Emgold Mining Corporation ("Emgold" or the "Company") is pleased
to announce successful completion of its 2012 Exploration Program
(the "Program") at its Stewart Property, B.C. (the "Property"). The
Program is highlighted by:
-Discovery of a new gold exploration target called the Stewart
Creek Gold Zone;
-Discovery of a new base metal exploration target at the Free
Silver Zone; and
-Further expansion of the Stewart Moly Zone to depth.
The early stage poly-metallic exploration property is located in
the Nelson Mining District, approximately 7 kilometers north of
Salmo, B.C. The Property consists of 28 contiguous mineral tenures
covering an area of 5,790 hectares, 100% owned by the Company.
Emgold completed 1,444.5 metres of BTW size diamond core
drilling in 11 drill holes on the Property focusing on three
exploration targets. Highlights of the Program for the Stewart
Creek Gold Zone include:
-3.0 gram per tonne ("g/t") gold over 1.35 metres ("m") (from
24.55 m to 25.90 m) in drill hole 12SC-01;
-1.1 g/t gold over 2.2 m (from 31.95 m to 34.15 m) and 2.8 g/t
gold over 1.60 m (from 46.8 m to 48.4 m) in drill hole 12SC-02;
and
-1.8 g/t gold over 1.0 meters (from 48.90 m to 49.90 m) and 2.4
g/t gold over 0.7 m (from 122.00 to 122.70 m) in drill hole
12SC-03.
Highlights of the Program for the Free Silver Zone include:
-0.08% lead and 0.36% zinc over 2.10 m (from 8.20 m to 10.30 m),
0.20% lead and 0.36% zinc over 7.6 m (from 43.7 m to 51.30 m), and
0.11% lead and 0.34% zinc over 17.55 m (from 57.75 m to 75.3 m) in
drill hole 12FS-01;
-0.05% lead and 0.14% zinc over 30.34 m (from 64.60 m to 94.94
m) in drill hole 12FS-02;
-0.07% lead and 0.19% zinc over 11.20 m (from 39.80 m to 51.0 m)
in drill hole 12FS-03;
-0.05% lead and 0.11% zinc over 25.4 m (from 37.90 m to 63.30 m)
in drill hole 12FS-04; and
-0.09% lead and 0.08% zinc over 4.2 m (from 45.90 m to 49.70 m)
and 0.05% lead and 0.13% zinc over 3.85 m (from 108.50 m to 112.35
m) in drill hole 12FS-06.
Highlights of the 2012 Program for the Stewart Moly Zone
include:
-0.025% molybdenum disulfide ("MoS2") over 58.19 m (from 127.41
m to 185.6 m) including 9.14 m of 0.148% MoS2 (from 127.41 to
136.55 m) in drill hole 12SM-01; and
-0.020% MoS2 over 78.75 m (from 136.55 m to 215.30 m) including
15.14m of 0.074% MoS2 (from 142.75 m to 157.98 m) in drill hole
12SM-02.
Drilling was contracted to Wade Critchlow Enterprises Ltd.,
based in Salmo, BC. Drill pad locations were located to test target
areas that were identified from geological mapping, geophysics, and
geochemical sampling in previous work programs on the Property.
Assaying was done by Acme Analytical Laboratories Ltd. in
Vancouver, B.C.
Details of the 2012 Exploration Program
The Property is in a large north-south regional geologic trend
in the Nelson District containing occurrences of gold, silver,
molybdenum, tungsten, and other mineralization. Exploration work by
Emgold on the Property, prior to this drill program, has included
soil and rock chip sampling, trenching, geophysics, and diamond
drilling focused primarily on the Stewart Moly Zone and Arrow
Tungsten Zone. In total, historic work done by Emgold and others
(excluding the current program) on the Property includes 91 diamond
drill holes totaling 12,294 metres of drilling.
Stewart Creek Gold Zone
The Stewart Creek Gold Zone was identified as an exploration
target through analysis of historic geochemical sampling on the
Property. Geochemical analysis showed an area with elevated zinc,
lead, and molybdenum. In addition, veining in the target area has
been exposed by a road cut created by logging activities. Emgold is
pleased to announce that drilling has resulted in discovery of a
new gold exploration target on the Property which, along with the
Craigtown Creek Gold Zone located in the southwest portion of the
Property, warrants additional exploration. Drill results for the
Stewart Creek Gold Zone are shown in Table 1 below.
Table 1
Significant Drilling Results - 2012 Stewart Drilling Program
Stewart Creek Gold Zone
-------------------------------------------------------------------------
|Hole ID|UTM E |UTM N |Elev.|Az.|Dip|Length|From |To (m)|Width(1)|Au(2)|
| | | |(m) | | |(m) |(m) | |(m) |(g/t)|
|-----------------------------------------------------------------------|
|12SC-01|481561|5460884|1262 |270|-45|99.7 |14.05|14.90 |0.85 |0.4 |
|-----------------------------------------------------------------------|
|and | | | | | | |24.55|25.90 |1.35 |3.0 |
|-----------------------------------------------------------------------|
|and | | | | | | |46.60|48.25 |1.65 |0.3 |
|-----------------------------------------------------------------------|
|12SC-02|481561|5460884|1262 |270|-60|100.0 |31.95|34.15 |2.20 |1.1 |
|-----------------------------------------------------------------------|
|and | | | | | | |35.30|36.60 |1.00 |0.5 |
|-----------------------------------------------------------------------|
|and | | | | | | |46.80|48.40 |1.60 |2.8 |
|-----------------------------------------------------------------------|
|12SC-03|481561|5460884|1262 |90 |-45|151.2 |28.75|29.85 |1.10 |0.3 |
|-----------------------------------------------------------------------|
|and | | | | | | |48.90|49.90 |1.00 |1.8 |
|-----------------------------------------------------------------------|
|and | | | | | | |122.0|122.70|0.70 |2.4 |
-------------------------------------------------------------------------
(1) Sample width only, true width unknown.
(2) All intersections greater than 100 ppb Au listed.
The three drill holes were completed from a single drill pad.
Two holes were drilled to the west and were fanned to intercept the
vein. A single hole was drilled to the east to test for veining in
that direction. Drilling resulted in intersections of veining in
each of the three holes, with several intersections grading over
1.0 g/t gold. Intercepts in holes 12SC-01 and 12SC-02 may be the
same veins intercepted at different elevations.
Free Silver Zone
The Free Silver area consists of a cluster of historic showings,
located in the southeast portion of the Property. The original Free
Silver Claims were staked in 1896. Early work completed on the
claims consisted of small trenching programs in 1906 and 1915. In
2004, Emgold completed a trenching program including grab and rock
chip sampling of the Free Silver Zone. Nineteen out of 29 samples
had grades ranging from 1.1 to 641 g/t silver, zero to 18.3% lead,
and 0.03% to 25.89% zinc (see November 26, 2012 press release for
additional details). No diamond drilling was carried out in the
area until the 2012 program.
Table 2
Significant Drilling Results - 2012 Stewart Drilling Program
Free Silver Zone
---------------------------------------------------------------------------------------------
|Hole ID|UTM E |UTM N |Elev.|Az.|Dip|Length|From |To (m)|Width(1)|Pb%(2)|Zn%(2)|Ag |Au |
| | | |(m) | | |(m) |(m) | |(m) | | |(ppb)|(ppb)|
|-------------------------------------------------------------------------------------------|
|12FS-01|481385|5456748|1509 |100|-45|99.7 |8.20 |10.30 |2.10 |0.08 |0.36 |1.2 |43.1 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |43.70|51.30 |7.60 |0.20 |0.37 |1.7 |4.4 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |57.75|75.30 |17.55 |0.11 |0.34 |3.2 |2.5 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |98.35|99.67 |1.32 |0.00 |0.01 |0.3 |4.4 |
|-------------------------------------------------------------------------------------------|
|12FS-02|481385|5456748|1509 |100|-60|100.0 |36.95|62.95 |26.00 |0.02 |0.02 |1.0 |3.2 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |64.60|94.94 |30.34 |0.05 |0.14 |2.4 |4.7 |
|-------------------------------------------------------------------------------------------|
|12FS-03|481400|5456640|1510 |100|-45|104.9 |1.00 |12.45 |11.45 |0.01 |0.03 |0.5 |26.0 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |26.90|35.65 |8.75 |0.03 |0.06 |1.3 |63.5 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |39.80|51.00 |11.20 |0.07 |0.19 |2.7 |160.4|
|-------------------------------------------------------------------------------------------|
|and | | | | | | |54.45|55.80 |1.35 |0.08 |0.09 |2.7 |136.5|
|-------------------------------------------------------------------------------------------|
|12FS-04|481400|5456640|1510 |100|-60|100.0 |2.70 |34.30 |31.60 |0.01 |0.04 |0.6 |3.7 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |37.90|63.30 |25.40 |0.05 |0.11 |2.0 |72.6 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |78.64|81.95 |3.31 |0.06 |0.07 |1.0 |4.0 |
|-------------------------------------------------------------------------------------------|
|12FS-05|481150|5456969|1449 |320|-45|101.8 |8.00 |9.50 |1.50 |0.01 |0.01 |0.5 |2.5 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |45.55|46.60 |1.05 |0.00 |0.01 |0.6 |0.0 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |71.45|72.00 |0.55 |0.01 |0.03 |1.2 |0.0 |
|-------------------------------------------------------------------------------------------|
|12FS-06|481140|5456968|1449 |360|-45|141.2 |11.30|12.7 |1.40 |0.03 |0.03 |1.22 |25.2 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |45.40|49.70 |4.20 |0.09 |0.08 |2.5 |1.3 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |60.45|62.45 |2.00 |0.01 |0.02 |0.8 |2.7 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |68.65|70.65 |2.00 |0.02 |0.07 |1.8 |0.0 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |97.30|98.85 |1.55 |0.00 |0.01 |0.7 |0.6 |
|-------------------------------------------------------------------------------------------|
|and | | | | | | |108.5|112.35|3.85 |0.05 |0.13 |1.8 |1.1 |
---------------------------------------------------------------------------------------------
(1) Sample width only, true width unknown.
(2) Includes intersections where either lead or zinc where
greater than 100 ppm.
Also included intersections where lead or zinc where less than
100 ppm but part of a mineralized intersection.
In the Free Silver area, a number of parallel to sub-parallel
veins occur at the contact of volcanic rocks with a quartz
monzonite porphyry. The veins vary from 0.1 to 3.0 m wide and trend
in an east-west direction and dip steeply. Mineralization varies
from massive pyrite-pyrrhotite to galena with subordinate pyrite
and sphalerite. Minor molybdenite is reported locally within the
veins. Sylvanite can be found in calcite filled vugs in an andesite
host (occurring as a xenolith in monzonite) and is associated with
trace amounts of chalcopyrite and galena.
Emgold's 2012 drill program included a total of six diamond
drill holes at three locations in the Free Silver Zone. Holes were
drilled to test veins that had been identified by trenching and
sampling in 2004 looking for silver, lead, and zinc mineralization.
Significant results from the Program are shown in Table 2
above.
Drilling encountered low grade lead and zinc mineralization,
with minor amounts of gold and silver, in every hole. This included
several long intersections in drill holes 12FS-01 (17.55 m),
12FS-02 (26.00 m and 30.34 m), 12FS-03 (11.45 m and 11.20 m), FS-04
(31.60 m and 25.40 m). Note that these are sample lengths, not true
widths. The 2004 and 2012 results indicate that, there may be
potential for lower grade bulk tonnage base metals and higher grade
veining located in the Free Silver Zone.
Stewart Moly Zone
The most extensive zone of molybdenite mineralization found on
the Property thus far is located in the Stewart Moly Zone, in the
east-central portion of the Property. Mineralization is found
within intrusive breccia and forms a podiform, vertically dipping
zone. Mineralization is primarily fine grained disseminations of
molybdenite within the matrix but it also occurs as selvages
associated with quartz veinlets transecting fragments, and as
fracture fillings.
Between 1980 and 1983, Shell Minerals and Selco drilled 23 diamond
core holes in the Stewart Moly Zone, and within this breccia zone,
Shell concluded that mineralization was in breccia pipes (G.W.
Turner, Assessment Reports 7722 and 10072). Selco suggested the
possibility of porphyry style molybdenum mineralization occurring
adjacent to this breccia zone (T. Carpenter, Assessment Reports
12251 and 12166). Emgold's exploration drilling of the Stewart Moly
Zone (30 holes in 2007 and 19 holes in 2011) further defined that
area to be a steep dipping elliptical-shaped (pipe-like) breccia
body. The body appears to have a core of higher grade
mineralization with some intersections grading over 0.1% MoS2 and a
lower grade halo with intersections grading less than 0.1%
MoS2.
The focus of Emgold's 2012 exploration program for the Stewart
Moly Zone was to test the exploration target to a greater depth.
Two holes were drilled as fans from a single drill pad, to depths
of 206.7 m in hole 12SM-01 and 238.4 m in hole 12SM-02. Results
from the drilling are shown in Table 3 below.
Table 3
Significant Drilling Results - 2012 Stewart Drilling Program
Stewart Moly Zone
--------------------------------------------------------------------------------------------
|Hole ID |UTM E |UTM N |Elev.|Az.|Dip|Length|From |To (m)|Width(1)|Mo%(2)|MoS2%(3)|Au |
| | | |(m) | | |(m) |(m) | |(m) | | |(ppb)|
|------------------------------------------------------------------------------------------|
|12SM-01 |480797|5459017|1580 |195|-50|206.7 |127.41|185.60|58.19 |0.015 |0.025 |27.4 |
|------------------------------------------------------------------------------------------|
|including| | | | | | |127.41|136.55|9.14 |0.048 |0.080 |12.6 |
|------------------------------------------------------------------------------------------|
|12SM-02 |480797|5459017|1580 |195|-60|238.4 |136.55|215.30|78.75 |0.012 |0.020 |31.7 |
|------------------------------------------------------------------------------------------|
|including| | | | | | |142.5 |157.98|15.14 |0.044 |0.074 |10.0 |
--------------------------------------------------------------------------------------------
(1) Sample width only, true width not calculated.
(2) Includes Mo intersections typically over 100 ppm but also
includes intersections of less than 100 ppm as part of the
mineralized intersection.
(3) MoS2 calculated as 1.6681 x Mo.
The drilling was successful in extending the halo of low grade
molybdenum mineralization (less than 0.1% MoS2 to a depth
approaching 200 meters. This included long low grade MoS2
intercepts of 58.19 m in hole 12SM-01 and 78.85 m in hole 12SM-02.
In addition, these holes appear to have intersected the higher
grade mineralization in the breccia pipe with drill hole 12SM-01
intersecting 4.94 m of 0.080 MoS2 and drill hole 12SM-02
intersecting 15.14 m of 0.074 MoS2. Note that these are sample
lengths, not true widths.
QA/QC
Emgold's geologists utilized a strict quality assurance plan
during the exploration programs that included communication with
contractors about the needs for appropriate quality assurance,
procurement of supplies and services capable of delivering the
desired level of quality, sample handling to ensure integrity,
inspection and testing to ensure that all work met or exceeded
quality criteria, using methods that reduced the potential for
errors, proper training of staff, and statistical analysis that
ensured quality criteria were met. Blank and standard material was
inserted by Emgold into the sample stream at regular intervals
prior to sending to the lab. The Company completed drill core
logging and processing at its facility in Salmo, BC. Samples were
shipped to Acme Analytical Laboratories ("Acme"), an independent
assay laboratory, in Vancouver for analysis. Acme Vancouver is ISO
9001 Certified. The exploration program was supervised by Perry
Grunenberg, P.Geo. a Qualified Person as defined in National
Instrument 43-101.
The assay laboratory catalogued all samples, maintained complete
chain of custody throughout the analytical process. All sample
preparation was done at the laboratory by their staff following
standard procedures. Samples were crushed, split, and pulverized.
Assaying was done using Aqua Regia digestion with ICP-MS analysis.
As part of their quality assurance, the laboratory incorporated
assaying standards, test blanks, and duplicate analyses of samples,
and included those results in final reports. The final signed
reports completed the chain of custody process. Thus far, no
factors of any kind have been encountered in sampling programs
conducted by Emgold on the Property that could materially affect
the accuracy or reliability of Emgold's sample data. All assay
results to date have been tabulated and reviewed.
David Watkinson, President and CEO of Emgold stated, "Emgold is
pleased by the results of the 2012 drilling program on the Stewart.
The Property has had limited gold exploration to date because past
exploration programs by Emgold and others focused primarily on
molybdenum in the Stewart Moly Zone and tungsten in the Arrow
Tungsten Zone. Additional work is warranted to follow up on gold
exploration in the Stewart Creek Zone and Craigtown Creek Zone.
Additional work is also warranted to further evaluate the Free
Silver Zone. Emgold plans to further analyze this work and
incorporate the drilling into our computer database prior to
developing plans for future exploration."
About Emgold Mining Corporation
Emgold's plans to permit the re-opening of the Idaho-Maryland
Mine in California, subject to extension of the Lease and Option to
Purchase Agreement and financing (see Oct. 26, 2011, Sept. 7, 2012,
and Feb. 1, 2013 press releases). The Idaho-Maryland Mine produced
2.4 million ounces of gold at an average recovered grade of 0.43
ounces per ton between 1862 and 1956. Once the Environmental Impact
Report is complete, operating permits are obtained, and subject to
available financing, the Company plans to dewater and rehabilitate
the historic underground workings, conduct underground exploration,
and ultimately, if exploration is successful, construct a high
grade underground gold operation.
Emgold has several other exploration properties located in the
western U.S. and Canada. These include the Buckskin Rawhide and
Koegel Rawhide gold properties in Nevada and the Stewart and Rozan
poly-metallic properties in British Columbia.
Qualified Person
Technical information in this press release related to Canadian
properties has been reviewed and approved by Mr. Perry Grunenberg,
P.Geo., a Qualified Person as defined in National Instrument
43-101. Mr. Grunenberg supervises technical work related to
Emgold's Canadian properties. Similarly, technical information in
this press release related to U.S. properties has been reviewed and
approved by Mr. Robert Pease, P.Geo., a Qualified Person as defined
in National Instrument 43-101. Mr. Pease is responsible for
supervising the technical work related to Emgold's U.S.
Properties.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information please contact:
Tel: 778-375-3106
Email: info@emgold.com
This release was prepared by the Company's management. Neither
TSX Venture Exchange nor its Regulation Services Provider (as the
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. For more information on the Company, investors should
review the Company's filings that are available at www.sedar.com or
the Company's website at www.emgold.com.
This news release includes certain statements that are
"forward-looking statements" within the meaning of applicable
securities laws including statements regarding the timing of
completion of the Final EIR for the Idaho-Maryland Project, plans
to dewater and rehabilitate the underground workings, the Company's
other work programs such as those for the Stewart Property,
exploration potential, expected results, and other statements.
Forward-looking statements are based on certain assumptions that
the City of Grass Valley and its consultants, which require funding
by Emgold, will complete the EIR in a reasonable timeframe, the
City of Grass Valley will certify the EIR as complete, and the City
of Grass Valley will approve the Conditional Use Permit for the
mine and approve other entitlements under their authority. They
assume other permitting agencies overseeing the project on a local,
state and federal level will grant the permits needed for mining
construction and operation. They assume that actual results of
permitting and exploration activities by the Company on its various
properties are consistent with management's expectations, that
assumptions relating to exploration targets are accurate, and that
necessary financing is available to complete the required
exploration work. They include assumptions about production rates,
production grades, and gold recoveries. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include the failure to obtain the required permits and approvals,
exploration results that are different than those anticipated,
inability to raise or otherwise secure capital to fund planned
permitting, exploration, mine construction and development, and
mine operations. Other risk factors include changes in metal
prices, the price of the Company's shares, the costs of labour, the
cost of equipment, the cost of supplies, actual development and
mining operation successes, exploitation and exploration successes,
approvals by federal, state, and local agencies, permitting delays,
legal challenges to permits, general economic, market or business
conditions, and other factors beyond the control of the Company.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
The Company does not intend to update or revise any forward-looking
information whether as a result of new information, future events
or otherwise, except as required by law.
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