Alliance Mining Initiates 43-101 on its Gold Assets between Agnico-Eagle’s Las Bolas project and Fresnillo’s PLC Orisyvo Discovery
March 26, 2013 (Source: Newswire) Vancouver, BC — Alliance Mining Corp (ALM: TSX.V), is pleased to announce that it has engaged Coast Mountain Geological Ltd. of Vancouver, BC to prepare a 43-101 report on its Gold assets in the Uruachic district Mexico. 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 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. Alliance, which sits in the middle of Fresnillo’s land holdings has spent a modest amount to date, approximately $200,000 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.
Alliance’s neighbor Agnico is also active and has initiated a $5,000,000 drill and exploration program at Las Bolas.
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. 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.
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Alliance’s land package contains several assets that could be stand-alone opportunities. However, the company plans on making only one asset available for Joint Venture, any parties interested in exploring this opportunity should contact the company.
Alliance has an option on this property by way of an option agreement which is pending TSX Venture Exchange approval.
“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.”
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