In December 2017, Allegiant Gold Ltd., a former subsidiary of Columbus Gold Corp. (CGT: TSX), was spun-out to form an independent company focused exclusively on precious metals exploration in the western United States. ALLEGIANT has owned many of the propertiesi n the portfolio for over 10 years as part of Columbus Gold Corp. It began trading on the TSX Venture Exchange under the trading symbol “AUAU” and in the U.S. under the trading symbol “AUXXF”.
ALLEGIANT holds a 100% interest in 10 projects in the southwestern United States with 7 being located in the mining-friendly jurisdiction of Nevada. The majority of the projects were discovered and developed by Andy Wallace, former Head of Cordex. Cordex is considered by many in the mining industry to be one of the most successful gold exploration groups in the United States. Cordex was founded by the legendary John Livermore, who discovered the Carlin Mine in Nevada and a new type of gold mineralization that is now referred to as "Carlin-Type". Cordex is credited with an unprecedented nine gold discoveries in Nevada.
ALLEGIANT has been one of the most active explorers in the gold sector. The flagship project known as Eastside hosts a large and open resource, located in an area of excellent infrastructure. Approximately 65,000 metres and 250 holes have been drilled at Eastside since 2011. The Original Zone at Eastside hosts a pit-constrained inferred resource totaling more than 1.1mm gold equivalent ounces with excellent potential for substantially increasing the total resource at Eastside. Preliminary metallurgical testing indicates that both oxide and sulphide mineralization at the Original Zone is amenable to heap leaching. The Castle Zone in the South Zone of Eastside also hosts numerous exploration targets and a historical resource of 272,153 oz. gold (11,177,761 tons grading 0.82g/t gold).