Vancouver, British Columbia--(Newsfile Corp. - January 16, 2025) - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) ("the Company" or "Eminent") is pleased to provide its first core assays at the Hot Springs Range Project in Nevada (see Figures 1 and 2 for location), and to announce the 2025 drill program is underway.
Eminent completed the first core hole HSC002* in its maiden drill program at the Otis target within the Hot Springs Range Project ("HSRP") (see NR dated 12/31/24). The objective of the drill hole was to look for geologic and geochemical indicators that HSRP is an analogue to the prolific Getchell Trend (50-million-ounce gold endowment1) 15 km across the Eden Valley (Figure 2). The hole encountered significant alteration in the form of silica and hematite replacement of volcanic rocks and limestone (Figure 3 (plan) and Figure 4 (cross-section)). To date, only select samples chosen for gold rush assay have returned. Samples collected included 110 meters spread out over the top 300 meters of the hole, with the remaining 390 meters of the hole still awaiting assay.The best intercept to date is2.9 meters (m) of 2.2 g/t gold (Au) and 2,107 ppm arsenic (As), including 3.9 g/t Au over 0.91 m starting at 272.8 m downhole, which occurred in strongly faulted, silicified and hematite-replaced volcanic rocks (core photo in Figure 5). Several other samples in the gold-rushed samples assayed above 100 parts per billion (ppb) Au and/or 1,000 parts per million (ppm) As starting at 225 m depth and continuing to 295 m depth. The assays are not complete over this interval so additional anomalous samples may be present.
Dan McCoy, Chief Geologist and Director commented:
"Our thesis is that our Hot Springs Range Project may represent a prolific parallel version of the nearby Getchell Trend. Our first partially reported drill hole, which did not cross the main structure, intersected strong alteration as well as significant gold and arsenic within the alteration.
The second hole is currently drilling across nearby primary structures, which we feel may be associated with the heart of the system."
The information obtained from this hole provides a clear path for the second drill hole, which will target the intersection of NE faults with the NW Eden Valley fault and the thrust fault bounding the lower contact of the Home Ranch Terrane (see Figure 3 for location and Figure 6 for planned section). HSC002, despite having anomalous gold and arsenic numbers, did not cross any of these major structures (Figure 4).
Paul Sun, President and CEO of the Company commented:
"Hitting significant gold and arsenic in our first hole and on the other side of the Getchell Trend, where nobody has drilled before, is super exciting due to the magnitude of the nearby mines and the analogous features. We believe we are in the infancy of a potential world-class gold discovery in Nevada at our Hot Springs Range Project, and we are very excited to be advancing our other two projects towards drilling as gold's price and outlook improve."
All scientific and technical information in this news release has been prepared by, or approved by Michael Dufresne, PGeo. Mr. Dufresne is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Figure 1. Eminent Project Location Map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_002full.jpg
Figure 2. Location Map of HSRP project relative to the Getchell Trend.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_003full.jpg
Figure 3. Plan map showing lithology, significant faults, anomalous zones and traces of drill hole HSC002 and HSC003 (in progress). Hole HSC003: 55 deg dip In Progress.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_004full.jpg
Figure 4. Cross-Section of drill hole HSC002 showing the zone of gold and arsenic enrichment.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_005full.jpg
Figure 5. Gold and Arsenic-enriched drill core from HSC002.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_006full.jpg
Figure 6. Drill hole in progress. The trace of the drill hole is B-B' is shown on the plan map in Figure 3.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/237380_e4485598d4b3fa6a_007full.jpg
-
www.s25.q4cdn.com/322814910/files/doc_downloads/operations/ngm/Turquoise-Ridge-Technical-Report-March2024.pdf
-
Nevada Gold Mines. (2021, May 20). Investor Day Presentation. Barrick Gold Corporation.
-
Lane, T., Harvey, T., Moritz, R., Samari, H., & Breckenridge, L. (2021). Preliminary Economic Assessment NI 43-101 Technical Report Granite Creek Mine Project Humboldt County, Nevada, USA. Global Resource
*HSC001 aborted due to unusual drilling conditions at 21 meters
ON BEHALF OF THE BOARD OF DIRECTORS
Paul Sun
CEO & Director
About Eminent Gold
Eminent Gold is a gold exploration company focused on creating shareholder value through the exploration and discovery of world-class gold deposits in Nevada. Its multidisciplinary team has had multiple successes in gold discoveries and brings expertise and new ideas to the Great Basin. The Company's exploration assets in the Great Basin include: Hot Springs Range, Gilbert South and Celts.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements made in this news release include the anticipated completion of the private placement and the use of proceeds from the private placement. Although Eminent Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including the assumption that records and reports of historical work are accurate and correct, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop the Company's projects or its other projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of gold, silver and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the Company's projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237380
