Final BLM Approval At Flagship Eastside Project
RENO, NV - Allegiant Gold Ltd. reported the receipt of two permits allowing for a significant expansion of drilling and operations at its Flagship Eastside Project (Inferred ounces of 1.4M Au and 8.7M Ag) near the town of Tonopah, Nevada. The first permit expands the Plan-of-Operations (“PoO”) from the previous 600 acres to over 3,676 acres around the Original Pit Zone. The second permit received amends the existing drill target plan within the Original Pit Zone and will allow Allegiant to drill up to 14 new diamond core holes to test the recently discovered high-grade zone announced prior.
Peter Gianulis, CEO, said, “The receipt of the two permits is a major development that will allow us to further expand beyond the existing Original Pit Zone at Eastside as well as offset drilling around the recently discovered high-grade zone. We embarked on this expanded Plan-of-Operations over 18 months ago with the plan of testing geochemical and geophysical anomalies that have never been previously drilled. We look forward to executing our business plan which includes significant drilling.”
The newly approved PoO allows us to build new roads and access to 160 new drill sites to test gold, arsenic, and intense hydrothermal alteration zones continuing south and west of our existing resource for at least 2-3 km. It also allows Allegiant to drill geophysical anomalies on the pediment east of our existing resource which are interpreted to be rhyolite domes known to be key for hosting gold at Eastside. Allegiant plans to provide a comprehensive update on the business plan and the upcoming drilling in the near future.