Drilling Completed At The Bolo Gold Project
VANCOUVER - Allegiant Gold Ltd. reported that the completion of the summer drill program at its Bolo gold project in Nevada. The drilling was carried out by Barrian Mining Corp. and was comprised of 10 reverse circulation (RC) drill holes totaling 1,838 metres.
“We are excited that Barrian, who is earning an initial 50.01% interest in Bolo, has completed the stated drilling program which helps validate our strategy of farming-out projects to be advanced. We continue to make progress on our other projects and look forward to the results at Bolo and providing a further update in the near future,” said Peter Gianulis, President & CEO of Allegiant Gold.
Visible alteration indicating potential for mineralization was observed in all drill holes. The focus of drilling was to extend the envelope of high-grade gold mineralization at the South Main Fault Zone. The program was completed on time and on budget, and all drill samples are now with ALS Global for gold fire assay and multi-element analysis.
Seven drill holes, totaling 1,338 meters, were completed at the South Mine Fault Zone, testing the extent of mineralization down-dip and along strike. Previous RC drill intercepts at the South Mine Fault area include drill hole BL-38 that graded 3.24 grams-per-tonne (g/t) gold over 30.5 meters within a broader zone of mineralization averaging 1.28 g/t gold over 133 meters. One drill hole, totaling 177 metres, was completed between the South Mine Fault Zone and Northern Extension Zone, testing both the continuity of mineralization along strike between the known zones, and a linear conductive anomaly identified by the 2019 Induced Polarization and Resistivity geophysical survey. Two drill holes, totaling 323 meters, were completed at the historical Uncle Sam patented claim which has yielded high-grade silver plus gold channel rock chip samples including 3,146 g/t silver and 1.0 g/t gold over 2.6 meters, and 365 g/t silver and 1.9 g/t gold over 3.6 meters. Uncle Sam hosts high grade silver plus gold mineralization at surface and in drill samples, and is the site of historical (circa 1880's) mine workings.
All drill holes completed during the summer program intersected zones of visible alteration typical of Carlin type gold deposit mineralization; including silicification and decalcification of Paleozoic carbonate rocks producing "jasperoids". Intervals of strong iron oxide were also intersected, associated primarily with structural zones. Anomalous pathfinder element (arsenic and antimony) concentrations identified by handheld x-ray fluorescence (XRF) analysis correlate with visible zones of mineralization within the holes analyzed.