ALLEGIANT High-Impact Drilling Campaign; North Brown
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NEWS RELEASE
ALLEGIANT High-Impact Drilling Campaign; North Brown
Vancouver, BC, Canada, January 28 , 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX -V)
(AUXXF: OTCQX) reports on the progress of its high -impact discovery drilling campaign. A total of 6
projects located principally in the world -class gold mining jurisdiction of Nevada are slated for drilling
over a 10-12 month period, to approximately June 2019. Drilling commenced at the Red Hills project
in August 2018 and drilling at a third project, North Brown, was completed in December 2018. The
North Brown gold project is located on the Battle Mountain Gold Trend in Nevada, and as a result of
additional staking, it is now contiguous and adjoining ALLEGIANT’s Browns Canyon Project. Moving
forward the combined projects, which essentially form part of the same gold system, will be one
project named Browns Canyon.
ALLEGIANT completed 2,036 meters of preliminary rotary drilling in 11 holes at the North Brown
geochemical gold anomaly at the Browns Canyon project, in addition to geophysics, and geological
interpretation. Although there were no reportable gold intercepts from any of the holes, this new
work allowed ALLEGIANT to better understand the North Brown gold anomaly, with a view to
targeting the source of the gold in the next round of drilling of Browns Canyon.
Excellent grade gold samples (from nil up to 9 g/t gold) at the North Brown gold anomaly are in
angular, altered fragments, up to 0.3 meters in diameter, in a carbonate breccia horizon in the
Devonian sequence. The breccia lies between massive limes tone and siltstone. The breccia is
thought to be along a flat fault and gold only occurs in some of the breccia fragments and not in the
matrix of the breccia. The breccia is from 10 meters to 16 meters thick and was cut in several drill
holes but only returned weakly anomalous drill intercepts (up to a maximum of 0.04 g/t gold).
ALLEGIANT believes the mineralized fragments in the breccia are transported along a flat fault from
a local source near the North Brown anomaly. Field work and additional geo physical work will
continue to discover the source of the mineralized breccia fragments.
Additional surface sampling over the expanded Browns Canyon project area has now yielded a total
of 5 separate geochemical anomalies with significant gold. Initial sampling at Anomaly 5 was
particularly encouraging. Gold samples up to 3.2 g/t gold occur at Anomaly 5 in outcrops and float
chips of jasperoid and iron-stained breccia along faults in a northeasterly zone about 760 meters long
and about 50 meters wide. Anomaly 5 has never been drilled and presents an excellent target for
Carlin-type gold mineralization. ALLEGIANT plans to carry -out additional surface sampling, trenching,
and drilling at Browns Canyon. A sample map showing the location of the gold anoma lies at Browns
Canyon can be viewed at the following link:
www.allegiantgold.com/nr/2019-01-28-map.pdf
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional
Geologists and is a Qualified Person as defined under National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects . Mr. Wallace has reviewed a nd approved the technical content of this
press release.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly -prospective drill -ready gold projects in the United States, 9 of
which are located in the mining -friendly jurisdiction of Nevada. ALLEGIANT is one o f the most active
explorers in the gold sector; three projects with “discovery” potential have been drilled since August
2018, and at least four more are planned to be drilled in 2019. 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 www.allegiantgold.com
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts 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. Forward -looking
statements are statements and information regardin g possible events, conditions or results of operations that are based
upon assumptions about future economic conditions and courses of action. All statements and information other than
statements of historical fact may be forward -looking statements. In som e cases, forward -looking statements can be
identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”,
“intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases
(including negative variations) suggesting future outcomes or statements regarding an outlook. Forward -looking
statements in this and other press releases include, but are not limited to statements and information regar ding: Allegiant
Gold Ltd.’s (“Allegiant”) property holding costs savings or income generated from optioning out certain properties;
Allegiant’s drilling and exploration plans for its properties, including anticipated costs and timing thereof; the potential of
hosting good grade gold mineralization or expansion; Allegiant’s belief with respect to North Brown anomalies and the
related transportation of mineralized fragments, including the discovery of the source of the mineralized breccia
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fragments; Allegi ant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations
regarding future maintenance and capital expenditures, working capital requirements; and Barrian’s plan to complete an
initial public offering and its acquis ition of certain properties. Such forward -looking statements are based on a number of
material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause
actual results, performance or achievements, or indu stry results, to differ materially from those anticipated in such
forward-looking information. You are cautioned not to place undue reliance on forward -looking statements contained in
this press release. Some of the known risks and other factors which coul d cause actual results to differ materially from
those expressed in the forward -looking statements are described in the sections entitled “Risk Factors” in Allegiant’s
Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under
Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in
such statements. Allegiant undertakes no obligation to update or revise any forward -looking statements include d in this
press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required
by applicable law.
BROWNS CANYON PROJECT, NEVADA
www.allegiantgold.com