ALLEGIANT High-Impact Drilling Campaign; North Brown
28 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 2018. The North Brown gold project is
located on the Battle Mountain Gold Trend in Nevada, and as a
result of additional staking, it is now contiguous and adjoining
ALLEGIANT’s Browns Canyon Project. Moving forward the
combined projects, which essentially form part of the same gold
system, will be one project named Browns Canyon.
ALLEGIANT completed 2,036 meters of preliminary
rotary drilling in 11 holes at the North Brown geochemical gold
anomaly at the Browns Canyon project, in addition to geophysics,
and geological interpretation. Although there were no
reportable gold intercepts from any of the holes, this new work
allowed ALLEGIANT to better understand the North Brown gold
anomaly, with a view to targeting the source of the gold in the
next round of drilling of Browns Canyon.
Excellent grade gold samples (from nil up to 9
g/t gold) at the North Brown gold anomaly are in angular, altered
fragments, up to 0.3 meters in diameter, in a carbonate breccia
horizon in the Devonian sequence. The breccia lies between
massive limestone and siltstone. The breccia is thought to be
along a flat fault and gold only occurs in some of the breccia
fragments and not in the matrix of the breccia. The breccia
is from 10 meters to 16 meters thick and was cut in several drill
holes but only returned weakly anomalous drill intercepts (up to a
maximum of 0.04 g/t gold).
ALLEGIANT believes the mineralized
fragments in the breccia are transported along a flat fault from a
local source near the North Brown anomaly. Field work and
additional geophysical work will continue to discover the source of
the mineralized breccia fragments.
Additional surface sampling over the expanded
Browns Canyon project area has now yielded a total of 5 separate
geochemical anomalies with significant gold. Initial sampling
at Anomaly 5 was particularly encouraging. Gold samples up to
3.2 g/t gold occur at Anomaly 5 in outcrops and float chips of
jasperoid and iron-stained breccia along faults in a northeasterly
zone about 760 meters long and about 50 meters wide. Anomaly
5 has never been drilled and presents an excellent target for
Carlin-type gold mineralization. ALLEGIANT plans to carry-out
additional surface sampling, trenching, and drilling at Browns
Canyon. A sample map showing the location of the gold
anomalies at Browns Canyon can be viewed at the following link:
www.allegiantgold.com/nr/2019-01-28-map.pdf
Qualified PersonAndy 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 ALLEGIANTALLEGIANT owns
100% of 12 highly-prospective drill-ready gold projects in the
United States, 9 of which are located in the mining-friendly
jurisdiction of Nevada. ALLEGIANT is one of the most active
explorers in the gold sector; three projects with “discovery”
potential have been drilled since August 2018, and at least four
more are planned to be drilled in 2019. 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.
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 Gold Ltd.’s (“Allegiant”)
property holding costs savings or income generated from optioning
out certain properties; Allegiant’s drilling and exploration plans
for its properties, including anticipated costs and timing thereof;
the potential of hosting good grade gold mineralization or
expansion; Allegiant’s belief with respect to North Brown
anomalies and the related transportation of mineralized
fragments, including the discovery of the source of the mineralized
breccia fragments; Allegiant’s plans for growth through exploration
activities, acquisitions or otherwise; and expectations regarding
future maintenance and capital expenditures, working capital
requirements; and Barrian’s plan to complete an initial public
offering and its acquisition of certain properties. 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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