The Conversation (0)
Tarsis Resources (TSXV:TCC) announced the closing of its acquisition of Estrella Gold (TSXV:EST) to form Alianza Minerals. Tarsis also completed a 10 for 1 share consolidation, and Alianza will trade under the symbol (TSXV:ANZ) beginning April 30 2015. Shares of Estrella will be delisted from the TSX Venture Exchange on the same day.
Tarsis Resources (TSXV:TCC) announced the closing of its acquisition of Estrella Gold (TSXV:EST) to form Alianza Minerals. Tarsis also completed a 10 for 1 share consolidation, and Alianza will trade under the symbol (TSXV:ANZ) beginning April 30 2015. Shares of Estrella will be delisted from the TSX Venture Exchange on the same day.
As quoted in the press release:
The management and board is comprised of elements from both companies with complementary technical, corporate and financial skill sets. Management now consists of:
Jason Weber, P.Geo., President, Chief Executive Officer and Director.
Marc Blythe, MBA, P.Eng., Chief Operating Officer and Director.
Winnie Wong, B. Comm. CPA-CA, Chief Financial Officer and Secretary
In addition to Messrs. Blythe and Weber, Alianza’s board will consist of:
Mark T. Brown, B. Comm., CPA-CA, Executive Chairman
Adrian Fleming, BSc., Director
Craig Lindsay, MBA,CFA. , Director
John Wilson, P.Geo., Director
In connection with the closing of the Arrangement, Mark T. Brown resigned as Secretary and Chief Financial Officer of Tarsis, and Marc Blythe resigned as President and Chief Executive Officer of Tarsis. Mr. John Wilson was appointed to the Alianza Board as an additional director in connection with the completion of the Arrangement.
Wednesday’s release also described Alianza’s project portfolio:
Alianza will have four projects in Peru, ten in Nevada, four in Mexico, and five in the Yukon Territory. These projects are focused on large exploration targets that are highly prospective for gold, silver, copper, lead and zinc. One joint venture (the Yanac Joint Venture) is in place with Cliffs Natural Resources Exploration Inc., a wholly-owned subsidiary of Cliffs Natural Resources Inc. (NYSE: CLF) (“Cliffs”), which resulted from a large regional exploration program led by Estrella in southern Peru. Yanac hosts a copper-moly porphyry system exposed over a 1.1 by 1.25 km area of coincident copper and molybdenum mineralization and porphyry-style alteration. Geophysics indicates the system may be more expansive at depth. Due to a change in corporate direction at Cliffs, the project was placed on hold just prior to the first drill test of the target in late 2014. Management will continue to work with Cliffs to advance Yanac.
New projects available for option include three high-sulphidation gold targets in Nevada, Mexico and Peru.
Alianza recently acquired 8 new gold projects in Nevada that were formerly held by Fronteer Gold. These projects have excellent potential and are located in favourable mining areas with good infrastructure. One of Alianza’s first priorities is to prepare these projects for potential partners.
The East Walker project located in Lyon County, Nevada is prospective for high-sulphidation epithermal gold mineralization. Outcrop mapping identified pyrite-rich breccias and vuggy silica intermittently over an area of 600 meters by 200 meters. Extensive clay alteration surrounds the gold mineralization. Channel sampling by a prior operator reportedly returned 24.4 meters grading 3.39 g/t gold.
The Isy property is located in southern Peru and was recently returned to Alianza by a partner. Isy consists of a 1 by 4 km colour anomaly with areas of silicification (including vuggy silica), argillic and advanced argillic alteration and anomalous gold, silver and pathfinder element geochemistry. Very little work has been done on this prospective target, however sampling and prospecting has yielded rock samples ranging from below detection limit to 0.72 g/t gold and silver from 1.1 to 83.8 g/t.
Company president and CEO, Jason Weber, said:
We are very excited to have completed this transaction and to move forward as Alianza Minerals. We will be active in some excellent jurisdictions with strong mining and exploration history, balanced with great potential for new grassroots discoveries.
Click here to read the Tarsis Resources (TSXV:TCC) press release
Click here to see the Tarsis Resources (TSXV:TCC) profile.