VANCOUVER, BC, July 14, 2021
/CNW/ - Eminent Gold Corp (TSXV: EMNT) (the
"Company" or "Eminent") is pleased to announce that
it has successfully concluded its surface geophysical and rock
sampling programs at its Hot Springs Range Project (HSRP) (Fig.
1-2). The program both confirms the Company's exploration model and
delivers clearly defined drill targets less than 200 meters from
the surface under post-mineral cover (Fig. 3-4). The geophysics
shows important structural intersections that are present in
Carlin-style gold deposits; where steeply dipping feeder faults
intersect shallowly dipping thrust faults as observed at the
42 M oz Getchell Trend located
approximately 15 km to the southeast of the project.
The rock sampling program has demonstrated the host rocks at the
project are gold bearing with results up to 2.8 g/t gold adjacent
to the newly defined target areas. Together the geological,
geophysical, and geochemical settings of the project have a
striking similarity to the Getchell Trend deposits (Fig. 5) and the
Company plans to ideally drill the project during Q4 as it looks to
make a discovery.
Paul Sun, President and CEO of
the Company commented:
"The positive geophysical results and gold-in-rock surveys are a
huge milestone for Eminent as this property has never been explored
and yet is so close to multiple world class gold deposits. Our
extremely talented technical team has developed this concept and
has successfully taken the project from a grassroots stage to its
first ever drill program.
Eminent is well on its way to rapidly advancing the remainder of
its pipeline of three more highly prospective gold projects
(Weepah, Spanish Moon, and Gilbert
South) to a drill-ready stage in the coming months. The
company anticipates to consecutively drill its portfolio of
opportunities starting in Q4 2021 as it continues its goal of
making Nevada's next major gold
discovery."
The Hot Springs Range Project
Land Position
HSRP is located in Humboldt County Nevada, approximately 50 km
northeast of the town of Winnemucca and 20 km northwest of the Getchell
Trend. The property is comprised of over 3,500 hectares of highly
prospective ground that has seen no exploration activity prior to
being acquired by the Company in 2020.
HSRP – Getchell Analogous Structural Framework
The
Eden Valley, Getchell, East Hot Springs Range (HSR), and East
Osgood Mountains fault zones are subparallel sets of primary,
northwest striking, reactivated normal faults that are part of a
series of similar faults that form the Battle Mountain-Eureka Trend
in northern Nevada. These
long-lived faults served as feeders for gold-bearing fluids, as
they were tectonically active in the Late-Eocene; a time period
contemporaneous with formation of most Carlin-type gold deposits in Nevada. These fault sets are known at the
Turquoise Ridge Complex to be primary controls on gold
mineralization and analogous fault geometries have been identified
at the HSRP in the recent acquisition of geophysics by Controlled
Sources Audio-frequency Magnetotellurics (CSAMT). At the HSRP, the
northeast oriented faults trend between the Otis and Eden target
areas which have comparatively similar in geometry to the
"TR-corridor" faults at the Getchell Trend, which extend between
the Turquoise Ridge and Twin Creeks deposits. Lastly, both systems
have a shallowly dipping thrust fault, which was recently
interpreted by the technical team from the CSAMT to exist at HSRP.
This thrust fault served as a trap for gold-bearing fluids, where
they reacted with receptive country rocks to form large gold
deposits.
HSRP – Getchell Analogous Distal Au-Fingerprint
The
distal geochemical fingerprint of the HSRP's Otis target and the
Turquoise Ridge deposit are analogous. The main difference between
the two systems is the slightly greater thickness of post-mineral
cover at HSRP that obscures a geochemical signal at the updip
exposures of the faults. At HSRP where the thrust fault, dikes and
Eden Valley fault are exposed near the Otis drill target the
geochemical signal of a Carlin-style gold system (0.4-2.8 g/t Au)
is analogous to what is found at the Getchell Trend (~0.1-3 g/t
Au).
Dan McCoy, Chief Geologist of
the Company commented:
"The opportunity at our Hot Springs Range Project is unique:
its technical characteristics are quite remarkable and are
highly analogous to the Getchell trend, which hosts some of
Nevada's largest gold mines."
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.
On behalf of the Board of Directors,
"Paul Sun"
CEO and 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 Project, Weepah,
Gilbert South, and Spanish Moon
District.
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
Company's exploration plans for the Hot Springs Range property, the
Company's expectations for the potential of the Hot Springs Range
property, and the Company's plans for drilling on the Hot Springs
Range Project. 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 on the Hot Springs Range property
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.
SOURCE Eminent Gold Corp.