Eminent Gold, a leading gold exploration company, announced on Wednesday its successful acquisition of a new property in Nevada. This property boasts over 100 gold deposit claims and presents an exciting opportunity for the company’s future growth.
The deal involves Eminent Gold exchanging 350,000 of its shares to Orogen Royalties in exchange for the Gilbert South property. Located near Tonopah along the Walker Lane Trend, this property spans an impressive 890 hectares. Furthermore, an additional 200,000 shares will be issued to Orogen Royalties once the drill program commences.
Based on Tuesday’s closing price of Eminent’s stock at 27 Canadian cents per share (20 cents), the total value of the shares being exchanged amounts to approximately C$148,500.
Paul Sun, the Chief Executive of Eminent Gold, expressed his optimism about this acquisition. He believes that the Gilbert South property presents one of the most promising epithermal prospects in the Walker Lane district of Nevada. This acquisition positions the company to explore this renowned historic gold district and further strengthen its foothold in the area.
Eminent Gold’s acquisition of this new property marks a significant milestone for the company. It not only expands their portfolio but also demonstrates their commitment to pursuing strategic opportunities within the gold mining industry.