Home » Internet, Picture Gallery » Alianza Minerals Raises C$750k

Alianza Minerals Raises C$750k





 

As Alianza Minerals (ANZ.V, TARSF.US) is looking to do at least 2,000m of diamond drilling at their fully owned Haldane Silver project this year, they needed to fill up the treasury before the winterbreak was over, and it appeared they did that just in time. On May 19, 2022 they announced the closing of a financing of C$750k, consisting of 10M shares with a half 3 year warrant, with an exercise price of C$0.125 until May 19, 2025. It was good to see Chairman Mark Brown buying 1.7M shares again, topping up to an impressive 13.2M shares, almost 9% of outstanding shares. This financing was a first step, with another one sufficient to fund the Haldane program to follow. Being a hybrid prospect generator, they have other projects in the works as well, paid for by JV partners.  

All pictures are company material, unless stated otherwise.

All currencies are in US Dollars, unless stated otherwise.

The company is eying potentially up to 5 different drill programs this year at their various projects, as the optioned out (Allied Copper) Klondike and Stateline copper projects in Colorado, operated by Alianza, are both in the targeting phase now, with drilling likely to start in July. Coeur Mining, which has optioned the Tim Silver project in the Yukon, has notified Alianza Minerals that results of the 2021 program have been compiled and once Alianza has reviewed the data, a news release will detail the results of that work. Alianza expects to hear more about 2022 activities in in early summer. The Twin Canyon gold project in Colorado also has seen its fair share of prioritizing drill targets, and a drill permit for a 10 hole RC drill program is also expected in June. Alianza has the intention to seek a partner for this drill program.

As a reminder, this is why Alianza thinks there is great potential, as the Haldane area very much resembles the geological make-up of the eastern part of Keno Hill, containing several significant high grade silver deposits and mines:

Recent exploration of the past few years by Alianza has focused on the Mount Haldane Vein System (MHVS), and considering high grade results (HLD20-19: 1.78m @ 818g/t Ag and HLD21-24: 1.26m @ 3,267g/t Ag) at the West Fault target, management is narrowing its focus at this specific target even more:

According to CEO Weber, their insights on Haldane mineralization are improving, and they are looking to delineate a deposit here. He regularly talks to nearby exploring Alexco geologists, and they have confirmed to him that they are on the right track, as Alianza has hit the right type of geology, veins and structures. Weber expects to drill further stepouts at the West Fault and Middlecoff targets around June, depending on the availability of drill rigs, and targeting for the Bighorn and Ross targets will be finalized in the spring, and drilling will probably commence later this year as it is a combination of crew and drill availability.

Alianza Minerals is working on a drill permit for Twin Canyon, which is expected within weeks, and are looking for a JV partner, with discussions still ongoing.

Conclusion

The latest financing is lower than expected, but nevertheless sufficient to provide adequate funding for Haldane drilling for this year. Besides Alianzaâ€?s flagship project, Klondike and Stateline copper projects in Colorado have drilling coming up for both projects this year. The Tim Silver project will very likely also see drilling this year by JV partner Coeur Mining. After the first C$750k was raised, drilling at Haldane can begin soon, and I am curious if Alianza can expand the known mineralization into something significant, which leads to an economic deposit. But they have more irons in the fire for this year. Stay tuned!   

I hope you will find this article interesting and useful, and will have further interest in my upcoming articles on mining. To never miss a thing, please subscribe to my free newsletter, in order to get an email notice of my new articles soon after they are published.

Disclaimer:

The author is not a registered investment advisor, and currently has a long position in this stock. Alianza Minerals is a sponsoring company. All facts are to be checked by the reader. For more information go to www.alianzaminerals.com and read the companyâ€?s profile and official documents on www.sedar.com, also for important risk disclosures. This article is provided for information purposes only, and is not intended to be investment advice of any kind, and all readers are encouraged to do their own due diligence, and talk to their own licensed investment advisors prior to making any investment decisions.





Posted by on 6. June 2022. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Archive

Recent Comments

    © 2022 So-Co-IT. All Rights Reserved. Log in - Copyright by LayerMedia


    Blogverzeichnis - Blog Verzeichnis bloggerei.de Blog Top Liste - by TopBlogs.de Bloggeramt.de