LAS VEGAS — Las Vegas–based mineral exploration and mining company Bonanza Goldfields Corp. entered into an agreement with Middle Verde Development Co. to add the Idaho and Broken Hills patented mining claims to its Golden Gem Project. The Golden Gem Mine, 10 miles north of Kingman, Arizona, adjoins the Idaho and Broken Hills Mines.
The Idaho and Broken Hills claims 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 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, 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 more than 500 acres of private land, the other mines are (from north to south) the Badger, Hercules, Rambler, Payroll, Molly Gibson, Arizona & Montana, 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 on Tennessee Avenue in the town of Chloride.
BONZ is exploring gold and silver properties in the Comstock and Goldfield Mining Districts of Nevada, and the Chloride, Oatman and Congress mining districts of Arizona.
Hondo Minerals Corp. is a Nevada-based mineral exploration and mining company that is exploring its Thunder Mountain and Mizpah Extension gold and silver properties at Tonopah. Hondo is a major shareholder of BONZ, and BONZ is exploring Hondo’s Arizona properties.