ALLEGIANT to Expand Operating Permit Area at Eastside

VANCOUVER, British Columbia, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU:  TSX-V) (AUXXF: OTCQX) is pleased to announce its plan to expand the operating permit area at its flagship Eastside project as well as provide an update on the revised resource estimate expected in the coming weeks. 

Eastside Resource Estimate & Upcoming Exploration Program
ALLEGIANT is working with Mine Developers Associates (“MDA”) to provide an updated resource estimate on the 100%-owned Eastside project, located 32km from the town of Tonopah, NV.  The initial maiden resource estimate (“Resource Estimate and NI 43-101 Technical Report, Eastside Gold-Silver Project Technical Report, Esmeralda County, Nevada”) with effective date of July 25, 2017, contained pit-constrained Inferred resources of 35,780,000 tonnes grading 0.63g gold equivalent per tonne, for a total of 721,000 gold equivalent ounces.  Andy Wallace, ALLEGIANT technical advisor, is overseeing the technical aspect of incorporating 18 additional drill holes that were completed in late 2018.   “Our goal in updating the initial pit-constrained resource at the original discovery zone at Eastside is to provide us with a clearer idea as to the amount of economic resources as well as potential for expansion of the pit zone,” commented Peter Gianulis, CEO of Allegiant Gold. “We believe that the 67km² Eastside district has the potential to host numerous pit zones and we will be spending the next year identifying additional zones beyond the existing pit zone in the north and the Boss/Castle resource areas to the south.  We have only explored less than 5% of the total property and are very excited for the upcoming exploration program in 2020.”

The Board has approved the 2020 exploration budget that will include expanding the permitted operating zone from 601 acres to approximately 3,200 acres.  The proposed exploration program will evaluate numerous targets with the end goal of drilling the high priority targets when our permits are received.  “We have also identified up to 5 additional areas from alteration mapping and geochemical sampling that warrant further exploration,” stated Mr. Wallace.  “I look forward to working closely with ALLEGIANT once again to continue to advance this amazing project.”