Vancouver-based exploration company Alianza Minerals has signed an option agreement with US precious metals mining company Coeur to explore the Tim Silver property in Yukon, north-western Canada.
Alianza said in a press statement that the exploration will target high-grade silver-lead mineralisation similar to that found in the Silvertip mine – one of the newest silver-zinc-lead mines acquired by Coeur in October 2017 and located 12 km from the Tim Silver property.
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Exploration will start in 2020 and consist of detailed mapping, geochemical soil surveys and reopening old trenches dating back to 1988.
Alianza CEO Jason Weber said: “We are very pleased to have partnered with Coeur to advance the Tim Silver Property.
“Tim looks to be a Silvertip analogue, and the Coeur team is an obvious choice to move the project forward. It will be a great advantage to have Coeur’s geological expertise applied to the project.”
According to the agreement, Coeur could earn 80% interest in the property by funding $3.55m in exploration over the course of five years and by making cash payments for the total of $575,000 over eight years.
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By GlobalDataAlianza, which has projects in several countries including the US, Peru and Canada, in 2013 re-evaluated the Tim property, enabling chip sampling to return to 352 grams per tonne (g/t) silver and 9% lead across 4m.
Mining Technology has approached Alianza and Coeur for further comment.
