Drilling program underway at Alianza’s Klondike Copper Property, Colorado, new surface occurrences identified
Trading Symbol (TSX-V: ANZ, OTCQB: TARSF)
410-325 Howe Street
Vancouver, British Columbia
Canada V6C 1Z7
Tel: (604) 687 3520
Fax: 1-888-889-4874
www.alianzaminerals.com
NR 22-13
Drilling program underway at Alianza’s Klondike Copper Property, Colorado, new
surface occurrences identified
Vancouver, BC, August 10, 2022 - Alianza Minerals Ltd. (“Alianza”) (TSX-V: ANZ,
OTCQB: TARSF) is pleased to announce that a 1,000 metre (m) drill program is
underway at the Klondike Property (“Klondike”), a property in Alianza’s strategic alliance
with Cloudbreak Discovery PLC (“Cloudbreak”), located in southwestern Colorado,
United States. The drill is turning and most of the construction related to the drill pads
and temporary road access to them is complete. Notably, construction of the access
between pads L and N at the Northeast Fault target revealed numerous new
occurrences of copper oxide mineralized sandstone.
The planned 1,000m drill program, fully funded by partner Allied Copper Corp. (“Allied”),
is designed to test three separate multi-kilometre copper-mineralized targets at the
West Graben, East Graben and Northeast faults. The first phase $1.0 million drill
program will test at least five of the 12 highest priority drillholes to a maximum depth of
approximately 250m.
“We are extremely pleased to have drilling underway at Klondike, just over one year
after announcing its acquisition with our alliance partner, Cloudbreak.” stated Mark T.
Brown, Executive, Chairman of Alianza. “It is very encouraging that we are uncovering
new copper occurrences as we build access into the drill pads, strengthening our
conviction that we are testing robust copper targets.”
It is anticipated that the program will take four to six weeks to complete, with results
potentially available in Q4 2022. Allied is funding this program under an option
agreement whereby Allied can earn a 100% interest in the Klondike property from the
Strategic Alliance (Alianza and Cloudbreak) over a four year period by funding $4.75
million in exploration, issuing 7 million shares and paying $400,000 to the alliance
partners. An additional 6 million warrants in the stock of Allied are payable at certain
milestones. The alliance partners will hold a 2% NSR, of which 1% can be purchased
for $1.5 million.
About the Klondike Property
The Klondike Property is located approximately 25 kilometres south of Naturita,
Colorado. This property lies within the Paradox Copper Belt, which includes the
producing Lisbon Valley Mining Complex. Numerous historical copper occurrences have
been identified throughout the district, however, many of these have not been explored
using modern exploration techniques.
A 2021 reconnaissance program consisting of mapping, stream sediment sampling and
rock sampling was undertaken at the Klondike Property to help define drill targets at the
West Graben Fault and East Graben Fault targets. Rock sampling and mapping
successfully expanded the footprint of both targets and identified a new target named
the Northeast Fault. Sampling at the Northeast Fault returned 1.56% copper and 1.4
grams per tonne (“g/t”) silver over a 4.6 metre chip sample of bleached, bitumen
spotted and altered Jurassic sandstones of the Saltwash member of the Morrison
Formation.
Copper mineralized sandstones at the Northeast Fault target can be traced along the
fault and outboard from it into the adjacent sandstones over an area 200 metres long by
100 metres wide before becoming obscured beneath gravel cover. Further anomalous
copper, including 2.1 metres of 463 ppm copper, was encountered over one kilometre to
the northwest where the structure and host strata next appear from beneath the same
gravel cover.
At Klondike, documented copper exploration ceased in the 1960s with subsequent
exploration targeting uranium the 1970s. Previous workers reported high-grade copper
mineralization highlighted by results of 6.3% copper and 23.3 g/t silver in outcrop. In
addition to its high-grade potential, disseminated copper-silver mineralization has been
observed which may be amenable to modern open pit mining with Solvent Extraction
Electrowinning (“SXEW”) processing similar to the Lisbon Valley Mining Complex.
Sedimentary hosted copper deposits are an important contributor to world copper
production, accounting for more than 20% of the world’s copper supply annually.
The project is road accessible year-round, traveling two kilometres of gravel road from
paved highway. The project is comprised of 76 mining claims on Federal mineral rights
managed by the BLM, in addition to an Exploration Permit and an exclusive right to a
State lease from the State of Colorado.
Figure 1. 2022 Phase 1 Drillholes and Permitted Drillholes, Klondike Property, Colorado
About the Strategic Alliance
Under the terms of the Alliance, either Cloudbreak Discovery PLC or Alianza Minerals
Ltd can introduce projects to the Alliance. Projects accepted into the Alliance will be
held 50/50 but funding of the initial acquisition and any preliminary work programs will
be funded 40% by the introducing partner and 60% by the other party. Project
expenditures are determined by committee, consisting of two senior management
personnel from each party. Alianza is the operator of Alliance projects unless the
Alliance steering committee determines, on a case-by-case basis, that Cloudbreak
would be a more suitable operator. The initial term of the Alliance runs for two years and
may be extended for an additional two years.
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC, is a leading natural resource project generator, working
across a wide array of mineral assets that are being developed and managed by an
experienced team with a proven track record. Value accretion within the projects being
developed by Cloudbreak’s generative model enables a multi-asset approach to
investing and exploration. Diversification within the mining sector and amongst resource
classes is key to withstanding the cycles of natural resource investing.
About Allied Copper Corp.
Allied Copper Corp. is headquartered in Vancouver, BC Canada is a mineral exploration
company focused on acquiring and developing potential long life, scalable copper-gold
assets in the Western United States. The company’s strategy is to focus on low cost
and potential high growth operations in low-risk jurisdictions. Allied’s management is
committed to operating efficiently and with transparency in all areas of the business.
About Alianza Minerals Ltd.
Alianza employs a discovery-focused business model of joint venture funding and self-
funded projects to maximize opportunity for exploration success. The Company
currently has gold, silver and base metal projects in Yukon Territory, British Columbia,
Colorado, Nevada and Peru. Alianza has one project (Tim, Yukon Territory) optioned
out to Coeur Mining, Inc. and is actively seeking partners on other projects.
Alianza is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on
the OTCQB market in the US under the symbol “TARSF”.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified
Person as defined by National Instrument 43-101. Mr. Weber supervised the
preparation of the technical information contained in this release.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
Renmark Financial Communications Inc.
Scott Logan
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
To learn more visit: www.alianzaminerals.com
Twitter: https://twitter.com/AlianzaMinerals
LinkedIn: https://www.linkedin.com/company/alianza-minerals-ltd
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