O.T. "BONZ" - New Start-Up With Three Projects In Development
Bonanza Goldfields Corp. (PK:BONZ) ("Bonanza" or the "Company"), an exploration and mining company based in Phoenix, Arizona, and Osiris Gold Corporation (Osiris), an established Denver, Colorado holding company of gold claims in the historically resource rich Red Mountain district - aggregating patented mining claims, have entered into a definitive joint venture agreement forming Red Mountain Gold LLC. The joint venture owns 43 claims with 332,000 ounces of proven gold reserves and is currently negotiating to purchase additional mining claims in the area of interest.
“Commenting on Bonanza Goldfields' historic development, President Scott G. Geisler stated, "Although the final aspects of the Preliminary Geological Survey are being completed, management has enough information to move ahead with alluvial placer production plans. Equipment and personnel are being mobilized and nominal production levels are expected to proceed in the current quarter. Furthermore, based on cursory exploration of the new claims package, targets are already being identified for a drill program commissioning to prove out additional placer material and mineralized quartz veins." “Geisler continued, "Expanding our footprint at Tarantula is very advantageous for shareholders, and securing these claims brings substantial new value to the company. Achieving our expansion goals ensures the life of the project as we move forward. Early on, we proved to ourselves the viability of the project through local assay and analysis. With exceptional visible mineralized quartz present on Tarantula's claims and our close proximity to the historic Congress mine site, we feel Bonanza now has a world class land package that will prove to be as historic in nature as the Congress Mine."