Colne’s defensive frailties were exploited by their opponents when they appeared on course for a comfortable victory after taking a 2-0 lead.
The first-half was evenly balanced with both teams creating chances and looking dangerous on the counter attacks.
Just before the break, Colne took the lead when Louis James attempted to clear Ted Cockett’s speculative shot but sliced his clearance over Town goalkeeper Mike Langley’s head into the roof of the net.
Colne increased their lead in the second-half when Michael Cruz headed the ball past his defender and ran onto his own pass to head past the advancing Langley.
One minute later, Alsager pulled a goal back when the Colne defence failed to clear a long ball over the top and Tom Swan nipped in to slot the ball past Pickard.
Alsager scored an equaliser when Pickard deflected into the net and, late on, Tim Drohan raced clear to blast the Alsager winner.
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