Allegiance Resources begins three‑day Nevada tungsten field program
Mapping and sampling will cover 17 Golden Scheelite claims; the company disclosed no program budget or assay-reporting date.
Theo Marchetti
Allegiance Resources Corp. CNSXALLG FRABG5, which trades on the Canadian Securities Exchange and in Frankfurt, said Friday it had begun a three-day field program at Golden Scheelite in Nevada. The work covers 17 claims totalling about 347 acres and aims to trace tungsten-bearing skarn beyond historical workings.
Allegiance shares closed at C$0.18 on Oct. 15 in Google Finance's 4 p.m. EDT snapshot for CNSXALLG. That close preceded Friday's announcement.
The Oct. 16 release discloses no program budget or cash balance and gives no assay-reporting date. Additional surface work and potential drilling depend on the results, so the announcement does not establish funding for those later stages.
Allegiance is a Canadian mineral explorer that holds Golden Scheelite through its wholly owned U.S. subsidiary. The Nevada property has no underlying royalty, according to the release, and the current program consists of mapping, grab sampling and reconnaissance.
Fieldwork Will Test the Historical Record
The company's geological contractor is on site and will map historical workings and skarn along the contact between schist and quartz monzonite. Crews will use ultraviolet lamps at night to locate scheelite where prospective skarn is exposed.
The contractor will record GPS locations, photographs and structural observations across the claims. Allegiance intends to combine those records with laboratory results to identify areas warranting more surface work and possible drilling.
"This program is about establishing the geology, testing the historical record and determining where the tungsten-bearing skarn extends beyond the old workings," chief executive Kelly Abbott said in the release.
After the fieldwork, Allegiance plans to submit grab samples to an independent laboratory for tungsten analysis using fusion methods. The company also intends to compare its findings with historical geological and production records to determine what can be independently corroborated.
Geophysical surveying and additional systematic sampling are possibilities the company will evaluate for areas with limited exposure. The release does not announce a drill schedule or a commitment to carry out either follow-up method.
Tungsten West plc LONTUN reported on Sept. 15 that ore processing had begun at its Hemerdon tungsten and tin mine in Devon, Britain. Its stated next step was a progressive ramp-up toward targeted steady-state production.
Read more: EU strategic status for the Borralha tungsten project
Shares Are Proposed for Consulting Debt
Allegiance also proposed on Oct. 16 to settle C$24,000 of exploration-consulting debt by issuing 145,454 common shares. The deemed issue price is C$0.165 a share, and no finder's fees are payable.
The CSE listed 12,985,390 shares outstanding in its issuer profile checked Oct. 16. The proposed issuance equals about 1.1 per cent of that existing share base.
The settlement remains subject to CSE policies and cannot close earlier than five business days after the Oct. 16 release. Allegiance will report exploration results after receiving and reviewing assays, but supplied no calendar date for that update.
