Emergent Metals Markets New York Canyon Property for Potential Sale or Joint Venture
Vancouver, British Columbia — April 27, 2026 — Leads & Copy — Emergent Metals Corp. is marketing its New York Canyon Property, NV, for sale, option, or joint venture, according to a news release. The property consists of 320 unpatented mineral claims and 21 patented mineral claims totaling about 6,800 acres. It is located in the Santa Fe Mining District, Mineral County, west-central Nevada, approximately 30 miles east of Hawthorne.
The NY Canyon property is comprised of the North Block and the South Block. The South Block has copper skarn and porphyry mineralization in the Longshot Ridge, Copper Queen, and Champion target areas. The North Block has copper skarn, porphyry, and gold mineralization and is adjacent to the past-producing Santa Fe Mine, which Lahontan Gold Corporation is advancing toward production.
Target areas on the North Block include Emma (copper) and the Yorkie targets (gold).
Emergent announced on October 23, 2025, that it had sold 27 claims, part of the North Block, to Lahontan for US$60,000 in cash and 2,000,000 shares. The Santa Fe Mine historically produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open-pit mines using heap-leach processing.
The Santa Fe Mine has a National Instrument 43-101 Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery). The source is a Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project, effective date Dec. 10, 2024, report date January 24, 2025, available under Lahontan’s corporate filings at www.sedarplus.ca.
Deposits were discovered and mined at NY Canyon dating back to 1875. The Property has been explored since the 1960’s by Conoco, Kookaburra Resources Ltd., and various joint ventures including Coca Mines and Phelps Dodge. Aberdene Mines Ltd. (subsequently renamed Canyon Copper Corporation and then Searchlight Resources Inc.) acquired the property around 2004. Total drilling on the Property, before Emergent’s ownership in 2024, was 139,056 ft in 274 holes. From Copper Queen to Longshot Ridge, the length is 6.4 km (4.0 miles). The average width of the known mineralization is 3.2 km (2.0 miles). Copper mineralization, including skarn and porphyry types, is found in all three deposits.
Copper is officially recognized as a critical mineral for the U.S. economy, national defense, and energy transition. Copper was initially recognized as a critical metal in 2023 by the Department of Energy. It was recently added to the 2025 USGS List of Critical Minerals due to high supply chain risks. Copper is essential for clean energy technology (wind, solar, and geothermal), electric vehicles, and grid infrastructure. NY Canyon is located in Nevada, the number one mining jurisdiction for mining investment, according to the Fraser Institute’s 2025 Annual Survey of mining companies.
Conoco reported a 142 million tons inferred resource grading 0.35% copper, 0.015% molybdenum, 0.1% Zn, 4 ppm silver, and 0.1 ppm gold for the Copper Queen deposit in the internal report dated May 10, 1979. In another internal report completed on September 20, 1979, Conoco reported “possible reserves from drill-hole data and geologic interpretation on cross sections” of 13.2 million tons grading 0.55% copper for the Longshot Ridge prospect. These are historical reserve and resource estimates prepared before the implementation of NI 43-101 and use terminology not compliant with current reporting standards. A qualified person has not audited or verified these historical estimates nor made any attempt to re-classify the estimates according to current NI 43-101 Standards of Disclosure or the CIM standards.
Work by Searchlight focused on the Longshot Ridge area, where they drilled 27,605 feet in 73 holes. In a 2010 NI 43-101 Technical Report, Searchlight defined a historic indicated resource of 16.3 million tons of 0.43% copper and a historic inferred resource of 2.9 million tons of 0.31% copper in the Longshot Ridge copper oxide skarn area. A cut-off grade of 0.20% copper was used. This mineral resource estimate is considered historical as defined by NI 43-101, and a qualified person has not audited or verified this resource as a current mineral resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company is not treating the historical estimate as current mineral resources or mineral reserves.
Drilling reported in a May 10, 1979, internal report, included a significant interval of chalcopyrite and molybdenite mineralization in drill-hole MN-42, drilled in 1977. MN-42 intersected 1,020 ft of 0.41% Cu, 0.012% Mo, 4.5 ppm Ag, and 0.1 ppm Au from 560 ft to 1,580 ft (true width unknown). Note that this hole was drilled before the implementation of NI 43-101 Standards of Disclosure for Mineral Projects, and QA/QC procedures are unknown. Kennecott Exploration Company re-assayed MN-42, with assay results summarized in the October 4, 2021, press release. The re-assay results included 1,310 ft of 0.341% Cu, 0.012% Mo, 3.3 ppm Ag, and 0.04 g/t Au (0.443 CuEq) from 350.0 ft to 1,660 ft.
On February 11, 2020, Emergent announced it had signed an Earn-in with Option to Joint Venture Agreement with Kennecott, a subsidiary of Rio Tinto plc. Kennecott agreed to option the NY Canyon Property with three incremental options to acquire up to 75% of the Property by conducting up to US$22.5 million in exploration expenditures over a period of up to 11 years.
Between 2020 and 2023, Kennecott completed approximately US$6.7 million in exploration expenditure, including geologic mapping, re-assaying of selected intervals of 10 historic core holes, surface rock chip sampling, UAV magnetic geophysics and DEM survey, passive seismic survey, carbon-oxygen isotope analysis, and 19,059 ft of diamond core drilling.
On June 30, 2023, Emergent announced that Kennecott had elected to terminate the Option to Earn-in Agreement, effective June 29, 2023. Kennecott transferred all its exploration data to Emergent, as well as the mineral claims it had staked.
On May 1, 2024, Emergent announced that it had signed an Option Agreement for Purchase and Sale of the NY Canyon Property with Ivanhoe Electric Inc. At the time, Ivanhoe had an option on the White Hills Property, located about 20 miles from NY Canyon. Ivanhoe had the option to acquire the Property by making cash and share payments of US$2.0 million (US$300,000 paid) on or before August 1, 2025. Ivanhoe conducted exploration on the Property, including mapping, geophysics, and rock chip sampling. In early 2025, Ivanhoe dropped the White Hills Property and subsequently Ivanhoe terminated the Option Agreement at NY Canyon, effective July 12, 2025.
On October 23, 2025, Emergent announced it had sold 27 claims, part of the NY Canyon Property, to Lahontan. The sale included 27 claims in the northwest corner of the Property and south of Lahontan’s York resource on their adjacent Santa Fe Mine Property. The sale will allow Lahontan to expand the pit shell for its York resource to the south, onto the new claims area, and tentatively increase the resource size. Terms of the transaction were US$10,000 paid on signing a LOI, a promissory note with a 6-month term for US$50,000 (subsequently paid), and 2.0 million Lahontan common shares. In addition, Lahontan granted Emergent a 1% net smelter royalty on the 27 claims, hereinafter referred to as the York Property. Lahontan may purchase the royalty for US$500,000 prior to the 3rd year of the Definitive Agreement, or for US$1,000,000 between the third and seventh year of the Definitive Agreement, after which the buyout rights expire.
David Watkinson, President and CEO of Emergent, said that work by Kennecott and Ivanhoe confirmed the potential for additional skarn and copper porphyry mineralization on the North and South Blocks of the Property, as well as gold mineralization on the North Block. Watkinson added that Emergent is currently searching for a partner to acquire to advance NY Canyon.
David Watkinson, P.Eng., a non-independent Qualified Person for Emergent under National Instrument 43-101, reviewed and approved all scientific and technical information contained in the news release. Mr. Watkinson is the President and CEO of Emergent.
Emergent Metals Corp. is a gold and base metal exploration company focused on Nevada and Quebec. The Company’s strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sales, joint ventures, options, royalties, and other transactions.
In Nevada, Emergent’s Golden Arrow Property is an advanced-stage gold and silver property with a well-defined measured and indicated resource and a Plan of Operations and Environmental Assessment in place to conduct a major drilling program. Emergent is in the process of selling Golden Arrow to Fairchild Gold Corp. New York Canyon is an advanced-stage copper skarn and porphyry exploration property. The West Santa Fe Property is a gold, silver, and base metal property, subject to a Lease with an Option to Purchase Agreement with Lahontan Gold Corporation. Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operators of Rawhide Mine.
In Quebec, the Casa South Property is a gold exploration property located south of and adjacent to Orezone Gold Corporation’s operating Casa Berardi Mine and north of and adjacent to IAMGOLD Corporation’s Gemini Turgeon Property. The Trecesson Property is a gold exploration property located about 50 km north of the Val d’Or mining camp.
Emergent has a 1% NSR in the Troilus North Property, part of the Troilus Gold Project, being advanced by Troilus Mining Corporation toward production. The Company has a 1% NSR in the EastWest Property, part of Agnico Eagle Mines Limited Canadian Malartic Complex. Emergent also has a 1% NSR on the York Property, part of Lahontan Gold’s Santa Fe Mine in Nevada, being advanced toward production.
Note that the location of Emergent’s properties adjacent to producing or past-producing mines or advanced stage properties does not guarantee exploration success at Emergent’s properties or that mineral resources or reserves will be delineated.
Source: Emergent Metals Corp.
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