Chakana Intersects 10m with 15.48 g/t Gold, 1.27% Copper and 82.4 g/t Silver (18.50 G/t Au-eq or 12.09% Cu-eq) within 237m of 1.74 g/t Gold, 0.59% Copper and 25.2 g/t Silver in Breccia Pipe 5 from Surface at Soledad, Peru

 

Soledad
Project Highlights Include:

• Reporting 12 remaining resource definition
  holes totalling 2,541m at Breccia Pipe 5 (Bx 5), all with significant intercepts.
• Additional resource definition drill
  results pending for Huancarama.
• Off-set IP surveys continue over all high
  priority targets defined to date.

 

Vancouver, B.C., November 18, 2021 – Chakana Copper Corp. (TSX-V: PERU;
OTCQB: CHKKF; FRA: 1ZX) (the “Company” or
“Chakana”), is pleased to provide results from the remaining twelve resource definition holes drilled in Bx 5 totaling 2,541m at the Soledad project, Ancash, Peru (see table below). This resource drilling is part of the fully funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1).  These results will further increase confidence in the initial resource estimate, anticipated to be completed by the end of 2021.

“The
final resource definition drill results released today for Bx 5 are an
outstanding culmination of the drilling on this breccia pipe. In addition to
the very strong mineralization that starts at surface, we now have
mineralization confirmed to a depth of 485m at Bx 5 where the breccia pipe and
mineralization are open at depth. Bx 5 is known to have very consistent and
continuous mineralization with zones of very high grades surrounded by long
runs of strong copper, gold, and silver grades. The breccia pipe plunges
slightly to the east from surface to 200m depth, then plunges gently north in
the direction of Bx 6. The area between Bx 5 and Bx 6 is highly prospective for
the discovery of additional breccia-hosted mineralization. With this release,
all resource definition drill results for Bx 5 have been published. We have
pending resource definition drill results for Huancarama to publish leading up
to the first ever National Instrument 43-101 compliant resource estimate for
the Soledad project,” stated President and CEO David Kelley.

Drill Results

Bx 5 (Resource Definition)

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307). ^# SDH21-256 is mineralized from surface to 237m; for greater clarity the analytical results are also reported in three separate intervals so as to identify a high-grade interval from 105 to 115m.

Bx 5

The Bx 5 breccia pipe is in the north-central part of the project and is one of six breccia pipes that will be included in our initial resource estimate (Fig. 1). The breccia pipe forms a prominent monument outcrop and extends to depths greater than 485m where mineralization remains open. Drill holes described in this release were designed to confirm shallow mineralization in the top southeastern quadrant of the breccia pipe, as well as deeper extents of mineralization probed by two holes drilled to the north from a platform located 100m south of the breccia pipe (Figs. 2 and 3). All holes intersected significant mineralization (see Figure 4 for select core photos of the mineralization).

 

2021 Resource and
Exploration Drill Program

A total of 23,947m of drilling has been completed in 2021. The objectives of this drill program are to complete resource definition drilling on six initial breccia pipes to an approximate depth of 300m and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx1, Bx 5, Bx6, Paloma East, Paloma West, and Huancarama (Fig. 1). Additional resource definition drill results for Huancarama are pending. During 2021 our drilling was focused on the north half of the project where drill permits are in place. Permitting for the south half of the project is well advanced. The southern half of the property hosts several outcropping mineralized tourmaline breccia pipes and has been recently covered by the Company’s ongoing geophysical program. Numerous targets exist, none of which have been drilled previously.

 

Geophysical Surveys

Gradient-array induced-polarization (IP) surveys have been completed over the entire 12km² footprint of the Soledad mineral system. Off-set IP surveys are now in-progress covering high priority target areas. This work complements the extensive exploration database that supports our current inventory of 110 exploration targets. This new information identifies both new targets and prioritizes existing targets that will be tested when the exploration drilling programs resume. 

 

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. A total of 60,854 metres in 261 diamond core holes for exploration and resource definition drilling have been completed since 2017, testing 16 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to base and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

 

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24.  Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified
Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

 

ON BEHALF OF THE BOARD

(signed) “David Kelley”
David Kelley
President and CEO

 

For further information contact:

Joanne Jobin, Investor Relations Officer

Phone:   647 964 0292
Email:    jjobin@chakanacopper.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts responsibility
for the adequacy or accuracy of this release.

 

Forward-looking Statement Advisory: This release may contain forward-looking
statements. Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results,
performance, or achievements of Chakana to be materially different from any
future results, performance, or achievements expressed or implied by the
forward-looking statements. Forward looking statements or information relates
to, among other things, the interpretation of the nature of the mineralization
at the Soledad copper-gold-silver project
(the “Project”), the potential to expand the mineralization, and
to develop and grow a resource within the Project, the
planning for further exploration work, the ability to de-risk the potential
exploration targets, and our belief in the potential
for mineralization within unexplored parts of the Project. These
forward-looking statements are based on management’s current expectations and
beliefs but given the uncertainties, assumptions and risks, readers are
cautioned not to place undue reliance on such forward- looking statements or
information. The Company disclaims any obligation to update, or to publicly
announce, any such statements, events or developments except as required by
law.

 

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that will be included in the initial resource are shown in green (Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama). Breccia pipes shown in yellow have had exploration drilling completed. Other pipes/occurrences and targets defined by other exploration data remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.  

 

Figure 2 – Map showing drill holes reported in this release and modeled breccia pipe (light red shape) based on all drill holes. Light gray contours are at 10m intervals. Blue rectangle in the inset map shows the area of Figure 2 within the overall Chakana property.

 

Figure 3 – 3D sectional view of Bx 5 looking west. Light red 3D shape shows breccia pipe geometry based on all drill holes. Previous holes drilled shown in grey traces.

 

Figure 4 – Select core photos from Bx 5 reported in this release: SDH21-244 (34.7m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-252 (33.9m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-253 (41.5m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-255 (39.6m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-256 (110.55m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite; SDH21-258 (35.45m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-261 (39.25m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite. Core diameter is 6.35cm (HQ) in all instances.

Chakana Intersects 10m with 15.48 g/t Gold, 1.27% Copper and 82.4 g/t Silver (18.50 G/t Au-eq or 12.09% Cu-eq) within 237m of 1.74 g/t Gold, 0.59% Copper and 25.2 g/t Silver in Breccia Pipe 5 from Surface at Soledad, Peru

 

Soledad
Project Highlights Include:

• Reporting 12 remaining resource definition
  holes totalling 2,541m at Breccia Pipe 5 (Bx 5), all with significant intercepts.
• Additional resource definition drill
  results pending for Huancarama.
• Off-set IP surveys continue over all high
  priority targets defined to date.

 

Vancouver, B.C., November 18, 2021 – Chakana Copper Corp. (TSX-V: PERU;
OTCQB: CHKKF; FRA: 1ZX) (the “Company” or
“Chakana”), is pleased to provide results from the remaining twelve resource definition holes drilled in Bx 5 totaling 2,541m at the Soledad project, Ancash, Peru (see table below). This resource drilling is part of the fully funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1).  These results will further increase confidence in the initial resource estimate, anticipated to be completed by the end of 2021.

“The
final resource definition drill results released today for Bx 5 are an
outstanding culmination of the drilling on this breccia pipe. In addition to
the very strong mineralization that starts at surface, we now have
mineralization confirmed to a depth of 485m at Bx 5 where the breccia pipe and
mineralization are open at depth. Bx 5 is known to have very consistent and
continuous mineralization with zones of very high grades surrounded by long
runs of strong copper, gold, and silver grades. The breccia pipe plunges
slightly to the east from surface to 200m depth, then plunges gently north in
the direction of Bx 6. The area between Bx 5 and Bx 6 is highly prospective for
the discovery of additional breccia-hosted mineralization. With this release,
all resource definition drill results for Bx 5 have been published. We have
pending resource definition drill results for Huancarama to publish leading up
to the first ever National Instrument 43-101 compliant resource estimate for
the Soledad project,” stated President and CEO David Kelley.

Drill Results

Bx 5 (Resource Definition)

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307). ^# SDH21-256 is mineralized from surface to 237m; for greater clarity the analytical results are also reported in three separate intervals so as to identify a high-grade interval from 105 to 115m.

Bx 5

The Bx 5 breccia pipe is in the north-central part of the project and is one of six breccia pipes that will be included in our initial resource estimate (Fig. 1). The breccia pipe forms a prominent monument outcrop and extends to depths greater than 485m where mineralization remains open. Drill holes described in this release were designed to confirm shallow mineralization in the top southeastern quadrant of the breccia pipe, as well as deeper extents of mineralization probed by two holes drilled to the north from a platform located 100m south of the breccia pipe (Figs. 2 and 3). All holes intersected significant mineralization (see Figure 4 for select core photos of the mineralization).

 

2021 Resource and
Exploration Drill Program

A total of 23,947m of drilling has been completed in 2021. The objectives of this drill program are to complete resource definition drilling on six initial breccia pipes to an approximate depth of 300m and test several new exploration targets. Breccia pipes that will be included in the initial resource estimate are: Bx1, Bx 5, Bx6, Paloma East, Paloma West, and Huancarama (Fig. 1). Additional resource definition drill results for Huancarama are pending. During 2021 our drilling was focused on the north half of the project where drill permits are in place. Permitting for the south half of the project is well advanced. The southern half of the property hosts several outcropping mineralized tourmaline breccia pipes and has been recently covered by the Company’s ongoing geophysical program. Numerous targets exist, none of which have been drilled previously.

 

Geophysical Surveys

Gradient-array induced-polarization (IP) surveys have been completed over the entire 12km² footprint of the Soledad mineral system. Off-set IP surveys are now in-progress covering high priority target areas. This work complements the extensive exploration database that supports our current inventory of 110 exploration targets. This new information identifies both new targets and prioritizes existing targets that will be tested when the exploration drilling programs resume. 

 

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. A total of 60,854 metres in 261 diamond core holes for exploration and resource definition drilling have been completed since 2017, testing 16 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to base and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

 

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru.  Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24.  Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified
Person

David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

 

ON BEHALF OF THE BOARD

(signed) “David Kelley”
David Kelley
President and CEO

 

For further information contact:

Joanne Jobin, Investor Relations Officer

Phone:   647 964 0292
Email:    jjobin@chakanacopper.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts responsibility
for the adequacy or accuracy of this release.

 

Forward-looking Statement Advisory: This release may contain forward-looking
statements. Forward-looking statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results,
performance, or achievements of Chakana to be materially different from any
future results, performance, or achievements expressed or implied by the
forward-looking statements. Forward looking statements or information relates
to, among other things, the interpretation of the nature of the mineralization
at the Soledad copper-gold-silver project
(the “Project”), the potential to expand the mineralization, and
to develop and grow a resource within the Project, the
planning for further exploration work, the ability to de-risk the potential
exploration targets, and our belief in the potential
for mineralization within unexplored parts of the Project. These
forward-looking statements are based on management’s current expectations and
beliefs but given the uncertainties, assumptions and risks, readers are
cautioned not to place undue reliance on such forward- looking statements or
information. The Company disclaims any obligation to update, or to publicly
announce, any such statements, events or developments except as required by
law.

 

Figure 1 – View looking north showing outcropping breccia pipes and occurrences within the northern Soledad cluster. Pipes that will be included in the initial resource are shown in green (Bx 1, Bx 5, Bx 6, Paloma East, Paloma West, and Huancarama). Breccia pipes shown in yellow have had exploration drilling completed. Other pipes/occurrences and targets defined by other exploration data remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.  

 

Figure 2 – Map showing drill holes reported in this release and modeled breccia pipe (light red shape) based on all drill holes. Light gray contours are at 10m intervals. Blue rectangle in the inset map shows the area of Figure 2 within the overall Chakana property.

 

Figure 3 – 3D sectional view of Bx 5 looking west. Light red 3D shape shows breccia pipe geometry based on all drill holes. Previous holes drilled shown in grey traces.

 

Figure 4 – Select core photos from Bx 5 reported in this release: SDH21-244 (34.7m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-252 (33.9m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-253 (41.5m) chaotic shingle breccia with chalcopyrite-pyrite in matrix; SDH21-255 (39.6m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-256 (110.55m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite; SDH21-258 (35.45m) shingle breccia cemented with chalcopyrite-pyrite; SDH21-261 (39.25m) chaotic shingle breccia with semi-massive chalcopyrite-pyrite. Core diameter is 6.35cm (HQ) in all instances.

Thursday, November 18, 2021

Great Bear Resources (GTBAF)(GBR:CA)
The Plot Begins to Thicken

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Heading into the final stretch. Great Bear operated six drill rigs as of September 30 and is on track to drill approximately 140,000 meters in over 250 drill holes in 2021. During the first nine months, over 100,000 meters of drilling was completed. A maiden mineral resource estimate of the LP Fault from surface to 450 meters’ depth is underway and expected to be published by the end of the first quarter of 2022. Detailed geological modeling, geochemistry, structural data, and 3-D modeling has identified 23 high-grade gold domains along 4 kilometers of the central LP Fault.


Phase 2 drilling underway.  At the end of the third quarter, Great Bear had completed a total of 478 drill holes over 235,000 meters into the LP Fault target as part of its 4 kilometer long by 450-meter-deep drill program. Phase 2 drilling is underway and includes: 1) expansion drilling of the LP Fault below 450 meters depth, 2) additional infill drilling of the upper 450 meters of the LP Fault, 3) …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, November 16, 2021

Allegiant Gold (AUXXF)(AUAU:CA)
Eastside’s Growing Resource Potential

Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preparation for upcoming drilling. Allegiant Gold has started road construction in and around the recently discovered high-grade zone within the western edge of the original pit zone at its Eastside gold deposit near Tonopah, Nevada. Roads will also be built in and around areas to the east and west of the original pit zone to test additional targets.


Drilling could commence as early as December.  Allegiant has already provisioned drilling contractors and equipment. Plans include drilling up to 9 diamond core holes to define the high-grade areas discovered during the most recent drill program that ended in April. Recall Holes 239, 243, 244 and 245 returned strong gold intercepts. For example, Hole 243 returned 2.55 grams of gold per tonne over …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, November 16, 2021

Allegiant Gold (AUXXF)(AUAU:CA)
Eastside’s Growing Resource Potential

Allegiant Gold is a mid-stage exploration stage company with 10 highly prospective projects in the southwest United States, including 7 projects in the State of Nevada. Allegiant’s flagship project is Eastside, a district-scale project in Nevada with inferred resources of 1.4 million gold and 8.8 million silver ounces of inferred resources and significant potential to add size and scale. The company’s shares trade on the TSX Venture Exchange under the ticker symbol “AUAU” and on the OTCQX under the ticker symbol “AUXXF.”

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preparation for upcoming drilling. Allegiant Gold has started road construction in and around the recently discovered high-grade zone within the western edge of the original pit zone at its Eastside gold deposit near Tonopah, Nevada. Roads will also be built in and around areas to the east and west of the original pit zone to test additional targets.


Drilling could commence as early as December.  Allegiant has already provisioned drilling contractors and equipment. Plans include drilling up to 9 diamond core holes to define the high-grade areas discovered during the most recent drill program that ended in April. Recall Holes 239, 243, 244 and 245 returned strong gold intercepts. For example, Hole 243 returned 2.55 grams of gold per tonne over …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Allegiant Prepares For Expansion Drilling At Its 100% Owned Eastside Gold Deposit With Commencement Of Road Construction

 

Reno, Nevada /November 15, 2021 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of road construction in anticipation of drilling at its 100% owned Eastside Gold Deposit in Nevada (“Eastside”).

The road building is planned to commence in and around the recently discovered high-grade zone within the western edge of the Original Pit Zone (“OPZ”). Allegiant plans to drill up to nine diamond core (“Core”) holes to test the high-grade area at Eastside, where drilling returned:

• Hole 243 included 2.55 g/t Au over 147.8 metres (including 13.49 g/t Au over 24.4m)
• 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 at 418 metres
• Hole 244 included 76 metres of mineralization including 6.1m of 1.48 g/t Au
• Hole 245 included 15.2 metres of 3.4 g/t Au at a depth of 177 metres

Additional road construction will occur in and around areas to the east and west of the OPZ to test additional targets. It is expected that, in addition to the Core holes, Allegiant will drill up to 20-30 reverse-circulation (“RC”) holes at relatively shallow depths (see drill map below).

Map 1: 2021-2022 Original Pit Zone Drilling Map
https://allegiantgold.com/site/assets/files/2209/auau_eastside_2021-2022_drill_holes.jpg

Peter Gianulis, CEO of Allegiant Gold, commented: “The recently acquired permit expansion at Eastside has opened up significant drill targets in and around the Original Pit Zone. Road construction is an important next step to having the RC and Core rigs in place for this highly anticipated drilling program.”

Eastside is open in several directions and presently hosts an inferred resource of 1.09 million ounces of gold at 0.55 grams per tonne at the Original Pit Zone and an inferred resource of 314,000 gold ounces at 0.49 g/t Au in the Castle Area, both within pit-constrained models at a cut-off grade of 0.15 g/t Au, US$1,750/ounce gold price and a US$21.88 silver price. Eastside also hosts significant silver resources of 8.7 million ounces at 4.4 g/t Ag at the OPZ.

EASTSIDE RESOURCE ESTIMATE

The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (“MDA”), a division of RESPEC of Reno, Nevada with an effective date of July 30, 2021. Contained pit-constrained Inferred Resources (cut-off grade of 0.15 g/t) of 1,090,00 Au ounces in 61,730,000 tonnes at 0.55 g/t Au and 8,700,000 Ag ounces at 4.4 g/t Ag at the Original Pit Zone and 314,000 Au ounces in 19,986,000 tonnes at 0.49 g/t Au at the Castle Area. In accordance with NI 43-101, the MDA Technical Report dated July 30, 2021, was filed on SEDAR on August 16, 2021. This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December 2016), Ristorcelli (July 2017), Ristorcelli (January 2020) and Ristorcelli (November 2020) titled “Amended Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project, Esmeralda County, Nevada” prepared for Allegiant with an Effective Date of December 30, 2019.

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. 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. 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.

Allegiant Prepares For Expansion Drilling At Its 100% Owned Eastside Gold Deposit With Commencement Of Road Construction

 

Reno, Nevada /November 15, 2021 – Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of road construction in anticipation of drilling at its 100% owned Eastside Gold Deposit in Nevada (“Eastside”).

The road building is planned to commence in and around the recently discovered high-grade zone within the western edge of the Original Pit Zone (“OPZ”). Allegiant plans to drill up to nine diamond core (“Core”) holes to test the high-grade area at Eastside, where drilling returned:

• Hole 243 included 2.55 g/t Au over 147.8 metres (including 13.49 g/t Au over 24.4m)
• 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 at 418 metres
• Hole 244 included 76 metres of mineralization including 6.1m of 1.48 g/t Au
• Hole 245 included 15.2 metres of 3.4 g/t Au at a depth of 177 metres

Additional road construction will occur in and around areas to the east and west of the OPZ to test additional targets. It is expected that, in addition to the Core holes, Allegiant will drill up to 20-30 reverse-circulation (“RC”) holes at relatively shallow depths (see drill map below).

Map 1: 2021-2022 Original Pit Zone Drilling Map
https://allegiantgold.com/site/assets/files/2209/auau_eastside_2021-2022_drill_holes.jpg

Peter Gianulis, CEO of Allegiant Gold, commented: “The recently acquired permit expansion at Eastside has opened up significant drill targets in and around the Original Pit Zone. Road construction is an important next step to having the RC and Core rigs in place for this highly anticipated drilling program.”

Eastside is open in several directions and presently hosts an inferred resource of 1.09 million ounces of gold at 0.55 grams per tonne at the Original Pit Zone and an inferred resource of 314,000 gold ounces at 0.49 g/t Au in the Castle Area, both within pit-constrained models at a cut-off grade of 0.15 g/t Au, US$1,750/ounce gold price and a US$21.88 silver price. Eastside also hosts significant silver resources of 8.7 million ounces at 4.4 g/t Ag at the OPZ.

EASTSIDE RESOURCE ESTIMATE

The updated resource estimate (“Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project Technical Report, Esmeralda County, Nevada”) was conducted by Mine Development Associates (“MDA”), a division of RESPEC of Reno, Nevada with an effective date of July 30, 2021. Contained pit-constrained Inferred Resources (cut-off grade of 0.15 g/t) of 1,090,00 Au ounces in 61,730,000 tonnes at 0.55 g/t Au and 8,700,000 Ag ounces at 4.4 g/t Ag at the Original Pit Zone and 314,000 Au ounces in 19,986,000 tonnes at 0.49 g/t Au at the Castle Area. In accordance with NI 43-101, the MDA Technical Report dated July 30, 2021, was filed on SEDAR on August 16, 2021. This report builds on and supersedes the NI 43-101 reports of Ristorcelli (December 2016), Ristorcelli (July 2017), Ristorcelli (January 2020) and Ristorcelli (November 2020) titled “Amended Updated Resource Estimate and NI 43-101 Technical Report, Eastside and Castle Gold-Silver Project, Esmeralda County, Nevada” prepared for Allegiant with an Effective Date of December 30, 2019.

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. 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. 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.

Friday, November 12, 2021

Comstock Mining (LODE)
Comstock’s Transformation is Well Underway

Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Poe Fratt, Senior Research Analyst, Logistics, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Corporate update. Comstock recently hosted a virtual investor meeting to discuss innovations in lithium-ion battery recycling, lithium extraction, cellulosic extraction for producing biofuels, and the restart of its mercury remediation operations in the Philippines. Management has spent the last six months accelerating plans for lithium recycling and cellulosic fuels with fully operational prototypes expected in the first and second quarters of 2022.


Cellulosic fuels business will be the largest in Comstock’s portfolio.  The first facility in Minnesota is expected to be operational in 2023. It will convert woody biomass into ethanol, biodiesels, and marine fuels. Comstock expects to have a cellulosic extraction prototype operational at Comstock’s Plain Sight Innovations (PSI) laboratory in Wisconsin in March or April. Management mentioned that …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Friday, November 12, 2021

Comstock Mining (LODE)
Comstock’s Transformation is Well Underway

Comstock Mining Inc. is an emerging innovator and leader in the sustainable extraction, valorization, and production of scarce natural resources, with a focus on high value strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Poe Fratt, Senior Research Analyst, Logistics, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Corporate update. Comstock recently hosted a virtual investor meeting to discuss innovations in lithium-ion battery recycling, lithium extraction, cellulosic extraction for producing biofuels, and the restart of its mercury remediation operations in the Philippines. Management has spent the last six months accelerating plans for lithium recycling and cellulosic fuels with fully operational prototypes expected in the first and second quarters of 2022.


Cellulosic fuels business will be the largest in Comstock’s portfolio.  The first facility in Minnesota is expected to be operational in 2023. It will convert woody biomass into ethanol, biodiesels, and marine fuels. Comstock expects to have a cellulosic extraction prototype operational at Comstock’s Plain Sight Innovations (PSI) laboratory in Wisconsin in March or April. Management mentioned that …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Thursday, November 11, 2021

InPlay Oil (IPOOF)(IPO:CA)
Operations Hitting On All Cylinders, Price Target Raised

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

InPlay reported 2021-3Q results that surpassed almost every expectation. Production volumes of 6,011 BOE/day (up 61% yoy) beat our 5,932 BOE/day estimate. Realized oil prices of C$75.82/bbl and gas prices of C$3.89/mcf topped our C$73.14/bbl and C$3.18/mcf estimates. Higher prices resulted in strong cash flow results because several lower-priced oil and gas hedges rolled off after the second quarter. Adjusted fund flow of $15.6 million (up 680%) surpassed our $13.2 million est. Adjusted free fund flow (which subtracts off capital expenditures) was $5.1 million versus $1.6 million, in line with our estimate even as the company expanded its drilling program. EPS was $0.12 versus $(0.04) ahead of our $0.09 est. due to strong operating results.


Prairie Storm acquisition looks like a winner.  On September 28th, InPlay announced the acquisition of Prairie Storm for C$40.5 million to be paid with 8.3 million common shares and cash. The acquisition expands InPlay’s Cardium play and is immediately accretive to earnings and cash flow at current energy prices. The acquisition brings InPlay an immediate production and cash flow boost as well as a …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Thursday, November 11, 2021

InPlay Oil (IPOOF)(IPO:CA)
Operations Hitting On All Cylinders, Price Target Raised

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

InPlay reported 2021-3Q results that surpassed almost every expectation. Production volumes of 6,011 BOE/day (up 61% yoy) beat our 5,932 BOE/day estimate. Realized oil prices of C$75.82/bbl and gas prices of C$3.89/mcf topped our C$73.14/bbl and C$3.18/mcf estimates. Higher prices resulted in strong cash flow results because several lower-priced oil and gas hedges rolled off after the second quarter. Adjusted fund flow of $15.6 million (up 680%) surpassed our $13.2 million est. Adjusted free fund flow (which subtracts off capital expenditures) was $5.1 million versus $1.6 million, in line with our estimate even as the company expanded its drilling program. EPS was $0.12 versus $(0.04) ahead of our $0.09 est. due to strong operating results.


Prairie Storm acquisition looks like a winner.  On September 28th, InPlay announced the acquisition of Prairie Storm for C$40.5 million to be paid with 8.3 million common shares and cash. The acquisition expands InPlay’s Cardium play and is immediately accretive to earnings and cash flow at current energy prices. The acquisition brings InPlay an immediate production and cash flow boost as well as a …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Wednesday, November 10, 2021

Endeavour Silver (EXK)(EDR:CA)
Expecting A Strong Finish to the Year

As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Third quarter 2021 results. Endeavour reported a third quarter net loss of $4.5 million, or $(0.03) per share, compared to net income of $451 thousand, or $0.00 per share, during the prior year period. We had projected net income of $790 thousand or $0.00 per share. Mine operating earnings were $1.4 million lower than our estimate primarily due to lower revenue and higher depreciation, depletion, and amortization expense. The financial results were not indicative of operations since the company withheld a significant amount of production for inventory due to lower commodity prices which it expects to sell during the fourth quarter. At quarter end, Endeavour held 1,030,304 ounces of silver and 1,211 ounces of gold bullion inventory and 37,100 ounces of silver and 2,028 ounces of gold in concentrate inventory.


Updating estimates.  We have increased our 2021 EPS and EBITDA estimates to $0.02 and $44.4 million, respectively, from $0.01 and $42.9 million. The revision reflects stronger fourth quarter earnings due to sales from inventory. Our 2022 EPS and EBITDA estimates remain $0.15 and $67.2 million …

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Wednesday, November 10, 2021

Sierra Metals (SMTS)(SMT:CA)
Third Quarter Results May Be An Inflection Point

As of April 24, 2020, Noble Capital Markets research on Sierra Metals is published under ticker symbols (SMTS and SMT:CA). The price target is in USD and based on ticker symbol SMTS. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

SMTS reports third quarter financial results. Sierra Metals generated an adjusted loss of $(0.02) per share and EBITDA of $17.4 million, compared to our EPS and EBITDA estimates of $0.06 and $29.5 million, respectively. On an unadjusted basis, Sierra Metals reported a loss of $(0.03) per share. Performance at the Bolivar mine has been negatively impacted by delays in mine development, infill drilling, and high personnel turnover. We did not anticipate a loss from mining operations at Bolivar where all in sustaining costs per copper equivalent pound were impacted by higher operating costs per tonne, sustaining capital, general and administrative costs, and treatment and refining costs. Development of higher-grade ore bodies is underway and we expect continued improvement with a return to normalized operations and earnings power within a quarter or two.


Updating estimates.  Management revised its full year EBITDA guidance to $105 million to $110 million from $130 million to $140 million due to a lower contribution from Bolivar which is now expected to generate EBITDA in the range of $22 million to $26 million. We have revised our 2021 EPS and EBITDA estimates to $0.13 and $105.7 million, respectively, from $0.25 and $127.6 million. We have also …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.