Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: AUAU; AUXXF

ALLEGIANT Reports on Nevada 'High-Impact Discovery Drilling'
News Update

Source:

The explorer/developer ALLEGIANT is drilling six projects.

Allegiant Project Map

Allegiant Gold Ltd. (AUAU:TSX.V; AUXXF:OTCQX) announced in a news release that the company is drilling on the Red Hills project, completed drilling at the North Brown project, and has received all the assay results for Hughes Canyon.

The drilling at Hughes Canyon consisted of 12 rotary holes over 2,139 meters. Results show that 10 of the holes encountered a hydrothermal alteration "in several different stratigraphic units in a faulted and folded Mesozoic sedimentary package," noted the release. Findings also demonstrated the presence of gold and silver mineralization, with gold grades greater than 0.1 grams per ton.

The company reported that while drill results at Hughes Canyon "are encouraging and suggest more drilling is necessary," the property will "be abandoned." The company stated that given its sizable portfolio of prospective properties, it will be better served by using its capital elsewhere.

Final assays for the third property drilled, North Brown, are expected in a week, the company noted. Around the same time, Allegiant will resume its drill program, next targeting Monitor Hills, the fourth property.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Allegiant Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allegiant Gold, a company mentioned in this article.




Want to read more about Gold and Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe