(TheNewswire)
Vancouver, BC – TheNewswire - July 12, 2022 - Alianza Minerals Ltd.(“Alianza”) (TSXV:ANZ ) , ( OTC:TARSF) and Cloudbreak Discovery PLC (“Cloudbreak”)(LSE: CDL) (the “ Alliance ”) are pleased to announce that crews will bemobilizing in mid-July to the Klondike Copper property to complete thefirst modern drill test of the property, funded by partner Allied Copper Corp. (“Allied”) (TSX-V:CPR) , under the terms of its earn-in agreementwith the Alliance. Site and logistical preparation will becompleted prior to the drill arriving by late July. Currently, fiveholes are planned to test three target areas for a total of 1,000metres of drilling. The Klondike Property consists of 76 unpatentedmining claims, a State of Colorado Exploration Permit and an exclusiveright to a State lease.
“We are looking forward to testing the targets wehave prioritized at Klondike,” stated Rob Duncan, M.Sc., VicePresident, Exploration of Alianza. “Three excellent targets exist atthe Northeast Fault, West Graben and East Graben areas, each of whichshows multi-kilometre strike length potential for coppermineralization. This first phase of drilling is designed to make aninitial test of each of the three targets.”
Two holes are planned for the Northeast Fault target to test itspotential at depth to follow up a 4.6 m chip sample that averaged1.56% copper and 1.4 g/t silver in 2021 sampling. One hole will testthe East Graben Fault at depth, where surface sampling returned 2.8%copper with 37.8 g/t silver and 1.5% copper with 24.3 g/t silver. Twoholes will test the West Graben Fault, following up 2021 sampling thatreturned 6.23% copper and 127 g/t silver from a grab sample.
About the Klondike Property
The Klondike Property is located approximately 25 kilometres south ofNaturita, Colorado. This property lies within the Paradox Copper Belt,which includes the producing Lisbon Valley Mining Complex. Numeroushistorical copper occurrences have been identified throughout thedistrict, however, many of these have not been explored using modernexploration techniques.
A 2021 reconnaissance program consisting of mapping, stream sedimentsampling and rock sampling was undertaken at the Klondike Property tohelp define drill targets at the West Graben Fault and East GrabenFault targets. Rock sampling and mapping successfully expanded thefootprint of both targets and identified a new target named theNortheast Fault. Sampling at theNortheast Fault returned 1.56% copper and 1.4 grams per tonne(“g/t”) silver over a 4.6 metre chip sample of bleached, bitumenspotted and altered Jurassic sandstones of the Saltwash member of theMorrison Formation.
Copper mineralized sandstones at the Northeast Fault target can betraced along the fault and outboard from it into the adjacentsandstones over an area 200 metres long by 100 metres wide beforebecoming obscured beneath gravel cover. Further anomalous copper,including 2.1 metres of 463 ppm copper, was encountered over onekilometre to the northwest where the structure and host strata nextappear from beneath the same gravel cover.
At Klondike, documented copper exploration ceased in the 1960s withsubsequent exploration targeting uranium the 1970s. Previous workersreported high-grade copper mineralization highlighted by results of6.3% copper and 23.3 g/t silver in outcrop. In addition to itshigh-grade potential, disseminated copper-silver mineralization hasbeen observed which may be amenable to modern open pit mining withSolvent Extraction Electrowinning (“SXEW”) processing similar tothe Lisbon Valley Mining Complex. Sedimentary hosted copper depositsare an important contributor to world copper production, accountingfor more than 20% of the world’s copper supply annually.
The project is road accessible year-round, traveling two kilometres ofgravel road from paved highway. The project is comprised of 76 miningclaims on Federal mineral rights managed by the BLM, in addition to anExploration Permit and an exclusive right to a State lease from theState of Colorado.
Figure 1. Klondike Geology and Drill Plan with Copper Results
About the Strategic Alliance
U nder the terms of the Alliance, eitherCloudbreak Discovery PLC or Alianza Minerals Ltd can introduceprojects to the Alliance. Projects accepted into the Alliance will beheld 50/50 but funding of the initial acquisition and any preliminarywork programs will be funded 40% by the introducing partner and 60% bythe other party. Project expenditures are determined by committee,consisting of two senior management personnel from each party. Alianzais the operator of Alliance projects unless the Alliance steeringcommittee determines, on a case-by-case basis, that Cloudbreak wouldbe a more suitable operator. The initial term of the Alliance runs fortwo years and may be extended for an additional two years.
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC, is a leading natural resource projectgenerator, working across a wide array of mineral assets that arebeing developed and managed by an experienced team with a proven trackrecord. Value accretion within the projects being developed byCloudbreak’s generative model enables a multi-asset approach toinvesting and exploration. Diversification within the mining sectorand amongst resource classes is key to withstanding the cycles ofnatural resource investing.
About Allied Copper
Allied Copper Corp. is headquartered in Vancouver, BC Canada is amineral exploration company focused on acquiring and developingpotential long life, scalable copper-gold assets in the Western UnitedStates. The Company’s strategy is to focus on low cost and potentialhigh growth operations in low-risk jurisdictions. Allied Copper’smanagement is committed to operating efficiently and with transparencyin all areas of the business.
About Alianza Minerals Ltd.
Alianza employs a discovery-focused business model of joint venturefunding and self-funded projects to maximize opportunity forexploration success. The Company currently has gold, silver and basemetal projects in Yukon Territory, British Columbia, Colorado, Nevadaand Peru. Alianza has one project (Tim, Yukon Territory) optioned outto Coeur Mining, Inc. and is actively seeking partners on otherprojects.
Alianza is listed on the TSX Venture Exchange under the symbol“ANZ” and trades on the OTCQB market in the US under the symbol“TARSF”.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. isa Qualified Person as defined by National Instrument 43-101. Mr. Webersupervised the preparation of the technical information contained inthis release.
For further information,contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
Renmark Financial Communications Inc.
Scott Logan
slogan@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
To learn more visit: www.alianzaminerals.com
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