Favourable news was not to be had on Thursday; it was just one of those days on markets large- and small-cap.
Even the redoubtable materials sector was punished nearly 8% in New York.
Thus, stories of mining companies which did make headway were all the more remarkable. One involved Phoenix-based Tombstone Exploration Corporation (OTC:TMBXF), which announced Thursday that construction has begun on the leach pad at the Harquahala Mine in La Paz County, Arizona.
The Bonanza Mine property includes the Harquahala and Golden Eagle mines, located approximately eight miles (13 kms.) south of Salome, Arizona. The project totals 2,656 acres and has significant underground workings, from which some 180,000-200,000 ounces of gold were reportedly produced from high-grade ore in the late 1800's and early 1900’s. Mined rock and tailings from previous operations represent an additional potential resource.
Project Manager Todd Fayram states, “The entire site has been surveyed and stacked for location. A drone has flown the site and created a 3D model of the site to 6" contours. 5D started site mobilization on 6/8/2020 and 5D has mobilized a D7 CAT and Small Track Hoe. 5D has effectively grubbed and cleared 3/4 of the pad area.”
TBMXF shares galloped 40 cents, or 20.6%, to $2.31
Related Stories
