Allegiant Gold Completes 9 Hole, 3800 Metre Drill Program Near Original Pit Zone At Eastside
RENO, Nev., April 29, 2021 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is very pleased to announce the completion of a 9-hole drill program (approximately 3,800 metres) near the Original Pit Zone at Eastside, our flagship project, 30 km northwest of Tonopah, NV.
Peter Gianulis, CEO of Allegiant Gold, commented: “We are very pleased to have completed the recent drill program which was conducted on the western flank of the Original Pit Zone. Our initial objectives for this drill program were three-fold: First, to test the perspectivity of the western flank immediately outside the Original Pit Zone. Second, test deeper targets within the Original Pit Zone. Third, potentially expand the pit wall leading to a reduced strip ratio in the Pit Zone. We expect to release a summary of all assays upon receipt and analysis. Furthermore, we expect to provide a more thorough corporate update in the near future.”
Allegiant continues to develop and expand upon our inferred resource base of 57 million tonnes grading 0.54 g au/t (approx. 1 million gold ounces inferred) at Eastside. Over the past six months, Allegiant has now drilled approximately 10,000 metres at Eastside including 6,000 metres in the Castle Area and 3,800 metres nearby the Original Pit Zone.
Graph 1: Map of Eastside
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.
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 7 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
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