Movers and SHAKERS
Allegiant Gold (AUXXF)(AUAU:CA)
More Good News on the Horizon?
Allegiant Gold Ltd is a gold exploration company. Its project profile consists of Bolo, Browns Canyon, Clara Moro, Four Metals, Monitor Hills, Red Hills, Silver Dome, West Goldfield, White Horse Flats, Mogollon, Eastside, Dutch Flat, and others.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
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Encouraging drill results from the Castle Zone. Allegiant released results for 49 exploration reverse circulation (RC) drill holes, representing 5,850 meters of drilling in the Castle Zone and around the Boss pit located within the company’s Eastside gold project. The drilling confirmed significant surface oxide gold material and encountered a shallow gold zone which begins within 30 meters’ depth and continues for 20 to 40 meters in thickness. Of the 49 holes drilled, 47 encountered mineralization within 45 meters' depth.
More drilling results to follow. In April, the company completed a 9-hole drilling program representing approximately 3,800 meters of drilling near the original pit zone. We expect results to be released soon. There are significant opportunities to continue to develop the original pit zone by expanding the permitted area. The company has been working with the Bureau of Land Management and we think ...
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