Feb 25 2018
Alianza Minerals Ltd. reports a summary of work accomplished in 2017 and plans for 2018. Alianza continues to be focused on advancing its projects in promising mining jurisdictions and optioning out drill ready projects to partners. Besides work programs in Nevada and Peru, the company is planning to advance its projects in Yukon Territory and is vigorously assessing new opportunities in all three jurisdictions.
Nevada, USA
Alianza contracted Big Rock Exploration, LLC of Minneapolis, MN, to undertake exploration on Alianza’s Horsethief, Bellview and BP gold projects. Work included extra data compilation, mapping and sampling, and claim staking. At Horsethief, the property size was doubled, drill targets were identified, and the necessary permits were obtained to test these targets in 2018.
In 2017, Alianza leased the Ashby project to Nevada Canyon Resources. The Ashby property includes the Lazy Man Mine, where approximately 10,000 oz of gold was recovered from many shafts dating back to the 1930s. Nevada Canyon incorporated the Ashby into its Garfield Flats program and is conducting prospecting, geological mapping, to ascertain drill targets.
In 2018, Alianza will carry on its focus on the sediment-hosted gold component of the exploration portfolio, marketing the Bellview Gold Project to partners for additional exploration work which would make possible a drill program. Further mapping and sampling and geophysical surveys are slated for the BP project to establish drill targets. At Horsethief, the company is dynamically engaged with potential partners and is preparing for a drill program.
Peru
During 2017, management concentrated on marketing the drill-ready Yanac Copper Project. Several site visits were concluded with potential partners who are reviewing the targets generated from work finished by Cliffs Natural Resources Inc. under an exploration alliance. Cliffs’ work defined a 900 by 900 m area of anomalous copper and molybdenum-in-rock geochemistry within a larger area of porphyry-style alteration. Yanac is road accessible and is situated 60 km inland from the Pacific coast and within 80 km of port facilities.
Alianza concluded a geological review of the La Estrella gold-silver project in 2017, with a renewed focus on silver mineralization. Drilling at La Estrella has defined disseminated gold-silver mineralization over an area 1,800 by 500 m in size, with intersections such as 0.40 g/t gold and 30.40 g/t silver over 215 m (including 43.5 m of 1.13 g/t gold and 101.78 g/t silver).
A subsequent Induced Polarization (IP) survey showed the target area might spread to 2,500 m in length with a second, untested target 1,200 by 400 m in size identified northwest of the drilled area. A high-grade silver target may also be present at La Estrella, with the latest drilling intersecting 11 m of 311.2 g/t silver and 0.59 g/t gold. These results are yet to be followed up and future programs will concentrate on identifying controls on higher grades of gold, and mainly silver mineralization.
Management has been marketing the project to potential partners and will continue in that line in 2018.
The company acquired five early-stage properties through staking that have some prospects for zinc mineralization. These projects are being evaluated for their potential and prioritized for more exploration in 2018.
Alianza continues to hold its 1.08% NSR royalty on the Pucarana project adjacent to the Orcopampa (Chipmo) Gold Mine in Central Peru. Compania de Minas Buenaventura has produced more than 4.8 million ounces of gold at this mine since production began in 1967. Present development is trending towards Pucarana, and management is certain that mineralization may continue onto the Pucarana property.
Yukon Territory, Canada
Alianza has been keenly assessing the following stages of work for its five Yukon projects. Alianza’s Yukon projects focus on precious and base metals and varied deposit types, including gold (White River, high-grade gold-silver+copper in southwest Yukon), carbonate-replacement (Tim Property, high-grade silver, lead, zinc in southern Yukon), VMS (Mor Property, gold-silver-base metal drill intersections in southern Yukon), and porphyry copper-gold (Prospector Mountain, central Yukon). Management is prioritizing these projects for option/jv and where suitable, programs to advance targets to drill-ready status in 2018.
The company’s most advanced Yukon project is the Goz Creek Zinc Project, 180 km northeast of Mayo, YT. Goz Creek is a Mississippi Valley Type zinc-silver target where drilling in 2008 intersected 13.55% zinc and 29.88 g/t silver over 40.68 m. A historical resource estimate from the 1970s estimated nearly 2.9 million tons grading 11.25% zinc. The company does not consider this historical resource estimate up-to-date and it should not be banked upon. Noteworthy potential for expansion is apparent but it is improbable that Alianza will perform any exploration at the project until the Yukon Government settles the land-use problems present in the Peel Watershed region of Yukon, where the project is situated. Management feels the potential value of the historic resource and its exceptional exploration potential is worth holding until the government resolves the unresolved land-use issues.
Mexico - Royalties
Alianza continues to hold 1% royalties, each capped at $1 million, on three prospective gold projects presently held by Almadex Minerals Ltd.
General Activities
Alianza is also evaluating new projects in present and new mining-friendly jurisdictions for purchase. As new projects are acquired and others advanced, Alianza plans to evaluate all projects in view of rising metal prices, such as the zinc, gold, silver, and copper prices, and to be very opportunistic in its activities in 2018.
Alianza would also like to recognize the outstanding work done by its main geological exploration teams in North America and Peru. These areas have skilled geologists focused on finding, assessing, and progressing projects. The work and experience of these teams are paramount for Alianza to make discoveries of commercial mineral deposits.