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Tombstone Exploration Corporation Announces Phase Two of Fast Leach Production and Positive Cash Flow from Recent Leach Test
Tombstone Exploration Corporation Announces Phase Two of Fast Leach Production and Positive Cash Flow from Recent Leach Test.
About this update from Tombstone Exploration Corp.
[{"type":"text","content":"\n PHOENIX, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Tombstone Exploration Corporation (OTCQB: TMBXF), a fully reporting U.S. based mining company, announced today estimated forecast cash flow from Phase Two Production based on current test results for the Bonanza Harquahala Mine. Plan Moving ForwardThe next phase will process the tailing and the remaining waste rock, as agglomerated product. The lab tests have shown that agglomerated tailing/waste rock gave very “fast” leaching. Lab results show average recovery of 50% of Au within two weeks.For a “fast” leach: 50,000 tons per monthAt grade of 0.035 opt AuWith recovery of 50%The recovered gold would be 875 oz Au per month for twelve months suggesting 10,500 oz of Au. There are total of 500,000 tons available for processing. In this scenario, within a year all 500,000 tons will be crushed/agglomerated, and the process will recover 10,500 oz Au. With the updated information from KCA lab results, we can see the following scenario unfolding as we move forward with fast leaching and the head grade of 0.035 opt: As we crush/agglomerate/stack, at a rate of 50,000 tons per month (or 12,500 tons per week).If we continue this for ten months…And put fresh material on sprinkler every week…The operation will ramp up on recovery of gold at 433 oz for the first month followed up by 693 oz on the second month and peak at production of up to 875 oz for ten months and then taper off for last two months, as the heap becomes depleted.This would also mean moving of loaded carbon every week, which would contain over 200 oz, which would be sent to Metals Research for refining.This would give a steady inflow of revenue on a weekly basis of about $370,000 per week for eight to twelve months. Richard Moores, President of the Bonanza Mining Company, stated in discussions with TMBXF, “Based on average grade, used in the estimated model in the Technical Report, but without high-grade stacked first due to movement of material during previous ops, and assuming 50k tons crushed and stacked per month, pretax cashflow after a month's delay for startup and initial heap less monthly stacking and op costs should be about $1.2-1.4 million per month at $1700/oz Au; to this should be added contributions from post-flush recovery. This assumes ~60% flush of gold stacked in first two ...