Allegiant Gold Ltd. (TSX-V:AUAU) (OTCQX:AUXXF) reports results from drilling at its Adularia Hill gold project located in Nevada; drilling consisted of 21 RC holes totaling 3,170 meters.
Nearly all the holes displayed hydrothermal alteration and anomalous gold (0.02-0.09 g/t) from top to bottom, irrespective of the lithology of the host rock. Eighteen of the 21 holes contained at least 1.5 meters of gold exceeding 0.10 g/t Au. The presence of gold in many drill holes over such a large area clearly suggests more drilling is warranted. ALLEGIANT is planning a geophysical program, including CSAMT and a ground magnetics, to locate buried structures as a guide for future drilling.
Since August 2018, ALLEGIANT carried-out exploration on a total of six “discovery potential” projects; 5 of which were located in the world-class gold mining jurisdiction of Nevada. Drilling commenced at the Red Hills project, and followed at Hughes Canyon, North Brown, Monitor Hills, and then Adularia Hill. Field work at Silver Dome concluded that drilling is not warranted.
The principal purpose of the 6-project exploration campaign was to identify which of the early stage projects has the best discovery potential for a larger future drilling program, with the secondary aim of reducing the number of projects held, and hence resulting in a reduction in ALLEGIANT’s annual holding costs. Based on the results obtained, ALLEGIANT will drop Red Hills, Hughes Canyon and Silver Dome. Adularia Hill which forms part of ALLEGIANT’s Eastside project will be held, and additional drilling is planned to be carried-out at North Brown, which now because of additional staking forms part of the Browns Canyon project. Monitor Hills is still under review.
ALLEGIANT now owns 100% of 11 highly-prospective drill-ready gold projects in the United States, 9 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.
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.
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