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Allegiant Gold Initiates Plan-of-Operations at Castle Area to Further Expand Permitted Area at Eastside
RENO, Nev., April 12, 2022 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commen
About this update from A2 Gold Corp.
[{"type":"text","content":" RENO, Nev., April 12, 2022 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commencement of a Plan-of-Operations at the Castle Area within their Flagship Eastside Project near Tonopah, Nevada expanding the potential permitted area to approximately 1,648 acres. The Castle Area is comprised of 130 claims encompassing an area of approximately 2,600 acres, and includes four deposits: Berg, Blackrock, Boss and Castle. The Castle Area denotes the southernmost part of Allegiant’s Eastside Project and is contiguous to the other claims at Eastside. In late 2020 and early 2021, Allegiant drilled 49 reverse circulation (“RC”) holes at the Castle Area for a total of 5,850 metres with the following highlights: 47 holes encountered mineralization within 45m from surface; Significant intercepts included: 5m of 1.85 g/t Au from Hole ES-196 14m of 1.08 g/t Au from Hole ES-202 4.5m of 2.32 g/t Au from Hole ES-211 3.6m of 2.00 g/t Au from Hole ES-216 1.5m of 3.86 g/t Au from Hole ES-222 The Castle Area hosts an inferred resource of 314,000 gold ounces at 0.48 g/t within a pit-constrained model using a cut-off grade of 0.15 g/t gold, US$1,750/ounce gold price and a US$21.88 silver price.* Peter Gianulis, CEO of Allegiant Gold, commented: “The commencement of a Plan-of-Operations is an important next step in the development of the Castle Area at Eastside allowing us to dramatically increase drilling and technical work. We have applied to expand the permitted area from 5 acres to over 1648 acres. Our goal at the Castle Area in the next stage of exploration will be to expand the existing resource, upgrade a portion from Inferred to Measured and Indicated, as well as conduct more advanced metallurgical work in anticipation of an eventual preliminary economic assessment.” *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”) 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 at 61,730,000 tonnes at 0.55 g/t Au and 8,700,000 Ag ounces at 4.4 g/t Ag at t...