Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Allegiant Completes Fifth Drilling Project in Nevada
News Update

Share on Stocktwits


Allegiant Gold is assessing six "discovery potential" projects in Nevada.

Allegiant Project Map

Allegiant Gold Ltd. (AUAU:TSX.V; AUXXF:OTCQX) announced it has completed drilling at its Adularia Hill gold project in Nevada.

The Adularia Hill drilling consisted of 21 holes, totaling 3,170 meters. Assays of the drilling are pending, the company added.

The Adularia Hill target is the fifth of six gold exploration projects Allegiant owns and plans to drill in Nevada. The company said the six projects have "discovery potential" and highlighted that they are located in a "world-class gold mining jurisdiction."

Allegiant wholly owns 11 gold projects in the United States, eight of which are in Nevada.

Allegiant discovered the Adularia Hill target during geologic and alteration mapping followed by surface sampling of outcrop and float. "Thirty of the 140 samples contained gold values ranging from 0.1 to a maximum of 1.5 g/t gold. Gold occurs in and along structures and silica ribs with associated stockworks of quartz and adularia veining," the company explained.

No previous drilling was performed at the Adularia Hill target, it added.

Allegiant, on the other hand, announced that the assays from its previous drilling project carried out at Monitor Hill, Nevada, showed results that "are considered too low-grade."

"Drilling at Monitor Hills encountered broad zones of anomalous gold but better grade gold was only present in narrow 1.5 to 3 meter intervals. Overall the drilling results are considered too low-grade, and in the context of prioritizing expenditures on Allegiant's large portfolio of prospective exploration properties, Allegiant will assess its future plans for Monitor Hills," the company stated.


1) Mario Santana compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his 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 investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe