Investors are bidding up shares of Bonanza Goldfields Corp. (OTCPK:BONZ) as the company enters into an agreement with Middle Verde Development Co., LLC to add the Idaho and Broken Hills patented mining claims to its Golden Gem Project. The Golden Gem Mine, located 10 miles north of Kingman, Arizona, adjoins the Idaho and Broken Hills Mines.
An early BONZ exploration objective at Golden Gem is the 11 reported veins distributed over a 500-foot distance southwest of the main Golden Gem mine shaft. This area of interest continues onto the Idaho and Broken Hills claims, which BONZ intends to evaluate for bulk gold and silver potential as a possible future open pit mine.
BONZ expects that the addition of Idaho and Broken Hills, together with other pending corporate transactions with Hondo Minerals and Middle Verde, will add critical mass to the Golden Gem Project.
Investors seem to agree with the company’s vision with shares of BONZ rallying a very impressive 56.25% in mid-afternoon trading. Even with the impressive move today, shares are still roughly at their 52-week midway point.
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