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Allegiant Gold Ltd
Symbol AUAU
Shares Issued 77,682,608
Close 2021-02-23 C$ 0.26
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Allegiant Gold begins drilling Original Pit zone

2021-02-23 08:12 ET - News Release

Mr. Peter Gianulis reports


Drilling has started at Allegiant Gold Ltd.'s Original Pit zone at Eastside, the company's flagship project, 30 kilometres northwest of Tonopah, Nev.

Peter Gianulis, chief executive officer of Allegiant Gold, commented: "We are very excited to commence drilling at the Original Pit zone where we plan to drill approximately 10 to 13 holes totalling approximately 5,000 metres. As we announced in January, 2021, our plan is to continue drilling at Eastside with the possibility to expand upon our inferred resource base of 57 million tonnes grading 0.54 g/t [gram per tonne] Au (approximately one million gold ounces inferred) at Eastside. Upon completion of this drilling, we expect to incorporate these results with our recently completed, 6,000-metre drilling campaign at the Castle area in the south of Eastside and to file an updated NI [National Instrument] 43-101 resource estimate."

Allegiant has retained Boart Longyear to complete the drill program.

Qualified person

Andy Wallace is a certified professional geologist (CPG) with the American Institute of Professional Geologists and is the qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, who has reviewed and approved the scientific and technical content of this press release.

About Allegiant Gold Ltd.

Allegiant owns 100 per cent 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.

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