Business
Bonanza Goldfields Corp. Acquires Thunder Mountain Gold Project
Bonanza Goldfields Corp. Acquires Thunder Mountain Gold Project.
About this update from Marvion Inc.
[{"type":"text","content":"\n\n\n\nBonanza Goldfields Corp. Acquires Thunder Mountain Gold Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBonanza Goldfields Corp. Acquires Thunder Mountain Gold Project\nPR Newswire\nLAS VEGAS, March 19, 2018\n\n\n\nLAS VEGAS, March 19, 2018 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) is pleased to announce that it has acquired the Thunder Mountain Gold Project, located in Nye County, Nevada between Tonopah and Round Mountain, Nevada.\n\nThe Thunder Mountain project is presently comprised of 17 unpatented lode mining claims on BLM ground, which are centered on the areas previously drilled by Newmont, Midway Gold and Kinross.   \n\nPast Drill ResultsMidway Gold reported drill results in 2007 and 2008 as follows:\n\n\n10 feet of 0.389 ounces per ton (OPT) gold within 40 feet of 0.135 opt gold (drill hole TM08-09)\n5 feet of 1.187 OPT gold within 30 feet of 0.705 OPT gold (drill hole TM07-04)\n10 feet 1.93 OPT gold within 30 feet of 0.705 OPT gold (drill hole TH-27)\n15 feet of 0.036 OPT gold with 5 feet of 7.4 OPT silver (drill hole TM08-10)\nGeology.  Thunder Mountain is an emerging epithermal gold district, which hosts a series of high grade epithermal quartz-adularia-gold veins.\n\nBonanza Goldfields acquired Thunder Mountain as part of an amendment to its Omnibus Exchange Agreement with Hondo Minerals Corporation and related parties.  Hondo received one share of Bonanza Goldfield's newly designated Series C Preferred Stock, which is convertible into 9.99% of the Bonanza Goldfields common shares.  Bonanza Goldfields intends to register these common shares with the SEC for distribution to Hondo's stockholders in a special liquidating distribution once Bonanza Goldfields resumes its status as a fully reporting company to the SEC.  This is targeted for 2019.\n\nBecause of its acquisition of Thunder Mountain, Bonanza Goldfields has elected not to proceed with acquisition of the mining properties at Chloride, Arizona or Goldfield, Nevada.  The Company now has four active mining projects:\n\n\nThunder Mounta...