Eminent Geophysics Confirms Target Structures at Round Mountain analogue within its Spanish Moon District
Eminent Geophysics Confirms Target
Structures at Round Mountain analogue within
its Spanish Moon District
VANCOUVER, BC
,
Jan. 25, 2023
/CNW/ -
Eminent Gold Corp.
(TSXV: EMNT) (OTCQB: EMGDF)
(the "
Company
" or "
Eminent
") is pleased to announce that it has completed a geophysics survey at
its Meadow Canyon target (Fig. 1 and Fig. 2). Results identify a conductivity anomaly that occurs
coincident at the intersection of inferred feeder faults at a caldera margin, which is analogous to
mineralization at the 23 Moz Round Mountain mine
1,2
, 13 km to the west of Meadow Canyon. Our
ongoing Plan of Operations will prioritize the exciting targets confirmed by this survey.
Paul Sun
, President and CEO of the Company commented:
"The geophysics results at Meadow Canyon confirmed our technical team's thesis of a strong
conductivity target at the structural intersection of the inferred feeder faults that our 2021 pathfinder
soil geochemistry vectored toward. This evidence strengthens our resolve to push forward with the
permitting process and continue our collaboration with the USFS and stakeholders to permit drilling
at Meadow Canyon as we are another step closer to determining if we have a system analogous to
the 23 Moz Round Mountain mine."
The Controlled-Source Audio-Frequency Magnetotellurics (CSAMT) yielded 3D data of the
subsurface across the entire 5.6 square kilometer Meadow Canyon area.
Multiple geophysical anomalies were identified that spatially correlate with previously identified
structural targets (Figures 3, 4, and 5).
Three clear targets exist:
i
.
A strong conductivity anomaly at the intersection of the Meadow Canyon and relay fault
ii
.
A conductivity anomaly associated with an overlying resistivity anomaly that are both
coincident with the Meadow Canyon fault.
iii
.
A resistivity anomaly along the Jefferson Canyon caldera margin
All three targets can be tested from proposed roads/pads on the Plan of Operations submitted
to the USFS.
The USFS is scheduled to officially respond to the Plan of Operations in Q1/23.
Dan McCoy
, Chief Geologist and Director commented:
"The potential of Meadow Canyon is a unique large scale opportunity in that it has never been
explored while much of
Nevada
has seen so much exploration and delivered some of the world's
biggest gold mines. The target has strengthened with each geologic test we completed and all
surface indicators support the idea that an obscured mineral system could be present. Our
geophysics now gives us clear subsurface anomalies that correspond to our previous structural
targets. The remaining step is to complete the permitting process and drill test the targets."
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 Gold Corp. and is a qualified
person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral
Project.
1
.
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.
2
.
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). (CNW
Group/Eminent Gold Corp.)
Figure 2. Meadow Canyon simplified geologic map with the geophysical survey line locations,
notable faults (blue), and potential drill targets (red). (CNW Group/Eminent Gold Corp.)
Figure 3. Cross-section view to the south of CSAMT line 7 showing modeled faults (as planes),
stratigraphic contacts, proposed drill location and highest priority target. The original Meadow
Canyon conceptual target was the intersection of the Meadow Creek fault and the relay fault. The
strongest conductivity anomaly (red polygon) occurs at this structural intersection and is interpreted
to reflect argillic alteration of rhyolite. (CNW Group/Eminent Gold Corp.)
Figure 4. Cross-section view south of CSAMT line 6 showing faults, contacts, proposed pad
locations and the second highest priority target. The Meadow Canyon fault is one of the major
inferred feeder faults and potential sources for the soil geochemistry anomaly identified in the Flower
area. The conductivity anomaly extending across the fault is interpreted to reflect argillic alteration of
rhyolite with an overlying silicified body. (CNW Group/Eminent Gold Corp.)
Figure 5. Cross-section view south of CSAMT line 8 that is coincident with the caldera margin,
showing faults, stratigraphic contacts, proposed drilling location and the third priority target. All
known gold/silver deposits associated with the Jefferson Canyon caldera appear associated with
this fault and occur in the immediate proximity on either the hanging or footwall. Resistivity anomaly
is inferred to represent silicification and potential veining along the caldera margin structure. (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.
SOURCE
Eminent Gold Corp.
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For further information:
Eminent Gold Corp., visit www.eminentgoldcorp.com, email Investor
Relations: [email protected], or call 312-539-0843.
CO: Eminent Gold Corp.
CNW 07:30e 25-JAN-23