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Allegiant Gold Prepares for Expansion Drilling at Its 100% Owned Eastside Gold Deposit With Commencement of Road Construction
RENO, Nev., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce the commenc
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[{"type":"text","content":" RENO, Nev., Nov. 15, 2021 (GLOBE NEWSWIRE) -- 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://www.dropbox.com/s/50v5oy5tfeug74h/AUAU%20-%20Eastside%202021-2022%20Drill%20Holes.jpg?dl=0 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”),...