Issued on behalf of Eminent Gold Corp.
VANCOUVER – Baystreet.ca News Commentary – As September faded into October, gold futures opened above $3,860 per ounce[1], marking the precious metal's first breach above the $3,800 threshold as investors digest the implications of shifting global monetary dynamics. Central banks worldwide have accelerated their purchases for the fourth consecutive year[2], with 95% of surveyed central banks expected to increase gold holdings over the next 12 months while nearly three quarters anticipate shrinking their dollar reserves[3]. U.S. inflation data reinforcing Federal Reserve rate cut expectations and record fiscal deficits have created powerful tailwinds for the metal[4], positioning Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF), Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF), Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF), Miata Metals Corp. (CSE: MMET) (OTCQB: MMETF), and NovaGold Resources Inc. (NYSE-American: NG) (TSX: NG).
J.P. Morgan forecasts gold prices will climb toward $4,000 by mid-2026[5], while Goldman Sachs suggests $5,000 per ounce if dollar reserve diversification accelerates[6]. Central banks added 244 tonnes to official reserves in the first quarter alone, maintaining buying levels 24% above the five-year quarterly average as geopolitical tensions and monetary uncertainty reshape reserve management strategies[7]. With major mining production costs ranging from $1,080 to $1,220 per ounce and gold trading well above $3,800[8], the current pricing environment creates exceptional margin expansion opportunities for producers positioned to capture this historic bull market before institutional capital flows accelerate sector-wide re-ratings.
Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) resumed drilling operations at its Hot Springs Range Project in Nevada. The company is advancing work at the Otis target following initial results that identified gold mineralization in three exploration holes completed earlier this year.
The current program includes two core holes targeting the northeast-trending Otis fault. Hole HSC005 will test a structural intersection between the Otis fault and the northwest-trending Little Humboldt fault, which was originally defined by CSAMT geophysics. Hole HSC006 will drill from a new pad with its orientation to be determined based on results from HSC005.
“We are expanding the initial drill program that returned gold mineralization in each of the first three holes,” said Paul Sun, CEO of Eminent Gold. “HSRP now hosts five targets across a district-scale footprint, offering the analogous scale, structure, and chemistry of a major Carlin-style discovery. This next phase will build on geological vectoring from the initial holes and incorporate findings from a recent gravity survey, targeting the potential source of the gold identified.”
The drilling has been approved by a joint technical committee formed with Kinross Gold, which acquired a 9.9% equity stake in Eminent in May. Kinross also contributes two technical advisors to the committee overseeing exploration strategy at the property.
Initial drilling at the Otis target intersected gold grades reaching up to 8 grams per tonne across multiple intervals. The three holes, designated HSC002 through HSC004, confirmed mineralization along approximately 400 meters of strike length. The gold occurs primarily with iron oxide rather than sulfide minerals, which the company notes is favorable for conventional cyanidation-based gold recovery methods.
“These two holes are excellent follow-ups to HSC002–004, helping us define the nature and extent of mineralization along the Otis fault and its intersection with the NW-trending Little Humboldt fault — with those fault intersections being a highly prospective setting for Carlin-type gold systems,” said Dan McCoy, Chief Geologist of Eminent Gold. “Hole HSC006 will target the Otis fault and other mineralized structure from a pad we have not used before.”
A gravity geophysics survey completed in September provided additional data supporting the exploration model. The survey, processed by Jim Wright of JL Wright Geophysics, identified five distinct exploration targets across the property. Three of these lie within the northeast-trending corridor that includes Otis, Sitka, and Eden. The geophysics confirmed over 10 kilometers of cumulative strike length defined by multiple northeast-trending faults.
Most of the targeted structures are obscured by post-mineral basalt flows and alluvial cover, which has limited previous exploration in the area despite its proximity to producing mines. The property sits approximately 15 kilometers northwest of Nevada Gold Mines' Turquoise Ridge operation, which has produced over 7 million ounces of gold.
The Hot Springs Range Project covers 3,500 hectares on federal land in Humboldt County, Nevada. The property lies at the intersection of two mineral trends: the Getchell Trend, with an estimated 50 million ounces of gold endowment, and the Battle Mountain-Eureka Belt. The northeast structural orientation identified at Otis is consistent with mineralized structures at other Carlin-type deposits in the region, including Turquoise Ridge located 15 kilometers to the southeast.
Eminent holds 419 federal lode claims at the project. The company acquired 168 claims through an option agreement in March 2020 and staked the remaining 251 claims in 2020 and 2021. A 2% net smelter royalty applies to the property, with the company holding an option to purchase up to 1% of the royalty in 0.1% increments for $100,000 each.
The company's exploration portfolio also includes the Gilbert South project, which targets high-grade epithermal vein systems in the Walker Lane trend, and the Celts project, positioned as a potential analogue to AngloGold Ashanti's Silicon deposit. Gilbert South is scheduled for drilling in 2026, while Celts advanced to the drilling stage earlier this year following completion of an induced polarization geophysical survey.
Eminent Gold continues to release drill results and exploration updates as work progresses across its Nevada portfolio. Information on current operations and technical developments is available through the company's website and regulatory filings.
In other industry developments and happenings in the market include:
Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) has accelerated its exploration program at its Minera Don Nicolas gold mine in Argentina, adding three new drill rigs and expanding the program from 20,000 to approximately 50,000 metres in 2026. The company is certifying its on-site laboratory to expedite assay results while operations deliver ore to the leach pad at 300,000 tonnes per month with three underground access portals now open.
"Following an internal review of the significant potential of high quality exploration targets at MDN, and the progress the current exploration program is making, we have decided to accelerate and expand the drill program with additional rigs," said Mark Brennan, CEO and Chairman of Cerrado Gold. "We are seeing a significant shift in the operations at MDN as we have a solid base for consistent production and mine life, with numerous high quality opportunities to extend both."
The company expects to deliver proof of concept for significant life-of-mine extension and growth potential by year end. Underground exploration is expected to commence in coming months once sufficient development is completed.
Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) has reported higher-grade results from its WOW Zone at Golden Summit in Alaska, with hole GS2505 intersecting 2.31 g/t gold over 65.4 metres and hole GS2502 returning 4.28 g/t gold over 28.7 metres plus 4.20 g/t gold over 9 metres. The 2025 drilling program has completed 29 holes totaling 18,361 metres with four rigs operating to upgrade inferred mineral resources to indicated resources through targeted infill drilling, geotechnical work, and metallurgical testing.
The company is conducting metallurgical testing at BaseMet Labs in Kamloops using a new master composite of over 1,500 kg from 12 drill holes, with oxidation processes achieving over 92% recovery for Pressure Oxidation, over 91% for Biox, and over 93% for Albion Process. Request for Proposal for the pre-feasibility study has been issued with commencement planned as the company continues resource conversion and geotechnical drilling to support mine design and infrastructure planning.
Miata Metals Corp. (CSE: MMET) (OTCQB: MMETF) has delivered breakthrough drilling results at its Sela Creek Gold Project in Suriname, with hole 25DDH-SEL-033 returning 35.6 metres of 3.04 g/t gold including 14.6 metres of 4.95 g/t gold, the widest and best-mineralized intercept ever drilled at the project. Hole 25DDH-SEL-032 confirmed continuity with 36.8 metres of 1.71 g/t gold, indicating two stacked mineralized lenses with potential for additional parallel zones.
"These intercepts are a breakthrough for Sela Creek, delivering wide and continuous zones of gold mineralization at our Jons Trend target, which hosts the largest artisanal pit at Sela Creek," said Dr. Jaap Verbaas, CEO of Miata Metals. "We are evaluating Jons Trend as a potential open-pit opportunity, and the presence of a second, lesser intercept in hole 25DDH-SEL-032 suggests the potential for additional parallel zones."
The mineralization is hosted within fold hinges in metasedimentary rock, a deposit style well established at producing mines in Suriname, with assays pending from six additional holes at Jons Trend.
NovaGold Resources Inc. (NYSE-American: NG) (TSX: NG) has reported high-grade results from its 2025 Donlin Gold drill program in Alaska, including standout intervals of 7.35 metres grading 23.49 g/t gold and 51.90 metres grading 3.77 g/t gold. Following the landmark $1 billion transaction with Paulson Advisers LLC, the program has completed 29 holes totaling 18,361 metres with up to 80 locally hired personnel supporting resource conversion and Bankable Feasibility Study advancement.
"It is most rewarding to see what we believe are such great returns on our investment to date in the 2025 Donlin Gold drill program," said Greg Lang, NOVAGOLD's President and CEO. "These results not only reinforce Donlin Gold's standing as one of the most responsible and significant development-stage gold projects in the world, but also provide critical data needed to advance our geological modelling and engineering work."
The Request for Proposal for the BFS has been issued to top-tier qualified engineering firms with selection expected in fourth quarter 2025, marking an essential milestone toward unlocking full project value.
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CITATION SOURCES:
1. https://finance.yahoo.com/personal-finance/investing/article/gold-price-today-monday-september-29-gold-eclipses-3800-as-government-shutdown-looms-113229159.html
2. https://www.euronews.com/business/2025/09/02/gold-surges-to-record-high-as-central-banks-turn-from-dollar-to-bullion
3. https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2025
4. https://www.cnbc.com/2025/09/26/gold-eases-as-strong-us-data-lifts-dollar-inflation-data-awaited.html
5. https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
6. https://fortune.com/2025/09/04/gold-price-5000-trump-fed-goldman-sachs/
7. https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2025/central-banks
https://markets.financialcontent.com/stocks/article/marketminute-2025-9-29-golds-historic-ascent-lifts-mining-stocks-to-unprecedented-heights-amid-global-turmoil
