ALLEGIANT Provides Update on High-Impact Discovery Drilling
17 Enero 2019 - 7:00AM
Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF:
OTCQX) reports on the progress of its high-impact
discovery drilling campaign. A total of 6 projects located
principally in the world-class gold mining jurisdiction of Nevada
are slated for drilling over a 10-12 month period, to approximately
June 2019. Drilling commenced at the Red Hills project in
August 2018 and drilling at a third project, North Brown, was
completed in December and final assays are expected within one
week. Assay results for Hughes Canyon (the second property
drilled) have now been received in full.
ALLEGIANT completed 2,139 meters of drilling in
12 rotary holes at Hughes Canyon. Hydrothermal alteration was
encountered in 10 of the 12 holes in several different
stratigraphic units in a faulted and folded Mesozoic sedimentary
package. Gold and silver values above 0.10 g/t gold
encountered in the drilling are available at the following
link:
www.allegiantgold.com/nr/2019-01-17-assays.pdf
Overall the drilling results at Hughes Canyon
are encouraging and suggest more drilling is necessary, however in
the context of prioritizing expenditures on ALLEGIANT’S large
portfolio of prospective exploration properties, Hughes Canyon will
be abandoned.
ALLEGIANT expects to resume the “discovery
drilling campaign” at the 4th project, Monitor Hills, in about one
week.
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.
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
For more information contact:
Investor Relations(604) 634-0970
or1-888-818-1364ir@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
conditions and courses of action. All statements and information
other than statements of historical fact may be forward-looking
statements. In some cases, forward-looking statements can be
identified by the use of words such as “seek”, “expect”,
“anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”,
“intend”, “believe”, “predict”, “potential”, “target”, “may”,
“could”, “would”, “might”, “will” and similar words or phrases
(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’s drilling and exploration
plans and results for its properties, including anticipated timing
thereof; and the Eastside project’s resource expansion. 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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