Alliance Mining Corp. (TSX.V: ALM) announced it has entered into an option agreement to purchase a 100% interest in the historic Moose claim, in the Bissett-Rice Lake district of southeastern Manitoba by making cash payments totaling $100,000 over a five year period subject to a 1% net smelter return royalty..
“Acquisition of the Moose claim continues our efforts to consolidate a significant ground position in this highly prospective area of the Bissett belt.” stated Chris Anderson, President of Alliance. “Much of this ground has been unexplored for decades, and we intend to bring modern exploration ideas and technology to this district.”
The Moose claim lies eight kilometers southeast of the San Antonio/True North mine-mill complex presently operated by 1911 Gold Corporation in Bissett. The Moose vein was originally staked in 1914, and has been explored by drilling and two shallow shafts, with drifting and cross-cuts. The Moose claim lies two kilometers southeast of the Gold Pan property, the first gold producer, in 1919, in the Bissett-Rice Lake belt. However, an important aspect of the Moose claim, is that it lies directly along strike, on the same fault structure, about one kilometer south of the Nevada gold zone, defined and held by a private company, Golden Pocket Resources Corporation, with 131 drill holes down to 640 meters depth, in 1998.
Alliance Mining recently announced is had entered into a purchase agreement with 1911 Gold Corp. for the sale of 1911 Gold’s 50-per-cent interest in 27 contiguous mining claims, totalling 410 hectares, collectively known as the Greenbelt property, located south of Bissett, Manitoba. The Greenbelt property will be purchased for a total consideration of $500,000, payable in cash or shares of Alliance Mining Corp.
Alliance is bid $0.85, ask $0.90 with a 52 week high of $1.15.