LAS VEGAS, April 3, 2018 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has added the Keyes Mine to its Comstock Gold Project, located in the Comstock Mining District 1 ½ mile east of Virginia City, Nevada.
Keyes Mine. The Keyes property contains two patented mining claims (30.5 acres). It is adjacent to the Monte Cristo Mine, in which the company holds a 50% interest. Both Keyes and Monte Cristo are on Seven Mile Canyon Road, just north of its intersection with Six Mile Canyon Road. The Keyes Mine is on the east slope of Seven Mile Canyon. The Monte Cristo Mine is on the west slope. The Brunswick Lode appears to change course to the northeast as it crosses Seven Mile Canyon and enters the Keyes Property. This segment of the lode is an attractive drill target.
Geology. Both the Keyes and Monte Cristo Mines lie within the Brunswick Lode (also called the Occidental shear zone), parallel to the famous Comstock Lode which produced 22 million tons of ore grading 0.60 ounces gold per ton and 12 ounces silver per ton. The Monte Cristo vein (located in the footwall of the Brunswick Lode) reportedly has true widths ranging up to 60 feet. The Keyes vein is in the hanging wall of the Brunswick Lode. The vein is silicified, carbonatized and brecciated. There have been multiple episodes of fracturing and injection by silica, carbonate, pyrite and precious metals. The structure strikes north and dips from thirty to fifty degrees to the east. The Comstock Gold Project area is underlain by Tertiary eruptive, pyroclastic andesites of the Alta formation. There is abundant disseminated pyrite in the country rock which, upon weathering, causes extensive bleaching.
Past Production. The Keyes Mine has a two-compartment shaft with historic workings on two levels at 270 feet and 360 feet. Recorded production through 1933 was 550 tons with an average grade of 0.35 ounces per ton in gold equivalent. The ore mined was quartz carrying finely disseminated black silver sulfide (argentite) and a pale gold (argentiferous gold). On both the 270 foot and the 360 foot levels, a 78 foot wide vein was reported, with ore mined from both a hanging wall vein and a footwall vein.
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, Congress and Oatman 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.
Fred Bauman, General Counsel