LAS VEGAS, June 14, 2018 (GLOBE NEWSWIRE) -- Bonanza Goldfields Corp. (OTC PINK: BONZ) has entered into a settlement agreement with Freedom Boat Company that will result in a reduction of Company debt by $750,000.
Bonanza Goldfields Corp. finalizes the acquisition of Mizpah Mines, LLC, the property contains substantial mine dumps from the Tonopah Belmont Mine, one of Tonopah's major past silver and gold producers. Initial dump sampling at the Mizpah Extension Mine has indicated anomalous gold and silver values.
Tonopah is a well-known Nevada mining district discovered in 1900. Second only to the Comstock Lode in Nevada historical silver production, Tonopah and nearby Goldfield were together responsible for restoring Nevada's mining industry in the early 20th Century. Total recorded production for the Tonopah District from 1900 to 1950 was 8,800,000 tons of ore, from which 1,861,000 ounces of gold and 174,153,000 ounces of silver were recovered with a total value of $147,564,015 (historical dollars, when gold was $20.67 or $35 per ounce). Tonopah is located midway between Las Vegas and Reno, Nevada and is conveniently accessed by US Highway 95 and US Highway 6. Utilities are available.
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, Tonopah and Thunder Mountain Mining Districts of Nevada, and the Chloride, Oatman and Congress Mining Districts of Arizona.
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