Drill is turning. Allegiant Gold recently began its drilling at Eastside and has expanded the program to over 14,000 meters from 12,000 meters of drilling. Allegiant intends to drill up to 30 reverse circulation holes to an average depth of 200 meters in the East Pediment area immediately east of the Original Pit Zone. The rig will then be moved to the West Anomaly where 10 reverse circulation holes will be drilled with an average depth of 300 meters. Core drilling will begin in early May to test the high-grade zone within the western edge of the original pit zone. We expect two rigs to be in operation at Eastside through the remainder of the year.High grade zone could be a game changer. Recall that in May 2021, results from Allegiant’s nine-hole drill program returned strong gold intercepts for Holes 239, 243, 244, and 245. With the recent C$4.0 million investment by Kinross Gold Corporation (NYSE: KGC, TSX: K), along with its technical advisory support, deeper core drilling will help to better assess Eastside's high-grade potential. While Eastside is generally conceptualized as a low grade, bulk tonnage open pit mining scenario, the high-grade zone offers the potential to enhance the project’s economics, including the possibility of a high-grade starter pit. Investors will likely focus on the core drilling program since it could change how the project is conceptualized and influence the trajectory of Kinross’ involvement.Fully funded. Allegiant’s expanded drilling program is fully funded. With a high-profile strategic investor on board and a well-conceived drill program in place, along with an expanded permitted area to enable new prospective targets in and around the original pit zone, this year could be pivotal for Allegiant.Rating is Outperform. Results from the company’s drilling programs could provide catalysts for the stock. While Eastside already has an inferred resource of 1.4 million gold ounces and 8.8 million silver ounces, we think Eastside could develop into a multi-million-ounce gold resource representing significant upside potential for shareholders. Read More >>