Allegiant Names Eastside’S “Mcintosh Zone” After Explorer Honoring Early Work BY Larry Mcintosh
ALLEGIANT NAMES EASTSIDE’S “MCINTOSH ZONE” AFTER EXPLORER
HONORING EARLY WORK BY LARRY MCINTOSH
Tonopah, Nevada / June 29, 2023 - Allegiant Gold Ltd. (“Allegiant” or the “Company”) (AUAU: TSX -V)
(AUXXF: OTCQX) announces the naming of the McIntosh Zone, formerly known as the Original Pit Zone
(“OPZ”), after Larry McIntosh, the explor ation geologist who made the original discove ry and provides
further clarity on the nomenclature applied to the Eastside District (“Eastside”) as a whole.
Larry’s prospecting and sampling led Allegiant into Eastside, and then the drilling program that generated
the discovery in 2011 for Cordex and Allegiant Gold (formerly Columbus Gold). Over the subsequent
years, Eastside has grown to district-scale and is now the flagship project for Allegiant. Larry earned a
Bachelor of Science in Geological Engineering from the Mackay School of Mines. Larry was a member of
the Geological Society of Nevada and enjoyed a long career as a geologist in gold exploration. Larry passed
away on June 7, 2018.
Peter Gianulis, CEO of Allegiant Gold, commented: “I had the honor to meet Larry back in 2012 when I
was a member of the Board of Directors, and after the first discovery hole. It is our honor to bestow the
name of such an inquisitive and kind person to this gold deposit. We will continue to build on Larry’s initial
discovery and endeavor to make the McIntosh Zone into a producing mine.”
EASTSIDE DISTRICT
Eastside, Allegiant’s flagship project, hosts an existing low-grade, bulk tonnage, low sulfidation epithermal
resource (NI43-101 Technical Report dated July 30, 2021) associated with relatively young rhyolite
intrusive and volcanic rocks. There are indications that the mineralized zones at Eastside in the McIntosh
Zone extend vertically over several hundreds of meters and are consistent with other rhyolite -hosted
systems in the Walker -Lane structural trend; probably the most comparable deposit currently being
mined is Equinox’s Castle Mountain mine; the project also bears some similarities to Las Crucitas in Costa
Rica.
Allegiant will begin referring to Eastside as the entire district encompassing over 1,100 claims within over
21,000 acres (85 km 2) and hosts the McIntosh Zone , part of the Eastside Project , as well as the Castle
Project (“Castle”). The Castle Project, approximately 15 kilometers south of the Eastside Project, contains
4 known low- to moderate-sulfidation epithermal gold-silver deposits: Boss, Berg, Black Rock and Castle.
An inferred resource was defined based upon historic drilling through 2020; this was followed by resource
expansion drilling in early 2023 which demonstrated that the Castle Project was under -drilled, and that
further exploration and resource expansion drilling could bring significant additional mineralization to the
resource.
ABOUT ALLEGIANT
Allegiant owns six highly prospective gold projects in the United States, five of which are in the mining -
friendly jurisdiction of Nevada. T wo of Allegiant’s projects are currently farmed -out, providing for cost
reductions and cash-flow. Eastside, Allegiant’s flagship, hosts a large and expanding gold resource and is
in an area of excellent infrastructure.
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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Certain statements and information contained in this press release constitute "forward -looking statements" within the meaning of applicable U.S. securities
laws and “for ward-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,
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