Six Drill Holes Completed At The Horsethief Gold Property

VANCOUVER - Alianza Minerals Ltd. reported that crews have completed six holes totaling 1,770 meters (5805 feet) of reverse-circulation (RC) drilling at the Horsethief Gold Property, Nevada. This work is funded by partner Hochschild Mining (US). The crew has left site for a mandated break and will return to finish the program on this month.

Six holes have been completed to date, with five reaching target depth. One hole (20HT-RC005) was terminated at 183 meters (600 feet) when it intersected a large void and could not continue. Two holes were completed at the Horsethief North target area, three in the Horsethief South area and one was collared to test the Mustang IP target at depth. Logging is complete and all samples have been shipped to the laboratory for analysis. Analytical results from the initial holes of the 2020 program are expected to be received in mid-July.

Additionally, the Company has mobilized a geophysical crew to conduct approximately 20 line-kilometers of magnetics and 5 line-kilometers of Induced Polarization (IP) survey, extending the existing survey coverage. This is work is undertaken to investigate newly acquired claims that were not included in the original survey.

Drilling at Horsethief follows a very successful 2019 program that included detailed mapping focussed on lithology, structure and alteration of the prospective limestone and dolostone stratigraphy exposed at Horsethief. Significantly, based on lithological characteristics and fossil identification, this work confidently assigned stratigraphic ages ranging from upper Cambrian to lower Ordovician. This is an important age determination as it corresponds to the ages of rocks hosting other major deposits such as the Long Canyon Gold Mine.

Additionally, the 2019 work program identified a new window of upper Cambrian to lower Ordovician-aged carbonate stratigraphy with significant jasperoid alteration in the northeast portion of the property. An additional 26 claims were staked to cover this occurrence as well as prospective stratigraphy identified in the southern portion of the property.

Horsethief hosts five primary drill targets; four target areas defined by surface exposures of altered carbonate rocks and one target at depth, interpreted from induced polarization (IP) and resistivity geophysical surveys.