Bonanza Goldfields Corp. Announces Discovery of High Grade Gold in Quartz Veins
04 Abril 2013 - 9:00AM
Marketwired
Bonanza Goldfields Corporation (PINKSHEETS: BONZ) announced today
that three hand-collected samples from an 1,800 foot strike of an
exposed quartz vein within the Bonanza patents were assayed at 0.08
ounce per ton (oz/ton), 0.192 oz/ton, and 0.62 oz/ton. A single
sample collected from a second quartz vein on Bonanza's leased,
patented property assayed at 2.73 oz/ton. A fifth sample collected
from a pit on a separate leased Bonanza patented property assayed
at 0.007 oz/ton. All assays were performed by Copper State
Analytical Lab in Prescott, Arizona an independent registered
assayer.
"The results from the five initial phase lode assay tests on the
patented property are encouraging," said Mr. Stojsavljevich,
President and CEO of Bonanza Goldfields Corp.
The Company's geochemist has identified an 1,800 foot exposure
of the larger vein which has a similar strike, dip, and
mineralization as the veins in productive mines in the region. The
Company will seek to utilize current funding sources to acquire
additional equipment and employees needed to recover gold from the
veins. The management team also intends to take steps to complete a
comprehensive geological mapping, geochemical sampling, and
drilling program to evaluate the reserve base and attempt to
identify additional gold anomalies on the property.
Based on this new data and a rigorous internal analysis of the
relative efficiencies of continuing placer exploration and recovery
compared to mining the quartz veins, the Company has temporarily
suspended bulk placer exploration. The Company has engaged a third
party vendor to continue to collect placer samples on the site.
Lode Assay Results:
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CSAL Client Gold Silver
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ID ID opt opt
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0213-154295 MCT-1 0.192 < 0.03
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0313-158992 BG 001 2.73 0.45
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0313-158993 BG 003 0.62 0.36
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0313-158994 BG 004 0.08 0.06
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0313-158995 BG 005 0.007 0.03
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opt = ounces per ton Procedure: Fire assay with an ICP
finish
Notice Regarding Forward-Looking
Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements include, among other things, the
development, costs and results of our exploration program at our
properties and any anticipated future production. Actual results
could differ from those projected in any forward-looking statements
due to numerous factors. Such factors include, among others, the
inherent uncertainties associated with mining exploration
companies. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD Michael Stojsavljevich President and
CEO
Contact: Bonanza Goldfields Corp. Email Contact 928-251-4044
Bonanza Goldfields (PK) (USOTC:BONZ)
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