Drilling At Bolo Gold Project Intersects 85 Metres Of Carlin-Style Shallow Oxide Gold 

 

VANCOUVER -  Allegiant Gold Ltd. reported results from the first hole drilled at its Bolo gold project in Nevada. The drilling was carried-out by Barrian Mining Corp. (TSX-V: BARI, OTCQB: BARRF) and was comprised of 10 reverse circulation (RC) drill holes totaling 1,838 meters. Barrian can earn an initial 50.01% interest in Bolo by making share payments to ALLEGIANT totaling US$1 million and completing US$4 million in exploration expenditures.

Hole BL19-02 (-65° dip / 270 azimuth) intersected 32.0 meters of 2.01 grams-per-tonne (g/t) gold starting at 67 meters down hole, within a broader zone of mineralization averaging 1.01 g/t gold over 85 meters starting at 49 meters down hole1. According to Barrian, these results extend the footprint of gold mineralization approximately 60 meters vertically below the previous drilling on section.

The hole was drilled in the South Mine Fault Zone (SMFZ) targeting the down-dip extension of previous intercepts drilled by ALLEGIANT (when it was a subsidiary of Columbus Gold) in hole BL-38, which intersected 3.24 g/t gold over 30.5 meters starting at 44 meters 1. Barrian’s Hole BL19-02 intersected Carlin-style gold mineralization approximately 60 meters vertically below BL-38, in visibly altered (silicified and oxidized - limonite ± jarosite/hematite) siltstones, jasperoids and cherty limestones within hanging wall Cambrian Windfall Formation and footwall Silurian Roberts Mountain Formation dolomite. Mineralization remains open at depth below BL19-02. Anomalous pathfinder element (arsenic and antimony) values from the ALS Global multi-element analysis correspond well with gold mineralization in BL19-02, and are very similar to arsenic and antimony concentrations identified by x-ray fluorescence (XRF) analysis in the field.

Additional drill results are anticipated over the coming weeks. The remaining unreported drill holes intersected significant mineralized intersections that could provide potential to expand the South Mine Fault Zone and the Uncle Sam Zone. The drilled areas form part of a greater mineralized trend that extends for over 1.2 kilometers along strike. The 2019 Induced Polarization (IP) ground geophysical program carried-out by Barrian, indicates mineralized areas could extend to depth and along strike, providing additional growth potential across the Bolo Project area.

The analytical work reported on herein was performed by ALS Global (ALS), Elko (sample preparation), Reno (gold fire assay) Nevada, and Vancouver (multi-element geochemistry) Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geo analytical laboratory and is independent of the Barrian and the QP. RC drill samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250 gram split to 85% passing 75 microns. Gold determination was via standard atomic absorption (AA) finish 30 gram fire-assay (FA) analysis, in addition to 48 element ICP-MS geo chemistry. Barrian follows industry standard procedures for the work carried out on the Bolo Gold-Silver Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Barrian detected no significant QA/QC issues during review of the data. Barrian is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.

The company’s address is 1090 Hamilton Street, Vancouver, BC V6B 2R9, (604) 634-0970, www.allegiantgold.com.