Drill Targets Identified at Horsethief Property, NV
10 Julio 2017 - 8:00AM
Alianza Minerals Ltd. (TSX-V:ANZ)
(“
Alianza” or the
“Company”)
reports that preparations are underway for a diamond drilling
program at the Company’s wholly-owned Horsethief gold property in
eastern Nevada. Plans are for a minimum 1,500 metre (m) reverse
circulation (RC) drilling program to test multiple targets on the
525 hectare (1299 acre) property. This includes new targets
identified from geophysical and structural interpretation completed
in conjunction with recent field programs. The Horsethief Property
is a sediment-hosted gold prospect located 16 miles east of Pioche,
in Lincoln County, NV.
Jason Weber, P.Geo., President and CEO of
Alianza stated, “We are very encouraged by the targets we have
developed at Horsethief. Our interpretation of the structural,
geological and geophysical data indicates that the prospective
stratigraphy is much more extensive under the volcanic cover on the
eastern half of the property. Drilling will test whether these
buried targets may be the source for alteration and mineralization
observed at surface.”
Exploration at Horsethief is targeting
sediment-hosted gold mineralization in a window of Cambrian
carbonate rocks overlain by Tertiary volcanic flow and pyroclastic
rocks. Work by prior operators included mapping and sampling
hematite-rich jasperoid breccia outcrops as well as shallow RC
drilling. Historic drilling, generally 100 metres or less in depth,
returned multiple intervals of gold mineralization including
13.7 metres averaging 1.2 g/t gold and
39.6 metres averaging 0.79 g/t gold with four
holes terminating in mineralization. Gold mineralization was hosted
in both silty limestone and jasperoid. A 2011 Induced Polarization
(IP) geophysical survey indicates that stratigraphy and potentially
mineralized targets dip to the east-southeast under the volcanic
cover.
In addition to recently-identified surficial
targets, a compilation of IP chargeability and resistivity data in
conjunction with an updated structural interpretation has
identified several buried targets that warrant drill testing.
Drilling will target areas of coincident chargeability and
resistivity anomalies, thought to represent potential
mineralization (chargeability) in the carbonate stratigraphy
(resistivity) at depth. Multiple areas with potential for gold
deposition to occur are thought to exist, including at or near the
contact between carbonate stratigraphy and overlying volcanic
rocks, along favourable horizons within the carbonate stratigraphy
and along fault structures. A brief summary of the targets follows
and figures illustrating the targets can be found on the Company’s
website www.alianzaminerals.com.
Horsethief North – A large
jasperoid breccia exposure, 900 by 150 metres in size, at the
contact of carbonate rocks and overlying volcanic rocks. A surface
rock sample assayed 21.94 g/t gold. Three historic holes ended in
mineralization at shallow depths and one hole intersected 39.6 m of
0.79 g/t gold. This target may represent an uplifted block of
deeper jasperoid mineralization targeted elsewhere on the
property.
Thoroughbred – This area is
located 250 metres south of the Horsethief North, and may be an
extension of that target. It consists of jasperoid on surface
overlying a buried 500-metre diameter chargeability high anomaly.
This area exhibits a high degree of structural complexity.
Horsethief South/Mustang –
Mustang is large chargeability/coincident resistivity anomaly at
depth that is the proposed source for gold bearing jasperoid on
surface at the Horsethief South area. Historic drilling yielded a
6.1 metre intersection that averaged 1.22 g/t gold. The
chargeability anomaly measures 1,000 by 800 metres in size.
Stallion Target – Stallion is a
newly defined surficial target identified in 2017. Jasperoid
outcrops with anomalous pathfinder element geochemistry are
underlain by resistivity and chargeability (500 by 750 m)
anomalies. The geophysical anomalies may represent the source for
surface jasperoid exposures.
Clydesdale Target – The target
consists of a 250 metre-diameter IP chargeability anomaly
associated with a northeast structure in the southern portion of
the property.
Management will start the permitting process
shortly, with the goal of completing drilling in the fall of
2017.
About Alianza Minerals Ltd.
Alianza increases the chances of success in
mineral exploration by using the “Prospect Generator” business
model, focussing on gold and copper exploration in Latin America
and Nevada.
The Company has 33.3 million shares issued and
outstanding, and is listed on the TSX Venture Exchange (TSX-V:ANZ).
Mr. Jason Weber, BSc, P.Geo., Alianza’s President and CEO is
a Qualified Person as defined by National Instrument 43-101. Mr.
Weber supervised the preparation of the technical information
contained in this release.
NEITHER THE 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. Statements in this NEWS release, other
than purely historical information, including statements relating
to the Company's future plans and objectives or expected results,
may include forward-looking statements. Forward-looking statements
are based on numerous assumptions and are subject to all of the
risks and uncertainties inherent in resource exploration and
development. As a result, actual results may vary materially from
those described in the forward-looking statements.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 687-3520
Fax: (888) 889-4874
To learn more visit: www.alianzaminerals.com
Alianza Minerals (TSXV:ANZ)
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