- Oops!Something went wrong.Please try again later.
VANCOUVER, BC, Nov. 22, 2021 /CNW/ - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (the "Company" or "Eminent") is pleased to report recent soil sampling results which have refined two clear north-south trending soil anomalies of 1.5 kilometers (km) and 1.2 km coinciding with the Bighorn and Pretty Boy/ East Bounding (EB) fault zones at its Gilbert South property. Gilbert South is located 30 km west of Tonopah (Figure 1) within the Walker Lane trend (total gold endowment of over 80 Moz Au and 700 M oz Ag1).
The Company's technical team had previously identified multi-kilometer faults coinciding with rocks containing up to 31 g/t gold that are associated with numerous epithermal quartz veins that trend north to south across the property. The encouraging gold in soils results (Figure 2) spread between the Wildhorse and Pretty Boy fault zones overlie the area of an ammonium anomaly previously identified (see October 2021 news release on Gilbert South).
Paul Sun, President and CEO of the Company commented:
"Results from Gilbert South confirm our technical team's deposit model and target priorities which demonstrate the strong potential for the discovery of a robust gold system. The final step prior to drilling will be the completion of geophysical surveys which are underway.
We are very excited about the company's high quality large scale Nevada focused gold portfolio which has been advanced with drilling anticipated in early 2022."
Significance of Soil Results
Soil results have demonstrated that the 1.5 km wide region in between the 2.5 km long Bighorn and Pretty Boy/EB faults is anomalously mineralized with gold in soils containing <0.70 ppm gold.
Summary of Soil Sampling
Soil samples were taken on a 100-meter by 100-meter isometric grid across the property except where samples were taken by previous operators (Figure 2). Following completion of this survey, the Company's technical team identified mineralization outside and immediately adjacent to the original land package. This ground, ~150 hectares, was subsequently staked and the 100-meter by 100-meter soil grid extended to cover this new land area. Soil results from this area are currently pending and are not included in results discussed here. Following receipt of pending soil results as well as an interpretation of a geophysical survey underway, specific drill targets for 2022 will be solidified.
Dan McCoy, Chief Geologist and Director commented:
"These soil results strongly support preceding lines of evidence that the Bighorn and Pretty Boy/EB faults are the most prospective structures to host bonanza grade gold in epithermal veins. Earlier rock chip results demonstrated 2.5 kilometers of mineralized strike length along the faults and spectral data demonstrated these structures to be deeply rooted hydrothermal pathways. We look forward to refining the geometry of these targets at depth from the geophysical survey currently in progress and advancing this project to the drill ready stage in 2022."
All scientific and technical information in this news release has been prepared by, or approved by Justin Milliard, PGeo. Mr. Milliard is Project Geologist for Eminent and is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
1. Energyandgold.com. A Junior Mining Management Team That Doesn't Know How To Lose Is Back With The Next Incredible Opportunity In Nevada Gold Exploration. 2020 8/24/2020; Available from: http://energyandgold.com/2020/08/24/a-junior-mining-management-team-that-doesnt-know-how-to-lose-is-back-with-the-next-incredible-opportunity-in-nevada-gold-exploration/.
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 Gilbert South property, the Company's expectations for the potential of the Gilbert South 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 Gilbert South 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.
SOURCE Eminent Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2021/22/c5946.html