Alliance to Refocus on Arizona Gold-Silver-Copper Targets
To Begin Sampling and Mapping Program
Vancouver, British Columbia--(Newsfile Corp. - December 31, 2013) - ALLIANCE MINING CORP (TSXV: ALM), is pleased to announce that it plans a sampling and mapping over two areas of its 100% owned Placerita properties. The program will target the Silver Crown Mine and Gold Hill areas to determine targets for a future drill program. Alliance currently has over 3,000 acres under lease in the region and all lands are 100% owned.
The primary exploration play is to test extensions of the Silver Crown Mine which lies on a sericite schist belt adjacent to the Zonia Mine property which hosts a multibillion dollar copper deposit also hosted in a quartz sericite schist belt. The Silver Crown mine is a past productive silver, gold and copper underground mine that closed in the late 1960's due to unprofitability due to low metal prices. There is little information on the original mine workings, however, extensive underground and surface mining activity has been carried out since the time of the Spanish-Mexican occupation of Arizona. Intermittent small scale mining was done in the 1880's to 1904 and again in the 1920's. Activity resumed about 1957 by the Arizona-Michigan Mining Company who expended about $2.3 million in mine development, mill construction and drilling 27 diamond drill holes.
There was no further development until early 2011, when Alliance completed an airborne geophysical survey program over the Silver Crown and Placerita South claims adjacent to the Zonia mine. Three general trends within the geophysical data were noted for the Silver Crown area. Alliance has compiled all available historical data from drilling and development of the Silver Crown mine to incorporate it with the current geophysical data. Recent sampling on the exposed zones within adits returned assays of up to 1.07 grams per tonne gold, 230 grams per tonne silver, 1.09% copper and 8.8% lead.
The Gold Hill mine hosts extensive underground workings which have not yet been explored. The Mint Shaft mine lies about 1500 meters (1 mile) to the south west and Copper Basin mines are about 2 miles to the northeast. There is an un-named mine marked on the topographic map about a mile to the north. The history and mineralization of the Gold Hill mine are unknown at this time but is believed from the historical descriptions at hand to be pyritic disseminations in intrusive material of Tertiary or Cretaceous age. There are no surface geological maps at an adequate scale and continuity is unknown and must be determined with detailed mapping work.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
The Company also announces that it has granted options to purchase 1,000,000 shares to certain consultants and directors of the Company. The options shall be exercisable at a price of $00.05 per share and shall have a term of two years.
Alliance mining has been focused on acquiring and
delineating highly prospective gold and silver mineral properties in
Arizona's most prolific gold producing area - Yavapai County, located in
central Arizona. Over the past decade the company has built up an extensive
inventory of geologically significant properties, most of which have had gold
and silver production in the past century
ON BEHALF OF THE BOARD
"Travis Snider "
Mr. Travis Snider,
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
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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 press release, other than purely historical information, including statements relating to the Company's fu ture 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 resu lt, actual results may vary materially from those described in the forward-looking statements.