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• Allegiant launched a fully funded 2,000m drill program within the McIntosh zone; the first phase of a 20,000m campaign at Eastside.
• Results from the ongoing drill program are expected in October and November, as we anticipate a news-heavy fall and winter.
• The recent $10.5M financing, led by Kinross and including Eric Sprott, leaves AUAU cashed up with $14M to aggressively advance exploration.
• The Company will be rebranding to A2 Gold Corp., pending approval.
Yesterday, Allegiant Gold Ltd. (AUAU:TSXV, AUXXF:OTC) announced the start of a fully funded 2,000m diamond core drill program targeting the vertical extensions of the high-grade gold discovery at the McIntosh zone within the Company’s flagship Eastside Gold-Silver Project. As a reminder, the Eastside Project contains an Inferred resource of 1.4Moz of gold and 8.8Moz of silver, with only a small portion of the property systematically explored to date. This program represents the first exploration campaign in which the Company is sufficiently capitalized to comprehensively evaluate priority targets at Eastside, bolstered by the recent $10.5M financing in August and $3.5M raised in June. We are maintaining our BUY rating and target price of $1.20/share on Allegiant Gold.
The program is designed to evaluate the vertical continuity and structural controls of mineralization through deeper drilling beneath and adjacent to holes ES-239 and ES-243, which intersected 39.0 g/t over 3.1m and 2.6 g/t over 148m, respectively. An angled hole (ES-337) will test potential mineralized structures at depth. As seen in Figure 1 below, the target areas were defined through a comprehensive review of the exploration model, which integrates over 60,000m of drilling along with geophysical, geochemical, lithological, and structural data.
2025 Program Highlights:
• Three-hole HQ core drill program (ES-331, ES-337, ES-338) totalling ~2,000m, part of a larger 20,000m campaign
• Holes ES-331 and ES-338 to test vertical extensions of high-grade holes ES-239 and ES-243 down to 600m
• Hole ES-337 targeting multiple structures within the high-grade zone discovered in 2021, with a planned depth of at least 600m
• Drilling is currently underway, with results expected in Oct and Nov.
AUAU: Name Change, $10.5M Raised, & Exploration Commences
What you need to know:• Allegiant launched a fully funded 2,000m drill program within the McIntosh zone; the first phase of a 20,000m campaign at Eastside.
• Results from the ongoing drill program are expected in October and November, as we anticipate a news-heavy fall and winter.
• The recent $10.5M financing, led by Kinross and including Eric Sprott, leaves AUAU cashed up with $14M to aggressively advance exploration.
• The Company will be rebranding to A2 Gold Corp., pending approval.
Yesterday, Allegiant Gold Ltd. (AUAU:TSXV, AUXXF:OTC) announced the start of a fully funded 2,000m diamond core drill program targeting the vertical extensions of the high-grade gold discovery at the McIntosh zone within the Company’s flagship Eastside Gold-Silver Project. As a reminder, the Eastside Project contains an Inferred resource of 1.4Moz of gold and 8.8Moz of silver, with only a small portion of the property systematically explored to date. This program represents the first exploration campaign in which the Company is sufficiently capitalized to comprehensively evaluate priority targets at Eastside, bolstered by the recent $10.5M financing in August and $3.5M raised in June. We are maintaining our BUY rating and target price of $1.20/share on Allegiant Gold.
The program is designed to evaluate the vertical continuity and structural controls of mineralization through deeper drilling beneath and adjacent to holes ES-239 and ES-243, which intersected 39.0 g/t over 3.1m and 2.6 g/t over 148m, respectively. An angled hole (ES-337) will test potential mineralized structures at depth. As seen in Figure 1 below, the target areas were defined through a comprehensive review of the exploration model, which integrates over 60,000m of drilling along with geophysical, geochemical, lithological, and structural data.
2025 Program Highlights:
• Three-hole HQ core drill program (ES-331, ES-337, ES-338) totalling ~2,000m, part of a larger 20,000m campaign
• Holes ES-331 and ES-338 to test vertical extensions of high-grade holes ES-239 and ES-243 down to 600m
• Hole ES-337 targeting multiple structures within the high-grade zone discovered in 2021, with a planned depth of at least 600m
• Drilling is currently underway, with results expected in Oct and Nov.
Underlying
ALLEGIANT GOLD
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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