Eminent Triples Strike Length of the Known Precious Metal System at the Spanish Moon District; samples up to 8520 g/t Ag and 10 g/t Au
EMINENT GOLD CORP.
FOR IMMEDIATE RELEASE
Eminent Triples Strike Length of the Known Precious Metal System at the Spanish Moon
District; samples up to 8520 g/t Ag and 10 g/t Au
Vancouver, Canada, September 22, 2021 – Eminent Gold Corp. (TSX-V: EMNT) (OTCQB:
EMGDF) (the "Company" or “Eminent”) is pleased to announce positive results from its first
phase surface exploration program at its Spanish Moon District project (“Spanish Moon”),
located approximately 13 km SE of the active Round Mountain Mine with over 15 million
ounces of gold produced1,2 (Figure 1, 2). For the first time in the history of this metal rich
project, the Company has completed an extensive rock and soil survey across the entire
property with results including: 1) a 1 g/t silver (Ag) (+/- gold (Au)) -in-soil anomaly extending
from west to east across the property, and 2) results from bedrock, small prospect pits, and the
millsite returned values as high as 8520 g/t Ag and 10 g/t Au (Figure 3). Results indicate the
existence of three distinct domains of zoned, precious metal mineralization at the Barcelona-
Van Ness, Antone Canyon, and Flower target areas. Based on these results the Company plans
to conduct a geophysical survey across the entire district as well as generate specific drill
targets in the Antone Canyon target, where historic drilling occurred.
Paul Sun, President and CEO of the Company commented:
"The results of the geochemical surveying program have validated our teams’ original model
that mineral zoning made the entire project prospective for precious metals and exceeded even
our own expectations. Results show that precious metals occur in soil and rocks over the entire
length of the property even in areas only previously mined and prospected for mercury and
antimony."
Summary of Targets:
Results from the Phase I sampling and mapping program suggest that there are three distinct
and strongly mineralized domains at Spanish Moon; the western Barcelona-Van Ness, the
central Antone Canyon and the eastern Flower. The western domain appears to be an intrusion
related silver and gold system forming the Barcelona-Van Ness target. The central domain may
be a low sulfidation and sediment-hosted gold and silver system forming the Antone Canyon
target. The newly identified eastern domain could be a low sulfidation epithermal gold system
forming the Flower target. These three domains combined make the entire Spanish Moon
District prospective for precious metals. At each of these targets, the strike lengths of known or
newly discovered precious metal occurrences have been extended by >1 km. The technical
team established very prospective Ag grades (<8520 g/t) in the Van Ness target and continued
to find high grade Ag (<1590 g/t) and Au (<10 g/t) at the surface in the Barcelona mine and
Antone Canyon target areas. Additionally, the Company identified the presence of Au
mineralization in the Flower target, a mercury (Hg) and antimony (Sb) prospect with no historic
sampling for Ag or Au.
Results from an extensive soil survey suggest that silver is anomalous (> 1 ppm Ag) across the
entire length of the property where typical Ag background values are 0.2 to 0.3 ppm. This silver
anomaly occurs within a prospective limestone unit that is capped by a regional thrust fault .
The same prospective limestone is the primary host rock to the neighboring historic silver-gold
districts of Belmont (>10M oz Ag produced 1868-1887) and Manhattan (>135K oz Au and >50k
oz Ag produced 1906-1921).
Barcelona – Van Ness Target
At the historic Barcelona mine area, soil and rock sampling results extended the area of
identified silver mineralization to over >1 km west to the Van Ness area, creating a high-grade
silver domain in the western third of Spanish Moon (Figure 4). The highest Ag-in-rock sample,
came from a small dump at the Van Ness mercury mine, a location not previously associated
with precious metals. This sample also contains 5.7% Cu, 3.6% lead (Pb), and 2.4% zinc (Zn). This
discovery indicates that high-grade silver mineralization could extend over 1 km from the
historic Barcelona mine to the Van Ness workings. Additional samples from small mine dumps
and prospect pits at Barcelona delivered assays up to 1590 and 1310 g/t Ag. Rocks from the
mouth of a collapsed drainage tunnel and a former mill site at Barcelona delivered values of
884, 688, and 230 g/t Ag. Outcrops and decline rock samples in and surrounding the historic
mine portals delivered silver values up to 235 g/t Ag over a 0.3 m width, 177 g/t over a 2.7 m
width and 141 g/t Ag over a 1.2 m width.
Antone Canyon Target
Phase I results have tripled the strike length of Au mineralization identified at Antone Canyon;
extending the occurrence by 1 km to the west of previously known mineralization (Figure 5). In
the eastern portion of Antone Canyon previous operators drilled holes with intercepts up to
13.5 m @ 7.6 g/t Au. Rock samples from small prospect pits and outcrops delivered assays up to
10.2, 9.9, and 8.0 g/t Au. The newly identified western two thirds of the Antone Canyon gold
anomaly has never before been drill tested and mapping suggests mineralization is focused
immediately beneath a thrust fault that is interpreted as a major control on mineralization. The
next step at Antone Canyon includes a geophysical survey to define new drill targets. In
addition, relogging legacy core from Antone Canyon will offer insight as to whether
mineralization has a structural or stratigraphic control.
Flower Target
At the eastern end of the district, results of the soil survey in the Flower domain identified two
large arsenic (+Sb, Thallium, Hg, Lanthanum, +/-Pb) anomalies covering approximately a 1 km2 in
the west and ~0.5 km2 in the east. These soil anomalies are accompanied by Au-in-rock samples
of up to 1.2 g/t Au (Figure 6). These rock samples are believed to be the first gold bearing
samples in the eastern Flower target area. Reconnaissance mapping suggests the anomalous
geochemistry may correspond with steeply dipping normal faults associated with a regional
fault that forms the eastern margin of an adjacent caldera. The next steps at the Flower Target
will be to refine the structural framework of this apparent volcanic associated hydrothermal
system that may be younger and overprinting than the older intrusion related mineralization
immediately to the west at Spanish Moon.
Dan McCoy, Chief Geologist and Director commented:
“The results suggest that the Spanish Moon hydrothermal system has delivered both high
grades and significant strike length. What were previously isolated occurrences not known for
precious metals are proving to be part of a regional scale silver-gold district with three distinct
domains each with exceptional potential. We will continue to refine the picture through
detailed mapping and geophysics. We expect to have numerous drill ready targets selected for
the 2022 drilling season.”
Description of Program
The Company’s technical team soil sampled the Property at 100-meter centers except for the
Barcelona area where it sampled at 50 meter centers and the Antone Canyon area, where the
Company had already obtained soil results from previous operators. Rather than contract the
sampling program out, the Company’s technical team performed the soil sampling itself to
better capture the geology (lithologic notes were obtained at each sample site) as well as the
alteration and mineralization that occurs outside of the known mine and prospect areas.
Numerous historic prospect pits that were not on previous maps were discovered during this
process. The Company’s technical team also conducted a 2-week reconnaissance mapping
program consisting of field checking existing 1:24,000 scale mapping and rock sampling:
numerous channel, chip, and dump samples were taken at existing outcrops near the historic
mine workings for which the Company had no or extremely limited data, especially in the
Barcelona area. Please see the Company’s website for further detail.
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
Royal Standard Minerals (annual reports and news releases) published on SEDAR between the
years of 1997 and 2000 and 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
Figure 2. Regional Geology Map from ArcMap Online data sources showing the Spanish Moon
District that encompasses Spanish Moon, Barcelona, and numerous historic mines. Round
Mountain gold production, proven and probable values from Patterson (2020) 1 and Kinross
(2021)2.
Figure 3. Project geologic map showing Ag-in-soil (orange), Au-in-soil (red), arsenic (purple)
anomalies as respective polygons. Anomalous Ag (stars) and Au (diamonds) assays from rock
chips shown on the map are sourced from one of: mill dump, mine tailings, prospect pit, or
outcrop. Subsequent figures display more detailed sample information for each site.
Figure 4. Small scale map of the Van Ness and Barcelona target areas forming the western
domain of Spanish Moon. The map shows high grade Ag in rock chip samples along with their
respective source location. A Ag-in-soil anomaly greater than 1 g/t is highlighted by the orange
polygon trending from SW to NE, and a Au-in-soil anomaly greater than 0.1 g/t is represented
by a red polygon. Newly added claims along the southern boundary of the Van Ness target are
shown as a light blue polygon.