Breakthrough Nevada Gold Intercept Opens Up a New Carlin-Style Trend

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE) reported new assay results from Drillhole HSC005 at the Otis target within its 100% owned Hot Springs Range Project in Humboldt County, Nevada, located approximately 15 kilometers northwest of the Getchell Trend. The company said that all four deep core holes completed to date at Otis intersected oxide-hosted Carlin-style gold mineralization. Hole HSC005 returned 9.2 meters grading 3.2 grams per tonne gold, representing the strongest intercept reported from the project to date.

The company stated that the intercept supported the interpretation of the Hot Springs Range Project as an emerging Carlin-type gold trend parallel to the Getchell Trend, which hosts multiple high-grade Carlin-style deposits in Nevada, including Turquoise Ridge and Twin Creeks. It added that only the Otis target had been drilled so far and that the inclusion of untested geophysical and geochemical anomalies at Eden, Sitka, and north of Otis suggested that the potential mineralized corridor was comparable in strike length and orientation to the Getchell Trend.

The company also announced the appointment of Dan McCoy, Ph.D., as President and Chief Executive Officer, effective immediately. Dr. McCoy is a Nevada-based geologist with more than 40 years of experience and previously served as President and Chief Executive Officer of Keegan Resources, where he led the discovery and advancement of the approximately 5 million ounce Esaase gold deposit in Ghana. He later served as Chief Geologist at Cayden Resources, which sold for US$205 million in 2014. Dr. McCoy most recently served as Eminent Gold’s founding Chief Geologist and Director. Paul Sun stepped down as President and Chief Executive Officer due to time constraints and transitioned to a director role.

Dan McCoy said, "Our fourth hole (HSC005) is a breakthrough intercept for the project due to the consistency and length of high-grade oxide gold mineralization. This Carlin-type intercept rates as one of the most important in recent years. Unlike many programs chasing deep, refractory mineralization at the edges of known trends, HSRP represents a completely new gold trend in an underexplored range, right next door and parallel to the prolific Getchell Trend."

The company provided geological context for the intercept, stating that Hole HSC005 was the first to penetrate the northwest-trending Little Humboldt fault and encountered thicker and more intense hydrothermal alteration than the previous three holes. It reported that all gold mineralization intersected to date was hosted within the Mississippian Home Ranch Terrane, composed primarily of volcanic rocks with highly varying textures and lesser limestone. The company described two stages of alteration: an early ductile deformation event that mobilized calcite into veins and a later brittle event associated with gold mineralization that produced secondary brecciation, decalcification, and replacement by silica, illite, and iron oxides.

Eminent Gold stated that assays within the reported interval ranged from 1.0 grams per tonne to a high of 5.4 grams per tonne gold and that alteration extended into deeper hornfelsed andesite breccia in the footwall of the Little Humboldt fault, which it said was indicative of a robust hydrothermal system. The company said drilling was ongoing on a fifth hole from Pad 5 to obtain a perpendicular section across the Otis fault and that all samples were assayed by Paragon Geochemical in Reno, Nevada, using fire assay with AAS finish under a quality assurance and quality control program that included blanks, standards, and duplicates.

Gold Demand Anchored by Central Bank Buying and Rising Geopolitical Risk

A December 31 report from Ahead of the Herd described the previous year as "historic in that gold, silver and copper all rose significantly at the same time," adding that "gold has gained 69% to US$4,331.90 an ounce." The publication attributed gold's strength to multiple macro drivers, stating that the metal had "rocketed higher due to a combination of factors, including safe haven demand arising from numerous geopolitical hot spots (Gaza, Ukraine, and recently, Venezuela) a lower U.S. dollar, central bank buying, robust gold-backed ETF inflows, a cooling U.S. labor market, and the prospect of the Fed lowering interest rates further next year."

Russian economist Yevgeny Biryukov was quoted as saying, "For BRICS countries, gold is a tool to protect against sanction risks, a response to the unreliability of traditional partners, and a tangible asset recognised for thousands of years." The same report stated that central banks had purchased "more than 1,000 tonnes of gold per year from 2022-24," describing it as "the longest sustained gold-buying period in modern history," and added that the combined official gold reserves of BRICS member states exceeded 6,000 tonnes.

The Economic Times wrote on January 3 that bullion markets were closely tracking developments after U.S. military action in Venezuela, with traders focused on potential short-term reactions in precious metals. Anuj Gupta, Director at Ya Wealth, told Mint that "geopolitical tension may fuel uncertainty," and said COMEX gold had closed at US$4,345.50 per ounce. The article also cited Sandeep Pandey, Co-founder of Basav Capital, who stated that "gold prices may also rise due to risk concerns linked to geopolitical tension," linking bullion demand to heightened global risk awareness.

According to a January 5 article by Hormaz Fatakia, investors had again rotated toward traditional safe havens following the escalation in Venezuela, with the report noting that "gold prices in the futures market gained 1% in early trading on Monday." The same report stated that gold and silver "had their best year since 1979," reflecting the scale of the prior year's rally. It also highlighted the strategic relevance of physical reserves, reporting that Venezuela was believed to hold "the largest gold reserves among South American countries at 161 metric tonnes, which at the current price, could be worth nearly US$22 billion."

Building Toward Multi-Target Coverage Across Nevada

In its December 2025 investor presentation, the Company described the Hot Springs Range Project as a multi-target corridor on a newly explored fault system near Turquoise Ridge, with drilling underway and a total land position of 3,941 hectares. The presentation indicated that new gravity-defined targets had been incorporated into the project, identifying five prospective corridors over more than 10 kilometers of strike length and interpreting a large intrusion as a feature commonly associated with major Nevada gold systems.

The presentation also outlined programs across Eminent's Nevada portfolio. At the Gilbert South Project, which covers approximately 1,050 hectares in the Walker Lane trend, the Company reported that surface gold occurrences, historical drilling, and geophysical surveys were being used to define stacked targets beneath high-grade vein systems. For the Celts Project in southern Nevada, the Company described a drill-ready target beneath a rhyolite dome with steam-heated alteration, where induced polarization geophysics, a method that measures the electrical chargeability of subsurface rocks, had identified a fault beneath the steam cap.

Across the three projects, the investor materials outlined continued drilling at Hot Springs Range, advancement of exploration permits toward drill-ready status at Gilbert South and Celts, and the ongoing integration of new geophysical data into target generation efforts. 

Ownership and Share Structure¹

8.76% of Eminent Gold is held by management and insiders.  Of them, Michael Kosowan holds the most with 6.5%. Strategic Entities hold 19.3% with Kinross Gold holding 9.71% and Milliard Geological Consulting owning 9.59%. The rest is retail. 

Eminent Gold has 78.02 million outstanding shares, 56.13 million free float shares, and a market capitalization of CA$17.91 million. Its 52-week range is CA$0.28 to CA$0.52.