Vancouver, British Columbia: Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) has received a drill permit for its upcoming drill program on its Packsack gold property (part of the company’s Red Rice Lake gold property in Manitoba’s Bissett gold camp).
The Packsack property hosts several gold-bearing veins within a conjugate fracture set adjacent to the Red Rice shear zone. Previous exploration on the Packsack property has been focused on the Big Dome Vein, with a shaft to 525 ft (160 m) and 2867 ft (874 m) of drifting and crosscutting on 4 levels down to 500 ft (152 m), all completed between 1936 and 1940. The structural control on veining at the Packsack property is similar to that at the True North Mine, 4 km northeast, operated by Klondex Mines Ltd.
“We are looking forward to receiving drill results from this promising gold property’ said Christopher Anderson, President of Alliance Mining Corp. “This property has never been explored below the shaft that was sunk in the 1930’s.”
Alliance is anticipating its drill program will commence in the near future. The company will be releasing a more comprehensive description of drill targets and locations shortly.
Alliance is also pleased to announce that it has retained consulting geologist William C. Hood, P.Geo to supervise the Packsack drilling program and to assist with expanding Alliance’s involvement in the Bissett gold camp. Mr. Hood has four decades of mineral exploration experience and has supervised multiple drill and exploration programs in the Bissett gold camp.
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south from Klondex Mines’ producing True North gold mine. The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Crow belts in Northwestern Ontario.
Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies. At present Alliance is actively working with its Manitoba based geological team to prepare for its upcoming exploration program. Further information is available on Alliance’s website at www.alliancemining.com.
William C. Hood, P.Geo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this news release.
ON BEHALF OF THE BOARD
“Christopher R. Anderson”
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Antony Claydon: 604-445-5421
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither 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.
Alliance Mining Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4