sumisu
13 years ago
Emgold Finds High Grade Gold at its Recently Acquired Koegel Rawhide Gold-Silver Property, Nevada
5 hours 6 minutes ago - Marketwire via Comtex
http://finance.yahoo.com/news/Emgold-Finds-High-Grade-Gold-ccn-4257928935.html?x=0
Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) (the "Company" or "Emgold") is pleased to announce that it has confirmed the presence of high grade gold in surface sampling at the Company's recently acquired Koegel Rawhide Property (the "Property") in Mineral County, Nevada. Fourteen grab and chip samples where taken by Emgold, as part of the Company's due diligence, prior to acquiring the Property. Nine samples were taken in the T-10 high grade area by Emgold and averaged 0.27 ounces per ton gold. The 14 samples taken on the Property by Emgold averaged 0.21 ounces of gold per ton gold. Details of the sampling program are outlined below.
Emgold's President, Dave Watkinson, stated, "The exploration opportunities at Koegel Rawhide include the potential for both bulk disseminated and high grade vein gold and silver targets, similar to our nearby Buckskin Rawhide Property. Historic and Emgold sampling in the T-10 high grade area confirms the presence of one such high grade zone and we intend to continue sampling with the goal of identifying others. Emgold looks forward to advancing exploration on the Property."
Emgold plans initially to complete surface rock and soil geochemical sampling programs on the Property with the goal of ultimately developing drill targets. Historic sampling on the Property will be analyzed as an initial guide for these exploration activities. Funds are in place for this work.
The Koegel Rawhide Property consists of 36 unpatented lode mining claims totaling 720 acres. Nineteen of the 36 unpatented mining claims, totaling 380 acres, are currently under a lease and option to purchase agreement. Information on that acquisition was disclosed in a February 13, 2012 news release. The other 17 unpatented mining claims, totaling 340 acres, were recently staked by Emgold and disclosed in a news release dated February 15, 2012.
The Property is located approximately 40 miles southeast of Fallon in the Rawhide Mining District, and five miles southwest of the Rawhide Mine, which is operated by Rawhide Mining Company. Kennecott Minerals, the former owner of the mine, reported that the Rawhide Mine produced 1.47 million ounces of gold and 11.7 million ounces of silver from the years 1988 to 2005. The Property is also situated in the Koegel Hills, six miles south of the Regent Property being explored by Pilot Gold Corporation and four miles south of Emgold's Buckskin Rawhide Property.
Geology of the Koegel Rawhide Property
The Koegel Rawhide Property is a volcanic-hosted, structurally controlled, epithermal gold-silver prospect in the Walker Lane gold belt of western Nevada. The Walker Lane is a regional shear zone and known gold trend that hosts large and small historic and currently operating gold-silver mines, including mines of the Comstock Lode, Tonopah District and Rawhide District. Koegel Rawhide geology and mineralization are associated with lithologic units and structures of the Rawhide volcanic center, as well as structures from the Walker Lane and Basin and Range. The geology and mineralization is similar to the nearby Rawhide Mine, Regent Property, and Buckskin Rawhide Property.
Note that the location of the Koegel Rawhide Property in the vicinity of Rawhide Mine and other nearby exploration properties does not mean that a resource will be identified on the Property. However, the presence of similar geology and mineralized structures to those on the Buckskin Rawhide, Regent, and Rawhide properties and historic mine workings in the area are favorable indicators for the potential of discovery.
Geologic mapping by Charles P. Watson, a consulting geologist, completed in the years 1991-1992, indicates the area is covered mostly by Tertiary (Pliocene) age intermediate volcanic rocks including andesitic tuff breccias, sills and dikes. The volcanic units have been folded into minor anticlines and faulted. Faults of several orientations occur on the Property with north, northwest and northeast trends. Hydrothermal alteration (clay and silica) is present and is associated with structures and mineralization.
Historic Surface Sampling of the Koegel Rawhide Property by Others
Gold and silver mineralization is known to be present at Koegel Rawhide, based on historic randomly spaced surface sampling on the Property. A total of 464 chip and grab samples were taken in geologically derived locations by consulting geologist Charles P. Watson in the years 1991-1992. The average gold grade of these historic samples is shown in Table 1, below:
Table 1
Average Grades of Historic Gold Assays
Koegel Rawhide Property, NV
----------------------------------------------------------------------------
Average Gold Grade
Samples No. of Samples of Samples (opt)
----------------------------------------------------------------------------
All Historic Samples (including
Historic T-10 Zone) 464 0.02
----------------------------------------------------------------------------
Historic T-10 Zone 13 0.52
----------------------------------------------------------------------------
Sample weights are unknown. Samples include grab and chip samples.
Gold grades are arithmetic averages.
The results of the historic grab samples on the Property ranged from non-detectable to 1.99 ounce per ton gold, with 98 percent of those samples having gold grades less than 0.10 ounces per ton gold and two percent being greater than 0.10 ounces per ton gold. The sampling indicates the potential for both high grade vein and low grade bulk disseminated gold and silver mineralization.
Mr. Watson identified the T-10 Zone as one of the potential mineralized high grade vein structures. Historic sampling in the T-10 high grade area included 13 samples ranging in grades from 0.004 to 1.99 ounce per ton gold, with an average grade of 0.52 ounces per ton gold. Dimensions of the zone have not been defined, although the exposure sampled has a width of approximately eight feet. The area is open for expansion in several directions, and the true width of the structure is unknown at this time.
The methods and quality control from the historic sampling are unknown and cannot be verified under NI 43-101, but the results are considered reliable for exploration purposes.
Emgold Surface Sampling of the Koegel Rawhide Property
Emgold's surface samples were taken in areas of known mineralization on the Property, based on historic sampling done by Mr. Watson. The sampling was intended to confirm historic gold grades as part of due diligence work associated with the acquisition of the property and focused on high grade vein targets.
Ten rock chip-channel samples, each 12 inches in length, and four grab samples were taken from outcrops of bedrock and structures. The average gold grade of all samples is shown in Table 2. Dry sample weights varied from one to two pounds.
Table 2
Average Grades of Emgold Gold Assays
Koegel Rawhide Property, NV
----------------------------------------------------------------------------
Average Gold Grade
Samples No. of Samples of Samples (opt)
----------------------------------------------------------------------------
Emgold Samples(including Emgold T-10
Zone) 14 0.21
----------------------------------------------------------------------------
Emgold T-10 Zone 11 0.27
----------------------------------------------------------------------------
Gold grades are arithmetic averages.
Emgold samples were taken December 2011, and include rock chip-channel samples taken over 12 inch widths and grab samples. These are not true widths across the vein.
Emgold's sampling results ranged from non-detectable to 1.60 ounces per ton gold, with 79 percent of the samples having gold grades less than 0.10 ounce per ton gold. Twenty-one percent had grades greater than 0.10 ounce per ton gold. Note that the average of Emgold's 14 gold assays, as shown in Table 2, are higher than the average from the 494 samples historically assayed on the Property, and shown in Table 1. This is because most of Emgold's samples were taken from known higher grade mineralized structures and did not evaluate bulk disseminated targets.
Emgold specifically sampled the T-10 high grade area, with results shown in Table 2. The grade of the 11 samples taken in the T-10 Zone ranged between non-detectable and 1.60 ounce per ton gold. The average grade was 0.27 opt gold. Results of Emgold's sampling compared favorably with historic sampling on the Property.
Emgold's Quality Assurance and Quality Control Program
Emgold's quality assurance program and quality control measures at Koegel Rawhide pertain to all samples taken on the Property. Quality control measures started with representative sampling, proper numbering, and accurately locating samples in the field both visually on maps and also with a GPS instrument. Samples were transported by the geological staff from the field to Emgold's office-warehouse facility to assure secure storage, and were then packaged for shipment to the assay laboratory. Samples were shipped via commercial carriers directly to American Assay Laboratories in Sparks, Nevada, for analysis.
Samples taken by Emgold were analyzed using standard fire assaying and ICP methods. American Assay Laboratories is not ISO certified but participates in CANMET PTP-MAL certification analyses twice per year, GEOSTATS testing twice per year, SMA (U.S. and Canada) twice per year, and IOAG testing twice a year. Emgold's Qualified Person visited American Assay Laboratories in February 2011 to review the general sample handling and preparation measures, and felt they were adequate.
The assay laboratory catalogued all samples, maintained complete chain of custody throughout the analytical process, and electronically mailed the chain of custody forms to Emgold for review prior to initiating sample preparation. All sample preparation was done at the laboratory by their staff. 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 have been detected in any sampling programs conducted by Emgold on the Koegel Rawhide property that would materially affect the accuracy or reliability of Emgold's sample data.
Mr. Robert Pease, Chief Geologist of the Company and a Qualified Person as defined in National Instrument 43-101, participated in and directly supervised the sampling program and interpreted historic data. He has read and approved the scientific and technical information in this press release.
Information Regarding Emgold
Emgold is currently in the advanced stage of permitting the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Mine was once the second largest underground gold mine in California and is reported to have produced 2.4 million ounces of gold at an average recovered grade of 0.43 ounce per ton. Emgold has a number of earlier stage exploration properties including the Buckskin Rawhide and Keogel Rawhide Properties in Nevada, and the Stewart Property and the Rozan Property in British Columbia. For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Keogel Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com. Company filings are available at www.sedar.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the Company's planned work programs, expected results and potential mineralization and resources on the Koegel Rawhide Property. Forward-looking statements are based on certain assumptions of the Company, including that the Company has adequate capital to fund its proposed exploration programs, that actual results of exploration and development activities are consistent with management's expectations, that assumptions relating to mineral resource estimates are accurate, the assumption that metal prices remain at current values, and that the Company is able to procure equipment and supplies for its planned work programs 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 exploration results that are different than those anticipated, inability to raise or otherwise security capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, development and mining operations, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. 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. 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.
U.S. 20-F Registration: 000-51411
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.
Contacts:
Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
604-687-4622 or Toll Free: 1-888-267-1400
info@emgold.com
www.emgold.com
SOURCE: Emgold Mining Corporation
mailto:info@emgold.com
http://www.emgold.com
sumisu
13 years ago
Emgold Acquires Koegel Rawhide Gold-Silver Property in Nevada
2 hours 6 minutes ago - Marketwire via Comtex
http://finance.yahoo.com/news/Emgold-Acquires-Koegel-ccn-202706572.html?x=0
Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) (the "Company" or "Emgold") is pleased to announce that it has signed a Lease and Option to Purchase Agreement with Jeremy C. Wire to acquire the RHT and GEL claims, located four miles south of Emgold's existing Buckskin Rawhide claims in Mineral County, Nevada. The RHT and GEL claims (henceforth called the "Koegel Rawhide Property" or "Property") comprise 19 unpatented lode mining claims totaling 380 acres. The acquisition is subject to TSX Venture Exchange approval.
The Koegel Rawhide Property is located approximately 40 miles southeast of Fallon, in the Rawhide Mining District and Koegel Hills, and five miles southwest of the Rawhide Mine. The Rawhide Mine is now owned and operated by Rawhide Mining Company. Formerly operated by Kennecott Minerals, the Rawhide Mine is reported by Kennecott to have produced 1.47 million ounces of gold and 11.7 million ounces of silver from the years 1988 to 2005. The Property is also situated six miles south of the Regent Property being explored by Pilot Gold Corporation. Note that the location of the Koegel Rawhide Property in the vicinity of Rawhide Mine and other nearby exploration properties does not mean that a resource will be identified on the Property. However, the presence of similar geology and mineralized structures on the Buckskin Rawhide, Regent, and Rawhide properties and historic mine workings in the area are favorable indicators for the potential of discovery.
This acquisition increases Emgold's strategically located gold-silver properties in Nevada to two. Emgold now controls 92 unpatented mining claims totaling 1,840 acres in Mineral County in the vicinity of Rawhide Mine. These claims were either staked by the Company or are under lease option to purchase agreements with Nevada Sunrise LLC and Jeremy C. Wire, as outlined in previous Emgold press releases and below.
David Watkinson, President and CEO of Emgold, stated, "We are very excited about this new acquisition, especially given its vicinity to our Buckskin Rawhide Project, the Rawhide Mine, and Regent Property. We believe it has similar potential to Buckskin Rawhide, where we have identified both high grade vein mineralization and low grade bulk disseminated mineralization. In the event of a discovery, the Koegel Rawhide Property could be developed as a stand alone project or in conjunction with the other properties in the area. This acquisition continues our objective of acquiring quality projects in Nevada, one of the best mining jurisdictions to work in North America."
Geology and Mineralization of the Koegel Rawhide Property
The Koegel Rawhide Property is situated within the Walker Lane structural zone and gold belt of western Nevada. The Walker Lane is a regional shear zone of right lateral strike slip faulting and a known gold trend that hosts large and small historic and currently operating gold-silver mines, including mines of the Comstock Lode, Tonopah Mining District and Rawhide Mining District. The geology and mineralization on the Property are associated with lithologic units and structures of the Rawhide volcanic center, as well as structures from the Walker Lane and Basin and Range.
Geologic mapping by Charles P. Watson, a consulting geologist, in the years 1991-1992, indicates the Property is covered mostly by Tertiary (Pliocene) age intermediate volcanic rocks including andesitic tuff breccias, sills and dikes. The volcanic units have been folded into minor anticlines and faulted. Faults of several orientations occur on the Property with north, northwest and northeast trends. Hydrothermal alteration (clay and silica) is present and is associated with structures and mineralization.
Gold and silver mineralization is present at Koegel Rawhide, based on historic randomly spaced surface sampling. A total of 464 samples were taken in geologically derived locations by consulting geologist Charles P. Watson in the years 1991-1992. The results of the historic grab samples ranged from non-detectable to 2 ounces per ton gold, and from non-detectable to 11 ounces per ton silver. The methods and quality control from the historic sampling are unknown and cannot be verified under NI 43-101, but the results are considered reliable for exploration purposes.
Details of the Lease Option and Purchase Agreement
The Keogel Rawhide Property consists of 19 unpatented mineral lode claims totaling 380 acres, under the jurisdiction of the BLM. The claims are under a lease and option to purchase agreement dated January 24, 2012 to acquire 100% of the claims from Jeremy C. Wire, who is the registered owner of the claims.
Emgold has agreed to lease the property from Mr. Wire, subject to the following payments:
Table 1
Property Payments
---------------------------------------------------------------------------
Year Payment
----------------------------------------------------------------------------
2012 US$10,000 (1)
----------------------------------------------------------------------------
2013 US$10,000 (2)
----------------------------------------------------------------------------
2014 US$10,000 (2)
----------------------------------------------------------------------------
2015 US$20,000 (3)
----------------------------------------------------------------------------
2016 US$30,000 (3)
----------------------------------------------------------------------------
2017 US$30,000 (3)
----------------------------------------------------------------------------
2018 US$60,000 (3)
----------------------------------------------------------------------------
Notes:
(1) An initial lease payment paid 50% in cash and 50% in Emgold common shares.
(2) Lease payments may be paid in cash or Emgold common shares, at
the discretion of Emgold.
(3) Lease payments may be paid in cash or Emgold common shares, at the discretion of the Lessor. Shares will be issued at "market value" which means the volume weighted closing price of the shares on the TSX Venture Exchange or the most senior stock exchange or quotation system on which the shares are then listed or quoted for fifteen (15) trading days ending on the date that is five (5) business days before the applicable payment.
During the lease period, Emgold may conduct exploration and, if warranted, complete a NI 43-101 Technical Report on the Property. On making the above payments and completion of the Technical Report, Emgold will acquire 100% ownership of the property. In the event that commercial production occurs, Mr. Wire will be entitled to a two percent Net Smelter Royalty on production from the property. Emgold will retain the right to purchase this royalty for $1 million, less any payments already made.
Information Regarding Emgold
Emgold is currently in the advanced stage of permitting the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Mine was once the second largest underground gold mine in California and is reported to have produced 2.4 million ounces of gold at an average recovered grade of 0.43 ounce per ton. Emgold has a number of earlier stage exploration properties including the Buckskin Rawhide Property in Nevada, and the Stewart Property and the Rozan Property in British Columbia.
For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com. Company filings are available at www.sedar.com.
The scientific or technical information contained in this news release has been reviewed and approved by Mr. Robert Pease, P.Geo., Chief Geologist of the Company, a Qualified Person as defined in National Instrument 43-101.
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This release was prepared by the Company's management. This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the Company's planned work programs, expected results and potential mineralization and resources on the Koegel Rawhide Property. Forward-looking statements are based on certain assumptions of the Company, including that the Company has adequate capital to fund its proposed exploration programs, that actual results of exploration and development activities are consistent with management's expectations, that assumptions relating to mineral resource estimates are accurate, the assumption that metal prices remain at current values, and that the Company is able to procure equipment and supplies for its planned work programs 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 exploration results that are different than those anticipated, inability to raise or otherwise security capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, development and mining operations, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. 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. 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.
U.S. 20-F Registration: 000-51411
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.
Contacts:
Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
604-687-4622 or Toll Free: 1-888-267-1400
info@emgold.com
www.emgold.com
SOURCE: Emgold Mining Corporation
mailto:info@emgold.com
http://www.emgold.com
sumisu
13 years ago
Emgold Announces Successful Results from Its 2011 Core Drilling Program Stewart Property, B.C.
Marketwire via Comtex
http://finance.yahoo.com/news/Emgold-Announces-Successful-ccn-845712136.html?x=0
Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) ("Emgold" or the "Company") is pleased to announce that it has completed the 2011 field exploration program ("2011 Program") for its Stewart Property, located near Salmo, British Columbia. The focus of the 2011 Program was to further delineate a molybdenum exploration target, the Stewart Moly Zone, which has been indentified from historic drilling on the property and from subsequent drilling by Emgold.
The 2011 Program consisted of 19 drill holes totaling 2,526 metres. Both high and low grade molybdenum mineralization was encountered in drilling, as well as other metals including gold. Emgold has also identified the presence of rhenium, one of the rarest elements in the Earth's crust. Rhenium is used as a catalyst in the production of lead-free, high-octane gasoline. It is also used in alloys for jet engines and in tungsten and molybdenum based alloys. Both gold and rhenium have potential to be important byproduct metals within the deposit if found in sufficient quantities.
Highlights of the 2011 Program include:
-- drill hole 11SM06 returned 58.65 metres averaging 0.198% MoS2, with 0.58% MoS2 over 0.9 metres;
-- drill hole 11SM07 returned 4.92 metres averaging 0.233% MoS2,with 0.98% MoS2 over 0.6 metres;
-- drill hole 11SM12 returned 9.25 metres averaging 1.94% MoS2;
-- drill hole 11SM17 returned 1.03 metres of 0.98% MoS2; and
-- drill hole 11SM18 returned 1.87 metres of 0.56% MoS2.
In addition to molybdenum, gold was also encountered including,
-- drill hole 11SM01 returned 1.56 meters of 1.15 grams per tonne gold;
-- drill hole 11SM05 returned 2.50 meters of 1.17 grams per tonne gold and 1.5 meters of 3.93 gram per ton gold;
-- Drill hole 11SM08 returned 1.34 meters of 1.27 grams per tonne gold;
-- Drill hole 11SM10 returned 1.82 meters of 1.65 grams per tonne gold;
-- Drill hole 11SM12 returned 0.21 meters of 7.09 grams per tonne gold; and
-- Drill hole 11SM14 returned 1.30 meters of 1.65 grams per tonne gold.
Elevated values for rhenium returned from the 2011 core samples were, in most instances, closely related to areas of elevated molybdenum. Significant rhenium intersections include:
-- Hole 11SM06 where elevated Re values were returned from 14.02 metres depth down to 191.1 metres in the drill hole, with up to 1,653 ppb over 1.61 metres; and
-- Hole 11SM17 returned the highest Re value of 2,204 ppb over 1.03 metres within a string of elevated values from 163.17 to 186.2 metres depth down the hole.
Details of the drill holes, including mineralization intercepts, are set forth in Table 1 below and Table 2 attached to this news release.
Historic Exploration of the Stewart Moly Zone by Emgold and Others
The Stewart Property (the "Property"), located in the Nelson Mining District, is an attractive poly-metallic exploration property. It contains a variety of styles and types of mineralization, with targets identified in different areas within the Property. Targets include the Stewart Moly Zone, Arrow Tungsten Zone, Craigtown Gold Zone, and Free Silver Zone. The Property consists of 28 contiguous mineral tenures (claims) covering 5,789 hectares, all of which are 100% owned by Emgold.
Previous exploration of the Stewart Moly Zone has included geological mapping, soil and rock geochemistry, geophysics, trenching and drilling. The most extensive of those historic programs was conducted by Shell Canada Resources in 1980-1981 and Selco Inc., a division of BP Exploration Canada Limited, in 1983. The two companies were searching primarily for molybdenum and drilled 23 holes in the area (Sources: Turner, G.W., Assessment Report 7722, 1980; Turner, G.W., Assessment Report 10072, 1981; and Carpenter, T., Assessment Report 12,251, 1983 - reports available at B.C. Ministry of Mines ARIS website).
In 1980 Shell drilled three diamond drill holes and in 1981 another 16 diamond drill holes and defined a narrow, steep dipping podiform breccia zone based on four of those holes. Historic information available from the Shell program includes assessment and project reports, drill logs, assay laboratory reports and summaries of the sampling and assaying procedures.
Selco Inc. conducted extensive exploration on the property for metals, primarily molybdenum, between 1982 and 1984. In 1982 Selco did airborne EM and magnetics surveys and rock chip sampling, and in 1983 they continued with geological evaluations, further geochemical sampling, ground geophysics and drilling. Much of their work was on the Stewart Moly Zone.
Emgold acquired the Stewart Property in 2001 and continued evaluation of the Stewart Moly Zone in 2005 and 2007. Geochemical sampling, geophysics, trenching, and drilling programs were completed to check historic work and further assess the strong molybdenum and other mineralization in the area. The Company drilled eight holes in the area, two of which were twin holes adjacent to historic drilling. The results of the twin holes compared favorably to the original Shell drill holes (see Emgold's Nov. 28 and 29, 2005 and Nov. 28, 2007 press releases).
2011 Program Results for the Stewart Moly Zone by Emgold
The 2011 Program focused solely on the Stewart Moly Zone and drilling intersected granitic rocks along a contact with altered sediments. Molybdenite mineralization was encountered within brecciated granite and sediments with strong silicification and potassic alteration. The drill program was successful at further delineating the extents and content of the molybdenum mineralized body. The location, orientation, depth, and significant results from the 19 holes drilled in the 2011 Program are outlined in Tables 1 and 2.
All of the 2011 core drilling was conducted within an approximate 120 metre strike length along the mineralized structure of the Stewart Moly Zone. The drill hole locations and orientations are provided in the Table 1 below:
Table 1
2011 Drill Hole Location, Orientation and Depth
----------------------------------------------------------------------------
UTM UTM Elevation Depth Depth
Hole_id E N m Azimuth Dip ft m
----------------------------------------------------------------------------
11SM01 480750 5458840 1622 16 -45 726 221.28
----------------------------------------------------------------------------
11SM02 480750 5458840 1622 105 -45 206 62.79
----------------------------------------------------------------------------
11SM03 480750 5458840 1622 285 -45 206 62.79
----------------------------------------------------------------------------
11SM04 480773 5458918 1611 0 -90 508 154.84
----------------------------------------------------------------------------
11SM05 480760 5458910 1608 0 -90 367 111.86
----------------------------------------------------------------------------
11SM06 480766 5458900 1613 55 -64 756 230.43
----------------------------------------------------------------------------
11SM07 480762 5458900 1613 0 -90 497 151.49
----------------------------------------------------------------------------
11SM08 480755 5458884 1604 0 -90 297 90.53
----------------------------------------------------------------------------
11SM09 480726 5458886 1601 0 -90 287 87.48
----------------------------------------------------------------------------
11SM10 480720 5458900 1597 103 -70 384 117.04
----------------------------------------------------------------------------
11SM11 480720 5458900 1597 0 -90 407 124.05
----------------------------------------------------------------------------
11SM12 480721 5458910 1601 68 -64 456 138.99
----------------------------------------------------------------------------
11SM13 480756 5458932 1600 140 -70 467 145.39
----------------------------------------------------------------------------
11SM14 480760 5458951 1596 144 -65 384 117.96
----------------------------------------------------------------------------
11SM15 480795 5458970 1598 204 -65 367 111.86
----------------------------------------------------------------------------
11SM16 480800 5458968 1602 0 -90 337 102.72
----------------------------------------------------------------------------
11SM17 480794 5458951 1601 0 -90 646 196.9
----------------------------------------------------------------------------
11SM18 480800 5458936 1597 0 -90 668 203.61
----------------------------------------------------------------------------
11SM19 480815 5458950 1594 0 -90 307 93.57
----------------------------------------------------------------------------
Mineralized drill hole intercepts are summarized in Table 2, attached to this release. The results show intercepts of high and low grade molybdenum mineralization, as well as the presence of gold and rhenium.
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. 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. He is 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. 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 Stewart Property that could materially affect the accuracy or reliability of Emgold's sample data. All assay results to date have now been tabulated and reviewed.
Analysis of the Results
The Stewart Moly Zone is currently interpreted to be a breccia pipe, as previously interpreted from geologic modeling using MineSight(R) software. It is a mineralized block with variable shape. The mineralization is closely associated with a breccia structure with apparent length of approximately 200 metres and variable widths up to 80 metres. The true width is not known. It is exposed at ground surface, and historic drilling indicates depths of 150 metres to date. Potential exists to expand the mineralized zone in several directions and at depth.
The current density of drilling along the mineralized breccia body will now allow for 3-dimensional modeling to further assess the resource potential, as well as delineating areas that may indicate further extents to the mineralization. Emgold is currently focused on completing drill hole compilation and modeling with the objective of ultimately defining an NI 43-101 compliant molybdenum resource in the Stewart Moly Zone. Other potential accessory metals such as gold and rhenium will be modeled as part of this work.
Nickel based super-alloys, for use in jet engines, contain up to 6 percent rhenium, making jet engine construction the largest use for the element, with chemical industry catalytic uses being the next most important. It is widely used as filaments for mass spectrographs. Rhenium is also used as an electrical contact material. Because of low availability relative to demand, rhenium is among the most expensive industrial metals. The average rhenium North American Spot Metal Price (99.9% Re) on January 1, 2012 was US$4,359.64 per kilogram (source www.metalprices.com).
Drilling to date indicates the potential to define a resource that may be recovered by open pit and underground mining extraction. Future exploration at Stewart may consider exploration for other possible breccia pipes in the area, as breccia pipes can often occur in clusters. Potential also exists for a mineralized porphyry system at depth. Exploration may also consider gold and silver targets that have been previously identified on the Property.
Emgold is in the process of completing an Assessment Report for the 2011 Program. Emgold will then develop a plan and budget for its 2012 exploration program at Stewart. In December 2011, Emgold raised CDN$767,750 of flow through funds for exploration on its B.C. properties, Stewart and Rozan, in 2012.
David Watkinson, President and CEO of Emgold, stated, "The Stewart Property represents a highly prospective exploration property with a variety of exciting targets. Emgold is currently focused on completing core drilling with the ultimate objective of defining an NI 43-101 compliant molybdenum resource in the Stewart Moly Zone to improve the value of the property. There are other gold and silver targets that also require additional exploration to assess their potential."
Information in this news release that is of a scientific or technical nature was prepared by or under the supervision of, and approved by, Perry Grunenberg, P.Geo, an independent consultant to the Company. He is a Qualified Person as defined in National Instrument 43-101 and supervised the 2011 Program.
For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This release was prepared by the Company's management.
This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the Company's planned work programs, expected results and potential mineralization and resources on the Stewart Property. Forward-looking statements are based on certain assumptions of the Company, including that the Company has adequate capital to fund its proposed exploration programs, that actual results of exploration and development activities are consistent with management's expectations, that assumptions relating to mineral resource estimates are accurate, the assumption that metal prices remain at current values, and that the Company is able to procure equipment and supplies for its planned work programs 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 exploration results that are different than those anticipated, inability to raise or otherwise security capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, development and mining operations, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. 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. 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.
Table 2
Results, 2011 Drill Program, Stewart Moly Zone
----------------------------------------------------------------------------
Hole From To Intercept MoS2 Mo Au Re
Number (m) (m) Width(i) (m) (ii) (%) (%) ppb ppb
----------------------------------------------------------------------------
11SM01 16.13 17.68 1.55 804
----------------------------------------------------------------------------
21.50 22.65 1.15 502
----------------------------------------------------------------------------
81.30 82.68 1.38 0.0810 0.049
----------------------------------------------------------------------------
129.84 131.40 1.56 1,148.5
----------------------------------------------------------------------------
201.40 202.40 1.00 620.2
----------------------------------------------------------------------------
11SM02 No Significant Values
----------------------------------------------------------------------------
11SM03 29.80 32.31 2.51 530.2
----------------------------------------------------------------------------
44.50 47.55 3.05 0.0284 0.017
----------------------------------------------------------------------------
11SM04 3.80 5.49 1.69 0.0984 0.059
----------------------------------------------------------------------------
5.49 6.96 1.47 0.0867 0.052
----------------------------------------------------------------------------
16.13 17.68 1.55 0.3069 0.184
----------------------------------------------------------------------------
19.35 20.57 1.22 0.1151 0.069
----------------------------------------------------------------------------
21.50 22.65 1.15 0.1451 0.087
----------------------------------------------------------------------------
29.00 32.02 3.02 0.0567 0.034
----------------------------------------------------------------------------
11SM05 1.51 4.10 2.59 0.0601 0.0360
----------------------------------------------------------------------------
8.23 12.62 4.39 0.1220 0.073
----------------------------------------------------------------------------
including 8.23 9.2 0.97 0.2302 0.138 816
----------------------------------------------------------------------------
and 9.20 11.27 2.07 0.0684 0.041
----------------------------------------------------------------------------
and 11.27 12.62 1.35 0.1268 0.076 505
----------------------------------------------------------------------------
23.47 24.85 1.38 0.1635 0.098
----------------------------------------------------------------------------
32.50 35.00 2.50 1,170.9
----------------------------------------------------------------------------
35.00 36.50 1.50 3,935.5
----------------------------------------------------------------------------
11SM06 14.02 15.50 1.48 0.3086 0.185 1,060
----------------------------------------------------------------------------
31.10 32.61 1.51 0.2419 0.145 780
----------------------------------------------------------------------------
47.25 105.90 58.65 0.1980 0.119
----------------------------------------------------------------------------
including 47.25 48.36 1.11 0.1435 0.086
----------------------------------------------------------------------------
and 48.36 50.60 2.24 0.1618 0.097 540
----------------------------------------------------------------------------
and 50.60 53.64 3.04 0.1985 0.119 623
----------------------------------------------------------------------------
and 54.97 56.69 1.72 0.1151 0.069
----------------------------------------------------------------------------
and 56.69 59.74 3.05 0.1635 0.098
----------------------------------------------------------------------------
and 59.74 61.00 1.26 0.1918 0.115 586
----------------------------------------------------------------------------
and 61.00 62.79 1.79 0.4404 0.264 1,031
----------------------------------------------------------------------------
and 62.79 65.84 3.05 0.1685 0.101
----------------------------------------------------------------------------
and 65.84 67.90 2.06 0.1234 0.074
----------------------------------------------------------------------------
and 67.90 69.60 1.70 0.2035 0.122 526
----------------------------------------------------------------------------
and 71.80 72.87 1.07 0.1668 0.100
----------------------------------------------------------------------------
and 72.87 74.98 2.11 0.2319 0.139 662
----------------------------------------------------------------------------
and 74.98 77.05 2.07 0.4971 0.298 1,160
----------------------------------------------------------------------------
and 77.05 78.50 1.45 0.0367 0.022
----------------------------------------------------------------------------
and 78.50 80.00 1.50 0.2652 0.159 781
----------------------------------------------------------------------------
and 80.00 81.50 1.50 0.2936 0.176 870
----------------------------------------------------------------------------
and 81.50 83.90 2.40 0.5038 0.302 1,240
----------------------------------------------------------------------------
and 83.90 85.07 1.17 0.2469 0.148 698
----------------------------------------------------------------------------
and 85.07 86.85 1.78 0.2969 0.178 879
----------------------------------------------------------------------------
and 86.85 88.00 1.15 0.0767 0.046
----------------------------------------------------------------------------
and 88.00 89.50 1.50 0.0951 0.057
----------------------------------------------------------------------------
and 89.50 91.50 2.00 0.1084 0.065
----------------------------------------------------------------------------
and 91.50 93.50 2.00 0.0601 0.036
----------------------------------------------------------------------------
and 93.50 95.50 2.00 0.0834 0.050
----------------------------------------------------------------------------
and 95.50 97.05 1.55 0.2902 0.174 868
----------------------------------------------------------------------------
and 97.05 98.80 1.75 0.0550 0.033
----------------------------------------------------------------------------
and 98.80 100.80 2.00 0.0934 0.056
----------------------------------------------------------------------------
and 100.80 101.90 1.10 0.1518 0.091
----------------------------------------------------------------------------
and 101.90 103.00 1.10 0.1418 0.085
----------------------------------------------------------------------------
and 103.00 103.90 0.90 0.5822 0.349 1,418
----------------------------------------------------------------------------
and 103.90 105.90 2.00 0.2285 0.137 791
----------------------------------------------------------------------------
187.76 189.49 1.73 537
----------------------------------------------------------------------------
189.49 191.10 1.61 1,653
----------------------------------------------------------------------------
11SM07 1.83 3.33 1.50 0.3153 0.189 1,009
----------------------------------------------------------------------------
3.33 5.18 1.85 0.1451 0.087
----------------------------------------------------------------------------
6.68 8.23 1.55 0.1368 0.082
----------------------------------------------------------------------------
17.67 20.42 4.92 0.2330 0.139
----------------------------------------------------------------------------
including 17.67 18.27 0.6 0.9792 0.587 1,751
----------------------------------------------------------------------------
and 18.27 19.4 1.13 0.1535 0.092
----------------------------------------------------------------------------
and 19.4 20.42 1.02 0.34200 0.205 735
----------------------------------------------------------------------------
46.65 48.65 2.00 0.2235 0.134 702
----------------------------------------------------------------------------
11SM08 34.32 35.66 1.34 1,269.8
----------------------------------------------------------------------------
57 58 1.00 0.1268 0.076
----------------------------------------------------------------------------
11SM09 No Significant Values
----------------------------------------------------------------------------
11SM10 12.8 14.62 1.82 1,649.7
----------------------------------------------------------------------------
50.9 52.17 1.27 0.1301 0.078
----------------------------------------------------------------------------
11SM11 66.14 69.19 3.05 350.2
----------------------------------------------------------------------------
81.38 84.43 3.05 380.9
----------------------------------------------------------------------------
84.43 87.48 3.05 226.7
----------------------------------------------------------------------------
11SM12 6.92 8.45 1.53 0.2552 0.153 605
----------------------------------------------------------------------------
8.45 10.97 2.52 0.1385 0.083
----------------------------------------------------------------------------
17.07 18.57 1.50 0.2352 0.141 609
----------------------------------------------------------------------------
20.12 21.62 1.50 0.1852 0.111
----------------------------------------------------------------------------
29.26 32.31 3.05 0.1401 0.084
----------------------------------------------------------------------------
39.9 41.45 1.55 0.1885 0.113
----------------------------------------------------------------------------
42.87 52.12 9.25 0.1940 0.116
----------------------------------------------------------------------------
including 42.87 44.5 1.63 0.3036 0.182 greater
than
1,000
----------------------------------------------------------------------------
and 44.5 46 1.50 0.1535 0.092
----------------------------------------------------------------------------
and 46 47.55 1.55 0.1701 0.102
----------------------------------------------------------------------------
and 47.55 50.6 3.05 0.2068 0.124 538
----------------------------------------------------------------------------
and 50.6 52.12 1.52 0.1151 0.069
----------------------------------------------------------------------------
132.76 132.97 0.21 7,094.9
----------------------------------------------------------------------------
11SM13 22.06 23.47 1.41 789
----------------------------------------------------------------------------
11SM14 43.3 44.5 1.20 0.4087 0.245 1,412
----------------------------------------------------------------------------
69.19 70.7 1.51 0.1785 0.107
----------------------------------------------------------------------------
70.7 72.24 1.54 0.3119 0.187 861
----------------------------------------------------------------------------
69.19 70.7 1.51 0.1785 0.107
----------------------------------------------------------------------------
76.3 77.6 1.30 1,646.7
----------------------------------------------------------------------------
114.5 115.95 1.45 0.1435 0.086
----------------------------------------------------------------------------
11SM15 65.44 66.74 1.30 0.1802 0.108 688
----------------------------------------------------------------------------
72.24 73.45 1.21 0.2636 0.158 723
----------------------------------------------------------------------------
92.57 93.57 1.00 393.4
----------------------------------------------------------------------------
97.8 100.1 2.30 0.1585 0.095
----------------------------------------------------------------------------
11SM16 No Significant Values
----------------------------------------------------------------------------
11SM17 154.6 155.87 1.27 0.1401 0.084
----------------------------------------------------------------------------
160.32 163.17 2.85 0.1701 0.102
----------------------------------------------------------------------------
163.17 164.2 1.03 0.9825 0.589 2,204
----------------------------------------------------------------------------
167 169.58 2.58 0.2252 0.135 558
----------------------------------------------------------------------------
169.58 171.00 1.42 0.1334 0.080
----------------------------------------------------------------------------
171.00 172.52 1.52 596
----------------------------------------------------------------------------
172.52 174.06 1.54 730
----------------------------------------------------------------------------
174.06 176.2 2.14 0.1568 0.094
----------------------------------------------------------------------------
177.2 178.61 1.41 0.4871 0.292 1,197
----------------------------------------------------------------------------
178.61 180.1 1.49 0.1351 0.081
----------------------------------------------------------------------------
184.71 186.2 1.49 0.2319 0.139 500
----------------------------------------------------------------------------
11SM18 29.4 31.27 1.87 0.5605 0.336 1,566
----------------------------------------------------------------------------
56.5 57.9 1.40 0.2402 0.144 644
----------------------------------------------------------------------------
75.59 77.04 1.45 0.2552 0.153 618
----------------------------------------------------------------------------
90.94 91.94 1.00 0.1418 0.085
----------------------------------------------------------------------------
11SM19 No Significant Values
----------------------------------------------------------------------------
(i) true width of intercept unknown due to variable nature of brecciated
host
(ii) conversion Mo to MoS2 multiply by 1.6681
U.S. 20-F Registration: 000-51411
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.
Contacts:
Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
604-687-4622 or Toll Free: 1-888-267-1400
info@emgold.com
http://www.emgold.com
SOURCE: Emgold Mining Corporation
mailto:info@emgold.com
http://www.emgold.com
sumisu
13 years ago
Emgold Updates Gold Exploration Activities at its Buckskin Rawhide Property, Nevada
Marketwire via Comtex
Press Release: Emgold Mining Corporation – Mon, Jan 30, 2012 9:00 AM EST
Emgold Mining Corporation (TSX VENTURE: EMR)(OTCBB: EGMCF)(FRANKFURT: EML) ("Emgold" or the "Company") is pleased to provide an update of its surface exploration activities at the Buckskin Rawhide Property (the "Property"), located about 40 miles south of Fallon, Nevada. Since acquiring the Property, Emgold has made two important discoveries: the Black Eagle High Grade Vein Target and the Chicago Mountain Bulk Disseminated Target.
Results of recent surface mapping and rock chip sampling show:
-- the Black Eagle Fault (which contains the Black Eagle High Grade Vein Target) has potential for additional high grade vein and bulk disseminated gold and silver mineralization;
-- a new fault has been discovered and sampled which also shows potential for both high grade vein and bulk disseminated gold and silver targets associated with this fault; and
-- additional rock chip sampling confirms historic sampling results for the Chicago Mountain Bulk Disseminated Target.
The Buckskin Rawhide Property is comprised of 52 unpatented claims totaling 1,040 acres, of which 46 claims are currently under a lease and option to purchase agreement with Nevada Sunrise LLC, a private company. Six additional claims were staked by Emgold. The Property is located in the Rawhide Mining District and is situated adjacent to Pilot Gold Inc.'s Regent gold-silver property and to Rawhide Mining Company's Rawhide Mine.
The Buckskin Rawhide Property is a volcanic-hosted, structurally controlled, epithermal gold-silver prospect in the Walker Lane gold belt of western Nevada. The Walker Lane is a regional shear zone and known gold trend that hosts large and small historic and currently operating gold-silver mines, including mines of the Comstock Lode, Tonopah District and Rawhide District. Buckskin Rawhide geology and mineralization are associated with lithologic units and structures of the Rawhide caldera, as well as structures from the Walker Lane and Basin and Range.
Black Eagle High Grade Vein Target
Kennecott Minerals conducted surface sampling along the Black Eagle Fault, a north-south trending structure situated on the west side of Emgold's claim block, between years 1996 and 2002. Kennecott was exploring for bulk disseminated gold deposits similar to the one found at the adjacent Denton Rawhide Mine (now called the Rawhide Mine), which was being operated by Kennecott Rawhide Mining Company at that time. They assayed a total of 125 rock chip and grab samples over a strike length of 5,700 feet in the area of Black Eagle Fault. The average grade of those samples was 0.031 ounces per ton gold. Kennecott also drilled 36 reverse circulation holes in the area along the Fault, with 20 of those holes showing gold anomalies greater than 0.005 ounces per ton. However, Kennecott was not looking for high grade gold associated with the Black Eagle Fault. The methods and quality control from Kennecott's historic sampling are unknown and cannot be verified under NI 43-101, and should not be relied upon for investment purposes, but the results are useful guides for further exploration.
Prior to acquiring the Property, Emgold's geologists recognized the potential for high grade vein targets along the Black Eagle Fault, in addition to the potential for bulk disseminated gold targets. Surface sampling of that structure by Emgold resulted in the discovery of high-grade gold-silver mineralization that has been designated the Black Eagle High Grade Vein Target. This Target was identified by rock chip sampling with gold grades ranging from non-detectable to 9.00 ounces per ton gold and from non-detectable to 17.58 ounces per ton silver (see Emgold's January 12 and April 20, 2011 press releases) and is interpreted to be a steep-dipping mineralized shoot. The Black Eagle High Grade Vein Target, which consists of fault gouge, quartz veins, and silicified wall rocks overprinted with iron-manganese oxides, is 360 feet in strike length and open to extension. Potential exists for other high grade shoots along the Black Eagle Fault and within other faults on the Property.
Emgold's continuing exploration of the Black Eagle Fault involved detailed rock sampling and geologic mapping of new structures and extensions of previously mapped faults and veins. Results were positive, with anomalous gold values ranging from non-detectable up to 0.034 ounces per ton and silver values ranging from 0.031 ounces per ton to 12.3 ounce per ton in 6 and 12-inch channel samples of bedrock, structures, and one grab sample from a historic mine dump. Dry sample weights varied from one to two pounds.
Forty-four additional rock chip samples were taken by Emgold to further explore the Black Eagle Fault, for a total of 108 surface samples to date, as shown in Table 1. These include 101 surface rock chip samples of bedrock and structures, and seven grab samples of historic mine dumps. To date, the total length of the Black Eagle area sampled to date is 6,000 feet.
Table 1
Comparison of Historic and Emgold Surface Gold Assays in Mineralized Zone Black Eagle Fault, Buckskin Rawhide Property, NV
----------------------------------------------------------------------------
Company (Date of Work) No. of Samples Average Gold Grade (opt)(i)
----------------------------------------------------------------------------
Kennecott (2000-2002) 125 0.031
----------------------------------------------------------------------------
Emgold (2011) 108 0.275
----------------------------------------------------------------------------
(i) Gold grades are arithmetic averages
Acomparison of the average Kennecott sample grades to Emgold's samples on the Black Eagle Fault, shown in Table 1, indicates that the samples taken by Emgold are much higher grade than the historic samples. The higher grade has been identified because Emgold sampled rocks exposed primarily on and adjacent to the high grade zone, while Kennecott analyzed the targets in the vicinity of that structure, looking for bulk disseminated mineralization. The data indicate the potential for discovery of both types of mineralization. The methods and quality control from the historic sampling are unknown and cannot be verified under NI 43-101. Confirmation drilling will need to be completed to confirm the reliability of historic data.
Emgold's most recent geologic mapping of the area near the Black Eagle Fault also resulted in the discovery of a new fault. Eight channel samples, each 12-inches in length, of bedrock and structures taken at and near the new fault showed low grade anomalous gold mineralization, with values ranging from less than 0.001 to 0.019 ounces per ton gold. Silver values ranged from 0.049 to 2.73 ounces per ton. The Black Eagle High Grade Vein Target was previously disclosed by Emgold in news releases of January 12 and April 20, 2011.
Chicago Mountain Bulk Disseminated Target
Geologic mapping and surface sampling, conducted by Emgold at Buckskin Rawhide, also continued on the eastern half of the Buckskin Rawhide claim block in the Chicago Mountain Bulk Disseminated Target where the Company previously discovered a low grade bulk disseminated gold exploration target that is exposed at surface (see Emgold news release dated October 4, 2011). Nine additional rock chip samples were taken as further confirmation sampling of historic sampling, for a total of 15 Emgold rock chip samples to date. Results are summarized in Table 2 below. Total samples taken in this mineralized zone, including historic samples, is now 120.
The Chicago Mountain Bulk Disseminated Target is an area approximately 4,000 feet in length and 400 feet in width situated on the eastern half of the Buckskin Rawhide claim block, with gold mineralization at the surface. Several companies conducted reconnaissance exploration programs in this area between the years 1996 and 2002. Of the 416 surface samples taken of rock outcrops in the area between Buckskin Mountain and Chicago Mountain, 105 samples defined an anomalous northwest-trending mineralized zone with grades ranging from 0.003 ounce per ton gold to higher grades of over 0.06 ounces per ton gold in the center of the zone. The methods and quality control from the historic sampling are unknown and cannot be verified under NI 43-101. However confirmation sampling by Emgold to date confirms the historic values, as shown in Table 2 below.
Table 2
Comparison of Historic Surface Gold Assays in Mineralized Zone Chicago Mountain Area, Buckskin Rawhide Property, NV
----------------------------------------------------------------------------
Company (Date of Work) No. of Samples Average Gold Grade (opt)
----------------------------------------------------------------------------
Cordex (1996) 10 0.019
----------------------------------------------------------------------------
International (1997) 45 0.014
----------------------------------------------------------------------------
Kennecott (2000-2002) 50 0.068
----------------------------------------------------------------------------
Overall Average 105 0.040
----------------------------------------------------------------------------
Emgold (2011) 15 0.020
----------------------------------------------------------------------------
Gold grades are arithmetic averages
Kennecott Minerals also conducted reverse circulation drilling during that period of time, with results indicating the presence of gold mineralization from the surface to depths of 165 feet. The methods and quality control from the historic sampling are unknown and cannot be verified under NI 43-101. Confirmation drilling will need to be completed to confirm the reliability of historic data.
Note that sample results on the Buckskin Rawhide Property are preliminary in nature and are not conclusive evidence of the likelihood of the occurrence of a mineral deposit. However, the results do justify further exploration of the Property, including additional mapping and sampling. In addition, core and reverse circulation drilling for both the Black Eagle High Grade Vein Target and Chicago Mountain Bulk Disseminated Target is recommended. Emgold is currently developing plans and budgets for this work, as well as permitting this activity.
Emgold's Quality Assurance and Quality Control Program
Emgold's quality assurance program and quality control measures at Buckskin Rawhide were described in the press release dated October 4, 2011 and pertain to all samples taken on the property. Quality control measures started with representative sampling, proper numbering, and accurately locating samples in the field both visually on maps and also with a GPS instrument. Samples were transported by the geological staff from the field to Emgold's office-warehouse facility to assure secure storage, and were then packaged for shipment to the assay laboratory. Samples were shipped via commercial carriers directly to American Assay Laboratories in Sparks, Nevada, for analysis. All dry sample weights varied from one to two pounds.
Emgold's Qualified Person visited American Assay Laboratories in February 2011 to review the general sample handling and preparation measures, and felt they were adequate. The assay laboratory catalogued all samples, maintained complete chain of custody throughout the analytical process, and electronically mailed the chain of custody forms to Emgold for review prior to initiating sample preparation. All sample preparation was done at the laboratory by their staff. 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 have been encountered in sampling programs conducted by Emgold on the Buckskin Rawhide property that would materially affect the accuracy or reliability of Emgold's sample data.
American Assay Laboratories, Inc. of Sparks, Nevada, an independent and properly certified laboratory, conducted the laboratory analyses of Emgold's samples. Samples taken by Emgold were analyzed using standard fire assaying and ICP methods. Mr. Robert Pease, Chief Geologist of the Company and a Qualified Person as defined in National Instrument 43-101, participated in and directly supervised the sampling program and interpreted historic data. He has read and approved the scientific and technical information in this press release.
Emgold's President, Dave Watkinson, stated, "The results continue to indicate the potential for both high grade vein target and low grade bulk disseminated target discoveries on the Buckskin Rawhide Property. Additional exploration is warranted. The exploration potential, along with the property's unique strategic position, makes this an asset with increasing opportunity for the Company."
To view the Figure associated with this release, visit http://media3.marketwire.com/docs/emr130_F1.pdf.
Information Regarding Emgold
Emgold is currently in the advanced stage of permitting the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Mine was once the second largest underground gold mine in California and is reported to have produced 2.4 million ounces of gold at an average recovered grade of 0.43 ounce per ton. Emgold has a number of earlier stage exploration properties including the Buckskin Rawhide Property in Nevada, the Stewart Property and the Rozan Property in British Columbia. For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com. Company filings are available at www.sedar.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This release was prepared by the Company's management.
This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the Company's planned work programs, expected results and potential mineralization and resources on the Buckskin Rawhide Property. Forward-looking statements are based on certain assumptions of the Company, including that the Company has adequate capital to fund its proposed exploration programs, that actual results of exploration and development activities are consistent with management's expectations, that assumptions relating to mineral resource estimates are accurate, the assumption that metal prices remain at current values, and that the Company is able to procure equipment and supplies for its planned work programs 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 exploration results that are different than those anticipated, inability to raise or otherwise security capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, development and mining operations, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. 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. 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.
U.S. 20-F Registration: 000-51411
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.
Contacts:
Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
604-687-4622 or Toll Free: 1-888-267-1400
info@emgold.com
http://www.emgold.com
SOURCE: Emgold Mining Corporation
mailto:info@emgold.com
http://www.emgold.com
sumisu
13 years ago
Emgold Announces Successful Results; 2011 Exploration Program; Rozan Property, B.C.
http://finance.yahoo.com/news/Emgold-Announces-Successful-ccn-2298388980.html?x=0
Press Release: Emgold Mining Corporation – Wed, Jan 25, 2012 9:00
VANCOUVER, BRITISH COLUMBIA--(Marketwire -01/25/12)- Emgold Mining Corporation (TSX-V: EMR.V - News)(Pinksheets: EGMCF.PK - News)(Frankfurt: EML) ("Emgold" or the "Company") is pleased to announce the successful completion of the 2011 field exploration program ("2011 Program") for its Rozan Property, British Columbia. The Rozan Property is a poly-metallic property located in the Nelson Mining District approximately 10 kilometres southwest of Nelson. William Rozan staked the area in 1928 and operated a small scale high grade gold mining operation on the property until the early 1970's. The Rozan Property consists of 32 mineral claims covering an area of 1,950 hectares.
The Rozan Property is directly south of Valterra Resource Corporation's Star and Toughnut Properties. It is also adjacent to and west of Altair Ventures/Sultan Minerals Kena Property. According to public disclosure by Sultan Minerals, the Kena Property has a reported NI 43-101 compliant gold resource (2004) of 541,000 measured and indicated ounces of gold (24.9 million tonnes at 0.68 gram per tonne gold) and an inferred resource of 557,000 ounces of gold (25.8 million tonnes at 0.67 gram per tonne gold) (see http://www.sedar.com). Note that the presence of the resource on the Kena Property does not imply a similar resource will be delineated on the Rozan Property. However, geological mapping of the Rozan, Star, Toughnut, and Kena properties does show similar geologic structures that overlap on the properties.
The Property is underlain by a sequence of meta-sedimentary and meta-volcanic rocks of the Early Jurassic Archibald and Elise formations, respectively. The units are part of the Rossland Group and are highly prospective for hosting economic mineralization (gold, molybdenum, tungsten, copper, and silver), especially where the rocks are intruded by later Mid-Late Jurassic granite-granodiorite bodies correlative with the Nelson Intrusions. The claims straddle a NW-SE trending package of sheared rocks proximal to the Silver King Shear Zone and cored within the Hall Creek Syncline. Emgold is currently focused on exploring for high-grade gold veins and bulk mineable disseminated gold zones.
Current Status of the Rozan Property
In January of 2010, Valterra Resource Corporation optioned the Rozan property from Emgold. Valterra conducted topographical and geophysical compilation studies, and re-logged, re-sampled and catalogued some of the historic drill core. (Source: Prospecting and Airborne Geophysical Interpretation, Assessment Report 32128, Valterra Resource Corporation, Brian McGrath, March 2011, Report accessible at the B.C. Ministry of Mines ARIS website).
During 2011, Valterra conducted a program of geological mapping (approximately two square kilometres), collecting and analyzing four rock samples and 119 soil samples) during the period September 19 to 24, 2011 (Source: Geological Mapping and Soil Sampling Report, Assessment Report 32592, Valterra Resources Corporation, C. Payne, December 2011, Report being posted pending review, at the B.C. Ministry of Mines ARIS website).
After failing to meet its work commitments on the Rozan Property, Valterra announced on January 5, 2012 that it had elected to terminate the Rozan Property agreement with Emgold to focus on its other projects located in the Salmo-Nelson corridor. Anticipating this, Emgold raised CDN$767,750 in flow through funds in late 2011, as disclosed by previous news releases, and is planning an exploration program and budget for Rozan for 2012, using part of the funds identified above.
2011 Exploration Program at Rozan by Valterra
All previous soil sampling campaigns on the property were digitally compiled into a single database (1,637 samples) and tied to corrected UTM, NAD83 coordinates based on available grid stations identified/found from the old grid. The historic soil geochemical data was scanned and optically recognized using analytical certificates from assessment and company reports.
Geological mapping indicated that the Jurassic aged Nelson Intrusions consisting of granodiorite and porphyritic diorite extend further north than previously thought, expanding the potential for further precious and base mineralization within and adjacent to the intrusives and Elise Formation mafic to intermediate tuffaceous rocks. The mapping also discovered that the Mount Verde fault consists of an approximately 200 metre wide breccia zone with local zones of extensive shearing. Coincident with the Mount Verde fault is spotty but strongly anomalous gold and molybdenum in soils.
Soil sampling was completed to infill a gap in the historic soil sampling coverage and to expand the soil survey to the north. Results of the 2011 soil sampling compiled with previous soil surveys has defined an area 1.8 by 1.6 kilometres in size with several gold anomalies based on a 55 part per billion gold grade contour. The gold in soil anomaly appears to have two preferential orientations being NW-SE and NE-SW. The northwest orientation is related to the contact between Elise Formation tuffaceous rocks to the west and granodiorite to the east. Gold values in soils ranged from 0.300 to 2,625 parts per billion. Mapping was completed for gold, arsenic, molybdenum, iron, tungsten, and manganese. Assaying was done by Acme Labs of Vancouver, an independent laboratory, following standard laboratory procedures, with standard quality control measures.
A total of 10 gold anomalies were identified by Valterra. A NW-SE trending gold soil anomaly (Target A) extends for some 1.8 kilometres and is up to 200 metres wide (true width is unknown). Along the surface trace of the Mount Verde fault there is a strong anomaly (Target B) identified by gold, tungsten, arsenic, and manganese in the soils. The remaining gold soil anomalies are generally NE-SW orientated and are considered related to high grade or sheeted quartz vein gold mineralization (most of which remain unexplained) on the property.
Of the NE 'trends', three Trends C, D and G appear to be the most significant. Trends C and D are two sub-parallel NE trending gold in soil anomalies located within granodiorite and may suggest that the sheeted quartz vein system located at the NE end of the soil anomalies extends some 500 metres further to the SW. Trend G appears to originate at the historic Rozan workings and extends some 450 metres to the SW.
Valterra recommended that additional geological mapping be completed initially on five soil anomalies (A-D and G). They also recommended geological sampling and mapping be extended to the entire property. Targets would be followed up with a core drilling program to explore the extent of mineralization to depth. An Assessment Report, dated December 15, 2011 was filed with the B.C. Ministry of Mines and Energy. The report was completed by Craig W. Payne, P.Geo., an independent consultant to Valterra Minerals and a Qualified Person under National Instrument 43-101.
Historic Exploration Work by Emgold at Rozan
Emgold acquired the Rozan Property in 2000. Exploration by Emgold to date has included geological mapping, geochemical sampling and geophysical surveys along with small drilling programs. Emgold drilled two diamond drill holes totaling 304 metres in 2000. Significant drill results include 1.45 gram per tonne of gold over 4.08 metres in hole RZ00-01 and 60.73 grams per tonne gold of gold over 0.25 metres in hole RZ00-02. A third hole, drilled in 2007, 07RZ-01, failed to intercept the vein (see Emgold press released dated Dec. 4, 2000 and June 11, 2008).
In 2003, Fugro Airborne Surveys Corp. flew 161 line kilometres along NE-SW oriented flight lines utilizing a DIGHEM V EM-MAG geophysical system covering the majority of the Rozan Property. The survey identified 167 anomalies, with 88 being attributed to discrete bedrock sources often indicative of conductive sulphides and several discrete weak conductors were located. In late 2004, Emgold completed a follow-up soil sampling program over the airborne anomalies. A total of 333 soil samples and nine rock samples were collected. Several correlations were discovered between areas of anomalous magnetic and electromagnetic features, areas of mineralized veining and alteration mapped during prospecting and gold-in-soil geochemical anomalies.
Development of the 2012 Exploration Program for Rozan
Emgold is currently reviewing the information from the 2011 Program as well as historic information on the Rozan Property and plans to develop an exploration plan and budget for Rozan, utilizing part of the flow through funds identified above, and complete further exploration in 2012.
David Watkinson, President and CEO of Emgold, stated, "Emgold is excited to get the Rozan Property back and plans to pursue exploration of the gold targets identified by Valterra in its 2011 work. We believe there is excellent potential for discovery."
Information in this news release that is of a scientific or technical nature was prepared by or reviewed (including Valterra information) by Perry Grunenberg, P.Geo, an independent consultant to the Company. He is a Qualified Person as defined in National Instrument 43-101.
For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the Company's planned work programs, expected results and potential mineralization and resources on the Rozan Property. Forward-looking statements are based on certain assumptions of the Company, including that the Company has adequate capital to fund its proposed exploration programs, that actual results of exploration and development activities are consistent with management's expectations, that assumptions relating to mineral resource estimates are accurate, the assumption that metal prices remain at current values, and that the Company is able to procure equipment and supplies for its planned work programs 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 exploration results that are different than those anticipated, inability to raise or otherwise security capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, development and mining operations, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. 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. 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.
U.S. 20-F Registration: 000-51411
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.
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Contact:.
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Emgold Mining Corporation
David G. Watkinson, P.Eng.
President & CEO
604-687-4622 or Toll Free: 1-888-267-1400
NYBob
13 years ago
Emgold Announces Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2011) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Emgold Mining Corporation (the "Company" or "Emgold") (TSX VENTURE:EMR)(OTCBB:EGMCF)(FRANKFURT:EML) is pleased to announce that, subject to TSX Venture Exchange approval, Emgold proposes to carry out a non-brokered private placement of up to 10,000,000 units ("Units") of the Company at CDN$0.10 per Unit to raise up to CDN$1,000,000. Each Unit will consist of one common share (a "Share") of the Company and one non-transferable share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase, for a period of 24 months, one additional Share at a price of CDN$0.15. The Shares issued in connection with this non-brokered private placement, including any issued on the exercise of the Warrants, will be subject to a minimum hold period of four months.
Finder's fees comprised of up to 8% cash and 8% in finder's warrants may be payable in connection with some or all of the offering in accordance with TSX-Venture Exchange policies. Each finder's warrant would be exercisable for one Share at a price of $0.15, for a period of 24 months from the date of issuance. Shares issued on the exercise of the finder's warrants would also be subject to a minimum hold period of four months.
The proposed financing is subject to all necessary regulatory approvals. The proceeds of the financing will be primarily used for exploration activity on the Company's Buckskin Rawhide Property in Nevada, property acquisition in Nevada, exploration of its Stewart Property in British Columbia, and general working capital.
Buckskin Rawhide Property Update
To date, Emgold has identified two significant gold and silver targets at its Buckskin Rawhide Property (the "Property"), located about 40 miles south of Fallon, Nevada. Surface sampling of the eastern half of the Buckskin Rawhide claim block in the Chicago Mountain area resulted in the definition of a significant disseminated gold exploration target. The target, as defined to date, is approximately 4,000 feet long by 400 feet wide and occurs completely within Emgold's claim block. Historic reverse circulation drilling in the area indicates mineralization in the zone occurs to depths of 165 feet, and the zone is open for expansion in several directions (see Emgold's October 4th, 2011 press release for details).
Emgold's second target is the Black Eagle Vein, which is a high grade gold occurrence situated on the west side of Emgold's claim block. Surface sampling of that structure has resulted in the discovery of high-grade gold-silver mineralization containing up to 9.0 ounces per ton gold in a steeply dipping mineralized shoot (see Emgold's January 12, 2011 and April 20, 2011 press releases).
Emgold continues to review and model historic exploration data and Emgold exploration data on the Property, using Mine Sight software. This data includes soil sampling, rock chip sampling, and reverse circulation drilling. The Company's goal is to identify exploration targets for drilling in 2012.
The Buckskin Rawhide Property is comprised of 52 unpatented claims totaling 1,040 acres, of which 46 claims are currently under a lease and option to purchase agreement with Nevada Sunrise LLC, a private company. Six additional claims were staked by Emgold (see Emgold's April 11, 2011 press release). The Property is located in the Rawhide Mining District and is situated adjacent to Pilot Gold Inc.'s Regent gold-silver property and to Rawhide Mining Company's Rawhide Mine. Potential exists for synergistic development of the three properties.
The Buckskin Rawhide Property is a volcanic-hosted, structurally controlled, epithermal gold-silver prospect in the Walker Lane gold belt of western Nevada. The Walker Lane is a regional shear zone and known gold trend that hosts large and small historic and currently operating gold-silver mines, including mines of the Comstock Lode, Tonopah District and Rawhide District. Buckskin Rawhide geology and mineralization are associated with lithologic units and structures of the Rawhide Caldera, as well as structures from the Walker Lane and Basin and Range.
Stewart Property Update
Emgold has completed the drilling planned for 2011 at its 100% owned Stewart Property in British Columbia and is awaiting assay results. The Stewart Property is a poly-metallic exploration property with potential for molybdenum, tungsten, gold, silver, and other mineralization. The focus of the 2011 program was to further delineate a molybdenum resource that has been indentified from historic drilling on the property and by further drilling by Emgold. This program consisted of 19 drill holes totaling 2,526 metres (8,273 feet). Samples have been shipped to Acme Labs in Vancouver for analysis. Assay results are expected to be available starting in November.
Idaho-Maryland Project Update
Emgold's 100% owned subsidiary, Idaho-Maryland Mining Corporation ("IMMC") submitted its revised Permit Applications to the City of Grass Valley in April, 2011. The Applications were accepted by the City in May 2011. The City is currently in the process of completing a competitive bid process to select a consultant to complete the Revised Draft Environmental Impact Report ("EIR") and Final EIR for the Idaho-Maryland Project (described below). On October 12th, the City of Grass Valley interviewed three potential bidders. From these bidders, the selection panel for the City recommended Ascent Environmental, with offices in Sacramento and Stateline Nevada. Sub-consultants to Ascent will include Golder Associates, a global leader in mine related environmental, engineering, and reclamations projects, Fehr and Peers for traffic analysis, and Hausrath Economic Group for economic analysis. The contract with Ascent will be reviewed by Grass Valley City Council on November 8th. Subsequently a Reimbursement Agreement may be completed between the City and IMMC to fund the scope of work, which would be payable by IMMC as the Project Applicant. The completion of the Final EIR is expected to take approximately 12 months after work is initiated.
Upon completion of selection of the final bidder and prior to signing the Reimbursement Agreement, IMMC will request that the City of Grass Valley put the Idaho-Maryland Project temporarily on hold, to allow the Company 60-90 days to evaluate strategic alternatives to fund the completion of the EIR Process. IMMC does not plan to move forward with the EIR Process until sufficient funds are in place to ensure successful completion of the entire EIR.
Evaluation of Financing Alternatives
Emgold plans to use the next 60-90 day period to evaluate strategic alternatives respecting continuance of the Idaho-Maryland Project, and the funding of the Project EIR to completion. Despite the current high price of gold bullion, financing for projects in the junior mining sector is extremely difficult. In the event that insufficient funds can be raised to move the Idaho-Maryland Project forward at the end of that period, Emgold may have to delay the project until market conditions improve or, as a worst case, drop the Project entirely to focus on the other quality assets the Company currently has in its portfolio, including the Buckskin Rawhide Project in Nevada and the Stewart Property in British Columbia.
Information Regarding Emgold
Emgold is currently in the advanced stage of permitting the Idaho-Maryland Project, located in Grass Valley, CA. The Idaho-Maryland Mine was once the second largest underground gold mine in California and is reported to have produced 2.4 million ounces of gold at an average recovered grade of 0.43 ounce per ton. Emgold has a number of earlier stage exploration properties including the Buckskin Rawhide Property in Nevada, and the Stewart Property and the Rozan Property in British Columbia. The Rozan Property is currently optioned to Valterra Resource Corporation. For more information about Emgold, the Idaho-Maryland Gold Project and the Buckskin Rawhide, Stewart, and Rozan Properties, please visit www.emgold.com. Company filings are available at www.sedar.com.
The scientific or technical information contained in this news release has been reviewed and approved by Mr. Robert Pease P.Geo., Chief Geologist of the Company (for the Idaho-Maryland Project and Buckskin Rawhide Project) and Mr. Perry Grunenberg, P.Geo., an independent consultant to the Company (for the Stewart Property). Both are Qualified Persons as defined in National Instrument 43-101 and are supervising the current exploration work at each site.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
David G. Watkinson, P.Eng., President & CEO
This release was prepared by the Company's management.
This news release includes certain statements that are "forward-looking statements" within the meaning of applicable securities laws including statements regarding the proposed private placement, the timing of results from exploration work conducted on the Stewart Property, the timing and results from exploration work on the Buckskin Rawhide Property, development of adjacent properties to the Buckskin Rawhide Property, expected results and potential mineralization and resources on the properties. Forward-looking statements are based on certain assumptions of the Company, including that it will complete the proposed private placement, that results from the Company's drilling program on the Stewart Property will be completed in a reasonable timeframe, that actual results of exploration and development activities on the Stewart Property are consistent with management's expectations, that results of exploration on the Buckskin Rawhide Property are consistent with management's expectations, that properties adjacent to the Buckskin Rawhide property are developed, that assumptions relating to mineral resource estimates are accurate, and financing is available to complete the required work. 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 exploration results that are different than those anticipated, inability to raise or otherwise secure capital to fund planned programs, changes to metal prices, the price of the Company's shares, the costs of labour, equipment and other costs associated with exploration, availability of drilling equipment and operators, actual development and mining operations, exploitation and exploration successes, approvals by federal, state, and local agencies, and general economic, market or business conditions. 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 to a result of new information, future events or otherwise, except as required by law. 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.
U.S. 20-F Registration: 000-51411
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.
http://tmx.quotemedia.com/article.php?newsid=45550499&qm_symbol=EMR
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