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Allegiant Announces Proposed Commencement of Drilling at Bolo Gold Project

Allegiant Gold Ltd. reports that a 3,000 m RC drilling campaign is planned to begin in July at its 100% owned, Carlin-style, Bolo gold project, located in Nevada.

A Bolo property map showing the relative locations of the South Mine Fault Zone and the Uncle Sam Zone.
A Bolo property map showing the relative locations of the South Mine Fault Zone and the Uncle Sam Zone. Image Credit: Allegiant Gold Ltd.

The program will be conducted by New Placer Dome Gold Corp. (NGLD) (formerly Barrian Mining Corp.), which can gain a starting interest of 50.01% in Bolo by making share payments to Allegiant summing US$1 million and finishing US$4 million in exploration expenditures.

The 2019 drilling results demonstrated that good grade, shallow Carlin-style mineralization, can still be found in Nevada. We are very pleased that the next phase of drilling at Bolo is proceeding.

Peter Gianulis, Chief Executive Officer, Allegiant Gold Ltd

The program will be a continuation of the findings of 2019 drilling by NGLD at the South Mine Fault Zone and will further test the mineralization continuity between the Uncle Sam Zone and the South Mine Fault Zone.

In 2019, grab sampling of outcrop by NGLD at Uncle Sam produced up to 262 g/t silver and 3.63 g/t gold, in a region where sampling was not performed previously.

Following are the results of the 2019 drilling reported by NGLD at the South Mine Fault Zone:

From Hole BL19-01, 3.34 g/t gold was obtained over 29.0 m, which includes a higher-grade zone of 4.97 g/t gold over 13.7 m2. The intercept appears within a wider envelope of mineralization that averages 1.37 g/t gold over 84 m, beginning from the surface.

According to NGLD, such intercepts extend the footprint of gold mineralization around 35 m vertically below the prior drilling on the section. Mineralization is left open at depth.

Hole BL19-02 yielded 32 m of 2.01 g/t gold beginning at 67 m downhole, inside a wider mineralization zone that averages around 1.01 g/t gold over 85 m, starting at 49 m downhole.

NGLD noted that such outcomes expand the footprint of gold mineralization around 60 m vertically below the earlier drilling on the section.

Hole BL19-03 yielded 2.37 g/t gold over 12.2 m inside an extensive envelope of mineralization that averages 0.81 g/t gold over 65.5 m.

According to NGLD, such intercepts extend gold mineralization around 40 to 50 m vertically below the earlier drilling and imply gold mineralization is left open below 150 m vertical depth on the section.

In Hole BL19-04, two high-grade gold regions were discovered: an upper zone of 2.10 g/t over 36.6 m starting at 80.8 m downhole, which includes 3.25 g/t gold over 15.2 m beginning at 96 m downhole; and a lower zone of 3.32 g/t gold over 12.2 m starting at 79 m downhole.

The upper and lower zones are located within a wider envelope of mineralization at an average of 1.19 g/t gold over 122 m, starting at 79 m downhole.

NGLD noted that the findings expand mineralization from the surface down to a vertical distance of 200 m left open at depth.

Source: https://www.allegiantgold.com/

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