Friday, September 02, 2022
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. Three 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.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Core diamond drill program. In June, Allegiant Gold commenced a diamond core drilling program at Eastside in the high-grade zone discovered during the 2021 drill program within the original pit zone. The company is on the fifth hole which have averaged 530 meters to 550 meters depth. We think the company could complete up to 9 holes by the end of the year. Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245.
RC drilling results expected soon. Allegiant completed a 32-hole, 6,703-meter reverse circulation drill program in June to test new exploration targets at Eastside, including 21 holes drilled in the East Pediment and 11 holes drilled at the West Anomaly. The targets are to the east and west of the original pit zone and we expect the company to begin releasing available drill results from this program soon. We believe Allegiant may resume reverse circulation drilling in October to continue drilling additional targets based on assays….
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