Vancouver, British Columbia: Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is pleased to report that drilling is complete on its Packsack property, part of the Red Rice Lake gold project. All drill core has been logged and core sawing/sampling is presently underway. Core size was NQ.
The program was completed with four drill holes totaling 792.9 meters. Locations (UTM NAD83 Zone 15) and drill hole orientations are tabulated below. All technical objectives of the program were accomplished.
Drill hole PK-18-2 was drilled beneath the Packsack veins and underground drifts/crosscuts. This drill hole intersected sericite-altered and quartz-veined feldspar porphyry dike mineralized with 1% pyrite at 104.84 to 110.48m, as well as chlorite-altered and quartz-veined mafic dike mineralized with 2% pyrite at 113.35 to 126.42m. These sections are believed to be en echelon northerly extensions of the Packsack vein systems. Core angles of 35 to 40° suggest true widths will be approximately 60% in these sections (see photograph below).Drill hole PK-18-1 was abandoned without casing into bedrock when unexpectedly deep overburden was encountered along the north side of the Red Rice Lake topographic lineament, which lies immediately north of the Packsack vein systems. Drilling was then shifted to the south side of the lineament. Drill setup locations along the south side of the lineament are constrained by beaver ponds, underground drifts/crosscuts and rock dumps. Future drilling from the north side of the lineament will start with HQ to ensure casing to bedrock.
PK-18-2 also intersected sericite-altered and quartz-veined dacite volcanics with 1% pyrite at 316.73 to 318.11m and at 328.57 to 356.20m. Core angles averaging 20° suggest true widths of about 35% in these sections. These intersections are believed to be the down-plunge extension of the Tine veins, which outcrop about 300m south of the Packsack shaft. The Tine veins were not a primary target of this program (see photograph below).
Drill hole PK-18-3 was intended to test for a possible east to northeasterly plunge of the Packsack vein systems. This drill hole intersected sericite-altered quartz-veined dacite volcanics with 2% pyrite at 159.58 to 161.95m. Core angles of 30° suggest 50% true width. This drill hole suggests that the Packsack vein systems do not plunge significantly to the east or northeast, consistent with observations of a possible northerly en echelon pattern from hole PK-18-2.
Drill hole PK-18-4 was intended to intersect the Big Dome vein between the -125ft (38m) level and -250ft (76m) drifts/crosscuts, in order to provide gold grade/width data on the portion of the vein which was explored by underground exploration in the 1930s. This drill hole intersected sericite-altered and silicified dacite volcanics with minor pyrite at 38.10 to 46.33m (true width 70%), likely the Hargreaves vein. The Big Dome vein was intersected from 56.80 to 65.38m and was characterized by a 50% mix of quartz-calcite-ankerite-tourmaline veining with 1% pyrite and sericite-altered mafic dike wallrock with 3% pyrite. Core angles on the Big Dome vein varied widely but averaged 30° suggesting a 50% true width (see photo below). Variable sericite alteration and quartz-calcite-ankerite-tourmaline veining continued in both altered dacite and altered mafic dikes with 1 to 2% pyrite at 65.38 to 90.09m and 112.61 to 115.59m with core angles averaging 45° suggesting 70% true widths.
“These geological/mineralogical characteristics are indicative of a very promising environment for gold exploration,” stated consulting geologist William Hood.
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’ 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 Lake 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.
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
Mr Christopher 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