Allegiant to Commence 12,000+ Metres of Drilling at Eastside, Including Deep Drilling of High-Grade Zone
14 Febrero 2022 - 7:05AM
Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU:
TSX-V) (AUXXF: OTCQX) is pleased to announce the
completion of additional road building at Eastside and the
commencement of drilling to occur in March 2022.
Allegiant has recently built over 6 kilometres
of additional roads over the past few months allowing direct access
to the High-Grade Zone (“HGZ”) recently discovered in our last
drilling program. The roads will also provide better access to the
upcoming drill program at both the East Pediment and the Western
Anomaly.
Allegiant plans to drill approximately 35
reverse circulation (“RC”) holes and 7 diamond core (“Core”) holes
at Eastside in the upcoming drill program set to commence in March
2022 (see map below). Approximately 25 RC holes are planned at the
East Pediment with an average depth of 200 metres per hole. At the
Western Anomaly, Allegiant plans to drill 10 RC holes with an
average depth of 300 metres per hole. The East Pediment drilling
targets resistivity highs under shallow, alluvial cover (2-20 m.).
The resistors have the same geophysical signatures as the rhyolite
domes hosting most of the gold and silver in the area of past
drilling at the Original Pit Zone (“OPZ”) Target. The West Anomaly
drilling is targeting geochemical anomalies detected by surface
sampling where gold values range from 0.5 g/t - 24 g/t gold with
attendant pathfinder trace element signatures. To date, there has
been no previous drilling on the East Pediment or the West
Anomaly.
The 7 Core holes will have an average depth of
600 metres and are designed to test the recently discovered HGZ
within the OPZ that yielded the following results:
- Hole 243 included 2.55 g/t
Au over 147.8 metres (3.17 g/t Au over
117.3m)
- Hole 239 included 111.3m of
1.45 g/t Au including 3.1 metres of 39
g/t at the bottom of the hole.
- Hole 244 included 76 metres of
mineralization with best intercept being 6.1m of 1.48 g/t
Au
- Hole 245 included 15.2
metres of 3.4 g/t Au from relatively shallow depths
(177m)
Allegiant anticipates the core drilling program
to commence in May 2022. For further information, please see the
following news release dated May 26, 2021
(https://allegiantgold.com/en/news/2021/allegiant-discovers-bonanza-gold-and-silver-grades-at-eastside/).
MAP 1: DRILL TARGETS
https://allegiantgold.com/en/projects/eastside/maps/
Peter Gianulis, CEO of Allegiant
Gold, commented: “We are very excited to commence our
much-anticipated follow-up drill program at Eastside. The building
of these roads was crucial to allow us access to our drill targets
around the HGZ at the Original Pit Zone at Eastside. We are now
able to test and drill new prospective targets in and around the
Original Pit Zone at Eastside with our recently amended
Plan-of-Operations that greatly expands our permitted area by 500%
to approximately 3,600 acres. We look forward to sharing the
results with shareholders.”
QUALIFIED PERSON
Andy Wallace is a Certified Professional
Geologist (CPG) with the American Institute of Professional
Geologists and is the Qualified Person under NI
43-101, Standards of Disclosure for Mineral Projects, who has
reviewed and approved the scientific and technical content of this
press release.
ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective
gold projects in the United States, seven of which are located in
the mining-friendly jurisdiction of Nevada. Four of Allegiant’s
projects are farmed-out, providing for cost reductions and
cash-flow. Allegiant’s flagship, district-scale Eastside project
hosts a large and expanding gold resource 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.
ON BEHALF OF THE BOARD
Peter Gianulis 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.
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. Allegiant Gold Ltd.’s (“Allegiant”) exploration plans
for its gold exploration properties, the drill program at
Allegiant’s Eastside project, the preparation and publication of an
updated resource estimate in respect of the Original Zone at the
Eastside project, Allegiant’s future exploration and development
plans, including anticipated costs and timing thereof; Allegiant’s
plans for growth through exploration activities, acquisitions or
otherwise; and expectations regarding future maintenance and
capital expenditures, and working capital requirements.
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possible events, conditions or results of operations that are based
upon assumptions about future economic conditions and courses of
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