Eastside, a resource of 721K Oz gold
Allegiant Gold Ltd announces the remaining 13 drill holes, holes 156-168, from the 22-hole phase 1 resource expansion drill program, totalling 8,265 metres, at its 100% owned Eastside gold project, located 32 kilometres west of Tonopah, Nevada.
The phase 1 resource expansion drill program was successful in extending the Original Zone, an area within Eastside, 300 metres to the west and 400 metres to the south, where it still remains open in both directions. Further, all of the holes were drilled in areas currently classified as waste in the pit-constrained resource estimate, which currently stands at 721,000 gold equivalent ounces1, below the planned pit or below the pit layback.
“We’re very pleased with the results of the phase 1 resource expansion drill program,” said Robert Giustra, Chairman & CEO of Allegiant. “The results demonstrate that our objectives of doubling the in-pit ounces and significantly reducing the strip ratio at the Original Zone remain in sight. Further, the results verify that the Original Zone is a very large gold system. Drilling to date has not constrained the boundaries of the deposit and it remains open in almost every direction.”
Allegiant will continue to build on the results phase 1 drill program with the objective of doubling the in-pit resource and significantly reducing the strip ratio at the Original Zone. The Original Zone remains open to the west, south, and to depth, and possibly to the east and north.
It is important to note that due to difficult drilling conditions, seven of the 13 drill holes had to be abandoned, several of which terminated in gold mineralization.
