- Analytical results for final four holes expected mid-October 2020
Alianza Minerals Ltd. (TSX-V: ANZ, OTC: TARSF) (“Alianza” or the “Company”) reports results from holes 4, 5 and 6 of the 10 hole 2020 reverse-circulation (“RC”) drilling program at the Horsethief Gold Property, Nevada. This work is funded by partner Hochschild Mining (US), a subsidiary of Hochschild Mining PLC (“Hochschild”, LSE:HOC) under an option to earn a 60% interest in the project by funding exploration expenditures of US$5 million over 5.5 years. Six of ten widely-spaced holes (totalling 2,804 metres), testing five target areas over 3.5 square kilometres have now been reported, with the remaining four holes expected to be released in October.
Gold assays have been received for holes 20HT-004, 005 and 006. These three holes continue to confirm the presence of favorable host stratigraphy, alteration, and/or anomalous gold mineralization at the Horsethief South (20HT-004 and 005) and the Mustang (20HT-006) targets. Hole 20HT-004 was collared on the west flank of the Horsethief South target in what appears now to be a fault-block of limestone and dolostone. Very little alteration or oxidization was noted and no anomalous gold results were returned. Hole 20HT-005 was collared in the northern portion of the Horsethief South target, drilled at -45 degrees to the southeast. The bottom of the hole intersected 85.3 metres of altered and oxidized limestone and dolostone prior to the hole being terminated in a void at 183 metres. The section is anomalous in gold and appeared to be strengthening with depth. The strongest intercept of 3 metres of 0.141 g/t Au occurs within 20 metres of the end of the hole.
Hole 20HT-006 was collared in volcanic rocks at the Mustang Target, which lies at depth where it was postulated that the prospective carbonate rocks may lie unconformably beneath younger volcanic rocks. This hole confirmed this relationship, intersecting limestone at a depth of 233.2 metres. From 289.6 metres to the end of the hole at 367.3 metres (totalling 77.7 metres), anomalous gold values occur within limestone and siltstone that is altered with patchy weak decalcification and silicification, and mineralized with zones of disseminated pyrite and weak oxidation.
The remaining 4 holes explore untested targets in the Thoroughbred (20HT-010), Mustang (20HT-008) and the recently identified Stallion target (20HT-007, 20HT-009). All of the remaining holes intersected altered and oxidized carbonate stratigraphy confirming the continuity of the prospective stratigraphy east of the main carbonate window.
“The first six holes at Horsethief have demonstrated the presence of alteration and mineralization features typical of productive gold mineralizing systems over a broad area,” stated Jason Weber, President and CEO of Alianza Minerals. “We are encouraged by the size of the mineralizing system and confirmation of gold mineralization in carbonates beneath younger volcanic cover but have only intersected anomalous gold values to date. The four remaining holes all tested further, under-evaluated parts of the system particularly at the Stallion and Thoroughbred targets.”
Multi-element geochemical results are pending and gold results from the remaining holes are not expected until October.
A map of the drill hole collar locations is shown below and can be found on the Company’s website.
Quality Assurance and Quality Control
Alianza employs rigorous QAQC processes in the evaluation of all analytical drill program results. Drill program samples are shipped directly in sealed bags and crates to Bureau Veritas laboratories in Reno, Nevada (ISO 9001 Certification). Samples shipped include primary drill samples and inserted CRM, blank and field duplicate samples. Laboratory pulp splits are generated during sample preparation. Fire assays are performed at the Reno, NV, laboratory; multielement ICP analyses are performed on pulp splits shipped to the Bureau Veritas laboratories in Vancouver, British Columbia. Referee analyses are performed on a subset of the samples by an ISO 9001 certified laboratory once all analytical data from the program has been received.
Horsethief is located 16 miles (25 km) east of the historic mining town of Pioche, NV. Drilling at Horsethief follows a very successful 2019 program that included detailed mapping focussed on lithology, structure and alteration of the prospective limestone and dolostone stratigraphy exposed at Horsethief. Significantly, based on lithological characteristics and fossil identification, this work confidently assigned stratigraphic ages ranging from upper Cambrian to lower Ordovician. This is an important age determination as it corresponds to the ages of rocks hosting other major deposits such as the Long Canyon Gold Mine.
Additionally, the 2019 work program identified a new window of upper Cambrian to lower Ordovician-aged carbonate stratigraphy with significant jasperoid alteration in the northeast portion of the property. An additional 26 claims were staked to cover this occurrence as well as prospective stratigraphy identified in the southern portion of the property.
Horsethief hosts five primary drill targets; four target areas defined by surface exposures of altered carbonate rocks and one target at depth, interpreted from induced polarization (IP) and resistivity geophysical surveys.
About Alianza Minerals Ltd.
Alianza employs a hybrid business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Nevada, Colorado and Peru. Alianza currently has two projects optioned out in Nevada and Yukon Territory, and is actively exploring on two others. Alianza’s current partners include Hochschild Mining PLC and Coeur Mining, Inc.
The Company has 109.7 million shares issued and outstanding and is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTC market in the US under the symbol TARSF.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
Renmark Financial Communications Inc.
Tel: (416) 644-2020 or (514) 939-3989
To learn more visit: www.alianzaminerals.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY’S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.