The Bolo Project is 100% owned by Allegiant, subject to underlying royalties, and is located 90 kilometres northeast of Tonopah, Nevada. A 14-hole reverse circulation drill program, totaling 2,806 metres, was recently completed at Bolo, see news release dated August 31, 2017. Samples from the drill program will be sent to the lab for assaying after Allegiant lists.
The target at Bolo is Carlin-style gold mineralization, similar to the gold mineralization that can be seen at the Pinson, Lone Tree/Stonehouse, and Turquoise Ridge/Getchell, all multimillion ounce producers, where gold spreads into wall rocks along high-angle structures. Gold values ranging from 0.34 to 8.6 g/t gold have been obtained at Bolo from jasperoids and iron-stained structures cutting Cambrian and Ordovician sedimentary rocks, along two parallel north trending faults known as the Mine Fault and the East Fault. Both of these fault zones represent excellent drill targets. Alteration along the Mine Fault has been traced for 2,750 metres, with outcrop sampling returning gold values up to 8.6 g/t gold. The East Fault has been mapped for 2,200 metres and has returned gold values up to 4.7 g/t gold.