Vancouver, British Columbia (FSCwire) - Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) is pleased to announce results from their winter drilling program on the Packsack claim group, part of the Red Rice Lake gold project. The objectives of the program and character of the mineralized zones intersected have been described in Alliance news releases dated April 26, March 27 and March 15, 2018. The program was completed with four NQ drill holes totaling 793 meters. All technical objectives of the program were accomplished. Significant assay results are tabulated below.

 

Packsack Drill Results from March, 2018, Drilling
Hole #	From (m)	To (m)	Width (m)	Zone/Vein	Au (g/t)
PK-18-2	113.85	122.95	9.10	Mafic Dike Zone	0.45
including	119.00	120.22	1.22	Hargrave Vein	2.33
PK-18-4	56.50	77.68	21.18	Mafic Dike Zone	0.86
including	56.80	65.53	8.73	Big Dome Vein	1.78
including	62.58	63.96	1.38	Big Dome Vein	4.02

Gold mineralization on the Packsack property is occurring in quartz-ankerite-tourmaline-pyrite veins associated with late quartz-feldspar porphyry dikes within a sericite alteration envelope, all within a large, early, cross-cutting mafic dike. “This drill program was targeted mainly on the Big Dome vein, which was explored by underground development in the 1930s,” said Consulting Geologist William Hood, “but I’ll be suggesting a re-interpretation of the Packsack property toward a larger-tonnage, lower-grade open-pittable style of mineralization.” “We may want to view the entire Packsack group of veins, including the Big Dome, Hargraves, Golden Stairway, Central Montcalm and South Montcalm veins, all within a larger mineralized alteration envelope.”

 

Drill hole PK-18-1 was not cased to bedrock when unexpectedly deep overburden was encountered along the Red Rice topographic lineament. Drill hole PK-18-3 was drilled to the east of the Packsack veins and did not intersect the cross-cutting Mafic Dike Zone. True widths based on core angles on veins were in the 50% to 60% range, however the orientation of the overall mineralized envelope may not coincide with the orientation of the veins within that zone.

 

“We are pleased with this initial drill test on the Packsack claims,” stated Alliance President Christopher Anderson, “and we now have excellent data to move forward with a re-interpretation of the Packsack mineralization. With substantial mill capacity available only a few kilometers away, this is an opportune time to explore and develop gold deposits in the Rice Lake belt.”

 

Alliance will be undertaking a summer work program of geologic mapping and geophysics to refine targets for a more substantial drill program along the Red Rice Lake structure.   

 

QA/QC/QP: The drilling (NQ core) was completed by Wynne Mining Services Ltd. Drill core samples were cut by diamond saw, with half of the core retained at core storage facilities in Bissett, Manitoba. Samples ranged from 0.3 to 1.8 meter intervals. Standards and blanks were inserted in the sample stream at regular intervals. Samples were shipped to ALS Global in North Vancouver, BC, an accredited laboratory. Fire assay techniques Au-AA23 (30g) and Au-AA24 (50g) were utilized, depending on sample.

 

All technical information in this release has been reviewed and approved by William C. Hood, P.Geo, who is the Qualified Person on the Red Rice Lake gold project for the Company.  

 

ON BEHALF OF THE BOARD

 

“Christopher Anderson”

 President, CEO and Director

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Alliance Mining Corp.

(604) 488-3900

 

Investor Relations:

Antony Claydon: 604-445-5421

E-mail: ir@alliancemining.com

 

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions. Neither 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.

 

Alliance Mining Corp.

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

To view the original release, please click here

Source: Alliance Mining Corp. (TSX Venture:ALM)

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