VANCOUVER, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) -- Alliance Mining Corp. (TSXV:ALM) announced results from its Fall, 2021, prospecting and sampling program on its Red Rice Lake gold property in south eastern Manitoba. The Red Rice Lake gold property claims are located in the centre of Manitoba’s Bissett gold camp, close to the town of Bissett, which forms part of the Uchi sub-province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.
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The company’s property is located within 5 kilometres of 1911 Gold Corp’s True North Complex at Bissett, Manitoba, which comprises a fully permitted and operational 1,300 tonnes per day mill and tailings facility, currently reprocessing historical tailings. Although the Rice Lake belt has been explored for gold since the original discovery at Rice Lake in 1911, previous efforts were hindered by highly fragment land positions.
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 gold from the Gilbert vein, 16.8 g/t gold from the Wolf vein, and 9.84 g/t gold from the Fox vein. The Fox vein has had 54 drill holes since 1973 and will be a priority target going forward. Significant gold assay results are shown in this table in the video.
Chris Anderson, President, stated: “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. We are very pleased with these initial results from the expanded Red Rice claim group and we will have further announcements regarding exploration of the Fox vein in the very near future.”
Alliance previously completed a diamond drill program in 2018 on the Packsack group of veins, which has a shaft to 525 feet and 4 levels down to 500 feet. Drill hole PK-18-4 intersected 21.2 metres grading 0.86 grams per tonne gold, including 1.78 grams per tonne over 8.7 metres in the Big Dome vein, all within a large altered mafic dike.
The shares are trading at $0.25. For more information, please visit the company’s website www.AllianceMining.com, contact Chris Anderson, President, at 604-488-3900 or email ir@AllianceMining.com.
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