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Alianza Minerals Options Three Nevada Properties to Hochschild Mining
Horsethief, Bellview and BP sediment-hosted gold properties Potential US$11 million in exploration expenditures over 5.5 years Drilling planned at Horsethief in
About this update from Silver North Resources Ltd.
[{"type":"text","content":" Horsethief, Bellview and BP sediment-hosted gold properties Potential US$11 million in exploration expenditures over 5.5 years Drilling planned at Horsethief in 2019 VANCOUVER, British Columbia, March 04, 2019 (GLOBE NEWSWIRE) -- Alianza Minerals Ltd. (TSX-V: ANZ) (“Alianza” or the “Company”) reports that Hochschild Mining (US), Inc, a subsidiary of Hochschild Mining PLC (“Hochschild”, LSE:HOC) has optioned three Nevada sediment-hosted gold properties from Alianza. The BP and Bellview properties are located in the southern extension of the Carlin Trend, while the Horsethief property represents an off-trend gold target located 26 km east of Pioche, NV. Hochschild can earn a 60% interest in each property by making exploration expenditures (a) over 4.5 years totalling US$2.5 million at BP and totalling US$3.5 million at Bellview and (b) over 5.5 years totaling US$5 million at Horsethief. Under these agreements, the 2019 exploration programs will total at least US$700,000 as a firm commitment from Hochschild and will include drilling at Horsethief and drill target identification and definition at BP and Bellview. “We are extremely happy to form this partnership with Hochschild,” stated Jason Weber, P.Geo, president and CEO of Alianza. “We look forward to working with the Hochschild team as we advance these properties, including our first drill test of Horsethief.” The Properties HorsethiefExploration at Horsethief is targeting sediment-hosted gold mineralization in a window of Cambrian carbonate rocks overlain by volcanic flows and pyroclastics. Work by prior operators included mapping and sampling hematite-rich jasperoid breccia outcrops and shallow drilling. Historic drilling, generally 100 metres or less in depth, returned multiple intervals of gold mineralization including 13.7 metres averaging 1.2 g/t gold and 39.6 metres averaging 0.79 g/t gold with four holes terminating in mineralization. Subsequent geophysical surveys (Induced Polarization chargeability and resistivity) indicate that stratigraphy and potentially mineralized targets dip to the east under the volcanic cover and below the extent of prior drilling. Bellview PropertyThe Bellview property is located in White Pine County, 85 km south of Elko, Nevada and 13 km north of the Bald Mountain Gold Mine on the southern extension of the Carlin Trend. Bellview features a g...