The White Horse North project is 100% owned by Allegiant, subject to underlying royalties, and is located approximately 74 km south of Wendover, Nevada.
White Horse North has been explored by a number of senior mining companies, including Noranda and Freeport McMoran, and Columbus, who mapped the geology in detail and sampled many of the altered surface exposures. Noranda conducted a mapping and sampling program at the northern end of White Horse North in the early 1980's and drilled at least 10 holes. However, no data is available from the work that Noranda completed. Freeport McMoran drilled 21 holes at the southern end of White Horse North and 11 of the holes contained intervals grading better than 0.10 g/t gold, with hole DB-3 returning 33 metres of 0.26 g/t gold. However, no drilling has been conducted in the areas that Allegiant believes is the most prospective for discovery.
The target at White Horse North is in the Mississippian to Permian sedimentary rocks up dip from the jasperoid along the top of the Devonian Guilmette Limestone. This is the exact same geologic setting that led to the discoveries of the Alligator Ridge, Emigrant/Rain, and the Dee/South Arturo gold mines in Nevada, all of which have produced in excess of one million ounces of gold. These favorable sedimentary rocks, stratigraphically above the Guilmette, are recessive weathering and are generally covered with thin alluvium.
White Horse North is underlain by Devonian Guilmette Formation, Mississippian Joana Limestone and Chainman Shale, Pennsylvanian Ely Limestone, and Permian limestones and sandstones. The sediments generally strike to the northeast and dip moderately to the southeast although early folding and later faulting has locally caused considerable variation in this general attitude. The sediments are locally intruded by well-altered quartz latite and weakly altered andesite dikes. The major faults trend NNW with en echelon WNW offsets. Alteration consisting primarily of episodic silicification, bleaching and iron-staining occur at the top of the Guilmette, well into the Chainman and, locally, into the Joana along these NNW structures. This alteration pattern has a strike length in excess of 5,180 m. Modest to strong arsenic, antimony, mercury and weak to moderate gold anomalies occur locally along this trend. The best alteration and mineralization located to date occurs at the intersection of the NNW and WNW trending structures near the center of the project. Gold values as high as 0.54 g/t gold and 0.80 g/t gold have been found in surface samples taken in this area, along with high levels of arsenic and antimony. The Jurassic White Horse Pluton is exposed in the southern portion of the claim block.