Alianza Signs Option Agreement with Coeur to explore the Tim High-Grade Silver-Lead-Zinc Property, Yukon
January 27 2020 - 8:00AM
Alianza Minerals Ltd. (
TSX-V: ANZ, OTC:
TARSF) (“
Alianza” or the
“Company”) has signed the Option Agreement
relating to a Letter of Intent with a wholly owned subsidiary of
Coeur Mining, Inc. (NYSE:CDE) (“Coeur”), to explore the
road-accessible Tim Property (“Tim” or the “Property”) in the
southern Yukon Territory. Exploration at Tim is targeting
high-grade silver-lead mineralization similar to that being mined
by Coeur at its Silvertip operation, located 12 kilometers south of
the Property.
Coeur can earn an 80% interest in the Property by (i) funding
$3.55 million in exploration over five years and (ii) making
scheduled cash payments totalling $575,000 over eight years. Coeur
must also fund a feasibility study and notify Alianza of its
intention to develop a commercial mine on the property on or before
the 8th anniversary from the date of notification of the class 1
exploration permit.
“We are very pleased to have partnered with Coeur to advance the
Tim Silver Property,” stated Jason Weber, President and CEO of
Alianza Minerals. “Tim looks to be a Silvertip analog, and the
Coeur team is an obvious choice to move the project forward. It
will be a great advantage to have Coeur’s geological expertise
applied to the project.”
The 2020 exploration program at Tim is expected to target
high-grade silver-lead-zinc Carbonate Replacement Mineralization
(“CRM”), similar to that found at Coeur’s Silvertip operation.
Coeur’s tentative exploration plans are in-line with those recently
announced by Alianza, and will consist of detailed mapping, soil
geochemical surveys and reopening old trenches, which date back to
1988.
Tim Property – History
In 2013, Alianza completed a focused work program and
re-evaluated a historical zone of silver-lead rich Carbonate
Replacement Mineralization (CRM) originally exposed by mechanized
trenching in 1988. Historical chip sampling across the zone
returned 352 g/t silver and 9.12% lead across 4.00 metres. In
addition to this exposure, similar mineralization was also reported
in adjacent trenches 180 and 250 metres on either side of the
central trench. This zone has never been tested with drilling.
Alianza resampled the central trench in 2013, returning 3.7 metres
assaying 365 g/t silver and 7.5% lead from a channel sample.
About Alianza Minerals Ltd.
Alianza employs an exploration 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, Nevada
and Peru. Alianza currently has two projects optioned out in Nevada
and Yukon Territory, and is actively exploring on two others.
Alianza’s current partners include Hochschild Mining PLC and Coeur
Mining, Inc.
The Company has 82.4 million shares issued and
outstanding and is listed on the TSX Venture Exchange under the
symbol “ANZ” and trades on the OTC 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 CEOSandrine Lam, Shareholder Communications Tel:
(604) 687-3520
Fax: (888) 889-4874 Renmark Financial Communications
Inc.Melanie Barbeau mbarbeau@renmarkfinancial.comTel: (416)
644-2020 or (514)
939-3989www.renmarkfinancial.com To
learn more visit: www.alianzaminerals.com |
|
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