Haldane Silver Project

AVAILABLE FOR JV

Overview

The Haldane property is an under-explored high-grade silver property in a historic silver mining region. The 8,164 ha property hosts structurally-controlled silver veins and is located in the Keno Hill silver district in the central Yukon, within the traditional territory of the First Nation of Na-Cho Nyak Dun (“FNNND’). The Keno Hill silver deposits produced over 200 million ounces of silver in a long history of mining from 1913 to 1989, with production recommencing briefly from 2011-2013. The Haldane property is well situated approximately 25 km west of the main Keno Hill deposits. Mineralization is controlled by northerly trending structures and consists of galena, sphalerite and tetrahedrite-tennantite in quartz-siderite gangue.

The best mineralization found to date occurs where the mineralized structures cut the Keno Hill quartzite unit, below the Robert Service Thrust. This is almost identical to the setting for mineralization at the main Keno Hill deposits.

The Keno Hill District

The Keno Hill District is located in a mining friendly jurisdiction and ranks as one of the highest grade silver districts in the world. The Yukon government Minfile (2003) production statistics for the period of 1913-1989 indicate that 4.87 million tonnes were mined at an average grade of 1,389 grams/tonne (g/t) silver, 5.62% lead and 3.14% zinc. Over 65 deposits and prospects have been identified in the district. Most occur within the Keno Hill quartizite as structurally-controlled veins in proximity to the Robert Service Thrust.

Alexco Resources is the biggest player in the district, having recently (December, 2017) received the final permit for the Flame and Moth deposit with the development decline scheduled for Q2 2018. Alexco’s March 2017 PEA outlined indicated mineral resources of 26.8 million ounces at an average silver grade of 498 g/t and inferred mineral resources of 4.1 million ounces of contained silver at an average grade of 356 g/t. The deposit remains open for expansion (source: www.alexcoresource.com).

In addition to the Flame and Moth, Alexco has permitted the Bellekeno (production as recent as 2013) and Lucky Queen (81,000 tonnes at 1,206 g/t silver) deposits and is upgrading existing resources at the Bermingham deposit to include these deposits in the development pipeline in the Keno District. It is important to note that Flame and Moth was a recent blind discovery adjacent to existing infrastructure.

The Haldane Property

The Haldane property is named after Mt. Haldane, on which the property is located. Earliest documented work dates to 1918, focused on the Mt. Haldane Vein System (MHVS) that describes two adits on the Middlecoff Zone on the south side of Bighorn Creek. The mineralized veins were traced over 600 m on surface and the underground development produced 24.7 tonnes of hand-sorted ore that graded at 3,102 g/t Ag and 59% Pb. At the same time, work was taking place on the Johnson Vein on the north side of Bighorn Creek, including a short adit. Eventually, in 1926 and 1927 these workings produced a total of 2.1 tonnes at 4,602 g/t Ag and 57.9% Pb, also of hand-sorted ore. This mineralization is hosted in north-trending veins within the Keno Hill quartzite, in close proximity to the Robert Service Thrust. Glaciation during the last glacial period was confined to the valleys, meaning that much of the Mt Haldane area has not been glaciated at higher elevations and because of this, ground is heavily weathered and broken, with oxidation extending as deep as 150 metres.

2018 Field Program

A very successful 2018 program at Haldane identified two large new soil anomalies and doubled the size of the Ross soil anomaly, validating management’s expectation that additional Keno District-style silver-bearing veins may be present on the property. The potential strike extension of the Mt. Haldane Vein System (MHVS) is thought to be reflected at the Ross Anomaly, which was extended to 600 metres in length. It may reflect multiple buried veins, consistent with nature of the MHVS. This brings the strike potential of the MHVS to 3.5 km in length, with much of it untested. Overburden in excess of 4 metres deep hindered the Alianza’s efforts to expose veining in bedrock, but high concentrations of lead, silver and pathfinder elements in soils collected from the trench indicate a mineralized bedrock source may be nearby. In between the Ross and main MHVS area, veins are thought to underlie the less prospective phyllite units which have been faulted over top of the prospective quartzite rocks. Therefore, small or lower grade lead and silver showings in the phyllites may reflect more substantial mineralization at depth.

The Bighorn anomaly is significant in that it lies 2.8 km northwest of the MHVS, and may be reflecting a new set of veins in an otherwise untested area of the property. The anomaly is open and like the Ross anomaly, is in an area of tree cover. Further work is required to outline the size of the anomaly and the nature of the mineralization it may be indicating, but it represents an exciting opportunity in an area of the property that has received little prior work.

The North Star anomaly is over 1000 metres in length in the northeast portion of the property, where prior work identified spotty lead-silver-zinc-tin anomalies. It trends towards the Strebchuk lead-silver showing over 700 metres south. Minor alteration and mineralization was found in float in the vicinity of the anomaly, but it is thought that mineralization would be recessive and largely covered by the quartzite boulder float that dominates this area.

Previous Operators

Very little work was done in the area until the 1960s when two companies worked what are now the Haldane claims. One held the ground covering the MHVS on the western half of the property, rehabilitating the old workings and discovering additional mineralization through minor soil sampling and extensive bulldozer trench work. An optionor completed 701 m overburden drilling in 44 holes, one surface drill hole for 61.6 m, 487 m of  underground drifting, mostly around the Johnson Zone, and 518 m of underground drilling around the Middlecoff Zone.

The eastern half of the property was mapped, prospected and sampled during the same period by another owner, identifying silver-lead-zinc showings (Strebchuk and soil geochemical anomalies). Sporadic work continued on the property in the late 1970s and early 2000s looking for tin-tungsten and intrusion-related gold mineralization, respectively.

Mt. Haldane Property, Significant Historic Results

The most recent work on the property was completed by the Equity Exploration Consultants Inc (the property vendor) in 2010 and 2011 on behalf of an optionor. Work included upgrading the road access to the property, mapping, prospecting, soil geochemical sampling and 1800 metres of diamond drilling in two phases. This drilling extended the mineralization associated with the historic Johnson and Middlecoff zones, intersecting wide, strong structures. However, the extremely broken and strongly oxidized nature of the mineralized zones resulted in poor recoveries and limited remnant sulphide minerals potentially affecting the reliability of the assay results. Management believes that with an appropriate drill budget, larger diameter coring and testing lower parts of the system where the oxidation does not run as deep will lead to better recoveries and silver-lead-zinc concentrations in assays.

Significant Intersections – Haldane Drilling

Next Steps

Alianza, through Equity Exploration Consultants Ltd, conducted a first-pass mapping, prospecting and geochemical sampling program in 2018 to identify new vein structures and strike extension of known veins. The data from this program will be analyzed through the last quarter of 2018 to plan the 2019 program. It is likely that the 2019 program will consist of further target definition at the newly generated targets such as Bighorn, Northstar and Ross, as well as drilling on the Mt Haldane Vein System targets and their likely extensions.

Maps