Vancouver, British Columbia – August 9, 2017 – Alianza Minerals Ltd. (TSX-V: ANZ) (“Alianza” or the “Company”) has leased the Ashby gold property to Nevada Canyon Gold Corp. (“Nevada Canyon”). The Ashby Property is located in Nevada’s Walker Lane Mineral Belt, 21 km southeast of Hawthorne, in Mineral County.
Under the terms of the Agreement, Nevada Canyon made a US$1,000 payment on signing, will make annual payments of US$2,000 and will grant a 2% Net Smelter Royalty (“NSR”) on future production from the Lazy 1-3 claims comprising the Ashby Property. Nevada Canyon will also be responsible for all claim fees and certain reclamation work to be undertaken on the property. The initial term of the lease is 10 years and can be extended for an additional 20 years.
“The Ashby lease allows Nevada Canyon to advance exploration of its larger claim package in the area in a coherent manner, giving Alianza greater ability to focus on its sediment-hosted targets at Horsethief, Bellview and BP,” stated Jason Weber, P.Geo., President and CEO of Alianza Minerals. “We expect this will be one of a number of agreements with new partners in the coming months.”
Activity at Ashby dates back to the 1930’s when 9,000 ounces of gold was recovered from quartz veins in 10 shafts at the Lazy Man Mine. A few hundred ounces of gold per year was also recovered in the 1970’s and 1980’s from another shaft 120 metres in depth. Subsequent work identified the potential for additional veining and mineralization in the vicinity of the historic workings. Nevada Canyon’s initial work, part of its larger Garfield Flats exploration program, will consist of reconnaissance prospecting, geological mapping, review of the historic workings and a follow up geophysics survey. This initial reconnaissance program will provide accurate modern data to assist in the planning of the Phase II drill program.