High-Grade Results From Tailings-Waste Dumps At Former Boss Mine

TONOPAH, NV - Allegiant Gold Ltd. reported the finding of high-grade gold and silver on existing heap leach and waste dumps at the former operating Boss Mine, within the Castle Project of the Eastside District. Allegiant sampled material from existing waste dumps and tailings. A total of 79 samples were collected and analyzed for gold, silver and other elements, the majority from the Boss Mine’s leach pad.

Sampling included: 1) Coarse fraction (1/16-inch) samples from the Boss Mine’s leach pad samples returned up to 8.02 g/t Au and 28.2 g/t Ag. 2) Fine fraction (1/16-inch) samples from the Boss Mine’s Leach pad returned up to 2.10 g/t Au and 5.2 g/t Ag. 3) Dump samples returned up to 22.2 g/t Au and 10.2 g/t Ag.

The leach pad area covers approximately 5.0 hectares and dumps cover approximately 11 hectares. Further sampling and drilling of leach pad and dumps is planned over the coming months. Metallurgical testing is planned later this year.

The Boss Mine was a producing mine from 1987 to 1989 (see Map 1).  It is estimated that the Boss Mine produced over 32,000 Au ounces from 650,000 tons at an average grade of 0.058 opt (1.99 g/t Au); recovery for silver and other metals of value is unknown.  

Peter Gianulis, CEO, said, “We continue to advance the Castle Area, encompassing the Berg, Blackrock, Boss and Castle Zones, toward delineation of an economic resource.  Our goal is to develop the Eastside District in two to three phases led first by the Castle Area, then moving onto the McIntosh Zone, and then into the other new areas to be discovered. We are encouraged by the initial results of our leach pad testing that suggest higher than expected gold and silver content.  This would be the first phase in the development of the Castle Area that could provide important cash-flow to help develop the follow-on phases of the district.  With a land package covering greater than 80 km2, we believe we will continue to make new discoveries.”