Vancouver, British Columbia--(Newsfile Corp. - November 22, 2021) - Alliance Mining Corp. (TSXV: ALM) reports field work progress on its Red Rice Lake group of gold properties. The Red Rice Lake gold property claims are located in the centre of Manitoba's Bissett gold camp, close to the town of Bissett, which forms part of the Uchi sub-province that includes the Red Lake and Pickle Lake belts in Northwestern Ontario.
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The company's property is located within 5 kilometres of 1911 Gold Corp's (TSXV: AUMB) True North Complex at Bissett, Manitoba, which comprises a fully permitted and operational 1,300 tonnes per day mill and tailings facility, currently reprocessing historical tailings. Although the Rice Lake belt has been explored for gold since the original discovery at Rice Lake in 1911, previous efforts were hindered by highly fragment land positions.
Chris Anderson, President, stated: "We have been working to acquire ground along the highly prospective Red Rice structure over the past year and are pleased with the package we have been able to assemble to date over this parallel structure to the Rice Lake shear which hosts the nearby True North/San Antonio deposit. The coming year we expect is going to be very busy for Alliance and we're looking forward to exploring the much larger property position that we have recently assembled, and any more ground we may acquire in the meantime before the 2022 field season begins."
Initial field work has been focused on locating and sampling the known historical veins on the property, including the Gilbert, Clappalou, Elbow, Yankee Girl North, CUPP, Fox and Wolf veins. Samples are being sent to the lab and results will be released once they are received. In addition, location and maintenance of certain claim boundaries and corners has been completed, and this work will continue, since many of these historical claims date back nearly a century.
Alliance plans to drill all prospective targets once they have been better defined and is now taking steps to address such a drill program. Alliance previously completed a diamond drill program in 2018 on the Packsack group of veins, which has a shaft to 525 feet and 4 levels down to 500 feet. Drill hole PK-18-4 intersected 21.2 metres grading 0.86 grams per tonne gold, including 1.78 grams per tonne over 8.7 metres in the Big Dome vein, all within a large altered mafic dike. It is also expected that the Fox vein, which has had 54 drill holes between 1973 and 2005, will be a priority target.
The shares are trading at $0.335. For more information, please visit the company's website www.AllianceMining.com, contact Chris Anderson, President, at 604-488-3900 or email ir@AllianceMining.com.
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