Alliance Updates Mexico Gold Assets between Agnico-Eagle's Las Bolas project and Fresnillo's PLC Orisyvo Discovery
18 April 2013 - 11:00PM
Access Wire
VANCOUVER, British Columbia: ALLIANCE MINING CORP (ALM: TSX.V),
is pleased to announce that Coast Mountain Geological Ltd. of
Vancouver, BC has completed their field tour of its Gold assets in
the Uruachic district Mexico. A 43-101 report is currently being
compiled on the various claims of the 50 square kilometres (4,872
hectares) land package.
The report will cover all of Alliance's gold assets that now sit
in the middle of Fresnillo's land holdings that contains the
Orisyvo Gold discovery, which is currently at 9.6 million ounces
Au. Agnico-Eagle's Las Bolas project also sits adjacent to
Alliance's assets in the middle of Fresnillo's holdings. This
report will provide the first comprehensive summary of exploration
data in over ten years since the discovery of the nearby Orisyvo
deposit. (See Map at Alliancemining.com)
Most recently, the Mexican subsidiary of Agnico-Eagle Mines Ltd.
is scheduled to resume drilling in early May on the Los Bolas
property. This property is adjacent to Alliance's Gachupines
property and the targeted mineralezed vein systems trend directly
along strike toward Alliance's Pelonachic property located one
kilometer due west. Agnico-Eagle Mines Ltd. recently drilled
2,803.5 metres of NQ-diameter diamond drilling in 10 holes of
varying lengths.
Alliance, which sits in the middle of Fresnillo's land holdings
has spent to date, approximately $300,000 in due diligence expenses
and other expenditures required under the proposed option agreement
to keep the property in good standing. Fresnillo has recently spent
in excess of $100,000,000 and it has recently been reported that
they plan to spend an additional $800,000,000 expanding the Orisyvo
discovery.
The Mexican government has also become an active participant as
a result of the Orisyvo discovery, and it is currently paving the
45-kilometre gravel access road leading to Uruachic.
Alliance's land package is 50 square kilometres (4,872 hectares)
in the Uruachic district of northwestern Mexico. Alliance's package
was staked prior to the Orisyvo's discovery and was done to cover
many historic mine workings from the eighteenth and nineteenth
centuries. To learn more about Fresnillo PLC's important Orisyvo
discovery visit (www.fresnilloplc.com). Fresnillo is the
second-largest gold producer in Mexico and the world's largest
silver producer.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI
43-101 is responsible for the technical information contained in
this release.
Alliance has an option on this property by way of an option
agreement which is pending TSX Venture Exchange approval.
ON BEHALF OF THE BOARD
"Chris Anderson "
Mr. Christopher R Anderson,
CEO, President, Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Christopher R Anderson
(604) 628-6645
"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."
Alliance Mining (TSXV:ALM)
Historical Stock Chart
From Nov 2024 to Dec 2024
Alliance Mining (TSXV:ALM)
Historical Stock Chart
From Dec 2023 to Dec 2024