VANCOUVER, BC / ACCESSWIRE / March 18, 2022 / Alliance Mining Corp. (TSXV:ALM) ("Alliance" or the "Company") is pleased to announce results from their Fall, 2021, prospecting and sampling program on their Red Rice Lake gold property in the Bissett-Rice Lake belt in south eastern Manitoba.
"We are very pleased with these initial results from the expanded Red Rice claim group," stated Alliance President Chris Anderson, "and we will have further announcements regarding exploration of the Fox vein in the very near future."
The sampling program was intended to determine exploration prospectivity and priority going forward on various veins and target zones within the recently expanded Red Rice Lake property. Sampled targets included the Fox, Wolf, Yankee Girl North, Gilbert, Clappalou, Elbow and CUPP vein systems.
Highlights from this program included 44.2 g/t from the Gilbert vein, 16.8 g/t from the Wolf vein, and 9.84 g/t from the Fox vein. Significant gold assay results are included in Table 1.
Table 1: Fall, 2021, Red Rice Lake Grab Samples | ||
Sample # | Vein | Au g/t |
RR-21-8 | Gilbert | 44.2 |
RR-21-14 | Fox | 6.69 |
RR-21-15 | Fox | 9.84 |
RR-21-16 | Fox | 9.36 |
RR-21-21 | Wolf | 16.8 |
Not surprisingly, the most consistent results were returned from the Fox vein, with all seven samples returning assays greater than 0.8 g/t. Both quartz vein material and silicified sericite schist wallrock from the Fox vein zone were determined to be mineralized. The Fox vein has had 54 drill holes since 1973 and will be a priority target going forward. Encouraging results were also returned from the Gilbert vein, located 1.5 km west of Red Rice Lake, and Wolf vein, located near the Fox vein, 1 km east of Red Rice Lake.
All samples in this work program were collected by William C. Hood. P.Geo. Samples were shipped to TSL Laboratories Inc (now Saskatchewan Research Council) in Saskatoon, Saskatchewan, an accredited laboratory. Samples were assayed by TSL's 30 g FA/ICP procedure, with gravimetric finish on samples returning greater than 3000 ppb Au.
All technical information in this release has been reviewed and approved by William C. Hood, P.Geo., who is the Qualified Person on the Red Rice Lake gold project for the company.
ON BEHALF OF THE BOARD
Chris Anderson
Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations: 604-488-3900
E-mail: [email protected]
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Alliance Mining Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Alliance Mining Corp.