Eminent Gold Corp. (TSXV:EMNT) has released an update on its maiden drilling program at the Hot Springs Range Project (HSRP) in Nevada. This development is a milestone in the Company’s efforts to explore a potential analogue to Nevada’s prolific Getchell Trend. The announcement also highlights key 2024 achievements and outlines the Company’s strategic plans for 2025.

Paul Sun, President and CEO of the Company commented in a press release: “This is an exciting time for the Company and our shareholders as we await the initial results of the first hole at Hot Springs Range. The target is significant; success could range from confirming structures to finding trace gold or significant gold intercepts. Although we did not cross the main structure, which will be drilled in our next hole, we did intersect key faults feeding off the structure and observed great alteration and the presence of fluids in the rock. We are preparing for a very active 2025, with plans to finance and drill the other two projects in the Company’s portfolio. We are also excited to start expanding our visibility to investors through our partnership with Spark Newswire.”

Drilling Progress at Hot Springs Range Project

Eminent completed the first core drill hole at the Otis target within the HSRP, reaching a depth of approximately 500 meters. The drilling aims to test whether the HSRP mirrors the Getchell Trend, a gold-rich region with an estimated 50-million-ounce gold endowment, located just 15 kilometers across the Eden Valley. The hypothesis posits that the Eden Valley fault could be an extension of the Getchell fault, which intersects the Turquoise Ridge deposit, known for its high-grade gold production averaging 16.9 grams per tonne.

The drill targets are within the Home Ranch Terrane, a geologic formation with basalt and andesite volcanics interspersed with limestone, which are similar but slightly older than the rocks at Turquoise Ridge. The focus of Phase 1 is on intersections of NE-oriented feeder faults with thrust faults and the Eden Valley fault.

Visual inspection of the core has revealed significant alteration within the volcanic rocks and adjoining limestone, with notable hematite, clay gouge, and silicification. These findings align with the Company’s Controlled Source Audio Frequency Magnetotellurics (CSAMT) model. Assay results from the first drill hole are expected in January, with plans to proceed to a second hole targeting intersections of NE faults with the NW Eden Valley fault.

Milestones Achieved in 2024

The Company aims to continue its exploration efforts by drilling at all three key projects—HSRP, Gilbert South, and Celts—pending additional financing. These efforts are in line Eminent’s commitment to leveraging new exploration concepts and maiden drill programs in Nevada.

Eminent also announced it has entered into a marketing consulting agreement with Spark Newswire Inc., a Vancouver-based advisory firm specializing in investor relations and promotional activities. The agreement includes a US$100,000 monthly budget during the initial term, which begins in January 2024, with an option to reduce the monthly budget to US$50,000 for maintenance services after the initial term. The engagement aims to boost investor awareness and engagement. The agreement is subject to approval by the TSX Venture Exchange.

Additionally, Eminent has granted 1,350,000 incentive stock options to directors, officers, and consultants. These options vest in thirds every six months, are exercisable at $0.45, and expire in five years.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.