Alianza Leases Ashby Property to Nevada Canyon Gold
VANCOUVER, British Columbia, Aug.09, 2017(GLOBE NEWSWIRE) -- Alianza Minerals Ltd. (TSX-V:ANZ) ("Alianza" or the "Company") has leased the Ashby gold property to Nevada Canyon Gold Corp. ("Nevada Canyon"). The Ashby Property is located in Nevada's Walker Lane Mineral Belt, 21 km southeast of Hawthorne, in Mineral County.
Under the terms of the Agreement, Nevada Canyon made a US$1,000 payment on signing, will make annual payments of US$2,000 and will grant a 2% Net Smelter Royalty ("NSR") on future production from the Lazy 1-3 claims comprising the Ashby Property. Nevada Canyon will also be responsible for all claim fees and certain reclamation work to be undertaken on the property. The initial term of the lease is 10 years and can be extended for an additional 20 years.
"The Ashby lease allows Nevada Canyon to advance exploration of its larger claim package in the area in a coherent manner, giving Alianza greater ability to focus on its sediment-hosted targets at Horsethief, Bellview and BP," stated Jason Weber, P.Geo., President and CEO of Alianza Minerals."We expect this will be one of a number of agreements with new partners in the coming months."
Activity at Ashby dates back to the 1930's when 9,000 ounces of gold was recovered from quartz veins in 10 shafts at the Lazy Man Mine. A few hundred ounces of gold per year was also recovered in the 1970's and 1980's from another shaft 120 metres in depth. Subsequent work identified the potential for additional veining and mineralization in the vicinity of the historic workings. Nevada Canyon's initial work, part of its larger Garfield Flats exploration program, will consist of reconnaissance prospecting, geological mapping, review of the historic workings and a follow up geophysics survey. This initial reconnaissance program will provide accurate modern data to assist in the planning of the Phase II drill program.
About Alianza Minerals Ltd.
Alianza has a portfolio of prospective base and precious metals exploration properties and royalties in Peru, Mexico, Nevada, USA and Yukon Territory. Currently, the company is focussing efforts at its Horsethief sediment-hosted gold project in southeast Nevada and newly acquired zinc targets in central Peru.
The Company has 33.3 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX-V:ANZ). Mr. Jason Weber, BSc, P.Geo., Alianza's President and CEO 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) 687-3520
Fax: (888) 889-4874
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.