Mar 27, 2013 (ACCESSWIRE-TNW via COMTEX) — The Company has recently received results of an exploration program on the El Indio and Pelonachi properties which included mapping and channel sampling during the months of November to January. Also included was improvements to access roads in certain areas of the Pelonachi property. A total of 222 geochemical samples were taken on the El Indio property and 488 samples were taken on the Pelonachi property. The El Indio and Pelonachi claims are part of Alliance’s 4,872 hectare land package located totaling nearly 50 square kilometres primarily in the Uruachic district of northwestern Mexico. The land package puts Alliance in the heart of a prolific gold exploration area and includes the closest privately held claims, within four kilometres, to Fresnillo PLC’s important Orisyvo discovery (www.fresnilloplc.com). Fresnillo is the world’s largest primary silver producer and the second-largest gold producer in Mexico. However, the Orisyvo discovery may change that.
Pelonachic
The property is directly along strike from the mineralized vein trends that Agnico Eagle Mines Ltd. (AEM.T) is currently drilling and exploring on Las Bolas. This property has small old workings in the southeast and an intrusive breccia with sulphide bearing felsic volcanic fragments in a black tourmaline rich matrix, which also contains sulphides. A 43-101 report prepared in September 2003 noted “widespread hydrothermal alteration over an area of at least 1 by 1 kms with particularly strong limonitic staining. Work done previously at Pelonachi mentions samples of tourmaline-rich breccia that ran as high as 2.52 g/t gold
Alliance field crews collected 488 channel samples and mapped out several areas to help define known and new mineralization and alteration trends. Rock sampling results returned numerous gold values including 3.70, 1.75, 2.57, 1.50, 2.16, 2.23, 1.75 and 1.41 grams/tonne Au and silver values including 137, 324, 472, 465, 146, and 139 grams/tonne Ag. Results of the mapping and sampling program have identified seven discreet alteration zones including one in the northeat area of the property which is approximately 400 meters by 800 meters. This area hosts quartz veinlet systems with lead-zinc sulphides with gold and silver values.
El Indio
The El Indio Property contains strong silicification, stockwork zones with narrow quartz veining and quartz flooded hydrothermal breccias with cockade textures. Outcrops of vuggy silica and chalcedonic quartz are also present. Mineralization is hostd in what is believed to be the basal section of the regional Upper Volcanic Sequence, as is found at the nearby Corona property, currently under option to Comstock Metals from Golden Goliath Resources, and at other locations in the Sierra Madre. In the center and northwestern area of the property an elongated limonitic area approximately 1.5 km long by 250 meters wide is readily visible.
A 43-101 report prepared in September 2003 by Stingray Resources Inc. included the El Indio property. Samples taken in the central part of the property by the writer returned up to 4.19 g/t gold across 2 meters in an area of narrow quartz veining. Anomalous values of silver, arsenic, lead, antimony and mercury were also found. Two contiguous samples taken from an old trench in an area of narrow quartz veins averaged 2.67 g/t across 4 meters. Conclusions made in this report included that fact that rock alteration (silicification), stockwork quartz veining, vuggy textures, chalcedonic quartz, anomalous As, Sb and Hg, and samples with values above 1 g/t gold are all very strong indications that the El Indio Property may host epithermal precious metal mineralization. The discovery of the Orisyvo deposit subsequent to the date of the report, further enhances the exploration prospects of the El Indio property.
The Company plans to follow up the positive exploration results to date from the Pelnachic and El Indio properties with a targeted mapping and sampling program over the most prospective areas.
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.
About Alliance:
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.
The Company also has a 100% interest in nearly 50 square kilometers (4,872 hectares) primarily in the Uruachic district of northwestern Mexico. The land package puts Alliance in the heart of a prolific gold exploration area and includes the closest privately held claims, within four kilometers, to Fresnillo PLC’s important Orisyvo discovery. Fresnillo is the second-largest gold producer in Mexico and the world’s largest primary silver producer.
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.”
