Clanton Hills Silver Project Discovery Outcrop Program

RENO, NV - Allegiant Gold Ltd. reported an update on Clanton Hills silver project in Arizona.  Two high priority reverse circulation (“RC”) drill holes totaling 381 meters (1,250 feet) have been completed to date, and drilling is ongoing with a total of 10 holes in the current program. The first hole of the program was drilled under the discovery outcrop to test if the surface mineralization continues at depth. The hole was successful in intersecting similar geology downdip of the outcrop and based on the mineralized intercept encountered, the Company elected to drill a second hole off the same drill site with a different orientation to test the continuation of the zone along strike to the north. The third hole of the program currently being drilled is an approximately 250 meter step-out further to the north along strike from the outcrop and along the trend of the geophysical anomaly that appears to represent the mineralized zone present in outcrop. An additional seven holes totaling up to 1,400 meters of drilling is anticipated to be completed over the coming weeks to complete the program’s goal of identifying a new bulk tonnage primary silver discovery. Samples from the first hole were shipped to Skyline Labs in Tucson on an expedited basis for gold and silver fire assay analysis.  Furthermore, hand-held portable X-ray Fluorescence (“XRF”), providing qualitative analysis of the RC drill samples, has confirmed the presence of pathfinder elements that are a potential indicator of the presence of gold and silver mineralization. In particular, elevated zinc, manganese and lead values were identified intermittently from 23m down hole through to the end of the hole at 168 meters. The XRF is an effective real-time targeting tool being used during the 2020 Clanton Hills drill campaign.  

The Clanton Hills property represents a unique opportunity for a near surface primary silver discovery with the potential to host a bulk tonnage silver resource. The property consists of 32 mineral claims located in Yuma County approximately 112 km west of Phoenix. Most of the property is low lying and covered by alluvium with a central outcrop measuring approximately 25 meters by 90 meters in size, consisting of silicified breccias in contact with calcareous sediments.