The Horsethief property is located in Lincoln County, Nevada approximately 220 km north-east of Las Vegas and 19 km north-east of Pioche. Infrastructure and access to the property are favorable given the proximity to a hydroelectric power source and a highway within 19 km of the property that is connected by an all-weather road.
The property geology at Horsethief is an off-trend sediment hosted Carlin-style gold system. Work by previous operators included mapping and sampling hematite-rich jasperoid breccia outcrops followed by 4,200 metres of shallow rotary drilling reporting multiple intervals of gold mineralization including 1.2 g/t gold from 13.7 metres and 0.8 g/t gold from 39.6 metres.
Hochschild Mining (US) Inc. has optioned three Nevada properties from Alianza including Horsethief. Under the terms of the option agreement, Hochschild can earn a 60% interest by making exploration expenditures totaling US$5.0 million over 5.5 years at Horsethief. Exploration work in 2020 includes a 2,600 metre drilling program that began in the second quarter of 2020.