Issued on behalf of Eminent Gold Corp.
VANCOUVER – Baystreet.ca News Commentary – Gold ignited 2026 by shattering $4,400 per ounce, marking its most explosive performance since 1979 following a 65% surge in 2025 fueled by record-breaking central bank accumulation[1]. This structural shift has investors aggressively rotating into high-grade oxide projects where major-miner backing and favorable policy create district-scale discovery potential[2]. This convergence of record bullion prices and industrial expansion drives the investment thesis for Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF), Allied Gold Corporation (NYSE: AAUC) (TSX: AAUC), Gold Resource Corporation (NYSE-A: GORO), 1911 Gold Corporation (TSXV: AUMB) (OTCQX: AUMBF), and Adyton Resources (TSXV: ADY) (OTCPK: ADYRF).
J.P. Morgan forecasts gold will push toward $5,000 per ounce by the fourth quarter of 2026, supported by 585 tonnes of quarterly investor and central bank demand[3]. The mining sector enters 2026 with production scaling and high-grade discoveries emerging as primary catalysts[4], as major operations demonstrate their ability to deliver growth through both immediate production expansion and breakthrough exploration in world-class mining districts.
Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (FSE: 7AB)recently announced breakthrough drill results at its Hot Springs Range Project in Nevada, with Hole HSC005 returning 31.8 meters of 1.0 grams per tonne gold including 9.2 meters at 3.2 grams per tonne gold, and the immediate appointment of Dan McCoy as President and CEO.
The intercept represents the best results to date at the Otis target, located approximately 15 kilometers northwest of Nevada Gold Mines' Turquoise Ridge operation. All four core holes completed at Otis have now intersected significant oxide Carlin-style gold mineralization, suggesting the company is developing an emerging gold trend parallel to the Getchell Trend, which hosts over 50 million ounces of gold.
"Our fourth hole (HSC005) is a breakthrough intercept for the project due to the consistency and length of high-grade oxide-gold mineralization," said McCoy, the newly-appointed President and CEO of Eminent Gold. " 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.”
McCoy, a Nevada-based geologist with over 40 years of experience, previously served as President and CEO of Keegan Resources where he led the team that discovered and advanced the approximately 5 million ounce Esaase gold deposit in Ghana, now a producing mine. He subsequently served as Chief Geologist for Cayden Resources, which sold for $205 million in 2014 to Agnico Eagle. Paul Sun, who stepped down due to time constraints, transitions to a director role while remaining actively involved with the board.
In late October, Eminent expanded its Hot Springs Range Project through staking new claims, bringing the total project area to approximately 3,941 hectares. The newly acquired 441-hectare claim package covers gravity anomalies identified in the 2025 survey, including a potential buried intrusion and a recessed basin that represent high-priority exploration targets.
Hole HSC005 penetrated the northwest-trending Little Humboldt fault and encountered thicker and more intense hydrothermal alteration than previous holes. The gold mineralization occurs in oxide-hosted rocks, favorable for conventional cyanidation-based recovery methods.
With the geological model now validated, the company plans to transition to faster, lower-cost reverse-circulation drilling in 2026 to test the open targets at Otis and the remaining four high-priority targets across the 10-kilometer structural corridor. Kinross Gold acquired a 9.9% stake in Eminent in May 2025 and contributes two technical advisors to the joint technical committee overseeing exploration strategy.
In other industry developments and happenings in the market include:
Allied Gold Corporation (NYSE: AAUC) (TSX: AAUC) has commenced operations and begun processing ore through the fresh ore comminution circuit installed pursuant to the Phase 1 expansion at Sadiola in Mali, marking a significant milestone in the transformational growth strategy for this long-life asset. The Phase 1 expansion enables Sadiola to increase the proportion of fresh ore in the feed from approximately 20% to 60% at an expected throughput of 5.7 million tonnes per annum.
In the current quarter, with contributions from recently discovered oxide ore sources and modest contributions from the Phase 1 circuit, Sadiola is expected to produce approximately 60,000 gold ounces, representing an increase over the average of prior quarters this year of approximately 40%. Overall company production this quarter is expected to exceed 113,000 gold ounces, an increase of almost 30% over the average for prior quarters this year.
The company is in final stages of studies aimed at defining the preferred growth path for Sadiola, evaluating a progressive, modular and organic expansion of current facilities rather than a more expensive larger plant originally contemplated. With implementation and completion of Phase 1, Sadiola is expected to maintain more consistent production of 200,000 to 230,000 gold ounces annually, representing a 17% to almost 30% increase over 2023 production.
Gold Resource Corporation (NYSE-A: GORO) has reported strong production results from the Three Sisters area at the Don David Gold Mine in Oaxaca, Mexico, with operations from November 8-14 delivering 6,769 tonnes processed at an average net smelter return of $1,512 per tonne, 129% higher than modelled, and November 15-21 delivering 6,580 tonnes mined at an average NSR of $723 per tonne, 40% higher tonnage and 91% higher NSR than planned.
"The production values we have seen over the past two weeks confirm and validate the potential upside of the Three Sisters area," said Allen Palmiere, President and CEO of Gold Resource Corporation. "While these exceptional results exceed what we expect on a sustained basis, they underscore the conservatism of our geological modelling and mine planning in addition to highlighting the potential of this zone to generate significant cash flow."
The company has made a strategic decision to resume work on the Back Forty Project in Michigan, with discussions underway with consulting firms to complete a feasibility study and begin the permitting process. A technical report filed in October 2023 indicated that a 50% increase in gold price to $2,700 increased the net present value of Back Forty by over 100% to approximately $430 million.
1911 Gold Corporation (TSXV: AUMB) (OTCQX: AUMBF) has commenced a 2,200-meter drill program at the Ogama-Rockland gold deposit, located approximately 27 kilometers southeast of the True North Gold Project in Manitoba's Rice Lake Greenstone Belt. The deposit currently hosts an NI 43-101 compliant Inferred Mineral Resource of 1.28 million tonnes grading 8.17 g/t gold for 337,000 ounces, with historical mining between 1948 and 1951 producing approximately 45,000 ounces at an exceptional grade of 11.25 g/t gold.
"Ogama-Rockland is one of the most advanced and immediately value-accretive satellite deposits within the Company's Rice Lake Exploration Properties portfolio in the prolific Rice Lake Greenstone Belt," said Shaun Heinrichs, President and CEO of 1911 Gold. "Historical mining demonstrated the continuity and grade potential of the vein system, but much of the deposit remains open below shallow historical workings. With our improved structural model and proximity to the True North mine and mill complex, drill testing this target represents an important step towards expanding the high-grade resource base that supports our broader, district-scale growth strategy."
An updated underground mineral resource estimate is anticipated in the first half of 2026 following completion of the drill program, with metallurgical test work planned to confirm the suitability of the True North processing facility. Upon completion of recently announced financing, the company has over $26 million in cash to advance work in 2026 toward a mine restart in 2027.
Adyton Resources (TSXV: ADY) has engaged Global Ore Discovery consultants to advance exploration at its Feni Gold-Copper Project in Papua New Guinea, where the company holds a 1.46-million-ounce gold resource at Kabang. The world-class consulting group will provide expert oversight and targeting strategies, with preliminary observations indicating geological similarities to Newmont's Lihir gold mine.
"Engaging Global Ore Discovery marks the next significant expansion of our discovery efforts at Feni Island," said Tim Crossley, CEO of Adyton Resources. "Global Ore will assist Adyton's team in accelerating this expanded exploration strategy."
Global Ore has already completed site visits and initiated integrated data reinterpretation, with deliverables expected by Q1 2026 including a new high-resolution 3D geological model to optimize drill targeting. The engagement supports a "Whole of Island" strategy expanding beyond current resource drilling to evaluate multiple epithermal gold prospects and concealed porphyry copper-gold targets across Adyton's 100%-controlled Feni claim package.
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CITATION SOURCES:
1. https://finance.yahoo.com/personal-finance/investing/article/gold-price-today-friday-january-2-gold-rises-above-4400-to-start-2026-130441938.html
2. https://investingnews.com/fraser-institute-mining-survey/
3. https://www.jpmorgan.com/insights/global-research/commodities/gold-prices
4. https://mine.nridigital.com/mine_jan26/mining_in_2025_emerging_trends_and_predictions_for_2026
