Vancouver, Canada, October 17, 2022 – Eminent Gold Corp. (TSX-V: EMNT) (OTCQB: EMGDF) (the "Company" or “Eminent”) is pleased to announce that it has begun a geophysics survey at its Meadow Canyon target (Fig. 1 and Fig. 2) after receiving approval from the U.S. National Forest Service (“USFS”). Additionally, positive results from several infill soil samples further support the concept of a buried mineralizing system at Meadow Canyon. A geophysical program designed to reveal the architecture of obscured faults to determine the structure’s potential to host gold mineralization has launched with results expected before year end.
Paul Sun, President and CEO of the Company commented:
“The geophysics at Meadow Canyon will be a key step in determining the strength of our thesis that we could have a potential epithermal system analogous to the 23 Moz Round Mountain mine1,2 13km away on the other side of the mountain range. We look forward to working with the USFS personnel through our Plan of Operations and continue to maintain our stewardship to the environment we work in.”
- The Company received an approved Notice of Intent (“NOI”) from the positive Record of Decision from the USFS to proceed with a geophysical survey at Meadow Canyon. This decision establishes a positive working relationship with the Forest Service in this district and bodes well for future permitting of the Plan of Operations.
- Eminent’s geophysical survey will cover 5.6 square kilometers at Meadow Canyon. Results of this survey will provide data the Technical Team needs to move forward with development of drill targets and the associated Plan of Operations for the Project.
- Infill soil tests surrounding an earlier gold anomaly (see April 27, 2022 News Release) bolster the concept of a buried gold system at Meadow Canyon.
Dan McCoy, Chief Geologist and Director commented:
“The Meadow Canyon target has the potential to develop into a new major gold target in Nevada. Early discrete indications through geochemistry results on surface and its proximity to the Round Mountain mine indicate the potential for an obscured mineralized gold system to be present. The geophysics will be the remaining study required to identify drill targets prior to completion of the Plan of Operations and drilling.”
All scientific and technical information in this news release has been prepared by, or approved by Justin Milliard, PGeo. Mr. Milliard is Vice President of Exploration for Eminent Gold Corp. and is a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Project.
- Rhys, D. A., Jean, N. S., Lagos, R., Emmons, D., Schroer, G. A., & Friedman, R. (2020). Geology of Round Mountain, Nevada: A giant low-sulfidation epithermal gold deposit.
- Patterson, M. V. a. L. (2020). Major Mines of Nevada 2019: Mineral Industries in Nevada’s Economy. Special Publication P-31. University of Nevada, Reno, Nevada Bureau of Mines and Geology.
Figure 1. Digital geologic map of Nevada from the Nevada Bureau of Mines and Geology showing the regional geology to include major faults, gold mineral occurrences, Spanish Moon Targets (red stars = targets outside of Meadow Canyon Plan of Operations, pink star = target within Meadow Canyon Plan of Operations), and arsenic anomalies (Shaw, 2003). Round Mountain gold endowment from Kinross (2021), Jefferson Canyon inferred gold resource from Gold79 (2022).
On behalf of the Board of Directors,
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 Spanish Moon property, the Company’s expectations for the potential of the Spanish Moon property, the Company’s plans for generating drill targets based on current information and the generation of information from the proposed geophysical survey. 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 Spanish Moon property are accurate and correct and that the sampling results are indicative of the target areas as a whole, 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, the Company’s assumptions may prove incorrect; changes in economic conditions or financial markets; the inherent hazards associated 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; adverse weather conditions may affect the Company’s ability to conduct work programs, availability of qualified personnel, changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, 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.