Additional Results From Horsethief Gold Property

VANCOUVER - Alianza Minerals Ltd. reported results from holes 4, 5 and 6 of the 10 hole 2020 reverse-circulation (RC) drilling program at the Horsethief Gold Property, Nevada. Six of ten widely-spaced holes (totaling 2,804 meters), testing five target areas over 3.5 square kilometers have now been reported, with the remaining four holes expected to be released in October.

Gold assays have been received for holes 20HT-004, 005 and 006. These three holes continue to confirm the presence of favorable host stratigraphy, alteration, and/or anomalous gold mineralization at the Horsethief South (20HT-004 and 005) and the Mustang (20HT-006) targets. Hole 20HT-004 was collared on the west flank of the Horsethief South target in what appears now to be a fault-block of limestone and dolostone. Very little alteration or oxidization was noted and no anomalous gold results were returned. Hole 20HT-005 was collared in the northern portion of the Horsethief South target, drilled at -45 degrees to the southeast. The bottom of the hole intersected 85.3 meters of altered and oxidized limestone and dolostone prior to the hole being terminated in a void at 183 meters. The section is anomalous in gold and appeared to be strengthening with depth. The strongest intercept of 3 meters of 0.141 g/t Au occurs within 20 meters of the end of the hole.

Hole 20HT-006 was collared in volcanic rocks at the Mustang Target, which lies at depth where it was postulated that the prospective carbonate rocks may lie unconformably beneath younger volcanic rocks. This hole confirmed this relationship, intersecting limestone at a depth of 233.2 meters. From 289.6 meters to the end of the hole at 367.3 meters (totaling 77.7 meters), anomalous gold values occur within limestone and siltstone that is altered with patchy weak decalcification and silicification, and mineralized with zones of disseminated pyrite and weak oxidation.

The remaining 4 holes explore untested targets in the Thoroughbred (20HT-010), Mustang (20HT-008) and the recently identified Stallion target (20HT-007, 20HT-009). All of the remaining holes intersected altered and oxidized carbonate stratigraphy confirming the continuity of the prospective stratigraphy east of the main carbonate window.

"The first six holes at Horsethief have demonstrated the presence of alteration and mineralization features typical of productive gold mineralizing systems over a broad area," said, Jason Weber, President and CEO. "We are encouraged by the size of the mineralizing system and confirmation of gold mineralization in carbonates beneath younger volcanic cover but have only intersected anomalous gold values to date. The four remaining holes all tested further, under-evaluated parts of the system particularly at the Stallion and Thoroughbred targets."