Allegiant Commences Core Drilling Program at Eastside - High Grade Zone
ALLEGIANT COMMENCES CORE DRILLING PROGRAM AT
EASTSIDE - HIGH GRADE ZONE
Reno, Nevada /June 21, 2022 - Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V) (AUXXF: OTCQX)
is pleased to announce the commencement of our diamond core drilling program (“Core”) at Eastside which will
consist of 4,000+ metres. In addition, the Company has recently completed the previously announced 6,700 metre
reverse-circulation (“RC”) drilling program at Eastside.
Commencement of Diamond Core Drill Program
Allegiant expects to drill 7-9 diamond core holes in this program with an average depth of 600 metres for a total of
4,000-5,000 metres. The hole locations and design were jointly selected together with the exploration team at
Kinross. The Core holes will be located in the High Grade Zone (“HGZ”) discovered during 2021 drill program
completed within the Original Pit Zone (“OPZ”) at Eastside that yielded the following results:
• Hole 243 included 2.55 g/t Au over 147.8 metres (3.17 g/t Au over 117.3m)
• Hole 239 included 111.3m of 1.45 g/t Au including 3.1 metres of 39 g/t Au at the bottom of the hole.
• Hole 244 included 76 metres of mineralization with best intercept being 6.1m of 1.48 g/t Au
• Hole 245 included 15.2 metres of 3.4 g/t Au from relatively shallow depths (177m)
MAP 1: DRILL TARGETS
https://allegiantgold.com/site/assets/files/2209/auau_eastside_2021-2022_drill_holes.jpg
Completion of RC Program at Eastside
In June 2022, Allegiant completed a 32-hole, 6,703 metre drill program designed to test new exploration targets at
Eastside focusing on the East Pediment (21 holes) and the West Anomaly (11 holes). The targets lie to the east and
west of the OPZ and were based on geophysical and geochemical anomalies. Drilling was conducted by Boart
Longyear using a Foremost MPD 1500, track-mounted rig. Given the current high demand for assays in the Western
U.S., the Company is still awaiting the results from this program, but they will be released upon receipt and
evaluation.
Peter Gianulis, CEO of Allegiant Gold, commented: “We are excited to have started our much-anticipated diamond
core drilling to follow up on our successful drill program last year that led to the discovery of the HGZ. We also
look forward to the results of our recently completed RC drill program and have tentatively scheduled the return
of our RC rig for October 2022 in order to continue drilling additional targets based on assays. Together with the
Core program, we would expect to be drilling for the remainder of this year.”
QUALIFIED PERSON
Andy Wallace 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 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.
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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responsibility for 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 "forward-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
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