Drilling Progress At The Hot Springs Range Project

VANCOUVER - Eminent Gold Corp. reported on drilling progress at the Hot Springs Range Project in Nevada, along with key 2024 achievements marking a year of strategic advancements and substantial progress.

Eminent has completed the first core hole of the maiden drill program at the Otis target within the Hot Springs Range Project (HSRP) to an approximate depth of 500 meters. The drilling objective is to test the thesis that HSRP is a direct analogue to the prolific Getchell Trend (~50-million-ounce gold endowment1) 15 km across the Eden Valley in northcentral Nevada.

Eminent is testing the hypothesis that the Eden Valley fault is an extension of the Getchell fault, which intersects the nearby Turquoise Ridge deposit, where 7.4 million ounces of gold have been produced at an average gold grade of 16.9 grams per tonne (g/t). The host rock being tested at HSRP is the Home Ranch Terrane, consisting of similar but slightly older rocks than those at Turquoise Ridge, which consist of a strongly deformed sequence of basalt and andesite volcanics intercalated with strongly deformed limestone. Phase 1 specifically targets the intersection of the steeply dipping NE-oriented feeder faults near their convergence with both thrust faults and the Eden Valley fault within the Home Ranch Terrane.

Visual inspection of the drill core has revealed extensive alteration in the volcanic-dominated portion of the Home Ranch Terrane. The alteration consists of strong hematite, clay gouge, and silicification in the Home Ranch Terrane volcanic host rocks and adjoining deformed limestone. Most of the strong hematite alteration and clay gouge occurs in faulted volcanic rocks, whereas the dominant alteration in the limestone is silicification. Observations indicate that the first hole was parallel to one of the NE feeder faults, as indicated in Eminent's Controlled Source Audio Frequency Magnetotellurics (CSAMT) model, beneath a late Tertiary post-mineral basalt and a less deformed Permian sandstone. Assays from the first hole are pending and expected in January. The information obtained from this core provides a clear path for the second drillhole, which will target the intersection of NE faults with the NW Eden Valley fault as well as the thrust fault bounding the lower contact of the Home Ranch Terrane.

Dan McCoy, Chief Geologist and Director, said, "The Hot Spring Range Project has never been drilled previously and represents a great opportunity to make a world-class discovery in Nevada due to its proximity to the 50 million-ounce Getchell Trend, similar host rocks, comparable geochemistry, and similar structural architecture as revealed by CSAMT geophysics and geologic mapping. We are very encouraged by the amount and intensity of alteration noted in the first drillhole and look forward to starting our second hole in early to mid-January."