Eminent Begins IP Program at Celts Project in Nevada
Eminent Begins IP Program at Celts Project in
Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Eminent Gold Corp. (TSXV: EMNT)
(OTCQB: EMGDF) (FSE: 7AB) (the "
Company
" or "
Eminent
") is pleased to announce that it has
begun a test geophysical program consisting of two Induced Polarization (IP) lines at its Celts ("
Celts
")
project in Nevada (Figure 1). Eminent believes Celts is a strong exploration analogue to the recent
Silicon discovery (3.40 million ounces of indicated and 800,000 ounces of inferred gold resources
3
). The
program will consist of two test lines that will cover the high-grade historical vein on the east side of the
property, as well as potential precious metal mineralization under the steam-heated alteration cap
(Figure 2).
If a significant chargeability-resistivity signal is obtained, additional lines will be conducted
around that signal to better define a potentially significant gold-bearing structure.
The Company has contracted Zonge International out of its Reno, NV office to perform the work.
Zonge
is a pioneer in the use of Induced Polarization, which is used to both obtain signals indicating the
presence of small amounts of sulfides as well as silicification in the form of either quartz and/or
chalcedony
1
, both of which are typically present in low-sulfidation epithermal gold deposits.
IP was used
successfully by AngloGold Ashanti at Silicon to identify potential gold bearing zones under a similar
barren steam cap: "During October 2018, an orientation Induced Polarization (IP) pole-dipole survey
line, ~1.5 km in length, was completed over the core of the Silicon system by Planetary Geophysics that
delineated a coincident chargeable-resistive anomaly where mineralization had been intersected."
2
Paul Sun, President and CEO of the Company commented:
"As we wait with great anticipation for the results from Hole 2, expected in the coming weeks at our Hot
Springs Range Project, we are excited to advance our Celts project towards drilling through the
initiation of geophysics. Eminent is uniquely positioned with multiple premier gold exploration projects
in Nevada that have yet to see significant exploration. Notably, two of the three projects have
considerable untested analogues to major mines in Nevada."
Dan McCoy, Chief Geologist and Director commented:
"We are very excited about our pending results, but also about starting work at Celts using a technique
that got AngloGold Ashanti into discovery mode at its 13.2 Moz expanded Silicon Project. This will put
Celts in the position to experience inaugural holes in the second half of this year, supporting our goal
of exploring a pipeline of new world-class gold opportunities in Nevada as gold continues to perform."
About the Celts Gold Project
The Celts property was originally identified and staked by Orogen's technical team, the same group
responsible for AngloGold Ashanti's recent Silicon discovery, which boasts 3.4 million ounces of
indicated gold resources and 800,000 ounces of inferred gold resources
3
. Following the success at
Silicon, AngloGold discovered a more extensive deposit within Orogen's area of interest (
AOI
), known
as Merlin, with an inferred resource of 12.10 million ounces of gold¹. Given the similar geology and
regional setting, the Celts Project represents a significant addition to Eminent's exploration portfolio.
The Celts Project, encompassing 67 unpatented claims over 560 hectares, is in the prolific Walker Lane
in southwest Nevada, approximately thirteen kilometers northeast of the historic town of Goldfields.
Orogen has identified a substantial steam cap of approximately 800 square meters at the Celts Project,
featuring silica and advanced argillic alteration-characteristics it shares with Silicon. This alteration is
situated within a rhyolite dome complex, which is of the same age as rhyolite samples from Silicon
5
and
intrudes through a thick basalt unit covering much of the property. High-grade gold veins historically
mined at the periphery of the property, with grab samples up to 33 grams per tonne (g/t) Au, highlight the
potential target zones beneath the rhyolite dome and basalt, which Orogen considers a potential
aquiclude (Figure 3).
Similar to Silicon, the steam cap at the Celts Project is devoid of gold and other trace elements, as the
alteration occurred above the water table. The low-sulfidation gold deposits that often underlie these
steam caps form in boiling zones below the water table and require drilling for confirmation. The
evidence for such zones at the Celts Project includes the peripheral veins mentioned earlier. Minimal
drilling has occurred near these veins, and none beneath the steam cap and basalt outcroppings. To
explore these promising targets, Eminent plans a comprehensive surface exploration program at the
Celts Project, leveraging geophysical and geochemical techniques proven effective at Silicon and
similar deposits.
The area around the Celts Project claims has also seen staking activity from Barrick, one of the world's
largest gold producers.
All scientific and technical information in this news release has been prepared by, or approved by
Michael Dufresne, P.Geo. Mr. Dufresne is an independent qualified person for the purposes of National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Fig1. Celts Project Location Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/242990_93ffc5b214d458d5_002full.jpg
Fig 2. Induced Polarization (IP lines) showing geology, alteration, and veins.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/242990_93ffc5b214d458d5_003full.jpg
Fig 3A. Google Earth image showing dome and steam cap at Celts, Fig. 3B Geology, Alteration and
Property Map of the Celts property showing the section trace of Fig. 3C. Fig 3C. Schematic cross-
section of the Celts property showing mineralization model below the rhyolite dome and basalt.
Except
for the drillholes at the Gold Button shaft, there has been no drillhholes to test the model.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1937/242990_93ffc5b214d458d5_004full.jpg
1
.
http://zonge.com/geophysical-methods/electrical-em/induced-polarization/
2
.
AngloGold Ashanti. (2024). Technical Report Summary, Merlin deposit, Expanded Silicon
project, An Initial Assessment Report, p.48 of 129 pages.
3
.
Includes 3.4Moz Au of indicated resources at Silicon, 0.8Moz Au at Silicon, and 9.05 Moz Au at
Merlin.
AngloGold Ashanti. (2024). Technical Report Summary, Merlin deposit, Expanded
Silicon project, An Initial Assessment Report, 129 pages.
4
.
John, D. A., & Henry, C. D. (2020). Magmatic-tectonic settings of Cenozoic epithermal gold-
silver deposits of the Great Basin, western United States. In Geological Society of Nevada 2020
Symposium Volume.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul Sun
CEO & Director
For further information, please contact:
Eminent Gold Corp.
Phone: +1 604-505-7751
Email:
Website:
www.eminentgoldcorp.com
Twitter:
@eminent_gold
LinkedIn:
www.linkedin.com/company/eminent-gold-corp/
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, 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.
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https://www.newsfilecorp.com/release/242990