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Alliance Mining Corp. (TSXV:ALM) Drill program Update on the Packsack Gold Property

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The first hole of the approximately 1,000 metre drill program was drilled to a depth of 380 metres under the existing Packsack shaft. Drilling under the Packsack shaft has shown that shearing, late dikes, and quartz veining with sericite, pyrite and tourmaline extend well below the 150 metre level drift.

Additional Information:

Company: Alliance Mining Corp.
Website: http://www.alliancemining.com
Stock Symbol: TSXV: ALM
Date Published: Mar 27, 2018
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Alliance Mining Corp. has provided an update on its 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 Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba, a belt forming part of the Uchi sub province, which includes the Red Lake and Pickle Crow belts in Northwestern Ontario.

The first hole of the approximately 1,000 metre drill program was drilled to a depth of 380 metres under the existing Packsack shaft.

Drilling under the Packsack shaft has shown that shearing, late dikes, and quartz veining with sericite, pyrite and tourmaline extend well below the 150 metre level drift.

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: “The features and mineralization observed in the core show all the characteristics of gold mineralization found in the Packsack veins and elsewhere in the Bissett Gold camp.”

The second drill hole in now underway.

This is the first significant drill program to test under the 500 ft (152 m) level exploration drift on the Packsack property

The Packsack property hosts several gold-bearing veins within a conjugate (con-ja-gate) fracture set adjacent to the Red Rice shear zone.

The structural control on veining at the Packsack property is similar to that at the True North Mine, 4 kilometres northeast, operated by Klondex Mines Ltd.

Previous exploration, completed between 1936 and 1940, focused on the Big Dome Vein, with a shaft to 525 feet (160 metres) along with 2,867 feet (874 metres) of drifting and crosscutting on 4 levels down to 500 feet (152 metres).

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 $0.04

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 Megan Edwards for Investmentpitch Media