mining land in the areas around Tombstone, Arizona and is the largest landholder in the Tombstone Mining District. Tombstone also has the mineral rights to 1000 acres in Mineral County Nevada known as the Eagleville property. This property is a gold rich prospect located in the prolific Walker Lane Structural belt that hosts bonanza grade mineralization such as seen at Goldfield, Round Mountain and Paradise Peak gold districts of Nevada.
For more information on Tombstone Exploration Corporation, please visit 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.