Project Overview
The Castle Black Rock project (“Castle”) is a gold-silver property located approximately 35 kilometers from the town of Tonopah in Esmeralda County, Nevada and is wholly owned and operated by Allegiant Gold Ltd. (“Allegiant”). Castle is a low-sulfidation, mostly oxidized, epithermal gold-silver system within Allegiant’s Eastside project. Exploration began in the 1970s followed by an extensive shallow drilling program in 1979. Gold Royalty acquired a 2% NSR on the Castle and Black Rock zones of the Eastside project in August 2021 as part of the Ely Gold Royalties acquisition.
In January 2020, Allegiant announced an updated Resource Estimate on Castle showcasing inferred resources of 278,000 gold ounces grading 0.51 g/t Au. In April 2021, 49 RC drill holes totalling 5,850 meters were completed to increase contained ounces and assess the potential of a start pit in the Castle area.
Throughout 2023, Allegiant plans to continue pursuing necessary permitting to commence drilling at Castle. The permitted program will drill approximately 2,300 meters in 20 holes and test the resource expansion potential around the current inferred resource. The program is expected to begin in early 2023.