Feb. 10, 2011 (TheNewswire.ca) --
Alliance Mining Corp, is pleased to announce that Geotech Ltd. of Aurora Ontario has been retained to conduct a heli-borne geophysical survey. The objectives of the survey are to assist the company in defining structures to depth and define drill targets.
The survey will also assist the company in determining if in fact the structures and mineralization continues from the previously operating Copper Mines located at either end of Alliance's properties, these past producers were closed due to low copper prices . Currently one of the adjacent past producing copper porphyry mines, is being privately advanced to feasibility. The geology at surface appears to be similar in nature and during a recent field trip in late January 2011 the company conducted a broad sampling program, and results are expected shortly.
Alliance will continue to be focused on advancing and developing its precious metal assets but has decided to also take a broader look at the overall potential of a Copper-Gold porphyry system. The company also intends to evaluate potential for lead, zinc and manganese.
Alliance has chosen Geotech's award winning "Versatile Time-Domain Electromagnetic" (VTEM) system. The VTEM system is currently one of the most advanced airborne geophysical technologies in use by the mineral exploration industry.
The Airborne survey will fly approximately 350 line kilometers on selected mineral properties within the Company's Placerita Project, which consist of numerous properties within a twenty-five mile radius in Yavapai County, Arizona..
The Company has granted incentive stock options to consultants to purchase an aggregate of 450,000 common shares in the capital of the Company, exercisable at a price of $0.15 per share for a period of two years.
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
(250) 319-4793
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. This includes statements concerning the Company's plans at its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits (OOTC:MNLDF) , the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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