Allegiant Gold (AUXXF) – East Pediment Drilling Highlights Eastside’s Discovery Potential

Natural Resources
0 min read

Thursday, September 22, 2022

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.

Reverse Circulation (RC) drilling program. Allegiant completed a 32-hole RC drill program focusing on two areas outside the Original Pit Zone, including the East Pediment and Western Anomaly. Twenty-one holes were drilled on the East Pediment at an average depth of 203 meters and 11 holes were drilled on the Western Anomaly at an average depth of 223 meters. The company will conduct a follow-up RC drill program consisting of approximately 20 holes for a total of 5,000 additional meters of drilling. The rig is expected to arrive on site around October 20.

East Pediment discovery. Drilling on the East Pediment encountered mineralized rhyolite with assays returning values above 0.1 gram of gold per tonne over 51.5 meters of the 242-meter length of Hole ES-258. Intercepts include 86.4 to 93.9 meters averaging 1.3 grams of gold per tonne, including 86.4 to 87.9 meters averaging 4.4 grams of gold per tonne, along with 197 to 229 meters averaging 0.28 grams of gold per tonne. Allegiant intends to drill a grid pattern of offset holes in all directions around Hole ES-258 in late October 2022. The best intercepts associated with the West Anomaly were 34.8 to 45.4 meters averaging 0.93 grams of gold per tonne in Hole ES-268 and 76.7 to 83.8 meters averaging 1.4 grams of gold in Hole ES-264.

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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. 


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