Bonanza Goldfields Corp. Announces Discovery of High Grade Gold in Quartz Veins
(firmenpresse) - PHOENIX, AZ -- (Marketwired) -- 04/04/13 -- Bonanza Goldfields Corporation (PINKSHEETS: BONZ) announced today that three hand-collected samples from an 1,800 foot strike of an exposed quartz vein within the Bonanza patents were assayed at 0.08 ounce per ton (oz/ton), 0.192 oz/ton, and 0.62 oz/ton. A single sample collected from a second quartz vein on Bonanza's leased, patented property assayed at 2.73 oz/ton. A fifth sample collected from a pit on a separate leased Bonanza patented property assayed at 0.007 oz/ton. All assays were performed by Copper State Analytical Lab in Prescott, Arizona an independent registered assayer.
"The results from the five initial phase lode assay tests on the patented property are encouraging," said Mr. Stojsavljevich, President and CEO of Bonanza Goldfields Corp.
The Company's geochemist has identified an 1,800 foot exposure of the larger vein which has a similar strike, dip, and mineralization as the veins in productive mines in the region. The Company will seek to utilize current funding sources to acquire additional equipment and employees needed to recover gold from the veins. The management team also intends to take steps to complete a comprehensive geological mapping, geochemical sampling, and drilling program to evaluate the reserve base and attempt to identify additional gold anomalies on the property.
Based on this new data and a rigorous internal analysis of the relative efficiencies of continuing placer exploration and recovery compared to mining the quartz veins, the Company has temporarily suspended bulk placer exploration. The Company has engaged a third party vendor to continue to collect placer samples on the site.
Lode Assay Results:
opt = ounces per ton
Procedure: Fire assay with an ICP finish
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Michael Stojsavljevich
President and CEO
Contact:
Bonanza Goldfields Corp.
928-251-4044
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Datum: 04.04.2013 - 12:00 Uhr
Sprache: Deutsch
News-ID 245916
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contact information:
Town:
PHOENIX, AZ
Kategorie:
Mining & Metals
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