Bonanza Goldfields Corp. Acquires Columbus Mine; Releases Geological Report on Payroll Mine

LAS VEGAS, Nov. 1, 2017 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has acquired the Columbus Mine.  Located north of the Company's Golden Gem Mine, the Columbus Mine is 10 miles north of Kingman, Arizona.

The Columbus Mining Claim was included in the same transaction under which the Company obtained its option on the Idaho and Broken Hills Mines.  However, the Columbus acquisition took longer to complete as the deed had to be recorded with the Arizona State Office of the United States Bureau of Land Management (BLM) in addition to the Mohave County Recorder.

The Columbus Mine is located on the Idaho – Columbus Vein and was historically worked together with the Idaho Mine.  There are two mine shafts reported to be 175 to 200 feet deep as well as an adit (mine tunnel) and at least two inclined winzes. (A winze is an underground mine shaft.)  Past sampling by the US Bureau of Mines of one of the Columbus Mine winzes encountered gold, silver, zinc, lead and copper. Reported grades for five samples were: gold - .065 ounces per ton (OPT) to 0.445 OPT; silver – 0.9 OPT to 4.7 OPT; zinc – 0.5% to 14.9%, lead – 0.1% to 0.2% and copper - 0.08% to 0.38%.

Report on Payroll Mine, Chloride, Arizona

BONZ has posted an historical geological report for the Payroll Mine on the OTCMarkets website as a Supplemental Information Filing for the purpose of providing background information.  This report was prepared prior to adoption of NI 43101 and also does not meet current SEC standards.  Any resource estimates in the report should not be relied upon for any purpose. 

The Columbus, Idaho, Broken Hills, Golden Gem and Payroll Mines are among a total of 14 mines in the BONZ Chloride portfolio.  Located on over 500 acres, the other mines are (from north to south) the Badger, Hercules, Rambler, Molly Gibson, Arizona & Montana (A&M), Towne, Summit, O'Brien and Daisy Twins Mines.  There is also land to build two mineral processing facilities on (1) the Terminal Millsite, located on Tennessee Avenue in the Town of Chloride and (2) the recently acquired Golden Gem Millsite.  The BONZ office building and assay office are also both located on Tennessee Avenue in the Town of Chloride.

About Bonanza Goldfields Corp.: BONZ is a Las Vegas–based mineral exploration and mining company.  We are exploring gold and silver properties located in the Comstock and Goldfield Mining Districts of Nevada, and the Chloride, Oatman and Congress Mining Districts of Arizona.

About Hondo Minerals Corporation – Hondo is a Nevada-based mineral exploration and mining company that is exploring its Thunder Mountain and Mizpah Extension gold and silver properties at Tonopah, Nevada.  Hondo is a shareholder of BONZ, and BONZ is exploring Hondo's Arizona properties.

Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances and various other factors and risks.

Contact: 

Fred Bauman, General Counsel 
702-357-0555
Email:  [email protected]

SOURCE Bonanza Goldfields Corp.