Friday, December 16, 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.
Drilling at the East Pediment prospect. In late November, Allegiant Gold commenced a follow-up reverse circulation drilling program at the company’s East Pediment prospect to follow up on this year’s discovery of mineralized rhyolite with assays from Hole ES-258 returning intercepts of up to 4.4 grams of gold per tonne. Permits allow for up to 27 reverse circulation drill holes. To allow time for analysis of assay results, the program will be conducted in phases with the first phase comprised of 5 to 6 holes representing 2,000 meters of drilling.
Discovery Hole ES-258. The new discovery led Allegiant to stake an additional 194 mining claims covering parts of the pediment near Hole ES-258. Importantly, mineralization is open at depth where the bottom of Hole ES-258 returned 4.5 meters averaging 0.26 grams of gold per tonne and 13.66 grams of silver per tonne.
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