Allegiant Commences 2023 Exploration Program at Goldfield WEST
ALLEGIANT COMMENCES 2023 EXPLORATION PROGRAM AT GOLDFIELD WEST
Tonopah, Nevada / April 19, 2023 - Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V)
(AUXXF: OTCQX) is very pleased to announce that it has begun its 2023 exploration program at the
Goldfield West Project that lies just outside of Goldfield, Nevada.
The exploration program will consist of mapping and sampling of selected target areas to follow-up on
the geophysical surveys conducted in the fall of 2022 and included airborne magnetic and surface CSAMT
(controlled source audio-magnet—telluric) surveys. After the results have been analysed and interpreted,
Allegiant plans to drill test several targets that have been identified from the field work.
Peter Gianulis, CEO of Allegiant Gold, commented: “We have spent the past year preparing for the
upcoming drill program at Goldfield West including a detailed geophysics survey completed late last year.
The resulting sampling program and subsequent assays will be used to determine the location of our drill
program set to commence in the summer of 2023. Goldfield West is situated in one of the most
prospective and exciting gold districts in Nevada, including the Gemfield project. We look forward to the
upcoming results and the start of the drill program.”
GOLDFIELD WEST PROJECT
Allegiant’s Goldfield West project is located in the Goldfield District, Esmeralda County Nevada a few
miles from the Gemfield Gold Project owned by Centerra Gold . Goldfield West shows epithermal
alteration associated with highly anomalous to ore-grade gold mineralization both at the surface and in
drill intercepts from the late 1980s.
A north-northeast trending zone of alteration in the southern portion of Allegiant’s claim block extends
for 1.9km. Historical drilling along this zone shows mineralized intercepts in many of the drill holes over
a 1.2km strike length. Drilling by US Borax/Kennecott, in this area, showed gold values up to 8.7 gpt and
up to 18.6 gpt silver over 1.5 m hosted in volcanic rocks. Geophysical surveys conducted in 2022 show
north-northeast structural trends which suggest these structures are the conduits for mineralizing fluids.
Allegiant has designed a program of geochemical rock chip sampling for assaying and spectral analyses.
The spectral analysis will identify zone of higher temperature minerals indicating areas of mineralizing
fluids. Results from the rock chip sampling (both assays and spectral mineral identification), geophysical
surveys, geologic mapping and historical drilling results will be compiled to identify drill targets for a drill
program later this year.
QUALIFIED PERSON
Alan Roberts is a Certified Professional Geologist (CPG) with the American Institute of Professional
Geologists and is the Qualified Person under NI 43-101, Standards of Disclosure for Mineral Projects, who
has reviewed and approved the scientific and technical content of this press release.
ABOUT ALLEGIANT
Allegiant owns seven highly-prospective gold projects in the United States, five of which are located in
the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are currently farmed -out,
providing a combination of cash-flow potential and work programs. 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.
ON BEHALF OF THE BOARD
Peter Gianulis
CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
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the adequacy or accuracy of this release.
Certain statements and information contained in this press release constitute "forward-looking statements" within the meaning of applicable U.S. securities
laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as "forwar d-looking
statements". The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Allegiant Gold
Ltd.’s (“Allegiant”) exploration plans for its gold exploration properties, the drill program at Allegiant’s Eastside project, the preparation and publication of an
updated resource estimate in respect of the Original Zone at the Eastside project, Allegiant’s future exploration and development plans, including anticipated
costs and timing thereof; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance
and capital expenditures, and working capital requirements. Forward-looking statements are statements and information regarding possible events,
conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information
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