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.
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