Quantcast

Bonanza Goldfields BRB trenching update

March 23, 2010

PHOENIX, March 23 /PRNewswire-FirstCall/ – Bonanza Goldfields Corp (BONZ:OTCBB) is pleased to announce a update on its trenching program of two unpatented placer claims (320 acres) located in the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains.

Gold Explorations LLC reports that the BRB Project trench #1 was completed on the 18th of March, 2010. The total length of this trench was 761 feet and depths varied from 4 to 11 feet. A total of 9 rock chip samples and 15 silt samples were taken from the material removed from the bottom of the trench where we hope to recover placer gold values.

    -  From 404 feet to 421 feet sample TAR # 7 contained abundant silica,
       fe ox (iron oxide), mn ox (manganese oxide), with traces of sphalerite
       (zinc sulfide) and galena (lead sulfide).

    -  From 740 feet to 761 feet sample TAR # 9 contained abundant silica,
       with traces of sphalerite, galena and copper.

The fact that the south end of the trench ends in visual mineralization might confirm the fact that the mineralization may extend under the rhyolite cap and into BRB Claims # 3&4 as we earlier suspected.

Chris Tomkinson states “initial visual findings have characteristics that are encouraging. We will be looking forward to the results from these first 24 samples.”

About Bonanza Goldfields Corp.

Bonanza Goldfields Corp. engages in the acquisition, exploration and development of natural resource properties in the United States, primarily in the State of Arizona. The Company owns the mining rights to two unpatented placer claims in the Black Rock Basin (BRB), located on 320 acres of BLM ground in the southern part of the Vulture Mining District, Maricopa County Arizona on the northeastern flank of the Belmont Mountains. Over the past two years, Bonanza has taken over 400 soil and rock chip samples from the BRB claims. Prior samples indicate gold up to 0.10 oz per ton, silver up to 7 oz per ton, lead over 20% and zinc over 30% per ton with some copper. For more information on Bonanza Goldfields Corp., please visit www.bonanzagoldfields.com

Certain statements contained in this news release that are not based on historical facts are “forward-looking statements” and are prospective. These statements may appear in a number of different places in this news release and can be identified by words such as “estimates”, “projects”, “expects”, “intends”, “believes”, “plans”, or their negatives or other comparable words. Forward-looking statements include statements regarding the outlook for Bonanza’s future operations, plans and statements about future market conditions, supply and demand conditions, forecasts of future costs and expenditures, and other expectations, intentions and plans that are not historical fact. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Bonanza. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance those actual results or developments anticipated will be realized.

Section 21E of the Securities Exchange Act of 1934 as amended, and is subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward-looking statements as a result of risk factors discussed in Bonanza Goldfields Corp. reports that will be on file with the US Securities and Exchange Commission.

SOURCE Bonanza Goldfields Corp


Source: newswire



comments powered by Disqus