Allegiant Gold (AUAU.V) has completed its drill program on the North Brown project halfway December, which means we should be able to see the initial assay results in the next few weeks. The company has completed 11 drill holes for a total of 2,036 meters of rotary drilling on the high-priority zones where the alteration and geochem results are indicative of Carlin-type gold mineralization.
The drill program at North Brown is one of the six high risk – (potentially) high reward exploration campagins Allegiant is currently conducting. Three of the six projects (that were never drilled before) have now been drilled, and the data will provide Allegiant’s technical team with a lot of valuable insight to maximize the efficiency of future exploration programs. Allegiant’s flagship project still is the Eastside gold project near Tonopah, but we agree with the company’s thesis there are more undiscovered gold deposits in Nevada.