Bonanza Goldfields, a Las Vegas–based mineral exploration and mining company, has agreed to acquire Mizpah Mines for an undisclosed price to expand its footprint in Tonopah, Nevada.
Image: Operations at a mine. Photo: courtesy of etaphop photo/ FreeDigitalPhotos.net.
Mizpah Mines holds an option to acquire the Sparrow patented mining claim at Tonopah.
Also called as the Mizpah Extension Mine, the property features sizeable mine dumps from the Tonopah Belmont Mine, which is considered to be among Tonopah’s major silver and gold producers in the past.
Initial dump sampling carried out at the Mizpah Extension Mine has revealed anomalous gold and silver values, said Bonanza Goldfields.
The last work on the Mizpah Extension mine was executed by Tonopah Belmont under lease. The Tonopah Belmont Mine had a recorded production of 2,019,068 tons of ore between 1906 and 1940, with a value of $38,362,293.
Bonanza Goldfields, in a statement, said: “In addition to the mineral potential believed to exist in the property’s dumps, Bonanza Goldfields is looking to establish a permanent base of operations on its own private property at Tonopah in support of its nearby Thunder Mountain Gold project.
“This could be similar to the Company’s Tennessee Avenue facility at Chloride, Arizona and the Hull patented mining claim at Congress, Arizona.”
Bonanza Goldfields is engaged in exploration of gold and silver assets across the Comstock, Tonopah and Thunder Mountain Mining Districts of Nevada, and also in the Chloride, Oatman and Congress Mining Districts of Arizona.
In April, Bonanza Goldfields added the Keyes Mine to its Comstock gold project in the Comstock Mining District.
The Keyes Mine features two patented mining claims, spread across 30.5 acres. Its location is near the Monte Cristo Mine, in which Bonanza Goldfields holds a stake of 50%.
Prior to that, in March, Bonanza Goldfields acquired the Golden Horseshoe Property for its Congress Project, located near Wickenburg in Arizona. Bonanza Goldfields, then revealed that it is more keen in Golden Horseshoe’s potential for gold and silver, particularly to supplement its Tarantula Project.