Allegiant Gold Ltd. (TSXV:AUAU) has drilled a new discovery of mineralised rhyolite at the East Pediment, Eastside Project, Tonopah, Nevada.
The new discovery has led the company to stake an additional 194 mining claims near hole ES-258 within an area of similar geology.
Eastside Project Highlights:
- Discovery of new mineralization with 0.1 g/t Au over 51.5m including 7.5m averaging 1.3g/t Au
- Staking of additional 194 federal lode mining claims near Hole ES-258
- Follow-up reverse circulation (RC) drilling programme to commence in October 2022 Ongoing deep diamond drill core program in the Original Pit Zone (OPZ)
- Project wide airborne magnetic survey to be conducted in 6 weeks
“We are excited to have made a new discovery outside of the OPZ at Eastside from this recently completed RC drill programme,” CEO, Peter Gianulis, said.
“In continuation to our philosophy that exploration drilling is key to making new discoveries, we were proud to have completed this extended exploration program intended to expand the resource potential at Eastside.
“The project continues to surprise us, we believe that additional discoveries will be made as we conduct additional exploration including the current 4,000m DDH program upon which we are focused.”
The company has also staked an additional 194 claims that it believes are of strategic importance in relation to our new discovery.
The OPZ at Eastside presently hosts a current NI 43-101 pit-constrained Inferred resource of 1.1 million ounces of gold and 8.7 million ounces of silver and is open at depth and to the south, east and west.
Allegiant completed a 31-hole, 7,800 m RC drill programme focusing on two areas outside the OPZ focusing on the East Pediment and Western Anomaly areas. 21 holes were drilled at the East Pediment at an average depth of 203 m and 11 holes were drilled at the Western Anomaly at an average depth of 223 m.
The company has contracted Boart Longyear to conduct a follow-up RC program consisting of approximately 20 holes for a total of 5000 additional meters. The rig is expected to arrive on site on, or around, October 20, 2022.
For further information please visit: https://allegiantgold.com/
