Preparation for upcoming drilling. Allegiant Gold has started road construction in and around the recently discovered high-grade zone within the western edge of the original pit zone at its Eastside gold deposit near Tonopah, Nevada. Roads will also be built in and around areas to the east and west of the original pit zone to test additional targets.Drilling could commence as early as December. Allegiant has already provisioned drilling contractors and equipment. Plans include drilling up to 9 diamond core holes to define the high-grade areas discovered during the most recent drill program that ended in April. Recall Holes 239, 243, 244 and 245 returned strong gold intercepts. For example, Hole 243 returned 2.55 grams of gold per tonne over 147.8 meters, including 13.49 grams of gold per tonne over 24.4 meters. Reverse circulation (RC) drilling will be focused on the east pediment zone and the western high-grade anomaly and entail 20 to 30 holes to about 200 meters depth. We think RC drilling could begin in early December with core drilling starting early in 2022.Growing potential at Eastside. In September, Allegiant received Bureau of Land Management approval to significantly expand its drilling activities and plan of operations around and beyond the existing original pit zone, including the recently discovered high-grade zone. Allegiant's most recent exploration and drilling programs culminated in a significant increase in inferred gold resources. Allegiant has increased the project's potential with an expansion of the permitted area, plan-of-operation, and the execution of a lease with an option to purchase 84 mineral claims adjacent to and west of the original pit zone at Eastside. Management thinks the western edge of the original pit zone is host to higher-grade zones.Rating is Outperform. Allegiant has made significant progress in advancing its Eastside project. In addition to increasing resources, the company has actively sought to expand the project area and has a clear plan to add resources through drilling and to define the project's newly discovered high grade areas. In our view, Eastside could develop into a multi-million ounce resource and represents significant upside potential for shareholders.Senior Analyst: Mark ReichmanContact at: mreichman@noblecapitalmarkets.comREPORT ATTACHED – if you experience difficulties obtaining the report, please, contact Director of Research at: mkupinski@noblecapitalmarkets.com Read More >>