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Allegiant Gold Ltd.
Summary
| Project: | Eastside | |
|---|---|---|
| Deposit: | Eastside | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 1/27/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-1-2020: Allegiant Gold Ltd. announces a Resource Estimation report for its Eastside deposit at the Eastside project. Updated mineral resource estimate, 52% increase from previous estimate. Vancouver, BC, Canada, January 27, 2020, Allegiant Gold Ltd. (“ | |
| Resources: | (Resource, Inf.): 57.05Mt @ 0.54g/t Au, 4.3g/t Ag at Eastside | |
| CP/QP: | [Resources]: Steven J. Ristorcelli (Mine Development Associates) | |
| ABSTRACT: | Vancouver, BC, Canada, January 27, 2020, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce a significant increase in inferred resources at its district-scale flagship, Eastside project near Tonopah, Nevada. The updated resource incorporates an additional 22 holes drilled at the Original Zone. Andy Wallace, ALLEGIANT technical advisor, oversaw the incorporation of the additional 22 drill holes into the updated resource estimate. “We continue to be pleased with the progress being made at Eastside and are looking forward to expanding the operating permit. This will allow us to explore the additional targets we have outlined with the goal of increasing resources. We will also continue to explore the areas immediately adjacent to the Original Zone as the deposit is still clearly open to the south, west, and at-depth, and possibly east and north.,” commented Mr. Wallace. The resources in the table below reflect the estimate of Inferred gold equivalent resources at Eastside at a base case cut-off grade of 0.15 g/t gold as well as other cut-off grade levels which approximates anticipated economic cutoffs based on preliminary metallurgical test work and operations cost estimatesfor an envisioned open-pit with combined heap-leach and milling scenario. To determine the "reasonable prospects for eventual economic extraction" MDA chose to report the resource considering per tonne mining costs of US$1.35 and G&A costs of US$0.50 respectively. Heap-leach and milling costs used were US$4.60 and US$10.40, respectively. The prices of gold and silver were US$1,550 and US$19.67 per ounce, respectively, with gold equivalent ounces using a silver/gold ratio of 80:1. MDA ran a series of optimized pits using variable gold and silver prices, mining costs, processing costs and processing scenarios. | |
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