Alianza options 80% of Tim to Coeur Explorations
2019-06-20 09:27 ET - News Release
Mr. Jason Weber reports
ALIANZA SIGNS LETTER OF INTENT WITH COEUR TO EXPLORE THE TIM HIGH-GRADE SILVER-LEAD-ZINC PROPERTY, YUKON
Alianza Minerals Ltd. has signed a letter of intent with Coeur Explorations Inc., a wholly owned subsidiary of Coeur Mining Inc., to explore the road-accessible Tim property in southern Yukon. Exploration at the Tim Property is targeting high-grade silver-lead-zinc mineralization similar to that being mined by Coeur at its Silvertip mine located 12 km to the south of the Tim Property.
Coeur can earn a 51% interest in the property by funding $3.5 million in exploration over 5 years and making staged cash payments totalling $275,000. Coeur can elect to complete the option to earn 80% in the property by funding a positive feasibility study in the following three years and making annual payments of $100,000.
"We are very pleased to have partnered with Coeur to advance the Tim 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 2019 exploration program at the Tim Property will target high-grade silver-lead-zinc carbonate replacement mineralization ("CRM") similar in style to that found at Silvertip. Coeur's tentative plans are similar to those recently announced by the Company and will consist of detailed mapping, soil geochemical surveys and reopening old trenches dating back to 1988.
Tim Property -- History
In 2013, Alianza's predecessor, Tarsis Resources Ltd. ("Tarsis") completed a focused work program to re-evaluate a historical zone of silver-lead-zinc rich 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. Tarsis 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 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, Nevada and Peru. Alianza currently has four projects optioned out in Nevada and Yukon Territory, and is actively exploring on two others. Alianza's current partners include Hochshild Mining PLC (LON: HOC) and Coeur Mining, Inc. (NYSE: CDE).
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.
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