Eminent Doubles Land Position at its Spanish Moon District
Eminent Doubles Land Position at its Spanish
Moon District
VANCOUVER, BC
,
Jan. 20, 2022
/CNW/ -
Eminent Gold Corp.
(TSXV: EMNT) (OTCQB: EMGDF)
(the "
Company
" or "
Eminent
") is excited to announce positive results of its ongoing work as well as
the doubling of its land position at its Spanish Moon District project ("Spanish Moon"). Spanish Moon
is located approximately 13 km SE of the active Round Mountain Mine with over 20 million ounces of
gold produced (Patterson, 2020;
Kinross
, 2021) (Figure 1 & 2). Follow up sampling of the Antone
Canyon Gold Target discovered multiple outcrops containing up to 5 g/t gold. The target is 2 km
long, adjacent to our Barcelona Target to the southwest and remains open to the northeast (Figure
3).
The team staked an additional 1,060 hectares based on a developing target, called Meadow
Canyon, that shares similar geologic characteristic to
Round Mountain
and other epithermal
gold/silver systems in the region. Similar geologic features include, a 1km long arsenic anomaly
>1,000ppm in the USGS geochemistry data, a structural setting of major fault linkages and proximity
to calderas and intrusions. Additionally, Eminent's 683 sample soil survey identified highly elevated
pathfinder elements of arsenic (As), antimony (Sb), mercury (Hg) and thallium (TI) in the NE portion
of the property adjacent to the new target (see
Sep 22, 2021
News Release).
Paul Sun
, President and CEO of the Company commented:
"The opportunity at Spanish Moon is significant and developing very well with multiple targets with
some having many analogous features to
Round Mountain
and its location across the same intrusion
only 13km away. Eminent is the first company to consolidate the claims that make up the Spanish
Moon trend and applying modern targeting methods to the area.
We are very excited about the pending results from the preliminary Meadow Canyon soils survey
and future geophysics program as we get ready to commence our inaugural drill programs across
our 4 projects in the near term and throughout the year."
Summary:
Antone Canyon Target
The Antone Canyon Target is a gold and silver occurrence previously defined by past drilling which
includes intercepts up to
13.5 m
@ 7.6 g/t Au that have never been followed up on. Such intercepts
occur within limestone and shale stratigraphy that is continuous across the project area. Phase 1 soil
and rock sampling identified anomalous geochemistry extending both eastward and westward from
the known Antone Canyon mineralization, increasing the target strike length to 2 km. Follow up
mapping and sampling outside known mineralization identified multiple outcrops and prospects where
the rock characteristics are analogous to Antone Canyon mineralization, with features of both low
sulfidation epithermal (e.g., banded quartz veins) and sediment-hosted (e.g., sulfides in sedimentary
rocks) gold and silver mineralization. The greatest density of mineralized samples and highest gold
concentrations occur where the north-south oriented Hooper fault intersects the
Barcelona
thrust
fault. This area of intersecting structures is modestly drilled and represents a primary target area for
the Company.
Meadow Canyon Target
The Meadow Canyon conceptual target was developed by combining components of regional
structural interpretations, regional USGS geochemistry (Shawe, 2003), and cohesive arsenic-
antimony-mercury-thallium anomaly from Eminent's phase 1 rock and soil geochemistry programs
(
Sept 22, 2021
NR). Most of the significant gold and silver mineral occurrences in the region are
epithermal in nature and are associated with Tertiary-age volcano-magmatic activity and similar
geochemical signatures. Additionally, the mineralization occurs where the following features are
present: 1) within a >1,000 ppm As anomaly, 2) on or immediately adjacent to an Oligocene-age
basin-bounding fault, 3) adjacent to a caldera.
The largest gold and silver system in the region is the world-class
Round Mountain
deposit (20 Moz
of gold produced), which occurs on subsidiary structures linking the main caldera bounding faults. A
similar structural setting exists at the Meadow Canyon Target where the Jefferson Canyon fault links
to the Meadow Canyon fault. Multiple known epithermal vein systems occur along the strike of the
Jefferson Canyon fault (i.e.,
Kinross'
Gold Hill deposit and Gold79's Jefferson Canyon deposit)
before the fault is obscured by post mineral cover where it links to the Meadow Canyon fault.
Eminent's 2021 soil sampling identified a large body of strongly correlated pathfinder elements
indicative of a low sulfidation epithermal system (As, Hg, Sb and Tl) that coincides with intense
silicification of basement rocks. The anomalous pathfinder geochemistry and alteration is open to the
north where it becomes obscured by thin veneer of younger volcanic rocks. This region north of the
Flower Target area was added to the Spanish Moon land package.
Dan McCoy
, Chief Geologist and Director commented:
"The stream of results from Spanish Moon continue to indicate the project's exciting potential to host
both silver and gold mineralization via its numerous mineral systems. Even more, the phase 1 work
completed in 2021 has yielded a brand-new conceptual target that mimics the geologic framework of
the nearby
Round Mountain
deposit. We are anxious to build upon these developments with
continued progress in the coming field season."
Next Steps
The Company is collaborating with an industry leading permitting consultant agency to rapidly
advance the project's Plan of Operations permit with the US Forest Service. Permitting steps are
being conducted along with planning a project wide geophysics program for the 2022 field season.
The geophysics program will be designed to image the multiple types of mineralization in all three
target areas of Spanish Moon; 1) intrusion related silver and gold at the Barcelona-Van Ness Target,
2) epithermal/sediment-hosted gold and silver at the Antone Canyon Target, 3) epithermal gold and
silver at the Flower-Meadow Canyon Targets. Geophysics will enable our technical team to refine
drill targets to be tested in the Fall of 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. Some
of the information herein is provided by 1) historical reports that describe mining activities, geology
and potential, published by the Nevada Bureau of Mines as well as historical field notes and
reports recorded in the Nye County records, 2) publicly available reports from the United States
Geologic Survey (USGS), 3) unpublished summary reports and news releases from Bullion River
Resources describing exploration performed between 2003 and 2004. It should be noted that the
Company believes that all of these reports are reliable; however, the Company's qualified person
has not conducted verification procedures and therefore has not confirmed them.
Figure 1. Location map showing the Spanish Moon District is adjacent to the Walker Lane Trend,
Nevada. (CNW Group/Eminent Gold Corp.)
Figure 2. Digital geologic map of Nevada from the Nevada Bureau of Mines and Geology showing
the regional geology to include major faults, gold and silver mineral occurrences and arsenic
anomalies (Shaw, 2003). Round Mountain and Gold Hill gold endowment from Patterson (2020) and
Kinross (2021), Jefferson Canyon inferred gold resource from Gold79 (2022), and Manhattan
District gold endowment from Western Mining (2022). (CNW Group/Eminent Gold Corp.)
Figure 3. Spanish Moon District geologic map showing rock chip, correlated pathfinder geochemical
anomaly (orange polygon), and pending soil samples (grey polygon). (CNW Group/Eminent Gold
Corp.)
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 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.
References
Gold79 (2021). "Jefferson-Canyon" Retrieved
January 16, 2022
from
https://gold79mines.com/jefferson-canyon/
Kinross
(2021). "
Round Mountain Nevada
, USA." Retrieved
September 21, 2021
, from
https://www.kinross.com/operations/#americas-roundmountain
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.
Western Mining (2022). "Manhattan". Retrieved
January 16, 2022
from
https://westernmininghistory.com/towns/nevada/manhattan/
Shawe, Daniel R., et al.
Geochemistry, geochronology, mineralogy, and geology suggest sources
of and controls on mineral systems in the southern Toquima Range,
Nye County, Nevada
; with
geochemistry maps of gold, silver, mercury, arsenic, antimony, zinc, copper, lead, molybdenum,
bismuth, iron, titanium, vanadium, cobalt, beryllium, boron, fluorine, and sulfur; and with a section
on lead associations, mineralogy and paragenesis, and isotopes
. No. 2327-C. US Geological
Survey, 2003.
SOURCE
Eminent Gold Corp.
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For further information:
visit www.eminentgoldcorp.com, email: [email protected], or call
604-288-8956
CO: Eminent Gold Corp.
CNW 07:30e 20-JAN-22