VANCOUVER, BC, Feb. 24, 2021 /CNW/ - Eminent Gold
Corp. (TSXV: EMNT) (the "Company") is pleased to
announce that Phase 1 geochemical and mapping results of its Hot
Spring Range Project (HSRP) located 15 km northwest of the Getchell
Trend (42.5Moz Au endowment), demonstrates proof of concept that a
Getchell Trend analogous Carlin-type gold system exists on the Property
(Figure 1). The structural framework and host rock lithologies at
HSRP have never before been explored (Figure 2). Now that the
Company has identified targets associated with geochemical
anomalies the next step is to confirm targets through ground
geophysical surveys followed by drill testing.
Paul Sun, President and CEO of
the Company commented:
"The results of our geochemical data confirms the validity of
our original concept that our project represents several features
analogous to the world renowned Getchell Trend. This concept is
bolstered by the strength of the geochemical anomalies and reports
from our technical team about Carlin-type mineralization in this area that
has never been tested before.
We look forward to completing geophysics on the Eden and Otis
targets which will prepare us for HSRP's first drill program, once
complete."
The Hot Springs Range Project
Land Position
HSRP is located in Humboldt County Nevada, approximately 50
kilometers (km) northeast of the town of Winnemucca, NV and 20 km northwest of
Nevada Gold Mine's Turquoise Ridge
mine complex, which together with Twin Creeks forms the Getchell
Trend (42.5M oz in gold
endowment1). The HSRP is comprised of over 3,200
hectares of highly prospective ground that has seen no exploration
activity prior to being acquired by Eminent Gold in 2020.
Phase 1 Field Work
The Company took 1,312 soil samples
at 125-meter centers and 157 rock samples at the Otis target, and
79 pediment soil samples at the Eden target to test the conceptual
model of a Carlin-type
hydrothermal gold system analogous to the Getchell Trend occurring
in the Hot Springs Range. Additionally, geologic mapping by the
Company's experienced technical team confirmed the presence of
multiple key characteristics of a Carlin-type system a) a prospective
Carlin-type host rock (i.e.,
limestone & andesite package similar to the Comus formation),
b) a remarkably similar structural architecture between HSRP and
the Getchell Trend of steeply dipping feeder faults and shallowly
dipping thrust faults, c) alteration characteristics (i.e.,
decalcification of carbonate rocks and sulfidation of iron-bearing
igneous rocks), and d) anomalous gold and pathfinder geochemistry
occurring in predicted places spatially associated with feeder
faults that intersect favourable host rocks and thrust faults. The
cumulative Phase 1 evidence validates a proof of concept that a
Carlin-type hydrothermal gold
system may exist in the Hot Springs Range that has never before
been recognized or explored.
Otis Target Results to Date
At the Otis target,
the anomalous geochemistry discovered by the Company occurs
adjacent to the intersection of the inferred feeder faults with the
prospective host rocks and thrust fault (Table 1 & 2, Figure
3). The prospective host rocks and thrust dip eastward where they
are obscured by a thin veneer of younger, post mineral sediments
and basalt flows. The Otis target occurs where multiple
orientations of inferred feeder faults intersect the thrust fault
and prospective host rocks at approximately 300 meters depth.
Controlled-Source Audio-Frequency Magnetotellurics (CSAMT), a
ground geophysical survey, will confirm the presence and depth of
the conceptual Otis target beneath the post mineral cover.
Eden Target Results to Date
At the Eden target
the anomalous geochemistry discovered by the Company occurs in the
immediate proximity to scarps of modern normal faults (Table 3,
Figure 4). The modern scarps cut a thick package of post mineral
cover. Background soil samples of this cover yield <1.5
ppb Au. Gravity data indicate that these modern faults are long
lived and are thus potentially reactivated feeder faults for a
Carlin-type hydrothermal gold
system. Recent earthquakes and rupture of modern faults has caused
the surface expulsion of deeply sourced ground water along the
sampled faults. The anomalous geochemical results indicate the
expelled ground water has scavenged elements from a buried
occurrence of gold mineralization. Further, the elemental makeup of
the geochemical anomaly is indicative of a Carlin-type system.
Getting Ready to Drill: Proposed CSAMT program
Given
both the Otis and Eden targets are largely obscured by post-mineral
basalt and pediment, the Company has contracted a geophysical
company to perform a CSAMT program. The program is designed
to identify where the deep-seated faults intersect the low angle
thrust and prospective host rocks. The Company expects to
have results and interpretations from this program by late Spring,
at which time it will design a drill program.
All scientific and technical information in this news release
has been prepared by, or approved by Michael Dufresne, M.Sc., P. Geo., President and
Principal of APEX Geoscience Ltd. Mr. Dufresne is a qualified
person for the purposes of National Instrument 43-101 - Standards
of Disclosure for Mineral Projects. Information regarding
production at adjacent properties has been taken from publicly
available sources believed to be reliable, but the qualified person
has not done any verification work and cannot confirm the accuracy
of such reports. Production or mineralization at such
adjacent properties may not be indicative of the prospectivity for
mineralization at the HSRP, and readers should not place undue
reliance on such information.
|
Sample
ID
|
Au
(g/t)
|
Ag
(g/t)
|
As
ppm
|
Hg
ppm
|
Sb
ppm
|
Se
ppm
|
Te
ppm
|
Tl
ppm
|
W
ppm
|
303524
|
0.706
|
0.028
|
457
|
0.453
|
19.05
|
0.272
|
0.007
|
0.562
|
4.56
|
303526
|
0.684
|
0.025
|
522
|
1.065
|
8.93
|
0.126
|
0.005
|
0.932
|
5.88
|
19PP03
|
0.405
|
0.014
|
764
|
4.46
|
31.5
|
0.757
|
0.007
|
1.125
|
3.26
|
303421
|
0.39
|
0.1
|
826
|
0.226
|
66
|
0.084
|
0.005
|
0.257
|
1.195
|
303419
|
0.355
|
0.063
|
1400
|
0.304
|
21.8
|
0.4
|
0.007
|
0.273
|
0.985
|
303533
|
0.25
|
1.01
|
263
|
2.06
|
19.55
|
0.767
|
0.024
|
0.389
|
5
|
303420
|
0.202
|
0.18
|
422
|
0.986
|
21.9
|
0.151
|
0.006
|
0.13
|
1.11
|
303438
|
0.138
|
0.003
|
571
|
0.013
|
8.19
|
0.22
|
0.005
|
0.684
|
2.75
|
19PP06
|
0.128
|
0.008
|
17
|
0.092
|
3.55
|
0.067
|
0.005
|
0.192
|
1.38
|
Table 1. Rock sample
results from the Hot Springs Range Project – Otis Target area.
Approximately 1 kg of material was collected for analysis and sent
to the ALS lab in Elko, NV for preparation and then to Sparks, NV
for analysis. All samples are assayed using 30g nominal weight fire
assay with ICP finish (Au-ICP21) and multi-element four acid digest
ICP-AES/ICP-MS method (ME-MS61). QA/QC programs for 2020 rock grab
samples using standards, blanks and duplicates indicate good
accuracy and precision in a large majority of standards assayed.
Grab samples are selective in nature and cannot be consider as
representative of the underlying mineralization.
|
|
Sample
ID
|
Au
ppb
|
Ag
ppb
|
As
ppb
|
Hg
ppb
|
Sb ppb
|
Se
ppb
|
Tl
ppb
|
W
ppb
|
342552
|
465
|
66.4
|
7.5
|
1
|
0.6
|
4
|
0.25
|
6.2
|
342816
|
165
|
42.1
|
42.7
|
1.9
|
0.8
|
5
|
0.34
|
5.3
|
342572
|
119.5
|
81.3
|
38
|
0.8
|
1.1
|
4
|
0.28
|
4.7
|
342705
|
73.5
|
45
|
8.8
|
0.6
|
0.8
|
7
|
0.39
|
4.5
|
342817
|
67.2
|
49.5
|
11.6
|
0.4
|
0.5
|
3
|
0.43
|
4.3
|
342818
|
38.3
|
42.2
|
10.3
|
0.7
|
0.6
|
3
|
0.63
|
4.8
|
342667
|
36.6
|
108.5
|
11.4
|
0.9
|
0.6
|
12
|
0.42
|
4.8
|
342674
|
32.8
|
71.1
|
18.7
|
1.8
|
3.8
|
2
|
0.19
|
10.6
|
342737
|
30
|
45.1
|
9.6
|
4.7
|
1
|
7
|
0.11
|
8.4
|
Table 2. Soil sample
results from the Hot Springs Range Project – Otis Target area.
Approximately 2 kg of material was collected for analysis and sent
to the ALS lab in Elko, NV for preparation and then to Sparks, NV
for analysis. All samples are assayed using 50g nominal weight
multi-element ionic leach method (ME-MS23). QA/QC programs for 2020
soil samples using standards, blanks, and duplicates indicate good
accuracy and precision in a large majority of standards
assayed.
|
|
Sample
ID
|
Au
ppb
|
Ag
ppb
|
As
ppb
|
Re
ppb
|
Sb
ppb
|
Se
ppb
|
336186
|
7.04
|
157.5
|
11
|
0.02
|
2
|
17
|
336187
|
6.77
|
117.5
|
11
|
0.01
|
8.5
|
10
|
342775
|
6.03
|
59.3
|
19.6
|
0.02
|
8.6
|
16
|
336178
|
4.71
|
83
|
50.8
|
0.02
|
4.1
|
14
|
342793
|
3.27
|
81
|
36
|
0.01
|
3.6
|
10
|
336309
|
3.14
|
131
|
17.1
|
0.01
|
1
|
14
|
342784
|
3.1
|
35.9
|
10.3
|
0.01
|
3.1
|
7
|
336356
|
3.04
|
114
|
6.6
|
0.01
|
0.9
|
8
|
Table 3. Soil sample
results from the Hot Springs Range Project – Eden Target area.
Approximately 2 kg of material was collected for analysis and sent
to the ALS lab in Elko, NV for preparation and then to Sparks, NV
for analysis. All samples are assayed using 50g nominal weight
multi-element ionic leach method (ME-MS23). QA/QC programs for 2020
soil samples using standards, blanks and duplicates indicate good
accuracy and precision in a large majority of standards
assayed.
|
References:
1Muntean, John. 2019.
Carlin-Style Deposits in Nevada:
Exploration Activity and Targeting Criteria. Prospectors &
Developers Association of Canada Meeting 2019; Back to North America: New Opportunities.
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, 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 Hot Springs Range property, the
Company's expectations for the potential of the Hot Springs Range
property, and the Company's plans for drilling on the Hot Springs
Range Project. 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 Hot Springs Range property
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.
SOURCE Eminent Gold Corp.