Latest news with #PaulSun
The Market Online
07-05-2025
- Business
- The Market Online
Eminent Gold delivers more prospective drilling in Nevada
Eminent Gold (TSXV:EMNT) has completed the third drill core hole on its Hot Springs Range project in Humboldt County, Nevada, an analogous asset to the 50-million-ounce Getchell Trend A preliminary visual assessment indicates geological continuity with previous drilling Eminent Gold is focused on generating shareholder value through exploration in Nevada backed by a leadership team with multiple successes in gold discoveries Eminent Gold stock has added 44.83 per cent year-over-year Eminent Gold (TSXV:EMNT) has completed the third drill core hole on its Hot Springs Range project in Humboldt County, Nevada, an analogous asset to the 50-million-ounce Getchell Trend. The drillhole in question, HSC004, tested gold mineralization in and around the northeast (NE)-trending Otis Fault. HSC002, drilled parallel to the fault only 150 metres away, returned multiple gold zones grading up to 8 grams per ton (g/t), as detailed in news releases on January 16 and February 5, 2025. Visual inspection of HSC004 core shows alteration similar to HSC002, suggesting geological continuity between the drillholes, though assays remain pending, including for drillhole HSC003 testing a northwest-oriented structure. The news follows a $3 million investment in Eminent by major producer Kinross Gold (TSX:K) announced on Monday. Leadership insights 'We are very excited about our ongoing drill program at HSRP, with two holes pending assay results, as we are currently planning our fourth hole,' Paul Sun, Eminent Gold's president and chief executive officer, said in a statement. 'The company is well-financed to continue drilling at HSRP, as well as to drill its inaugural holes at the Celts project.' 'According to Nevada Gold Mines, the NE trending faults at Turquoise Ridge provide the best upside potential for expanding the resource and reserve,' added Dan McCoy, Eminent Gold's chief geologist. 'Hole HSC002 indicates that mineralization associated with the NE trending Otis fault provides us with an analogous geometry. However, hole HSC002 did not cross this structure, whereas hole HSC004 is designed to cross the structure at the same depth as the best gold hits in HSC002. We are pleased with the visual results to date.' About Eminent Gold Eminent Gold is focused on generating shareholder value through exploration in Nevada backed by a leadership team with multiple successes in gold discoveries. Eminent Gold stock (TSXV:EMNT) is up by 3.7 per cent on the news trading at C$0.42 per share as of 12:45 pm ET. The stock has added 44.83 per cent year-over-year. Join the discussion: Find out what everybody's saying about this Nevada gold stock on the Eminent Gold Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
07-05-2025
- Business
- Yahoo
Eminent Provides Drilling Update at Hot Springs Range Project
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (FSE: 7AB) ("Eminent" or the "Company") is pleased to provide an update on its ongoing drill program at the Hot Springs Range Project ("HSRP") in northern Humboldt County, Nevada, an analogue to the prolific 50-million-ounce Getchell Trend1 (see Figures 1-2 for property and target locations). The Company has successfully completed its third drill core hole, HSC004 (following the early termination of HSC001 at a shallow depth) and is now awaiting assay results for both HSC003 and HSC004. Dan McCoy, Chief Geologist and Director commented: "According to Nevada Gold Mines, the NE trending faults at Turquoise Ridge provide the best upside potential for expanding the resource and reserve4. Hole HSC002 indicates that mineralization associated with the NE trending Otis fault provides us with an analogous geometry. However, Hole HSC002 did not cross this structure, whereas Hole HSC004 is designed to cross the structure at the same depth as the best gold hits in HSC002. We are pleased with the visual results to date." Drilling Update Eminent's recently completed hole, HSC004, was designed to test gold mineralization in and around the northeast (NE)-trending Otis Fault (see Figures 3-5 for plan and section views, as well as hole azimuths and dips). Hole HSC002, drilled parallel to this fault, encountered multiple zones with gold intercepts of up to 8 grams per tonne (g/t), which the company released in news releases dated January 15 and February 5, 2025. HSC004 was designed to cross the Otis Fault at a location approximately 150 meters offset from HSC002, at the same depth. While assay results are pending, an initial visual examination of the core indicates alteration features similar to those observed in HSC002. These observations suggest potential continuity of geological characteristics along the Otis Fault corridor; however, confirmation will require further analytical testing. Eminent is also awaiting the complete assay results from Hole HSC003, which tested a northwest oriented structure. Paul Sun, President and CEO of the Company commented: "We are very excited about our ongoing drill program at HSRP, with two holes pending assay results, as we are currently planning our fourth hole. The Company is well-financed to continue drilling at HSRP, as well as to drill its inaugural holes at the Company's Celts project." All scientific and technical information in this news release has been prepared by, or approved by Michael Dufresne, Mr. Dufresne is an independent qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Yahoo
05-05-2025
- Business
- Yahoo
Eminent Closes Private Placement Including $3 Million Strategic Investment by Kinross Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - Eminent Gold Corp. (TSXV: EMNT) (FSE: 7AB) ("Eminent" or the "Company") is pleased to announce that, further to its news releases dated April 7, 2025, the Company has closed its non-brokered private placement (the "Offering") which included participation by Kinross Gold Corp. ("Kinross"), one of North America's largest gold producers. As part of the Offering, the Company issued an aggregate of 10,711,900 units ("Units") at $0.40 per Unit, for gross proceeds of $4,284,760, with Kinross acquiring 7,574,237 Units. Each Unit consists of one common share of the Company (a "Common Share") and one-half common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.70, exercisable for 24 months following the closing of the Offering. Kinross now owns 9.9% of the outstanding shares of the Company and has the right to maintain its 9.9% interest in future financings subject to certain exceptions. Furthermore, Kinross will have a right to increase its ownership percentage to 19.9% of the outstanding shares, calculated on a partially diluted basis, including other rights and obligations as described in the April 7, 2025, news release. The net proceeds from the Offering will primarily support drilling at the Hot Springs Range Project—an analogue to the 50-million-ounce gold Getchell Trend1—as well as at the Celts Project, a direct analogue to AngloGold Ashanti's Silicon deposit in Nevada's prolific Walker Lane Trend. In addition, a portion of the proceeds will be allocated to working capital, accounts payable, and marketing services. Paul Sun, President and CEO of the Company, commented: "Kinross's strategic investment in Eminent is a strong endorsement of our team, our vision, and the exceptional potential of the Hot Springs Range and Celts Projects, which exhibit compelling geological similarities to some of Nevada's most significant gold deposits. This funding allows us to advance drilling with a disciplined approach, ensuring efficient execution of our exploration plans, including the launch of our inaugural drill program at Celts. We are excited to build on this momentum and continue unlocking the untapped potential within our projects." Minvisory Corp. acted as the Company's financial advisor and McMillan LLP acted as the Company's legal advisors in connection with the strategic investment. The Company paid a success fee of $151,484 and 378,711 Warrants to Minvisory Corp. in connection with the strategic investment. Additionally, the Company paid cash fees of $16,510 and issued 27,500 broker warrants (the "Broker Warrant") to registered dealers in relation to the Offering. Each Broker Warrant entitles the holder to subscribe for one Share at $0.70 until May 2, 2027. Furthermore, the Company has entered into an agreement with Scout Drilling LLC ("Scout"), under which Scout will receive 520,163 Units in exchange for US$150,000 for past drilling services rendered by Scout. The Offering is being conducted in reliance upon certain prospectus and private placement exemptions. The securities issued under the Offering will be subject to a hold period in Canada expiring September 3, 2025. The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. ON BEHALF OF THE BOARD OF DIRECTORS Paul SunCEO & Director For further information, please contact: Eminent Gold Corp. Phone: +1 604-505-7751 Email: michael@ Website: Twitter: @eminent_gold LinkedIn: 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, Gilbert South, and Celts. 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 anticipated completion of the private placement and the use of proceeds from the private placement. 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 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. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
Eminent Acquires 100% Ownership of Getchell Trend Analogue, Hot Springs Range Project
Vancouver, British Columbia--(Newsfile Corp. - April 11, 2025) - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (FSE: 7AB) (the "Company" or "Eminent") is pleased to announce that it has exercised its option to acquire 100% ownership of the 168 optioned claims that it does not already own on the Hot Springs Range Project ("HSRP"), located in Humboldt County, Nevada (Figure 1 and 2). This achievement represents a defining step forward in the Company's Nevada-focused gold exploration strategy, with HSRP reflecting strong geological parallels to the prolific 50-million-ounce Getchell Trend1. The Hot Springs Range Project in its entirety is comprised of 419 unpatented lode mining claims, covering approximately 3,500 hectares (Figure 3) and approximately 15km across the Eden Valley. Eminent has fulfilled all of its obligations under the terms of the March 2020 Option Agreement with Milliard Geological Consulting (the "Option Agreement"). Key Terms of the Option Agreement: Five-year Option Term: Eminent had up to five years to fulfill the terms of the agreement to acquire 100% interest in the property. Cumulative Payments: The agreement required USD $136,140 in cash payments, the issuance of 1,650,000 common shares, and a final USD$1,500,000 payment, which may be satisfied by Eminent through the issue of common shares. Net Smelter Royalty (NSR): The Optionor retains a 2% NSR, which Eminent may purchase in 0.1% increments for USD $100,000 each, up to a maximum of 1%. Eminent made an annual share issuance of 500,000 shares, and elected to satisfy the final cash payment through the issue of 5,832,941 common shares. The final cash payment of USD$1,500,000 was deemed converted to Canadian dollars at an exchange rate of CDN$1.4015 for each US$1.00. The shares were issued at a deemed price of CDN$0.3604 per share. The shares issued are subject to a hold period in Canada until August 12, 2025. Paul Sun, President and CEO of the Company commented: "The acquisition of full ownership of the Hot Springs Range Project represents a pivotal milestone in advancing its early success and unlocking the immense potential we see in this venture. With multiple geological features identified as analogous to deposits within the prolific, parallel Getchell Gold Trend, the project holds significant promise for discovering a new Carlin-style deposit. The results from the first drill hole have validated our thesis, and with the second drill hole pending, ongoing drilling continues to strengthen our confidence in this opportunity." Figure 1. Eminent Project Location MapTo view an enhanced version of this graphic, please visit: Figure 2. Location Map of HSRP project relative to the Getchell view an enhanced version of this graphic, please visit: Figure 3. Eminent HSRP Claims Boundary Map To view an enhanced version of this graphic, please visit: 1. 2. Nevada Gold Mines. (2021, May 20). Investor Day Presentation. Barrick Gold Corporation. 3. ON BEHALF OF THE BOARD OF DIRECTORS Paul SunCEO & Director For further information, please contact: Eminent Gold Corp. Phone: +1 604-505-7751Email: michael@ @eminent_gold LinkedIn: 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, Gilbert South, and Celts. 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 anticipated completion of the private placement and the use of proceeds from the private placement. 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 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. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
03-03-2025
- Business
- Yahoo
Eminent Begins IP Program at Celts Project in Nevada
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (FSE: 7AB) (the "Company" or "Eminent") is pleased to announce that it has begun a test geophysical program consisting of two Induced Polarization (IP) lines at its Celts ("Celts") project in Nevada (Figure 1). Eminent believes Celts is a strong exploration analogue to the recent Silicon discovery (3.40 million ounces of indicated and 800,000 ounces of inferred gold resources3). The program will consist of two test lines that will cover the high-grade historical vein on the east side of the property, as well as potential precious metal mineralization under the steam-heated alteration cap (Figure 2). If a significant chargeability-resistivity signal is obtained, additional lines will be conducted around that signal to better define a potentially significant gold-bearing structure. The Company has contracted Zonge International out of its Reno, NV office to perform the work. Zonge is a pioneer in the use of Induced Polarization, which is used to both obtain signals indicating the presence of small amounts of sulfides as well as silicification in the form of either quartz and/or chalcedony1, both of which are typically present in low-sulfidation epithermal gold deposits. IP was used successfully by AngloGold Ashanti at Silicon to identify potential gold bearing zones under a similar barren steam cap: "During October 2018, an orientation Induced Polarization (IP) pole-dipole survey line, ~1.5 km in length, was completed over the core of the Silicon system by Planetary Geophysics that delineated a coincident chargeable-resistive anomaly where mineralization had been intersected."2 Paul Sun, President and CEO of the Company commented: "As we wait with great anticipation for the results from Hole 2, expected in the coming weeks at our Hot Springs Range Project, we are excited to advance our Celts project towards drilling through the initiation of geophysics. Eminent is uniquely positioned with multiple premier gold exploration projects in Nevada that have yet to see significant exploration. Notably, two of the three projects have considerable untested analogues to major mines in Nevada." Dan McCoy, Chief Geologist and Director commented: "We are very excited about our pending results, but also about starting work at Celts using a technique that got AngloGold Ashanti into discovery mode at its 13.2 Moz expanded Silicon Project. This will put Celts in the position to experience inaugural holes in the second half of this year, supporting our goal of exploring a pipeline of new world-class gold opportunities in Nevada as gold continues to perform." About the Celts Gold Project The Celts property was originally identified and staked by Orogen's technical team, the same group responsible for AngloGold Ashanti's recent Silicon discovery, which boasts 3.4 million ounces of indicated gold resources and 800,000 ounces of inferred gold resources3. Following the success at Silicon, AngloGold discovered a more extensive deposit within Orogen's area of interest (AOI), known as Merlin, with an inferred resource of 12.10 million ounces of gold¹. Given the similar geology and regional setting, the Celts Project represents a significant addition to Eminent's exploration portfolio. The Celts Project, encompassing 67 unpatented claims over 560 hectares, is in the prolific Walker Lane in southwest Nevada, approximately thirteen kilometers northeast of the historic town of Goldfields. Orogen has identified a substantial steam cap of approximately 800 square meters at the Celts Project, featuring silica and advanced argillic alteration-characteristics it shares with Silicon. This alteration is situated within a rhyolite dome complex, which is of the same age as rhyolite samples from Silicon5 and intrudes through a thick basalt unit covering much of the property. High-grade gold veins historically mined at the periphery of the property, with grab samples up to 33 grams per tonne (g/t) Au, highlight the potential target zones beneath the rhyolite dome and basalt, which Orogen considers a potential aquiclude (Figure 3). Similar to Silicon, the steam cap at the Celts Project is devoid of gold and other trace elements, as the alteration occurred above the water table. The low-sulfidation gold deposits that often underlie these steam caps form in boiling zones below the water table and require drilling for confirmation. The evidence for such zones at the Celts Project includes the peripheral veins mentioned earlier. Minimal drilling has occurred near these veins, and none beneath the steam cap and basalt outcroppings. To explore these promising targets, Eminent plans a comprehensive surface exploration program at the Celts Project, leveraging geophysical and geochemical techniques proven effective at Silicon and similar deposits. The area around the Celts Project claims has also seen staking activity from Barrick, one of the world's largest gold producers. All scientific and technical information in this news release has been prepared by, or approved by Michael Dufresne, Mr. Dufresne is an independent qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Fig1. Celts Project Location Map To view an enhanced version of this graphic, please visit: Fig 2. Induced Polarization (IP lines) showing geology, alteration, and veins. To view an enhanced version of this graphic, please visit: Fig 3A. Google Earth image showing dome and steam cap at Celts, Fig. 3B Geology, Alteration and Property Map of the Celts property showing the section trace of Fig. 3C. Fig 3C. Schematic cross-section of the Celts property showing mineralization model below the rhyolite dome and basalt. Except for the drillholes at the Gold Button shaft, there has been no drillhholes to test the model. To view an enhanced version of this graphic, please visit: AngloGold Ashanti. (2024). Technical Report Summary, Merlin deposit, Expanded Silicon project, An Initial Assessment Report, p.48 of 129 pages. Includes 3.4Moz Au of indicated resources at Silicon, 0.8Moz Au at Silicon, and 9.05 Moz Au at Merlin. AngloGold Ashanti. (2024). Technical Report Summary, Merlin deposit, Expanded Silicon project, An Initial Assessment Report, 129 pages. John, D. A., & Henry, C. D. (2020). Magmatic-tectonic settings of Cenozoic epithermal gold-silver deposits of the Great Basin, western United States. In Geological Society of Nevada 2020 Symposium Volume. ON BEHALF OF THE BOARD OF DIRECTORS Paul SunCEO & Director For further information, please contact: Eminent Gold Corp. Phone: +1 604-505-7751Email: michael@ @eminent_gold LinkedIn: 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, Gilbert South, and Celts. 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 anticipated completion of the private placement and the use of proceeds from the private placement. 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 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. To view the source version of this press release, please visit Sign in to access your portfolio
