Precious Metals

Second Copper Prospect acquired under Southwest US Copper Alliance 8 km on trend from producing Lisbon Valley Mining Complex Mineralization and host rocks bear strong resemblance to those at Lisbon Valley Mining Complex Alianza Minerals Ltd. and Cloudbreak Discovery PLC are pleased to announce the acquisition of the Stateline Property located in Colorado and Utah, United States, consisting of 22 unpatented mining ...

(TheNewswire)



  • Second Copper Prospect acquired under Southwest US Copper Alliance

  • 8 km on trend from producing Lisbon Valley Mining Complex

  • Mineralization and host rocks bear strong resemblance to those at Lisbon Valley Mining Complex

Alianza Minerals Ltd. ("Alianza" or the "Company" ) ( TSXV:ANZ ) ( OTC:TARSF ) (" Alianza" or the "Company" ) and Cloudbreak Discovery PLC ("Cloudbreak") (LSE: CDL) (the "Alliance") are pleased to announce the acquisition of the Stateline Property ("Stateline"), located in Colorado and Utah, United States, consisting of 22 unpatented mining claims acquired from local prospectors

The Alliance is excited to announce its second property acquisition targeting sediment hosted copper mineralization at the Stateline Project. Together, the two companies will continue to identify, acquire, and advance copper projects in the southwestern US states of Arizona, Colorado, New Mexico and Utah. Progress has been excellent to date and work continues to identify new copper exploration opportunities to acquire and advance with the intent of finding strong partners to move the projects forward.

Stateline Project Highlights:

  • Road accessible 148 hectare property covering Paradox Basin sedimentary package in San Miguel County, Colorado and San Juan County, Utah

  • Favourable stratigraphy known to host sediment-hosted copper deposits in the Paradox Copper Belt including the producing Lisbon Valley Mining Complex ("LVMC"), 8 kilometres to the northwest

  • Exposed copper oxide mineralization at surface within host sandstone units bearing strong similarities to copper deposits along trend at the LVMC

  • Mineralized outcrops have yielded assay results up to 1.6% copper and 1.7 grams per tonne ("g/t") silver and 0.45% copper and 2.1 g/t silver.

Jason Weber, President and CEO of Alianza , noted that "The Stateline property is another great target generated through this Alliance and demonstrates a strong ability to identify interesting prospects for copper mineralization."

Kyler Hardy, President and CEO of Cloudbreak , reflected on Stateline, stating "This target presents an opportunity to drill test multiple horizons of favourable mineralization. Mineralization outcrops at surface and we are looking forward to gaining a better understanding of the geological setting at Stateline. The proximity and on-trend position of Stateline relative to the LVMC makes this a highly prospective project in our view."

About the Stateline Project

The Stateline project is located approximately 40 kilometres southwest of Naturita, Colorado, covering the state boundary between Utah and Colorado at the southeast end of the Lisbon Valley. This property lies within the Paradox Copper Belt, which includes the producing LVMC. There are numerous historical copper occurrences that have been identified throughout the belt, however, many of these have not been explored using modern exploration techniques.

At Stateline, historical exploration was conducted as part of the regional programs associated with the LVMC. Previous explorers reported copper mineralization highlighted by results of 1.6% copper and 1.7 g/t silver in outcrop. Mineralization visible in outcrop occurs as disseminated malachite, which may be amenable to modern open pit mining with Solvent Extraction Electro Winning ("SXEW") processing similar to the LVMC. The mineralization noted to date is interpreted to be the southeast extension of the Flying Diamond mineralization, which is a current target of interest associated with the Lisbon Valley Mining Complex.

Figure 1. Stateline Property Location and Regional Geology Plan Map


Click Image To View Full Size

Stateline is located adjacent to a northwest trending graben bounding fault near the southeast terminus of the Paradox Basin salt-cored anticline in a similar structural and stratigraphic setting as the LVMC. Copper mineralization occurs in bleached and altered, permeable sandstone units adjacent to the faults. Copper mineralization in outcrop includes malachite, azurite, chalcocite and black copper oxides.

Historical surface sampling of mineralized outcrops has yielded assay results up to 1.6% copper and 1.7 g/t silver and 0.45% copper and 2.1 g/t silver. Disseminated copper-silver mineralization has also been identified in several outcropping sandstones in other stratigraphic positions. Both styles of mineralization will be investigated in upcoming work programs with the goal of refining drill targets in these units. Initial work will include detailed geological mapping, soil and rock sampling, and geophysics.

The project is road accessible year-round, via a network of roads through the valley, including those supporting access to the LVMC. The project is comprised of 22 mining claims on Federal mineral rights managed by the BLM. Ground covered by the current claims was at one time part of the Lisbon Valley Mining Complex claim package.

The Stateline project was purchased from the underlying vendors for a USD$20,000 cash payment and a further USD$40,000 payment in the form of cash and/or shares.

About the Strategic Alliance

Under the terms of the Alliance, either Cloudbreak Discovery Plc or Alianza Minerals Ltd can introduce projects to the Strategic Alliance. Projects accepted into the alliance will be held 50/50 but funding of the initial acquisition and any preliminary work programs will be funded 40% by the introducing partner and 60% by the other party. Project expenditures are determined by committee, consisting of two senior management personnel from each party. Alianza is the operator of alliance projects unless the Alliance steering committee determines, on a case-by-case basis, that Cloudbreak would be a more suitable operator. The initial term of the Alliance runs for two years and may be extended for an additional two years.

About Alianza Minerals Ltd.

Alianza employs a hybrid business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Colorado, Nevada and Peru. Alianza currently has one project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc., a copper exploration alliance in the southwestern United States with Cloudbreak Discovery PLC and is actively seeking partners on other projects.

The Company is listed on the TSX Venture Exchange under the symbol "ANZ" and trades on the OTCQB market in the US under the symbol "TARSF".

Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

For further information, contact:

Jason Weber, President and CEO

Sandrine Lam, Shareholder Communications

Tel:  (604) 807-7217

Fax: (888) 889-4874

Renmark Financial Communications Inc.

Scott Logan

slogan@renmarkfinancial.com

Tel: (416) 644-2020 or (212) 812-7680

www.renmarkfinancial.com

To learn more visit: www.alianzaminerals.com

NEITHER THE 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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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Alianza Minerals

Alianza Minerals

Overview

Alianza Minerals (TSXV:ANZ) is a hybrid-prospect generator with an active portfolio of high-value projects. Alianza currently holds five projects in Nevada, six in Yukon, one in Colorado, one project and one royalty in Peru and three royalties in Mexico. In the rising precious metals market, Alianza has been recognized for having a standout portfolio of projects in highly prospective and active mining jurisdictions.

The company’s 100 percent owned flagship Haldane silver project is located within Yukon’s prolific Keno Hill mining district. The Keno Hill district is Canada’s second-largest silver producer and one of the world’s highest-grade silver camps. Between 1913 and 1989, the district generated over 217 M oz of silver with average production grades of 1,149 g/t silver (37 oz/t), 5.62 percent lead and 3.14 percent zinc.

Alianza’s wholly owned Haldane project has seen over 100 years of mining and exploration interest. From 1918 to 2018, sporadic work programs targeted select areas of the property for high-grade silver, tin and later gold. Despite strong indicators of high-grade silver mineralization, much of the property remains underexplored with significant potential at depth, on strike and in newly discovered vein systems. Alianza’s approach when it acquired the project in 2018 was to step back and assess the entire property for its potential to host additional high-grade silver targets for testing. The Haldane project benefits significantly from a mining-friendly jurisdiction and thorough road accessibility.

alianza haldane map

In 2018, the company performed property-wide mapping and geochemical sampling to identify high-value targets in areas of the property where little-to-no prior exploration had investigated its silver potential. In 2019, the first hole was drilled within the newly discovered Bighorn zone intersecting multiple vein structures and Keno-style silver-lead mineralization. Other zones of interest within the historically mined Mt. Haldane Vein System (MHVS) include the Middlecoff zone, which includes 235 meters of strike-length on a mineralized structure that has yielded 24.7 tons of silver at 3,102 g/t and 59 percent lead almost a century ago. With only 17 surface holes drilled to-date on the entire property, the potential for an additional high-grade discovery similar to the new Bighorn zone remains significantly high.

Two other primary assets held by Alianza include the Tim silver project in Yukon and the Twin Canyon gold project in Colorado. The company’s Tim property hosts high-grade silver mineralization at surface, with historic trenching sample results of 10.28 oz/t silver and 9.12 percent lead. Alianza has partnered with Coeur Mining (NYSE:CDE), and the project is located a short 12 kilometers from Coeur’s prolific Silvertip mine.

The Company’s Twin Canyon gold project is located in the past-producing La Plata district of southwestern Colorado. The Twin Canyon property hosts a series of underground workings that date back to the 1980s and 1990s. Historic sampling yielded gold values up to 15.77 g/t gold. After a successful field campaign, Alianza staked additional claims to expand the property and more recently launched a follow-up exploration program involving detailed prospecting and geological mapping within areas of gold soil anomalies.

The company recently closed $3.2 million in financing originally announced near the end of September. Jason Weber, president and CEO of Alianza, commented, “This financing gives us the ability to not only complete our ongoing Haldane drilling program, but also the flexibility to follow up results from this program and test new targets as early as we can get started in 2021.”

The company’s technical team has had extensive experience with exploration and resource development with a specialization in early-stage exploration and project generation. Alianza has formed strategic partnerships with Coeur Mining, Hochschild Mining (LSE:HOC), Equity Exploration Consultants Ltd and Big Rock Exploration Ltd.

Alianza Minerals’ Company Highlights

  • Focused on making a discovery through strategic exploration in stable jurisdictions: the company currently holds royalties and projects in Peru, Nevada, Yukon and three Mexico royalties.
  • Recently closed $3.2 million in financing and is fully funded until the end of 2021.
  • The company’s wholly owned flagship Haldane silver project is in the Yukon’s prolific Keno Hill district, one of the world’s highest-grade silver camps. Historically, Keno Hill has produced over 217 million oz of silver.
  • Two of the company’s other projects include the Tim silver project in Yukon and the Twin Canyon gold project in Colorado.
  • The company’s Tim property hosts high-grade silver mineralization at surface while the Twin Canyon property hosts a series of underground workings dating back to the 1980s and 1990s. Historic sampling yielded gold grades of up to 15.77 g/t.
  • All three of the company’s project areas benefit from significant infrastructure and exceptional road access.

Alianza Minerals’ Key Projects

Haldane Silver Project, Keno Hill District, Yukon

The company’s wholly owned Haldane project is located in an underexplored, high-grade silver region of the historic Keno Hill mining district. The property encompasses 8,579 hectares of tenure hosting structurally controlled silver veins within Central Yukon. Between 1913 and 1989, the Keno Hill silver deposits produced over 200 million ounces of silver. Keno Hill remains one of the highest-grade silver districts in the world.

In 2018, Alianza identified two new soil anomalies, validating the technical team’s prediction that additional Keno District-style silver-bearing veins may be present on the property. A 2019 exploration program focused on the Ross, Bighorn and Middlecoff targets, resulting in the discovery of silver-lead vein mineralization at the newly-minted Bighorn Zone and additional high-grade silver intersections at the promising Middlecoff Zone.

bighorn results

The company has already initiated phase one of a drilling program, which includes a total of 10 holes. The initial phase of drilling will target the West Fault and Middlecoff areas. In 2011, a previous operator intersected mineralization at the West Fault, returning 320 g/t silver, 1.1 g/t gold and 0.7 percent lead over 2.2 meters. The Phase One program will also return to the Middlecoff zone, where drilling in 2019 intersected 455 g/t silver over 1.02 meters and 996 g/t silver, 1.486 g/t gold and 28.35 percent lead over 0.35 meters.

Phase Two of the drilling program is expected to begin in the spring of 2021 and will further target both the West Fault and Middlecoff veins, in addition to the recently discovered Bighorn zone, from which the first and only hole revealed 2.35 meters of 125 g/t silver at 4.39 percent lead, in addition to three other silver-lead bearing veins.

Tim Project, Silver, Yukon

The Tim property includes 72 mineral claims located 72 kilometers west of Watson Lake, Yukon. Alianza’s experienced technical team believes the property hosts a carbonate replacement-manto style deposit, similar in nature to the nearby Silvertip mine owned and operated by Coeur Mining. Historic trench chip samples returned 352.4 g/t silver and 9.12 percent lead over 4 meters. Two grab samples taken from another trench indicated 1,248.1 g/t silver at 49.5 percent lead and 978 g/t silver at 32 percent lead. Confirmation sampling by Alianza returned 6.4 meters of 220 g/t silver and 4.74 percent lead, confirming the historic results.

The Tim project is optioned to Coeur Mining, who can earn an 80 percent interest by completing $3.5 million in exploration expenditures over five years, making cash payments of $575,000 to Alianza and completing a feasibility study by the eighth anniversary.

Twin Canyon Gold Project, Colorado

The company’s Twin Canyon project is located in the prolific La Plata district of Southwestern Colorado. The property is a sandstone-hosted gold prospect situated roughly 20 kilometers from the town of Mancos. The project benefits from exceptional road accessibility and a series of underground workings dating back to the 1980s and 1990s.

In June 2020, Alianza acquired a lease on the property to explore its potential for widespread gold mineralization. Channel samples of workings from a 1986 program report indicated up to 8.1 g/t gold over 3 meters. Highlights of the summer 2020 program include a 4 km² expansion and definition of a large gold-in-soil anomaly ranging from 20 to 460 parts per billion gold—measuring over 1,900 meters long by 100 meters wide—in addition to new gold-bearing outcrops associated with anomalous soil geochemistry.

Following a successful field program at Twin Canyon, the company recently launched a follow-up exploration program. The current program includes detailed prospecting and geologic mapping within areas of gold soil anomalies.

Alianza Minerals’ Management Team

Jason Weber, P.Geo.—President, CEO and Director

Weber is a geologist with over 25 years of experience in the minerals exploration industry. He most recently held the position of President and CEO of Kiska Metals Corporation, a junior exploration company focused on the exploration and development of the Whistler gold-copper porphyry project in Alaska. Weber was President and CEO of Rimfire Minerals Corporation from 2007 to 2009 when Rimfire merged with Geoinformatics to create Kiska. He initially joined Rimfire in 1999 as Manager of Corporate Communications. Prior to Rimfire, Weber was engaged by Equity Engineering as a project geologist working on projects in Canada and Central America. He was also the President and CEO of Estrella Gold and has board and advisor positions with a number of junior resource companies

Rob Duncan—VP of Exploration

Duncan has over 25 years of experience in mineral exploration with a wide range of companies, from major producers such as Rio Tinto and Inmet Mining to junior explorers. He has held senior management positions at several junior explorers exploring throughout the North American Cordillera, Canadian Shield and Eastern Europe on a wide variety of deposit types including orogenic gold, porphyry copper (gold), VMS, intrusion related gold, and epithermal gold-silver systems. He also has over ten years of management experience specifically with prospect generator companies, having held the position of Exploration Manager at Rimfire Minerals and VP Exploration and Project Development at Evrim Resources.

John R. Wilson—Director

Wilson has over 40 years of experience and success in all aspects of base and precious metals exploration, discovery, reserve definition and mine development. His work has included discoveries in Brazil, Nevada and Peru. He has also performed detailed evaluations of numerous deposits and prospect types in varying geological settings throughout the western U.S., Russia, Chile, Peru, Brazil, Mexico, Central America and Asia. His work for Cyprus Minerals Company, Codelco Corporation, Amoco, AMAX Mining Corporation and Essex has ranged from initial prospect evaluation to the design and management of regional exploration, deposit modeling and development programs.

Marc G. Blythe—Director

Marc Blythe has a Master of Business Administration from La Trobe University in Melbourne and a Bachelor of Mining Engineering degree from the Western Australian School of Mines. Blythe was Vice President, Mining, of Almaden Minerals Ltd from 2006 to 2011 and President and CEO of Tarsis Resources Ltd. He was also the Vice President of Corporate Development at Nevsun Resources Ltd. Prior to that he was Corporate Senior Mining Engineer for Placer Dome Inc. based in Vancouver from 2004 until 2006, at which he completed internal and external mine evaluation, including advising on potential acquisitions and mining technology implementation.

Craig Lindsay—Director

Craig Lindsay has in excess of 25 years’ experience in corporate finance, investment banking and business development. His focus has been on mineral resources in the western United States. He is currently the Managing Director of Arbutus Grove Capital Corp., a private company offering corporate finance and merchant banking services. He was the Founder, President and CEO of Otis Gold Corp. until its sale to Excellon Resources Inc. (TSX) in 2020. Lindsay was also a Founder and President of Magnum Uranium Corp. until its merger with Energy Fuels Inc.(TSX: EFR in June 2009). As well, Lindsay was a Vice President in the Corporate Finance and Investment Banking Group at PricewaterhouseCoopers LLP. Lindsay was Founder of Malaspina Capital Ltd., a junior capital pool company, and was responsible for identifying its merger with Miranda Mining Corp (a Mexican-based gold producer that was subsequently acquired by Wheaton River Minerals).

Mark T. Brown—Executive Chairman

Mark Brown obtained his Chartered Accountant designation in 1993 while working with PriceWaterhouseCoopers in Vancouver, BC, Canada. Brown has lead the financial aspects of Alianza Minerals Ltd. since 2007, including financing, regulatory and reporting issues. Before Alianza, Brown was the controller of two operating gold mining companies with operations in northern Canada and South America. Brown leads a team of eight people in the Vancouver office of Pacific Opportunity Capital Ltd. and was the founder of Rare Element Resources Ltd., which became a $500 million company under his tenure.

Winnie Wong—CFO

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