Drilling Completed at ALLEGIANT’s Bolo Gold Project
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NEWS RELEASE
Drilling Completed at ALLEGIANT’s Bolo Gold Project
Vancouver, BC, Canada, October 2, 2019, Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU: TSX-V) (AUXXF:
OTCQX) is pleased to announce the completion of the summer drill program 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.
“We are excited that Barrian, who is earning an initial 50.01% interest in Bolo, has completed the stated
drilling program which helps validate our strategy of farming-out projects to be advanced. We continue
to make progress on our other projects and look forward to the results at Bolo and providing a further
update in the near future,” commented Peter Gianulis, President & CEO of Allegiant Gold.
Visible alteration indicating potential for mineralization was observed in all drill holes. The focus of
drilling was to extend the envelope of high-grade gold mineralization at the South Main Fault Zone.
The program was completed on time and on budget, and all drill samples are now with ALS Global for
gold fire assay and multi-element analysis.
Seven drill holes, totaling 1,338 metres, were completed at the South Mine Fault Zone, testing the
extent of mineralization down-dip and along strike. Previous RC drill intercepts at the South Mine Fault
area include drill hole BL-38 that graded 3.24 grams-per-tonne (g/t) gold over 30.5 metres within a
broader zone of mineralization averaging 1.28 g/t gold over 133 metres.* One drill hole, totaling 177
metres, was completed between the South Mine Fault Zone and Northern Extension Zone, testing both
the continuity of mineralization along strike between the known zones, and a linear conductive
anomaly identified by the 2019 Induced Polarization and Resistivity geophysical survey. Two drill holes,
totaling 323 metres, were completed at the historical Uncle Sam patented claim which has yielded
high-grade silver plus gold channel rock chip samples including 3,146 g/t silver and 1.0 g/t gold over 2.6
metres, and 365 g/t silver and 1.9 g/t gold over 3.6 metres.** Uncle Sam hosts high grade silver plus
gold mineralization at surface and in drill samples, and is the site of historical (circa 1880's) mine
workings.
All drill holes completed during the summer program intersected zones of visible alteration typical
of Carlin type gold deposit mineralization; including silicification and decalcification of Paleozoic
carbonate rocks producing "jasperoids". Intervals of strong iron oxide were also intersected,
associated primarily with structural zones. Anomalous pathfinder element (arsenic and antimony)
concentrations identified by handheld x-ray fluorescence (XRF) analysis correlate with visible zones of
mineralization within the holes analyzed.
Allegiant Gold Ltd.
1090 Hamilton Street
Vancouver, BC V6B 2R9, Canada
www.allegiantgold.com
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* The true width of mineralization is estimated to be approximately 50% of drilled width.
** The true width of mineralization at Uncle Sam is unknown. For full descriptions of the Bolo
Property mineralized intercepts see: Technical Report on the Bolo Property, Nye County, Nevada,
USA effective date October 5, 2018 available at www.sedar.com*
About ALLEGIANT
ALLEGIANT owns 100% of 10 highly-prospective gold projects in the United States, 7 of which are
located in the mining-friendly jurisdiction of Nevada. 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 Mining Corp.
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
CEO
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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 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.