(TheNewswire)
Reno, Nevada – TheNewswire - May 19, 2022 - Allegiant Gold Ltd.(“Allegiant” or the “Company”) (TSXV:AUAU) (OTCQX:AUXXF) is pleased to announce thecommencement of a UAV-based MAG geophysical survey at Goldfield Westahead of a future drill program.
The Goldfield West property (“ Goldfield West ” orthe “ Property ”) operated by Allegiant Gold consists of 185 unpatented claims (80 claims optioned from AnchorMinerals) located near the historic town of Goldfield. The Propertyis near Gemfield recently acquired by Centerra Gold from WatertonGlobal Resources for approximately US$206 million. The Property issituated nearby a main highway and has access to excellentinfrastructure. Zonge Engineering will beconducting the survey at Goldfield West and is expected to becompleted in the next few days.
Peter Gianulis, CEO of AllegiantGold , commented: “Goldfield West is one of our most sought-after projectslocated near the historic mining town of Goldfield. We are veryexcited to finally initiate a work campaign. The Mag survey is thenext step in a program that will lead to further geophysical workconsisting of resistivity surveying (i.e., CSAMT) and geochemicalsampling and detailed geologic mapping, ultimately leading to a drillplan and program.”
ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective goldprojects in the United States, 7 of which are located in themining-friendly jurisdiction of Nevada. Three of Allegiant’sprojects are farmed-out, providing for cost reductions and cash-flow.Allegiant’s flagship, district-scale Eastside project hosts a largeand expanding gold resource and is located in an area of excellentinfrastructure. Preliminary metallurgical testing indicates that bothoxide and sulphide gold mineralization at Eastside is amenable to heapleaching.
ON BEHALF OF THE BOARD
Peter Gianulis
CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release .
Certain statements and informationcontained in this press release constitute "forward-lookingstatements" within the meaning of applicable U.S. securities lawsand “forward-looking information” within the meaning of applicableCanadian securities laws, which are referred to collectively as"forward-looking statements". The United States PrivateSecurities Litigation Reform Act of 1995 provides a “safe harbor”for certain forward-looking statements. Allegiant Gold Ltd.’s (“Allegiant”)exploration plans for its gold exploration properties, the drillprogram at Allegiant’s Eastside project, the preparation andpublication of an updated resource estimate in respect of the OriginalZone at the Eastside project, Allegiant’s future exploration anddevelopment plans, including anticipated costs and timing thereof;Allegiant’s plans for growth through exploration activities,acquisitions or otherwise; and expectations regarding futuremaintenance and capital expenditures, and working capitalrequirements. Forward-looking statements are statements andinformation regarding possible events, conditions or results ofoperations that are based upon assumptions about future economicconditions and courses of action. All statements and information otherthan statements of historical fact may be forward-looking statements.In some cases, forward-looking statements can be identified by the use of words such as “seek”,“expect”, “anticipate”, “budget”, “plan”,“estimate”, “continue”, “forecast”, “intend”,“believe”, “predict”, “potential”, “target”,“may”, “could”, “would”, “might”, “will” andsimilar words or phrases (including negative variations) suggestingfuture outcomes or statements regarding an outlook. Suchforward-looking statements are based on a number of material factorsand assumptions and involve known and unknown risks, uncertainties andother factors which may cause actual results, performance orachievements, or industry results, to differ materially from thoseanticipated in such forward-looking information. You are cautioned notto place undue reliance on forward-looking statements contained inthis press release. Some of the known risks and other factors whichcould cause actual results to differ materially from those expressedin the forward-looking statements are described in the sectionsentitled “Risk Factors” in Allegiant’s Listing Application,dated January 24, 2018, as filed with the TSX Venture Exchange andavailable on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from thoseanticipated in such statements. Allegiant undertakes no obligation toupdate or revise any forward-looking statements included in this pressrelease if these beliefs, estimates and opinions or othercircumstances should change, except as otherwise required byapplicable law.
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