Allegiant Identifies Significant Lithium-Boron Anomaly IN the BIG Smoky Valley; Initiates Second Geochemical Sampling Phase
ALLEGIANT IDENTIFIES SIGNIFICANT LITHIUM-BORON ANOMALY IN THE BIG
SMOKY VALLEY; INITIATES SECOND GEOCHEMICAL SAMPLING PHASE
Tonopah, Nevada / May 11, 2023 - Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX-V)
(AUXXF: OTCQX) is very pleased to announce that an initial sediment sampling program over
approximately half of its recently staked TS Prospect has indicated a significant Lithium-Boron anomaly
along the western margin of the Big Smoky Valley basin.
Allegiant has received very encouraging sample assay results from 250 samples taken over the northern
half of the TS Prospect (see Map 1). The Company is continuing the program on the claims covering the
southern half of the project. The aggregated results and interpretation will be used to design a reverse-
circulation (RC) drill program planned to occur later this year.
TS Prospect Highlights
• Approximately 1km long coincident Lithium (Li) and Boron (B) anomalies in sediments (see Map
2).
• Sample assays up to 342ppm Li and 171ppm Boron.
• Anomaly trends indicate a primary northwest–southeast and secondary north-south trend that
may be associated with buried structures.
• Sampling has begun covering the remainder of the TS claims.
Peter Gianulis, CEO of Allegiant Gold, commented: “The TS Claims evolved as a result of our exploration
efforts at Eastside where we continue to grow our gold and silver resource. We are very much aware of
the immense amount of lithium exploration activity around our projects. We have been pleasantly
surprised by the Lithium values from near surface which are comparable to other lithium results by
companies from drilling. We look forward to providing the market with additional information over the
coming months.”
MAP 1: TS CLAIMS MAP
https://allegiantgold.com/site/assets/files/2209/eastside_project_and_ts_claims_2023_03_20.jpg
MAP 2: GEOCHEMISTRY MAP
https://allegiantgold.com/site/assets/files/3327/alg_eastside_tsclaims_samples_lippm_230502v3.jpg
TS Prospect
The TS (Travertine Sinter) Prospect lies approximately 2.2 kilometres east of the eastern-most claims of
the Eastside Prospect; the claim block covers an area of approximately 4.1kms by 2.5kms, or 1,020
hectares. The claim block is located around several travertine sinter occurrences that are believed to
overly basin bounding faults on the western edge of the Big Smoky Valley Basin approximately 29kms
west-northwest Tonopah, Nevada.
The main travertine sinter occurrence outcrops as a small hill and is associated with a series of roughly
north-south trending smaller travertine sinter outcrops. The north -south nature of the outcrops is
coincident with features identified from airborne magnetometer surveys and ground -based gravity
surveys and are believed to represent north-south Big Smoky Valley basin-bounding normal faults. These
surveys also identified an embayment feature that may represent a shallow, fault bounded paleo-lakebed
within the unconsolidated sediments that overlie the older volcanic and sedimentary “basement” rocks.
The geochemical sediment survey collected 250 samples and included duplicates, blanks and standards
as part of QA/QC. Samples were taken from unconsolidated sediments from a depth of 30 - to 45
centimeters below the surface; the reasoning for this was to get below the immediate weathering and
sediment transport surface, and into the less disturbed near-surface sediment layer. In this region, due
to the drainage patters, there is virtually no well-developed soil horizon from which to collect “C-horizon”
sediments. Samples were analyzed by ALS Global; sample preparation was carried out at the laboratory
in Sparks, NV; final analysis was carried out at their laboratory in Vancouver, Canada. The analysis method
applied uses a 25g sample charge; the sample is digested with aqua regia and then 53 elements analyzed
by super-trace ICP-MS, including Au, Ag, Pt, Pd, Li and B that are not routinely analyzed for by ICP “wet”
geochemistry.
The geochemical survey approach has successfully indicated distinct and coincident Lithium and Boron
anomalies that form a primary, elongate Northwest-southeast trend that also appears to have a second
north-south component. Allegiant’s geologists believe that these trends are related to the unde rlying
basin bounding and inter-basin fault structures, and may be indicative of potential areas of fluid flow.
Many of the samples collected were calcite cemented clay-, silt- and fine sandstone that are like reports
of lithium bearing occurrences from elsewhere in the Big Smoky Valley, west of Tonopah, NV.
Sampling will include an additional ~250 samples and continue across the rest of the TS claim block; once
results are received and interpreted Allegiant plans an aggressive RC drill testing program to identify the
potential source of the near surface anomalies.
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 six highly prospective gold projects in the United States, five of which are in the mining-
friendly jurisdiction of Nevada. Two of Allegiant’s projects are currently 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 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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