Nevada Explorer Reports Best Intercept Yet as Veteran Geologist Takes the Helm

2026-01-06 12:38:00 ET

Gold exploration in Nevada continues to command attention as companies search for the next major Carlin-style discovery in one of the world’s most prolific mining jurisdictions. With major producers increasingly focused on replenishing reserves, exploration success in underexplored districts, particularly those adjacent to established trends, has become a key driver of investor interest. High-grade oxide discoveries, in particular, are valued for their potential economic advantages and development flexibility.

Shares of Eminent Gold Corp. ( TSX-V: EMNT ) ( OTCQB: EMGDF ) are moving higher Tuesday after the company reported its strongest drill intercept to date at the Otis target within its 100%-owned Hot Springs Range Project in Humboldt County, Nevada. The company also announced the appointment of veteran geologist Dan McCoy, Ph.D., as President and Chief Executive Officer, effective immediately.

Eminent reported assay results from drill hole HSC005, which returned 9.2 meters grading 3.2 grams per tonne gold, including higher-grade intervals of 0.9 meters at 5.4 g/t and 1.1 meters at 4.6 g/t gold. The intercept is part of a broader mineralized envelope measuring 31.8 meters averaging 1.0 g/t gold using a 0.25 g/t cutoff. All four deep core holes completed at the Otis target to date have intersected oxide-hosted Carlin-style gold mineralization.

The results suggest that the Hot Springs Range Project may represent an emerging Carlin-type gold trend running parallel to the prolific Getchell Trend, located approximately 15 kilometers to the southeast. While only the Otis target has been drilled so far, the company has identified additional geophysical and geochemical anomalies at Eden, Sitka, and north of Otis, indicating a potentially district-scale opportunity with comparable strike length and orientation.

Geologically, hole HSC005 is the first to penetrate the northwest-trending Little Humboldt fault and encountered more intense hydrothermal alteration than previous holes. Gold mineralization is hosted within the Mississippian Home Ranch Terrane and is associated with strong silicification, illite alteration, and iron oxide replacement, hallmarks of Carlin-style systems. The presence of hornfelsed volcanic breccias in the footwall suggests proximity to a high-energy hydrothermal fluid source.

Alongside the drill results, Eminent appointed Dan McCoy as President and CEO. Dr. McCoy brings over 40 years of experience and previously led Keegan Resources during the discovery and advancement of the Esaase gold deposit in Ghana, now a producing mine. He also served as Chief Geologist at Cayden Resources, which was acquired by Agnico Eagle for $205 million in 2014. McCoy had been Eminent’s founding Chief Geologist and will now focus full-time on advancing the company’s Nevada portfolio.

With the geological model at Otis now validated, Eminent plans to transition to faster, lower-cost reverse-circulation drilling in 2026 to aggressively test open targets across the 10-kilometer structural corridor.

Shares of EMNT were up 14.7% to C$0.39 in Tuesday trading, while EMGDF advanced 18.3% to $0.28.

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