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Allegiant Gold dropping Hughes Canyon project in Nevada

Despite "encouraging" drilling results, Allegiant Gold Ltd. is abandoning its Hughes Canyon gold property in Nevada to prioritize other exploration projects.

The company said Jan. 17 that it drilled 2,139 meters in 12 rotary holes at the early-stage project, which returned gold grades of up to 1.20 g/t as well as silver mineralization in one drillhole.

Allegiant is drilling on six projects in Nevada; the program is expected to be completed in June.

Drilling started at Red Hills in August 2018, drilling at North Brown was completed in December 2018 and drilling at Monitor Hills is expected to resume shortly.

The company has 14 drill-ready gold projects in the U.S., including 11 in Nevada. Its flagship asset is the Eastside project.