LAS VEGAS, Sept. 12, 2017 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has entered 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.
The Idaho and Broken Hills claims only recently became available when Middle Verde (a related party) acquired these claims in a land exchange with an unrelated party.
An early BONZ exploration objective at Golden Gem is the eleven (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. Further expansion and consolidation of the Golden Gem land position is in progress and will be detailed in subsequent announcements as the transactions are completed.
The Golden Gem, Idaho and Broken Hills Mines are among a total of 12 mines in the BONZ Chloride portfolio. Located on over 500 acres of private land, the other mines are (from north to south) the Badger, Hercules, Rambler, Payroll, Molly Gibson, Arizona & Montana (A&M), Towne, Summit and Daisy Twins Mines. There is also land for a mineral processing facility on the Terminal Millsite, which is adjacent to the Molly Gibson and A&M Mines. The BONZ assay office is 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 major 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.
SOURCE Bonanza Goldfields Corp.