VANCOUVER, BC, Nov. 22, 2021 /CNW/ - Eminent Gold
Corp. (TSXV: EMNT) (OTCQB: EMGDF) (the "Company" or
"Eminent") is pleased to report recent soil sampling results
which have refined two clear north-south trending soil anomalies of
1.5 kilometers (km) and 1.2 km coinciding with the Bighorn and
Pretty Boy/ East Bounding (EB) fault zones at its Gilbert South
property. Gilbert South is located 30 km west of Tonopah
(Figure 1) within the Walker Lane trend (total gold endowment of
over 80 Moz Au and 700 M oz
Ag1).
The Company's technical team had previously identified
multi-kilometer faults coinciding with rocks containing up to 31
g/t gold that are associated with numerous epithermal quartz veins
that trend north to south across the property. The encouraging gold
in soils results (Figure 2) spread between the Wildhorse and Pretty
Boy fault zones overlie the area of an ammonium anomaly previously
identified (see October 2021 news
release on Gilbert South).
Paul Sun, President and CEO of
the Company commented:
"Results from Gilbert South confirm our technical team's deposit
model and target priorities which demonstrate the strong potential
for the discovery of a robust gold system. The final step prior to
drilling will be the completion of geophysical surveys which are
underway.
We are very excited about the company's high quality large scale
Nevada focused gold portfolio
which has been advanced with drilling anticipated in early 2022."
Significance of Soil Results
Soil results have demonstrated that the 1.5 km wide region in
between the 2.5 km long Bighorn and Pretty Boy/EB faults is
anomalously mineralized with gold in soils containing <0.70 ppm
gold.
Summary of Soil Sampling
Soil samples were taken on a 100-meter by 100-meter isometric
grid across the property except where samples were taken by
previous operators (Figure 2). Following completion of this survey,
the Company's technical team identified mineralization outside and
immediately adjacent to the original land package. This ground,
~150 hectares, was subsequently staked and the 100-meter by
100-meter soil grid extended to cover this new land area. Soil
results from this area are currently pending and are not included
in results discussed here. Following receipt of pending soil
results as well as an interpretation of a geophysical survey
underway, specific drill targets for 2022 will be solidified.
Dan McCoy, Chief Geologist and
Director commented:
"These soil results strongly support preceding lines of evidence
that the Bighorn and Pretty Boy/EB faults are the most prospective
structures to host bonanza grade gold in epithermal veins. Earlier
rock chip results demonstrated 2.5 kilometers of mineralized strike
length along the faults and spectral data demonstrated these
structures to be deeply rooted hydrothermal pathways. We look
forward to refining the geometry of these targets at depth from the
geophysical survey currently in progress and advancing this project
to the drill ready stage in 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.
References
1.
Energyandgold.com. A Junior Mining Management Team That Doesn't
Know How To Lose Is Back With The Next Incredible Opportunity In
Nevada Gold Exploration. 2020 8/24/2020; Available from:
http://energyandgold.com/2020/08/24/a-junior-mining-management-team-that-doesnt-know-how-to-lose-is-back-with-the-next-incredible-opportunity-in-nevada-gold-exploration/.
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 Gilbert South property, the
Company's expectations for the potential of the Gilbert South
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 Gilbert South
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.