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• Allegiant announced plans to drill the High-Grade Zone at McIntosh by way of a 2,000-3,000m diamond drill program. 2021 highlights in this area include 39 g/t Au over 3m & 2.6 g/t Au over 148m.
• AUAU also announced disappointing results from its exploratory RC drill program at Eastside, however, there were some positive takeaways.
• We recently published an interview with management, find it here.
This morning, Allegiant Gold Ltd. (AUAU:TSXV, AUXXF:OTC) announced plans to drill the High-Grade Zone (HGZ) at the McIntosh Zone as well as the results from its 18-hole, 4,800m drill program at the Eastside property. We are maintaining our BUY rating and $0.50/share target price on Allegiant Gold.
Upcoming Drill Program
In today’s press release, AUAU announced its plans to complete a 2,000-3,000m diamond drill program at the McIntosh Zone, targeting the HGZ at depth which was previously intersected in 2021. As a reminder, Allegiant intersected this zone with three drill holes in 2021, highlights include:
• Hole 239: 39.0 g/t Au over 3.0m and 113.35 g/t Ag over 6.1m
• Hole 243: 2.6 g/t Au over 148.0m, including 21.9 g/t Au over 14.0m, and including 173.8 g/t Ag over 20.0m
o Hole 243 ended in gold mineralization, with the bottom of the hole running 2.24 g/t Au over 12.2m, within an interval of 0.92 g/t Au over 50m
The upcoming program marks the first attempt to drill below 420m, with planned depths extending to over 600m. This follows the impressive, and deep, discoveries by AngloGold at Silicon and Kinross at Phase X within the Walker Lane district.
The drill program will focus on expanding the HGZ and testing the mineralization’s southern extensions. This includes a step-out hole from ES-239 and a vertical core hole from ES-243 to test deeper extensions. Additional deep angle holes are planned targeting mineralization south of the McIntosh zone and extending below South Mountain, where earlier drilling indicates mineralization in open.
AUAU: Plans to Target Deep High-Grade Zone
What you need to know:• Allegiant announced plans to drill the High-Grade Zone at McIntosh by way of a 2,000-3,000m diamond drill program. 2021 highlights in this area include 39 g/t Au over 3m & 2.6 g/t Au over 148m.
• AUAU also announced disappointing results from its exploratory RC drill program at Eastside, however, there were some positive takeaways.
• We recently published an interview with management, find it here.
This morning, Allegiant Gold Ltd. (AUAU:TSXV, AUXXF:OTC) announced plans to drill the High-Grade Zone (HGZ) at the McIntosh Zone as well as the results from its 18-hole, 4,800m drill program at the Eastside property. We are maintaining our BUY rating and $0.50/share target price on Allegiant Gold.
Upcoming Drill Program
In today’s press release, AUAU announced its plans to complete a 2,000-3,000m diamond drill program at the McIntosh Zone, targeting the HGZ at depth which was previously intersected in 2021. As a reminder, Allegiant intersected this zone with three drill holes in 2021, highlights include:
• Hole 239: 39.0 g/t Au over 3.0m and 113.35 g/t Ag over 6.1m
• Hole 243: 2.6 g/t Au over 148.0m, including 21.9 g/t Au over 14.0m, and including 173.8 g/t Ag over 20.0m
o Hole 243 ended in gold mineralization, with the bottom of the hole running 2.24 g/t Au over 12.2m, within an interval of 0.92 g/t Au over 50m
The upcoming program marks the first attempt to drill below 420m, with planned depths extending to over 600m. This follows the impressive, and deep, discoveries by AngloGold at Silicon and Kinross at Phase X within the Walker Lane district.
The drill program will focus on expanding the HGZ and testing the mineralization’s southern extensions. This includes a step-out hole from ES-239 and a vertical core hole from ES-243 to test deeper extensions. Additional deep angle holes are planned targeting mineralization south of the McIntosh zone and extending below South Mountain, where earlier drilling indicates mineralization in open.
Underlying
ALLEGIANT GOLD
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Atrium Research Corporation
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Ben Pirie
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