Allegiant Gold Announces Option Agreement On Clanton Hills

VANCOUVER - Allegiant Gold Ltd. has entered into an option agreement with Volt Energy Corp whereby Volt can acquire up to 70% of the Clanton Hills Silver Project in Arizona. Peter Gianulis, CEO, said, “The option agreement with Volt is another milestone in our ability to execute our strategic business plan.  We continue to be focused on growing the resources at Eastside, our flagship gold-oxide project in Nevada, and evaluating other opportunities within our deep and diverse portfolio of assets. We look forward to updating the market on other developments in the near future.”  

The Clanton Hills Project is located 112 km west of Phoenix, Arizona and consists of 32 mineral claims.  Clanton Hills resembles many low-sulfidation, epithermal deposits in the Cordillera of the Western Hemisphere, However, it is unusual, as silver values are present over considerable widths, up to 30 meters, in the wall rocks of mineralized structures.  This presents a drill target with the potential to host large volumes of lower-grade silver mineralization over long intercepts in the walls of the structures, in addition to conventional higher-grade mineralization over the narrower widths of the veins, typical of the district.