(TheNewswire)
Vancouver, BC – TheNewswire - February 3, 2023 - Alianza Minerals Ltd.(“Alianza”) (TSXV:ANZ ) , ( OTC:TARSF) announcesthat it received notice from option partner, Allied Copper Corp.(“Allied”), that Allied is terminating its optio n on the Klondike Copper Property in southwestColorado, effective February 2, 2023.
About the Klondike CopperProperty
A 2022 drilling campaign at Klondike identified high grade coppermineralization on an interpreted splay off of the main West GrabenFault target (4.26% copper over 1.06 metres at 45 metres depth).Drilling in 2022 did not reach the main strand of the West GrabenFault, and it remains a priority target for copper mineralization atKlondike.
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, located 50km to the northwest.
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.
Alianza holds the Klondike Property within its Southwest CopperAlliance with Cloudbreak Discovery PLC (the “Alliance”) where eachparty holds a 50% ownership in the property. Together the Alliancewill seek a new partner to conduct follow-up drilling.
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’s primary asset is the Haldanesilver project and also currently has gold, silver and base metalprojects in Yukon Territory, Colorado, Nevada and Peru. Alianza hasone project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc.and one optioned to Allied Copper within an alliance with CloudbreakDiscovery PLC. Alianza is actively seeking partners on other projects.Alianza also holds certain royalties on projects in North and SouthAmerica.
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.
About the Strategic Alliance
Under the terms of the Alliance, either Cloudbreak Discovery PLC orAlianza Minerals Ltd can introduce projects to the Alliance. Projectsaccepted into the Alliance will be held 50/50 but funding of theinitial acquisition and any preliminary work programs will be funded40% by the introducing partner and 60% by the other party. Projectexpenditures are determined by committee, consisting of two seniormanagement personnel from each party. Alianza is the operator ofAlliance projects unless the Alliance steering committee determines,on a case-by-case basis, that Cloudbreak would be a more suitableoperator. The initial term of the Alliance runs for two years and maybe extended for an additional two years.
For further information,contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.alianzaminerals.com
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NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'SFUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDEFORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ONNUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS ANDUNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS ARESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
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