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Alliance Mining Corp. (TSXV:ALM) Drill program completed at its Packsack gold property

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The program, the first significant drill program to test under the 500 foot (152 metre) level exploration drift, was completed with four NQ drill holes totaling 792.9 metres. All technical objectives of the program were accomplished.

Additional Information:

Company: Alliance Mining Corp.
Website: http://www.alliancemining.com
Stock Symbol: TSXV: ALM
Date Published: Apr 26, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Alliance Mining Corp. has completed the drill program at its Packsack gold property, which began on March 15th.

The Packsack gold property, which forms part of the company’s Red Rice Lake gold project, is located in Manitoba’s Bissett gold camp, close to the town of Bissett.

Alliance has an option to acquire 100% of the Red Rice Lake gold property, located in the centre of Bissett gold camp in Manitoba, Canada.

The property is located close to the town of Bissett, Manitoba, and just four kilometres south from Klondex Mines' True North gold mine.

The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba.

This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.

The program, the first significant drill program to test under the 500 foot (152 metre) level exploration drift, was completed with four NQ drill holes totaling 792.9 metres.

All technical objectives of the program were accomplished.

Drill hole PK-18-1 was abandoned without casing into bedrock when unexpectedly deep overburden was encountered along the north side of the Red Rice Lake topographic lineament, which lies immediately north of the Packsack vein systems.

Drilling was then shifted to the south side of the lineament.

Drill hole PK-18-2, drilled beneath the Packsack veins and underground drifts/crosscuts, intersected mineralization with 1% pyrite between 104.8 to 110.5 metres, as well as mineralization with 2% pyrite between 113.3 to 126.4 metres.

PK-18-2 also intersected sericite-altered and quartz-veined dacite volcanics with 1% pyrite between 317.7 to 318.1 metres and between 328.6 to 356.2 metres.

Drill hole PK-18-3, intended to test for a possible east to northeasterly plunge of the Packsack vein systems, intersected sericite-altered quartz-veined dacite volcanics with 2% pyrite between 159.6 to 161.9 metres.

Drill hole PK-18-4 was intended to intersect the Big Dome vein to provide gold grade/width data on the portion of the vein which was explored by underground exploration in the 1930s.

This drill hole intersected sericite-altered and silicified dacite volcanics with minor pyrite between 38.1 to 46.3 metres, likely the Hargreaves vein.

The Big Dome vein was intersected from 56.8 to 65.4 and was characterized by a 50% mix of quartz-calcite-ankerite-tourmaline veining with 1% pyrite and sericite-altered mafic dike wallrock with 3% pyrite.

Variable veining continued in both altered dacite and altered mafic dikes with 1 to 2% pyrite between 65.4 to 90.1 metres and 112.6 to 115.6 metres.

Alliance’s consulting geologist, Bill Hood, P.Geo., who has four decades of mineral exploration experience and has supervised multiple drill and exploration programs in the Bissett gold camp, stated:
“These geological/mineralogical characteristics are indicative of a very promising environment for gold exploration.”

Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies.

The shares are trading at $0.035.

For more information, please visit the company’s website www.alliancemining.com, contact Antony Claydon, Investor Relations, at 604-445-5421 or email ir@alliancemining.com

I’m Samantha Deutscher for Investmentpitch Media