Gold Firm Provides Update on 2018-2019 Nevada Drilling Campaign

30th November 2018 Off By binary

By The Gold Report

Source: Streetwise Reports   11/26/2018

This Canadian company continues making progress on its discovery program.

Allegiant Gold Ltd. (AUAU:TSX.V; AUXXF:OTCQX) announced in a news release it finished drilling at two of its six-project program in Nevada, Red Hills and Hughes Canyon, and commenced drilling at North Brown, which has never been explored.

At Red Hills, the company rotary drilled nine holes over 2,342 meters (2,342m) beginning in September. “The drilling successfully intersected its targets: a buried quartz monzonite intrusive, and the Cambrian limestones along the margins of the intrusive,” the company reported. Assays revealed all holes were negative except for slight concentrations of base metals and silver. Therefore, no further explorative work will be done at this project.

At Hughes Canyon, Allegiant rotary drilled 11 holes over 2,193m of a pediment along the western edge of the Stillwater Range. “Ten of the 12 holes encountered hydrothermal alteration hosted by a structurally complex package of Mesozoic sedimentary rocks,” the release noted. Assays for Hughes Canyon remain pending.

At North Brown, Allegiant began 1,900–2,000m of rotary drilling, the first phase. The company noted that the geochemistry and alteration at this project resemble the gold mineralization of Nevada’s Carlin Trend, but the property has remained virgin territory until this month.

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( Companies Mentioned: AUAU:TSX.V; AUXXF:OTCQX,
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