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ALLEGIANT Gold Announces Drilling Plans
VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“ALLEGIANT”) (TSX-V:AUAU) is pleased to announce its drilling plans, which i
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[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“ALLEGIANT”) (TSX-V:AUAU) is pleased to announce its drilling plans, which include resource expansion drilling at its flagship project Eastside, currently in progress, and high-impact discovery drilling at nine of ALLEGIANT’s other gold projects located primarily in the mining-friendly jurisdiction of Nevada. “We’re pleased to announce ALLEGIANT’s drilling plans,” said Robert Giustra, Chairman of ALLEGIANT. “Our goals are twofold, to double the in-pit ounces at Eastside while reducing the strip ratio, and to make a new, significant discovery at any one of the other nine high-priority gold projects that we plan to drill.” Drilling at Eastside, consisting of up to 38 core and rotary drill holes in approximately 20,000 metres of drilling, is in progress and will continue into the third quarter of 2018. Drilling at Eastside will be conducted in parallel with “discovery” drilling at the following high-priority gold projects, in the order listed: Monitor HillsThe Monitor Hills project is owned 100% by ALLEGIANT and is located approximately 35km east-southeast of Tonopah, Nevada. Surface sampling at Monitor Hills has identified eight target areas where gold values in outcrop exceed 1 g/t gold. In addition, several gold anomalies (values from 20-245 ppb gold) were identified in mostly covered areas that are up to 300 metres long and up to 100 metres wide. Two historic drill holes were located on the extreme southeast corner of the claims but the results are unknown. However, the areas of interest identified by ALLEGIANT have never been drilled. ALLEGIANT is targeting Carlin-type gold mineralization at Monitor Hills and plans to drill up to 10 rotary drill holes, totaling up to 2,100 metres. Hughes CanyonThe Hughes Canyon project is 100% owned by ALLEGIANT and is located approximately 48km east-southeast of Lovelock, Nevada. The geologic setting of Hughes Canyon is analogous to nearby sediment-hosted gold deposits like the Florida Canyon/Standard mine, the Willard prospect, and the Relief Canyon mine. Independence Mining (Freeport) and Noranda intercepted gold mineralization in historical drilling on parts of Hughes Canyon but they drilled vertical holes. ALLEGIANT believes that the higher-grade gold mi...