Posted in | News | Gold | Mining Business

Allegiant Announces Drilling Commencement at its Bolo Gold Property

Allegiant Gold Ltd reports that drilling has started at its 100% owned, Carlin-style, Bolo gold project situated in Nevada.

Allegiant Announces Drilling Commencement at its Bolo Gold Property
Map: Bolo Gold Project 2020 Planned RC Drill Holes and Gold Targets. Image Credit: Allegiant Gold Ltd.

The program has been conducted by New Placer Dome Gold Corp. (formerly Barrian Mining Corp.), which will earn a preliminary 50.01% interest in Bolo by making share payments to Allegiant summing US$1 million and finishing US$4 million in exploration costs.

Bolo is an exciting emerging discovery located in one of the greatest mining jurisdictions in the world. We are thrilled that the initial drill program was expanded and commenced ahead of schedule.

Peter Gianulis, Chief Executive Officer, Allegiant Gold Ltd

The Mine Fault as well as other mineralized structures hosting the Norther Extension, Uncle Sam, and South Mine Fault will be targeted by an initial 12 high-priority RC drill holes that total 3,500 m.

Drilling at Bolo will focus on testing Carlin-style gold mineralization at depth in the South Mine Fault Zone where gold-silver mineralization remains open and untested along strike and at depth.

New Placer Dome Gold Corp.

New Placer Dome added that “The 2020 program will expand and step-out on results from the 2019 program (see New Placer Dome news release dated November 7, 2019 available on www.sedar.com) including:

  • 84 meters of 1.37 g/t gold in hole BL19-011, and
  • 122 meters of 1.2 g/t gold in hole BL19-04, and
  • New discovery of 12.2metres of 3.32 g/t gold in hole BL19-04

The 2020 program will also test the continuity of mineralization between the South Mine Fault Zone and Uncle Sam Silver Zone, where a 2019 outcrop sample yielded 3.63 g/t gold with 262 g/t silver.”

The combined 2019 and historical RC drilling at Bolo defines a 1.2 kilometer north-south trending corridor of gold-silver mineralization containing the South Mine Fault Zone, Uncle Sam, and Northeast Extension zones,” noted New Placer Dome.

Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong subvertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favorable silty carbonate units.

New Placer Dome Gold Corp.

The relatively untested 500 m strike length South Mine Fault-Uncle Sam segment is particularly prospective and is the main focus of New Placer Dome’s 2020 exploration designed to prove-out these compelling structural and stratigraphic gold targets,” explained New Placer Dome.

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

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.