Feb. 24, 2011 (TheNewswire.ca) --
Alliance Mining Corp, is pleased to announce assay results from a broad sampling program completed in January 2011 on its Placerita Project located in Yavapai County, Arizona. The focus of the program was to acquire representative samples from various historic mine workings, where accessible, on the property to assess their potential for gold, silver and copper deposits.
Some highlights of the assay results received are as follows:
----------------------------------------------- |Mine workings|Sample #|Au g/ton|Ag g/ton|Cu %| |---------------------------------------------| |Silver Crown |4 |1.07 |6.71 |1.09| |---------------------------------------------| |Gold Beetle |8 |7.97 |1.10 |0.03| |---------------------------------------------| |Gold Beetle |10 |72.5 |3.10 |0.07| |---------------------------------------------| |Golden Eagle |12 |14.8 |6.30 |0.13| |---------------------------------------------| |Gold Pit |17 |25.5 |104.00 |0.03| -----------------------------------------------
Several of the high grade gold and silver values are interpreted as being related to two past producing copper porphyry mines which lie adjacent to the Alliance properties. All samples taken were over a minimum of 2 meters across silicified shear zones and quartz veins. The results indicate the potential for high grade gold and silver deposits as well as copper porphyry deposits. Plans are underway to conduct a systematic mapping and sampling program over the various properties. Further exploration will also target manganese, lead and zinc potential on the property as some assays returned values as high as 5,060 ppm manganese, 8.85% lead and 2,548 ppm zinc.
Most of the mines sampled have been closed since the 1940's due to the war powers act of 1942. Since that time, very little exploration activity has been conducted in the area. Over the last eight years, Alliance has been focused on acquiring the best prospects in the region and consolidating them into contiguous claim blocks. The region was Arizona's most active historical mining area .
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 is pleased to announce the appointment of Patrick Forseille as director and chief financial officer. Mr. Forseille is a professional geoscientist with an accounting background. He has over 20 years experience in exploration and corporate finance. We thank William Wilson for his services as our past CFO, who will remain on our board of Directors.
About Alliance:
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 whom have experienced gold and silver production in the past century. The company plans to take these properties to the next stage of exploration and development using modern techniques unavailable to earlier miners. An extensive exploration program is being planned for these precious metal assets in 2011, along with a strong emphasis on increasing shareholder value and liquidity.
ON BEHALF OF THE BOARD
"Jan C. Ross"
Mr. Jan C. Ross, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Jan C. Ross, President and CEO
Vancouver office 604-628-6645
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