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Allegiant Gold Ltd.
Summary
| Project: | Monitor Hills | |
|---|---|---|
| Deposit: | Monitor Hills | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 4/17/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 17-4-2019: Allegiant Gold Ltd. announces an Exploration/Drilling Update report for its Monitor Hills deposit at the Monitor Hills project. No significant assays returned from drilling. Vancouver, BC, Canada, April 17, 2019, Allegiant Gold Ltd. ("ALLEGIANT | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Andy Wallace (Internal) | |
| ABSTRACT: | Vancouver, BC, Canada, April 17, 2019, Allegiant Gold Ltd. ("ALLEGIANT") (AUAU: TSX-V) (AUXXF: OTCQX) reports that it has completed drilling at its Adularia Hill gold project located in Nevada. ALLEGIANT completed 21 RC holes totaling 3,170 meters at Adularia Hill; assays are pending. ALLEGIANT also reports that it has received assays from drilling carried-out at its Monitor Hills project, located in Nevada. Drilling at Monitor Hills encountered broad zones of anomalous gold but better grade gold was only present in narrow 1.5 to 3 meter intervals. Overall the drilling results are considered too low-grade, and in the context of prioritizing expenditures on ALLEGIANT’S large portfolio of prospective exploration properties, ALLEGIANT will assess its future plans for Monitor Hills. ALLEGIANT plans drilling at a total of six "discovery potential" projects located principally in the worldclass gold mining jurisdiction of Nevada. The drilling campaign was initiated at the Red Hills project in August 2018; Adularia Hill was the 5th project to be drilled. Adularia Hill is located within ALLEGIANT's Eastside claim block, about 12 km south of the Original Zone gold deposit, approximately 2 km north of the past producing open-pit-heap-leach Boss Mine, and some 2 km north of Castle, which hosts an historical gold resource. The Adularia Hills target was discovered during geologic and alteration mapping by ALLEGIANT followed by surface sampling of outcrop and float. ALLEGIANT collected 150 surface samples in an ovoid area about 1,400 meters by 850 meters. Thirty of the 140 samples contained gold values ranging from 0.1 to a maximum of 1.5 g/t gold. Gold occurs in and along structures and silica ribs with associated stockworks of quartz and adularia veining. The mineralized structures cut Tertiary andesite, tuffs, rhyolite plugs and flow domes, and Ordovician basement rocks. Outcrops make up about 20-30% of the target area with the rest covered by shallow alluvium. | |
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