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Allegiant aims to double Eastside ounces

The first holes in a drilling programme at Allegiant Gold’s (CN:AUAU) flagship Eastside project in Nevada are giving the company confidence in its aim to double the resource.
Allegiant aims to double Eastside ounces Allegiant aims to double Eastside ounces Allegiant aims to double Eastside ounces Allegiant aims to double Eastside ounces Allegiant aims to double Eastside ounces

Hits 42.7m at 2.49g/t gold at flagship project

Staff reporter

Among the highlights, hole 151 hit 79.2m at 1.03g/t gold just below the planned pit, while hole 147 returned 42.7m at 2.49g/t including 9.1m at 9.03g/t.

"These results confirm our geological model and validate our objectives to double the in-pit ounces and significantly reduce the strip ration at the Original Zone," chairman Robert Giustra said.

Eastside has a pit constrained inferred resource of 35.78 million tonnes grading 0.63g/t gold equivalent.

It is one of the company's 14 gold projects in the US, 11 of which are in Nevada.

The Columbus Gold (CN:CGT) spin-out debuted on the TSX Venture Exchange at the end of January and has plans to drill 10 of its projects this year. 

The company's management includes CEO Andy Wallace, who has been credited with gold discoveries in Nevada, former Goldcorp and Newmont CFO Russell Ball and former Eldorado Gold president Norm Pitcher.

Its shares touched C75c the day it listed, then lost about 30c in the following weeks but rose 3.77% yesterday to 55c, capitalising it at $25.7 million.

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