ALLEGIANT Completes Red Hills Drill Program and Begins Drilling at Hughes Canyon; Nevada
02 Octubre 2018 - 7:00AM
Allegiant Gold Ltd. (AUAU: TSX-V) (AUXXF: OTCQX)
is pleased to report on the progress of its high-impact discovery
drilling campaign. A total of six (6) projects located
principally in the world-class gold mining jurisdiction of Nevada
are slated for drilling over a 10-12 month period; drilling
commenced at the Red Hills project in August 2018 (see press
release of August 22, 2018).
ALLEGIANT completed the Red Hills drill program
on September 20, 2018. Nine (9) holes were drilled for a
total of 2,342 meters. Seven of the holes were drilled in a
covered flat targeting a buried intrusive and its margin. Two
holes were drilled to test a northwest-trending structure cutting
Paleozoic sedimentary rocks on the south end of Red Hills where
surface sampling had returned high trace elements and encouraging
gold grades. Assays are pending.
Drilling has commenced at ALLEGIANT’s Hughes
Canyon gold project located 50 km east of Lovelock, Nevada.
Twelve drill holes totaling 2,550 meters, are planned. Holes
will be drilled on the pediment immediately west of the Hughes
Canyon gold showing along the western margin of the Stillwater
Range. Drill holes will target both geophysical and
geochemical anomalies in Mesozoic sedimentary rocks.
Qualified Person
Andy Wallace is a Certified Professional
Geologist (CPG) with the American Institute of Professional
Geologists and is a Qualified Person as defined under National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects. Mr. Wallace has reviewed and approved the technical
content of this press release.
ABOUT ALLEGIANT ALLEGIANT owns
100% of 14 highly-prospective drill-ready gold projects in the
United States, 11 of which are located in the mining-friendly
jurisdiction of Nevada. Six of the projects are slated for
near-term drilling and all offer excellent discovery opportunity.
ALLEGIANT’s flagship Eastside project hosts a large and
expanding gold resource, is district scale, and is located in an
area of excellent infrastructure. Preliminary metallurgical testing
indicates that both oxide and sulphide gold mineralization at
Eastside is amenable to heap leaching.
Further information regarding ALLEGIANT can be
found at www.allegiantgold.com.
ON BEHALF OF THE BOARD,
Robert F. Giustra Chairman & CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
Certain statements and information contained in
this press release constitute "forward-looking statements" within
the meaning of applicable U.S. securities laws and “forward-looking
information” within the meaning of applicable Canadian securities
laws, which are referred to collectively as "forward-looking
statements". The United States Private Securities Litigation Reform
Act of 1995 provides a “safe harbor” for certain forward-looking
statements. Forward-looking statements are statements and
information regarding possible events, conditions or results of
operations that are based upon assumptions about future economic
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identified by the use of words such as “seek”, “expect”,
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(including negative variations) suggesting future outcomes or
statements regarding an outlook. Forward-looking statements in this
and other press releases include but are not limited to statements
and information regarding Allegiant Gold Ltd.’s (“Allegiant”)
drilling and exploration plans for its properties, including
anticipated timing thereof. Such forward-looking statements
are based on a number of material factors and assumptions and
involve known and unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements, or
industry results, to differ materially from those anticipated in
such forward-looking information. You are cautioned not to place
undue reliance on forward-looking statements contained in this
press release. Some of the known risks and other factors which
could cause actual results to differ materially from those
expressed in the forward-looking statements are described in the
sections entitled “Risk Factors” in Allegiant’s Listing
Application, dated January 24, 2018, as filed with the TSX Venture
Exchange and available on SEDAR under Allegiant’s profile at
www.sedar.com. Actual results and future events could differ
materially from those anticipated in such statements. Allegiant
undertakes no obligation to update or revise any forward-looking
statements included in this press release if these beliefs,
estimates and opinions or other circumstances should change, except
as otherwise required by applicable law.
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