Eminent Gold Corp. reports developments tied to its Nevada gold exploration portfolio, including the Hot Springs Range Project, Celts and Gilbert South. Company news centers on Carlin-style gold targeting in the Great Basin, drilling at the Hot Springs Range and Otis target, assay methods, exploration-team appointments and investor presentations. Updates also include capital-structure activity such as warrant exercises and early warning reports involving strategic shareholdings.
Eminent Gold (OTCQB: EMGDF) has announced significant findings from its gravity geophysics program at the Hot Springs Range Project (HSRP) in Nevada. The survey, conducted by Tom Carpenter Geophysical Services and analyzed by veteran geophysicist Jim Wright, has identified five distinct exploration targets within the property.
The survey revealed three targets within the northeast-trending HSR corridor, confirming the previously identified Otis, Sitka, and Eden targets. The corridor hosts over 10 kilometers of cumulative strike length defined by multiple NE-trending faults. Previous drilling has already intersected gold mineralization along a 400-meter segment of the Otis fault, validating the potential of these structures.
Two additional targets were identified, including a high-density anomaly potentially indicating a magmatic intrusion, and a gravity low interpreted as a recessively weathered basin. The project's structural characteristics share similarities with Nevada's Carlin-type deposits, particularly the Turquoise Ridge deposit located 15 kilometers southeast.
Eminent Gold Corp. (OTCQB: EMGDF) has engaged True North Drilling for the next phase of diamond core drilling at its Hot Springs Range Project's (HSRP) Otis target in Nevada. The company recently completed a project-wide gravity survey, with drilling details to be announced after survey interpretation.
Previous drilling at HSRP yielded promising results with gold grades up to 8 g/t Au, validating the company's exploration model. Notable intercepts include 2.9m at 2.2 g/t Au and 3.9m at 2.4 g/t Au. The project, while not adjacent, shares structural characteristics with the prolific Getchell Trend and is positioned across a basin from this major gold-producing district.
The HSRP includes three high-priority areas—Otis, Eden, and Sitka—which share geological traits with Turquoise Ridge and Twin Creeks deposits.
Eminent Gold Corp. (OTCQB: EMGDF) has completed the final payment for its Celts Project acquisition in Nevada's Walker Lane Trend. The payment of US$325,000 was satisfied through issuing 1,364,752 common shares at CAD$0.3283 per share.
The 560-hectare Celts Project shares geological features with the significant Silicon-Merlin hydrothermal system. Surface samples have yielded up to 33 g/t gold, and recent IP surveys have identified a potential mineralizing structure. Notably, Barrick Gold has staked approximately 1,743 hectares adjacent to Celts, validating the area's potential.
This acquisition strengthens Eminent's portfolio of three 100%-owned, drill-ready projects across Nevada's gold trends, including Hot Springs Range and Gilbert South.
Eminent Gold Corp. (OTCQB: EMGDF) has initiated a high-resolution gravity geophysical survey at its Hot Springs Range Project (HSRP) in Humboldt County, Nevada. The survey, conducted in collaboration with Kinross Gold Corporation, a 9.9% shareholder, focuses on the Otis target area adjacent to the 50-million-ounce Au Getchell Trend.
The survey aims to identify structural features that could control mineralization and enhance drill targeting. The company plans to resume drilling in August after completing and interpreting the gravity data. The program will also examine the entire 15km-long Hot Springs Range trend, including the Eden and Sitka targets, potentially revealing new exploration opportunities.
Eminent Gold Corp (TSXV: EMNT) (OTCQB: EMGDF) has exercised its option to acquire 100% ownership of 168 optioned claims at the Hot Springs Range Project (HSRP) in Humboldt County, Nevada. The project now comprises 419 unpatented lode mining claims, covering approximately 3,500 hectares across Eden Valley.
The company fulfilled all obligations under the March 2020 Option Agreement with Milliard Geological Consulting, which included:
- USD $136,140 in cash payments
- 1,650,000 common shares issuance
- Final USD $1,500,000 payment (satisfied through 5,832,941 common shares)
The Optionor retains a 2% Net Smelter Royalty (NSR), which Eminent can purchase in 0.1% increments for USD $100,000 each, up to 1%. The final share issuance was made at CDN$0.3604 per share, with a hold period until August 12, 2025. The project shows geological similarities to the 50-million-ounce Getchell Trend, with first drill hole results supporting the company's exploration thesis.
Eminent Gold Corp (TSXV: EMNT) (OTCQB: EMGDF) has announced significant resistivity results from two Induced Polarization (IP) lines at its Celts project in Nevada. The survey revealed a large west-dipping fault beneath steam-heated cap rocks, showing structural similarities to the Silicon deposit, which hosts 3.40 million ounces of indicated and 800,000 ounces of inferred gold resources.
The geophysical results identified a fault with normal displacement under high-resistivity steam-heated cap rocks rich in silica. This structural configuration mirrors the Silicon deposit's characteristics, where mineralized fluids historically moved up similar faults above the paleo water table. The company plans to initiate permitting for drill roads and pads to test this geological model.
Eminent Gold Corp (TSXV: EMNT) (OTCQB: EMGDF) has initiated a test geophysical program at its Celts project in Nevada, consisting of two Induced Polarization (IP) lines. The company believes Celts is analogous to the Silicon discovery, which has 3.40 million ounces of indicated and 800,000 ounces of inferred gold resources.
The IP program, conducted by Zonge International from Reno, will cover the high-grade historical vein on the property's east side and potential precious metal mineralization under the steam-heated alteration cap. If significant chargeability-resistivity signals are detected, additional lines will be added to better define potential gold-bearing structures. This technique was successfully used by AngloGold Ashanti at Silicon to identify gold-bearing zones under similar conditions.
Eminent Gold Corp. (EMGDF) has completed the acquisition of the Celts Project in Nevada for US$400,000. The transaction includes an initial payment of US$30,000 in cash and 145,384 common shares valued at US$45,000. The remaining US$325,000 will be paid within six months either in cash or shares.
The company now holds 100% interest in the Celts Project through its subsidiary Hot Springs, subject to a 3% net smelter returns (NSR) royalty. The project is located approximately 100 km northwest of the Silicon multimillion-ounce mining complex. Eminent can reduce the NSR royalty by one-third (to 2%) for US$1,500,000.
The company plans to initiate a geophysical survey followed by a maiden drill program. Currently, drilling operations at Hot Springs Range have reached approximately 1,400 feet of an estimated 1,600-foot target in the second hole.