Drilling at ALLEGIANT’S Bolo Gold Project in Nevada Intersects 85 Metres of Carlin-Style Shallow Oxide Gold Grading 1.01 g/t
Page 1 of 4
NEWS RELEASE
Drilling at ALLEGIANT’S Bolo Gold Project in Nevada Intersects 85 Metres of
Carlin-Style Shallow Oxide Gold Grading 1.01 g/t
Vancouver, BC, Canada, October 21, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF:
OTCQX) is pleased to announce results from the first hole drilled at its Bolo gold project in Nevada.
The drilling was carried-out by Barrian Mining Corp. (TSX-V: BARI, OTCQB: BARRF) and was comprised
of 10 reverse circulation (RC) drill holes totaling 1,838 metres. Barrian can earn an initial 50.01%
interest in Bolo by making share payments to ALLEGIANT totaling US$1 million and completing US$4
million in exploration expenditures.
Hole BL19-02 (-65° dip / 270 azimuth) intersected 32.0 metres of 2.01 grams-per-tonne (g/t) gold
starting at 67 metres down hole, within a broader zone of mineralization averaging 1.01 g/t gold over
85 metres starting at 49 metres down hole1. According to Barrian, these results extend the footprint
of gold mineralization approximately 60 metres vertically below the previous drilling on section (Figure
1).
The hole was drilled in the South Mine Fault Zone (SMFZ) targeting the down-dip extension of previous
intercepts drilled by ALLEGIANT (when it was a subsidiary of Columbus Gold) in hole BL-38, which
intersected 3.24 g/t gold over 30.5 metres starting at 44 metres1. Barrian’s Hole BL19-02 intersected
Carlin-style gold mineralization approximately 60 metres vertically below BL-38, in visibly altered
(silicified and oxidized - limonite ± jarosite/hematite) siltstones, jasperoids and cherty limestones
within hanging wall Cambrian Windfall Formation and footwall Silurian Roberts Mountain Formation
dolomite. Mineralization remains open at depth below BL19-02. Anomalous pathfinder element
(arsenic and antimony) values from the ALS Global multi-element analysis correspond well with gold
mineralization in BL19-02, and are very similar to arsenic and antimony concentrations identified by x-
ray fluorescence (XRF) analysis in the field.
Additional drill results are anticipated over the coming weeks. The remaining unreported drill holes
intersected significant mineralized intersections that could provide potential to expand the South Mine
Fault Zone and the Uncle Sam Zone. The drilled areas form part of a greater mineralized trend that
extends for over 1.2 kilometers along strike. The 2019 Induced Polarization (IP) ground geophysical
program carried-out by Barrian, indicates mineralized areas could extend to depth and along strike,
providing additional growth potential across the Bolo Project area.
1 The true width of mineralization is estimated to be approximately 60-70% of drilled width.
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
Page 2 of 4
Figure 1: Bolo Gold Project BL19-02 Drill Section (Showing Resistivity)
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Global (ALS), Elko (sample preparation),
Reno (gold fire assay) Nevada, and Vancouver (multi-element geochemistry) Canada. ALS is an ISO-IEC
17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Barrian
and the QP. RC drill samples were subject to crushing at a minimum of 70% passing 2 mm, followed by
pulverizing of a 250 gram split to 85% passing 75 microns. Gold determination was via standard atomic
absorption (AA) finish 30 gram fire-assay (FA) analysis, in addition to 48 element ICP-MS
geochemistry. Barrian follows industry standard procedures for the work carried out on the Bolo Gold-
Silver Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard
samples were inserted into the sample sequence sent to the laboratory for analysis. Barrian detected
no significant QA/QC issues during review of the data. Barrian is not aware of any drilling, sampling,
recovery or other factors that could materially affect the accuracy or reliability of the data referred to
herein.
ABOUT ALLEGIANT
ALLEGIANT owns 100% of 10 highly-prospective gold projects in the United States, seven of which are
Page 3 of 4
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 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
ABOUT BARRIAN
Barrian Mining Corp. is a new gold exploration company focused on acquiring and advancing precious
metal projects in the United States. Barrian's flagship Bolo Project, located 90km northeast of Tonopah
Nevada, hosts Carlin type gold mineralization and is fully funded and permitted. In addition, Barrian
has an earn-in option to acquire 100% of the "Sleeper Project" which is located in the
historic Mogollon epithermal silver-gold mining district of New Mexico. Barrian is run by a strong
management and technical team consisting of capital market and mining professionals with the goal of
maximizing value for shareholders through new mineral discoveries, committed long-term
partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Barrian trades on the TSXV under the ticker symbol "BARI", on the OTC markets under the symbol
"BARRF" and on the German (Frankfurt) exchanges using the ticker symbol “BM5".
Qualified Person
The scientific and technical information contained in this news release as it relates to the Bolo Project
has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX
Geoscience Ltd. of Edmonton, AB, a Director of Barrian and a "Qualified Person" as defined in National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
ON BEHALF OF THE BOARD,
Peter Gianulis
President & CEO
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
Page 4 of 4
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 other than statements
of historical fact may be forward-looking statements. In some 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 regarding: the evaluation of options to form a new
exploration team or related M&A; Allegiant's property holding costs savings or income generated from optioning out certain
properties; Allegiant's drilling and exploration plans for its properties, including farming out, anticipated costs, updating
resource estimates and timing thereof and resulting increase of resources, if any; Allegiant's plans for growth through
exploration activities, acquisitions or otherwise; and expectations regarding future cost savings, maintenance and capital
expenditures, and working capital requirements. 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 industry 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 could 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 included in this press release if these beliefs,
estimates and opinions or other circumstances should change, except as otherwise required by applicable law.