Nevada’s Allegiant Gold Ltd. (TSX-V: AUAU) is now authorized to conduct exploration activities in bald and golden eagle habitat within its flagship project’s property area. The prospector’s land package spans over 22,000 acres.
The United States Fish and Wildlife Service provided the company with the necessary Eagle Take Permit early this week. Allegiant started working toward acquiring this crucial document in 2020 and submitted an application for it the following year. It will be valid until the end of 2029.
“This marks a significant achievement,” chief executive Peter Gianulis said. “By securing the Eagle Take Permit, we can move forward with our exploration activities in a manner that respects and protects the natural environment.”
The Eastside gold project in discussion is located 35 kilometres from Tonopah, a town with a rich mining history going back to the beginning of the 20th century.
It is home to the Tonopah Historic Mining Park: a 100-acre interactive museum dedicated to showcasing Nevada’s prominent role in American metal and mineral extraction over the years. Many think Tonopah is a haunted and spooky kind of place.
From the iconic Clown Motel to a mine that’s chock-full of haunted, unsolved mysteries, Tonopah is full of secrets and eerie history. #ad #sponsored @TravelNevada pic.twitter.com/yoXfdgQlDm
— Atlas Obscura (@atlasobscura) May 25, 2023
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Gold price surges in 2024
The yellow metal’s value has increased by over 16 per cent since January. It is currently worth about US$2,414 per ounce.
This price surge has been a significant driver of an increasing rate of trading volume on the Toronto Stock Exchange. Total financings on the TSX have jumped up by 98 per cent since Jan. 1 to around C$4.9 billion, the TMX Group Ltd (TSX: X) says.
“While 2024 had a quieter start, Canadian equity issuance has improved this spring, with momentum continuing thus far in May,” Michelle Khalili, a Managing Director at the Bank of Nova Scotia (TSX: BNS), said.
The high gold price is highly beneficial for gold producers operating in Nevada like Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF), SSR Mining Inc. (TSX: SSRM) and Kinross Gold Corporation (TSX: K).
Calibre Mining is a sponsor of Mugglehead news coverage
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