Wednesday, June 22, 2022
Allegiant Gold (AUXXF)
Core Drilling Begins in the High-Grade Zone
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three 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.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Core diamond drill program begins. Allegiant Gold commenced a diamond core drilling program at Eastside and expects to drill 7 to 9 diamond core holes with an average depth of 600 meters. The hole locations and design were jointly selected by Allegiant and the exploration team at Kinross. The core holes will be in the high-grade zone discovered during the 2021 drill program within the original pit zone.
Assessing Eastside’s high-grade potential. Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245. With the recent investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside’s high-grade potential….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
