Thursday, May 27, 2021
Allegiant Gold
Allegiant Gold Ltd (AUXXF)(AUAU:CA)
High-Grade Drill Results Could Be a Game Changer for Eastside
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.
Refer to the full report for the price target, fundamental analysis, and rating.
Drill results from the Original Pit Zone (OPZ). Allegiant released results from its 9-hole drill program, representing 3,673 meters of drilling, at the Original Pit Zone at its Eastside project in Nevada. Strong gold intercepts were reported for Holes 239, 243, 244 and 245. Mineralization was encountered in 7 of the 9 holes. Hole 243, a 100-meter step-out from the closest hole in the OPZ, included 2.55 grams of gold per tonne over 147.8 meters and 3.17 grams of gold per tonne over 117.3 meters. Hole 239 included 111.3 meters of 1.45 grams of gold per tonne, including 3.1 meters of 39 grams of gold per tonne at the bottom of the hole.
More drilling at the OPZ may be warranted. While the Eastside project is generally conceptualized as a low-grade, bulk tonnage open pit mining scenario, the impressive grades may signal a game-changer for project economics. While there are significant opportunities to continue to develop the original pit zone by expanding the permitted area, recent results indicate more drilling may be warranted …
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.
