VANCOUVER, British Columbia, June 19, 2014 (GLOBE NEWSWIRE) -- ALLIANCE MINING CORP (TSX-V:ALM), is pleased to announce that it has filed a Plan of Operation (PoO) for Exploration at the Gold Hill Mine. The Gold Hill Mine is part of the Placerita West property within the Prescott National Forest.
The Company plans to drill 10 diamond core drill locations up to 200 feet deep. This will allow an initial look at the site and determine whether permitting for deeper holes are necessary. The current locations were identified due to anomalies identified from Aeromagnetic work conducted by the Company in 2011. ( Please See 43-101 filed June-7-2014). Two of the drill locations will twin 2 historic drill holes that were drilled but no records exist of the results. The additional 8 drill holes are to be drilled near shafts and adits of old mine sites which include the Gold Hill Mine, Shaft #1 & Shaft #2.
Placerita West consists of 70 unpatented lode mineral claims that amount to approximately 1400 acres. Placerita West is located in Townships 13N, Range 3W of Yavapai County, Arizona. The site has Infrastructure nearby and is in the rural area of the high deserts in central Arizona. The property has several past producing mines on site and is adjacent to the large past producing open pit, the Copper Basin Mine that is owned by Freeport-McMoRan Copper & Gold Inc. The Copper Basin Mine had historic productions of approximately 357,000 tons of ore that yielded approximately 19,631,000 lbs. of copper, 45,700 oz. of silver and 500 oz. of gold between 1901-1968 according to the Arizona Department of Mines and Minerals, Arizona Significant Deposits report.
PAST PRODUCING MINES
The Boston-Arizona mine is situated on the northern end of the company's Placerita West Property which is host to gold, silver, copper, zinc, and lead mineralization within an adit over 1000 feet long that was developed with several stations and drifts according to historic reports. The host rocks are porphyritic diorite and Yavapai schist, and the veins are intersected at right angles with porphyry dikes. Portions of the gossan vein zone were reported to be up to 125 feet wide from hanging wall to footwall. There are also local intrusive schist dikes about six feet wide.
The gossan zones exhibit abundant hematite, goethite, and limonite, and are typically silicified. Numerous additional prospect, pits, and shallow shafts are developed on the properties that expose fault zones, silicified schist, visible copper mineralization, and pervasive iron-oxide alteration. The company plans to carry out a three phase drilling plan once the company identifies the best drilling targets on the property. The property has potential for a large bulk tonnage deposit. The Boston-Arizona Mine closed in 1955 due to low metal prices. The property has not seen any known exploration or drilling since its closure.
The Gold Hill property is located on the southern end of the company's Placerita West Property. The geology of the Gold Hill mine is located in a quartz porphyry intrusive structure that is in contact with the pre-existing granite. The quartz porphyry itself has been intruded by a later and smaller dikes, that are both acidic and basic, which were probably the end product phases of the same magma. This caused filling shrinkage cracks and lines of weakness in the original intrusion and sufficiently mineralized the area. Past mining produced economic minerals such as gold and silver. The gold and silver were highly alloyed with tellurium and selenium. Mineralization is a vein deposit with an irregular ore body. Ore control was localization along fissure systems in addition to disseminated ore. Ore concentration was oxidation and enrichment at near surface and the alteration is sericitization and argillization. The mine last produced in 1936 with no further exploration on the site since 1961.
The IXL Cinnabar mine is located central part of the company's Placerita West Property. The IXL Cinnabar property has quicksilver that is deposited in silicious veins in a batholithic mass of granite. This granite has been intruded by an irregular mass of diabase and by dikes of andesite and rhyolite. Not much history is available for this mine other than it was last in production in the early 1930's.
The Big Plumne mine is located in the central part of the company's Placerita West Property. Mineralization at the Big Plumne is a vein deposit wit ore control defined by faults. Ore concentration was in brecciated rock in siliceous veins along dikes of andesite or rhyolite. Not much history is available for this mine other than it was last in production in the late 1930's and was last explored in 1978.
COPPER BASIN MINE OWNED BY FREEPORT MCMORAN COPPER & GOLD INC.
Freeport McMoran (past owner Phelps Dodge Corporation), has been active in the Copper Basin mining district since about 1914 when they started operating as the Commercial Mining Company and shipped high grade copper ore to the smelter in Douglas, Arizona. They received patent to part of the claims they were working in 1921 and over the years have patented or purchased a block of claims comprising 753,209 acres.
A "porphyry copper" type ore body covered by the claims has been disclosed by extensive exploration starting in 1959. The disseminated ore body containing an estimated 175 million tons averaging 0.55% copper and 0.02% molybdenum has been indicated by core drilling and sampling.
Copper Basin lies in the mountain region that separates the Colorado Plateau from the Basin and Range Province. The terrane is essentially a complex of igneous and metamorphic rocks of older Precambrian age intruded by a composite stock of presumed Laramide age as well as by late Tertiary rhyolite. A "porphyry copper" type copper-molybdenum deposit in which most of the mineralization seems to have been controlled by pipe structures has been demonstrated to exist by drilling, sampling and mapping. The Laramide stock is thought to have an elongated "beet" shape restricted at depth. The intrusive units vary widely in composition, but mineralization is most closely associated with quartz monzonite and quartz monzonite porphyry.
Mineral deposits of the district have a rough zonal arrangement with the copper-molybdenum mineralization in the center of the breccia pipes which are roughly cylindrical, vertical structures ranging in diameter from 50 to 600 feet. An aureole of lead-zinc-silver minerals surrounds some of the breccia pipes. The mixed breccia in the pipes is cemented by late magmatic fluids that passed upward from the magma chamber loosening and moving the fragments thus enlarging the pipe, depositing quartz and sulfide ore minerals, and finally choking flow in the conduit. Successive flexures of the stock occasionally reopened fractures allowing a resurgence of hydrothermal solutions to rise through conduits depositing additional minerals. Pyrite, chalcopyrite and molybdenite are the valuable ore minerals. These were deposited along fracture surfaces throughout a large area in Copper Basin with the higher grade ore generally associated with the fractured pipe structures. Some 25 exposed mineralized pipes are known within the rocks forming the Copper Basin stock. The main cluster of pipes, including the productive ones, form round reddish brown hills on the west side of Copper Basin. The Commercial, Copper Hill and Loma Prieta mines have exploited three separate pipes and supplied most of the copper ore produced from the district probably totaling about $300,000 worth. Most of the production was of direct shipping siliceous copper fluxing ores. Although the Copper Basin district has undergone a complex structural history since early Precambrian time, including faulting of regional magnitude, there does not appear to be any post-mineral structural movement of any significant magnitude. In August 2010 the Company optioned a 100% interest in the Silver Crown Mine property which holds historic silver, gold and copper mine situated on a quartz sericite schist belt adjacent to the Zonia Mine property which hosts a multibillion dollar copper deposit also hosted in a quartz sericite schist belt. The Silver Crown mine is a past productive underground mine situated north and east of the Zonia Copper mine, in the Walnut Grove mining district. Placer gold washing was done on French Gulch in the claim area, and placer equipment is still present, indicating some (small scale) placer mining is still being done. It was discovered about 1880 with one main underground adit and two shafts.
Copper-gold-silver mineralization occurs in quartz veins and shears either parallel to foliation in the host Yavapai metamorphosed volcanic schists or at a slight angle. There is little information on the original mine workings. Apparently there have been 27 historical diamond drill holes but only logs for 5 holes have been recovered. Extensive underground and surface mining activity has been carried out since the time of the Spanish-Mexican occupation of Arizona. Ore form this mine was packed out on mules down to the Hassayampa River for milling and processing in arrastras. Intermittent small scale mining was done in the 1880's to 1904 and again in the 1920's. Activity resumed about 1957 by the Arizona-Michigan Mining Company. Some development work was done and some inefficient milling attempts were made. The company expended about $2.3 million in mine development, mill construction and drilling 27 diamond drill holes.
With the completed acquisition of the Silver Crown Mine, Alliance has increased its total holdings to 10 past producing mines and 4 prospects. These include the Big Plumne Mine, Bodie Mine, Boston-Arizona Mine, Gold Hill Mine, Gold Pit, Gold Eagle, Gold Chest, Gold Spring, Gold Bug, Gold Beetle, IXL Cinnabar Mine, Placerita Mine, Silver Crown Mine and Trails End Mine. Alliance has also done significant research to find historic documentation for these sites including maps, past production records, reports, drilling records and assay results.
In early 2011, Alliance completed an airborne geophysical survey program over the Silver Crown and Placerita South claims adjacent to the Zonia mine. Three general trends within the geophysical data were noted for the Silver Crown Area and further geophysical interpretation of the data is planned. Alliance plans to compile all available historical data from drilling and development of the Silver Crown mine and incorporate it with the geophysical data.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
The Company also wishes to announce that it is proceeding with a share for debt filing to pay accumulated service fees of $44,000. Approximately 880,000 shares in the capital stock of the Company will be issued to pay outstanding loans. The shares issued for stock will be subject to a four month hold period and is subject to TSX-V approval.
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 which have had gold and silver production in the past century.
ON BEHALF OF THE BOARD
"Travis Snyder "
Mr. Travis Snyder
The TSX 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, 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.
FOR FURTHER INFORMATION PLEASE CONTACT: Alliance Mining Corp. (604) 628-6645