Alliance First Drill Hole Completed - Shows All the Characteristics of Gold Mineralization - Bissett Gold Camp, Manitoba
Vancouver - Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is providing an update on its drill program on its Packsack gold property which began on March 15th 2018, and is being supervised by Alliance’s consulting geologist William C. Hood P. Geo. The Packsack property forms part of the company’s Red Rice Lake gold project located in Bissett Manitoba. The first hole of the approximately 1,000 metre drill program was drilled to a depth of 380 metres under the existing Packsack shaft. Drilling under the Packsack shaft has shown that shearing, late dikes, and quartz veining with sericite, pyrite and tourmaline extend well below the 150 metre level drift. The features and mineralization observed in the core “show all the characteristics of gold mineralization found in the Packsack veins and elsewhere in the Bissett Gold camp,” says Bill Hood, P.Geo.
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The second drill hole in now underway. This is the first significant drill program to test under the 500 ft (152 m) level exploration drift on the Packsack property.
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.
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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
Christopher R. Anderson
President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: ir@alliancemining.com
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
Source: Alliance Mining Corp. (TSX Venture:ALM)