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Alianza Minerals Signs Option Agreement with Coeur Mining to explore the Tim High-Grade Silver-Lead-Zinc Property, Yukon
High-grade silver mineralization in historic trenches Detailed mapping, trenching and soils program for 2020 Tim Project is 12 kilometers from Coeur’s Silvertip
About this update from Silver North Resources Ltd.
[{"type":"text","content":" High-grade silver mineralization in historic trenches Detailed mapping, trenching and soils program for 2020 Tim Project is 12 kilometers from Coeur’s Silvertip Mine VANCOUVER, British Columbia, Jan. 27, 2020 (GLOBE NEWSWIRE) -- Alianza Minerals Ltd. (TSX-V: ANZ, OTC: TARSF) (“Alianza” or the “Company”) has signed the Option Agreement relating to a Letter of Intent with a wholly owned subsidiary of Coeur Mining, Inc. (NYSE:CDE) (“Coeur”), to explore the road-accessible Tim Property (“Tim” or the “Property”) in the southern Yukon Territory. Exploration at Tim is targeting high-grade silver-lead mineralization similar to that being mined by Coeur at its Silvertip operation, located 12 kilometers south of the Property. Coeur can earn an 80% interest in the Property by (i) funding $3.55 million in exploration over five years and (ii) making scheduled cash payments totalling $575,000 over eight years. Coeur must also fund a feasibility study and notify Alianza of its intention to develop a commercial mine on the property on or before the 8th anniversary from the date of notification of the class 1 exploration permit. “We are very pleased to have partnered with Coeur to advance the Tim Silver 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 2020 exploration program at Tim is expected to target high-grade silver-lead-zinc Carbonate Replacement Mineralization (“CRM”), similar to that found at Coeur’s Silvertip operation. Coeur’s tentative exploration plans are in-line with those recently announced by Alianza, and will consist of detailed mapping, soil geochemical surveys and reopening old trenches, which date back to 1988. Tim Property – History In 2013, Alianza completed a focused work program and re-evaluated a historical zone of silver-lead rich Carbonate Replacement Mineralization (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 t...