Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE) announced that drilling has commenced at its Hot Springs Range Project in Humboldt County, Nevada, following mobilization of the drill contractor on July 17. The 10,000-meter reverse circulation drill program follows the company's initial four diamond core holes, which encountered oxide gold mineralization associated with faulting in all completed holes, including an interval of 9.2 meters grading 3.2 g/t gold. The program is designed to expand testing across multiple fault zones within the Hot Springs Range structural corridor.
The 2026 drill program consists of 14 reverse circulation holes at the Otis target and an initial Phase 1 program of up to five reverse circulation holes at the Eden target. According to the company, the program represents the first systematic test of multiple fault zones across the Hot Springs Range structural corridor.
At the Otis target, drilling will follow up on four priority faults, including renewed testing of the Otis Fault, where previous holes are interpreted to have narrowly missed the main fault plane while returning oxide gold mineralization. Updated geophysical interpretation has been used to reposition drill pads for improved structural pierce points at multiple depths. Drilling will also continue along the Little Humboldt Fault, which the company said returned the project's strongest oxide gold interval to date. The company also plans to drill the Hinkey, Otis, and Paradise faults for the first time based on an improved understanding of host-rock density contrasts and structural preparation.
At the Eden target, the Phase 1 program will test three key faults beneath a 3-kilometer gold-in-soil anomaly. The reverse circulation holes will evaluate structural preparation, host-rock characteristics, and the potential for mineralization along each fault. The company said the drill rig is capable of reaching approximately 460 meters, and select holes may be extended with diamond core tails depending on depth achieved and initial results.
Airborne geophysical data suggest density contrasts consistent with potential Comus-type host rocks, and the company said drilling at Eden will evaluate whether that interpretation is present in the subsurface.
The company stated that the approximately 10-kilometer structural corridor at Hot Springs Range lies about 15 kilometers northwest of the Getchell Trend. Beyond the Otis and Eden targets, the company said several additional prospective areas have been outlined across the corridor.
All drill pads, access roads, and permits have been maintained since early April. Drilling is being conducted by Alford Drilling LLC with multiple crews working continuous shifts. Samples will be processed using PhotonAssay under the company's established QA/QC protocols, with results to be released as they are received, validated, and interpreted.
"We are excited to resume drilling at the Hot Springs Range Project," President and CEO Dan McCoy said in the company news release. "This drill program is designed to expand on the gold already intersected at Otis to determine how far the gold mineralization may extend. The program will also initially test our stand-alone, highly prospective 3-kilometer-long Eden target."
2026 Exploration Activities Underway Across Multiple Nevada Targets
According to the company's July 2026 investor presentation, the current exploration program includes up to 10,000 meters of reverse circulation drilling at Hot Springs Range, with Phase 2 drilling at the Otis target focused on expanding the existing geological model and testing refined structural targets identified through seismic interpretation. The program targets multiple fault zones, including the Little Humboldt, Otis, Paradise, and Hinkey faults, with drilling designed around updated structural pierce points.
The presentation also outlines Phase 1 drilling at the Eden target following work at Otis. The program is planned to test interpreted feeder faults beneath a 3-kilometer gold-in-soil anomaly using reverse circulation holes designed to evaluate multiple fault structures within the second exploration corridor at the project.
In addition to drilling, the presentation states that seismic surveys have defined Otis structures and identified fault targets beneath cover at Eden, while airborne magnetic and radiometric surveys, together with three-dimensional magnetic vector inversion modeling, have been completed as part of the integrated geophysical program.
Streetwise Ownership Overview*
Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE)
| Strike Price | Number | Expiry Date |
|---|---|---|
| $0.5 | 164,000 | 07/25/26 |
| $0.55 | 4,511,746 | 08/30/26 |
| $0.5 | 1,921,875 | 09/29/26 |
| $0.55 | 4,511,746 | 10/15/26 |
| $0.7 | 1,975,043 | 05/02/27 |
| $1.5 | 3,787,118 | 05/02/27 |
| $1.5 | 3,787,118 | 05/02/27 |
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 06/25/21 | NVYYF:OTC | 1 | EMGDF:OTC | 1 |
| 02/10/21 | NVY:TSX-V | 1 | EMNT:TSX-V | 1 |
| 02/10/21 | NVYYF:OTC | 1 | NVYYF:OTC | 1 |
The presentation also describes permitted 2026 drilling at the Celts project, where the company plans to target faults beneath a volcanic steam cap using a geological model based on the Silicon discovery, and identifies Gilbert South as a drill-ready opportunity targeting deeper feeder structures beneath a known epithermal vein system at an approximate target depth of 400 meters.
Ownership and Share Structure1
18.35% of Eminent Gold is held by management and insiders. Among them, Justin Milliard, VP of Exploration, holds the largest position at 9.59%, and Michael Kosowan holds 6.5%. Kinross Gold Corp. (K:TSX; KGC:NYSE) is a strategic investor with a 13.8% position. The remainder is held by retail shareholders.
Eminent Gold has 82.26 million outstanding shares, 34.59 million free float shares, and a market capitalization of CA$48.5 million. Its 52-week range is CA$0.28 to CA$0.87.
Frequently Asked Questions
What is the Hot Springs Range Project?
The Hot Springs Range Project is a gold exploration project in Humboldt County, Nevada. The project includes multiple exploration targets, including Otis and Eden, where reverse circulation drilling is underway.
What did Eminent Gold announce?
Eminent Gold announced the start of a 10,000-meter reverse circulation drilling program at its Hot Springs Range Project in Nevada after mobilizing a drill contractor on July 17.
Where is Eminent Gold's Hot Springs Range Project located?
The Hot Springs Range Project is located in Humboldt County, Nevada, approximately 15 kilometers northwest of the Getchell Trend, according to the company.
How large is Eminent Gold's 2026 drilling program?
The company said its 2026 exploration program consists of approximately 10,000 meters of reverse circulation drilling, including 14 planned holes at the Otis target and up to five holes during Phase 1 drilling at the Eden target.
What were the previous drilling results at the Hot Springs Range Project?
According to the company, its initial four diamond core holes encountered oxide gold mineralization associated with faulting in all completed holes, including an interval of 9.2 meters grading 3.2 grams per tonne (g/t) gold.
What is the Otis target?
The Otis target is one of the primary exploration areas at the Hot Springs Range Project. The current drill program includes follow-up drilling on multiple fault zones, including the Otis Fault and Little Humboldt Fault, as well as first-time drilling on the Hinkey and Paradise faults.
What is the Eden target?
The Eden target is a separate exploration target at the Hot Springs Range Project featuring a 3-kilometer gold-in-soil anomaly. The company's Phase 1 program is designed to test three key fault zones beneath the anomaly.
What type of drilling is Eminent Gold conducting?
The company is conducting reverse circulation (RC) drilling as part of its 2026 exploration program. It also stated that select holes at Eden may be extended with diamond core tails depending on drilling results.
What is PhotonAssay?
PhotonAssay is the analytical method the company said it will use to process drill samples under its established QA/QC protocols before releasing validated assay results.
When will Eminent Gold release drill results?
The company said assay results will be released as they are received, validated and interpreted.
What is oxide gold mineralization?
Oxide gold mineralization refers to gold hosted in oxidized rock. The company stated that oxide gold mineralization was encountered in all four completed diamond core holes at the Hot Springs Range Project.
Why is Nevada important for gold exploration?
Nevada is one of the world's leading gold-producing jurisdictions and hosts numerous Carlin-style gold systems, making it a significant region for gold exploration and drilling programs.
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Important Disclosures:
- Eminent Gold is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eminent Gold.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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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.
