World News: 13:00 GMT Wednesday 17th April 2019. [Allegiant Gold Ltd. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, April 17, 2019 (GLOBE NEWSWIRE) -- 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 world-class 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.
There was no previous drilling at Adularia Hill.
ALLEGIANT owns 100% of 11 highly-prospective drill-ready gold projects in the United States, 8 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT is one of the most active explorers in the gold sector; five projects with "discovery potential" have been drilled since August 2018. ALLEGIANT's flagship Eastside project hosts a large and expanding gold resource, is district scale, 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.
Further information regarding ALLEGIANT can be found at
ON BEHALF OF THE BOARD,
Robert F. Giustra Chairman & CEO
For more information contact:
Investor Relations(604) 634-0970 or1-888-818-1364
Globe Newswire: 13:00 GMT Wednesday 17th April 2019
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