Jul 24 2020
Allegiant Gold Ltd reports that drilling has started at its 100% owned, Carlin-style, Bolo gold project situated in Nevada.
Map: Bolo Gold Project 2020 Planned RC Drill Holes and Gold Targets. Image Credit: Allegiant Gold Ltd.
The program has been conducted by New Placer Dome Gold Corp. (formerly Barrian Mining Corp.), which will earn a preliminary 50.01% interest in Bolo by making share payments to Allegiant summing US$1 million and finishing US$4 million in exploration costs.
Bolo is an exciting emerging discovery located in one of the greatest mining jurisdictions in the world. We are thrilled that the initial drill program was expanded and commenced ahead of schedule.
Peter Gianulis, Chief Executive Officer, Allegiant Gold Ltd
The Mine Fault as well as other mineralized structures hosting the Norther Extension, Uncle Sam, and South Mine Fault will be targeted by an initial 12 high-priority RC drill holes that total 3,500 m.
Drilling at Bolo will focus on testing Carlin-style gold mineralization at depth in the South Mine Fault Zone where gold-silver mineralization remains open and untested along strike and at depth.
New Placer Dome Gold Corp.
New Placer Dome added that “The 2020 program will expand and step-out on results from the 2019 program (see New Placer Dome news release dated November 7, 2019 available on www.sedar.com) including:
- 84 meters of 1.37 g/t gold in hole BL19-011, and
- 122 meters of 1.2 g/t gold in hole BL19-04, and
- New discovery of 12.2metres of 3.32 g/t gold in hole BL19-04
The 2020 program will also test the continuity of mineralization between the South Mine Fault Zone and Uncle Sam Silver Zone, where a 2019 outcrop sample yielded 3.63 g/t gold with 262 g/t silver.”
“The combined 2019 and historical RC drilling at Bolo defines a 1.2 kilometer north-south trending corridor of gold-silver mineralization containing the South Mine Fault Zone, Uncle Sam, and Northeast Extension zones,” noted New Placer Dome.
Gold mineralization at Bolo exhibits characteristics of classic Carlin-type mineralization, including strong subvertical structural control in addition to evidence of gold mineralization extending laterally at low angles within favorable silty carbonate units.
New Placer Dome Gold Corp.
“The relatively untested 500 m strike length South Mine Fault-Uncle Sam segment is particularly prospective and is the main focus of New Placer Dome’s 2020 exploration designed to prove-out these compelling structural and stratigraphic gold targets,” explained New Placer Dome.