Emgold Mining stakes 117 claims at Mindora Emgold Mining stakes 117 claims at Mindora
2020-12-17 11:18 ET - News Release
Mr. David Watkinson reports
EMGOLD STAKES ADDITIONAL CLAIMS, EXPANDING ITS MINDORA PROPERTY, NV
Emgold Mining Corp. has staked an additional 117 unpatented mining claims at its Mindora property, NV (the "Property"). This increases the total number of unpatented claims controlled by the Company from 30 to 147, or about 2,940 acres (1,190 hectares) in total area. The claim block extends in an east-west direction to cover the mineralized structures and observed alteration zones. It also covers the area of a molybdenum porphyry system identified by historic exploration in the 1990's. The claims were staked by Rangefront Geological of Elko, NV.
About the Mindora Property
Mindora is a gold/silver and base metal exploration property located 20 miles southeast of Hawthorne, Nevada. The gold-silver zone is an epithermal, carbonate-hosted, structurally controlled deposit in the Luning Limestone Formation. The gold-silver zone overlies a porphyry system with molybdenum mineralization. There is also evidence of copper skarn and copper porphyry mineralization on the Property.
The Property was discovered and worked in the late 1800's. In the 1920's a limited amount of production came from a series of rich, silver-bearing veins. During the period 1946-1948, an estimated 10,000 tons of direct-shipping ore was mined from the Property at unknown grade.
In the 1970's, geologists recognized the potential for epithermal gold and silver mineralization, and similarities to the nearby Santa Fe deposit and other carbonate-rich sediment-hosted gold deposits in Nevada. Several companies staked the Property during this period, did limited sampling and geophysics, and then dropped their claims.
Hawthorne Gold Corporation acquired the property in 1979, and in the following year, brought in E&B Exploration Inc. ("E&B") as a joint-venture partner and operator. E&B completed programs of rock-chip sampling and trench sampling, surface and underground geologic mapping, geophysical surveys, and drilled approximately 31,425 ft. (9,578 m) in 134 holes (mostly rotary and reverse circulation, but also a water-well and two diamond core holes). E&B's work developed four known mineralized zones.
Eureka Resources, Inc.("Eureka") acquired E&B's interest in 1983. Eureka conducted IP, magnetic and VLF electromagnetic surveys, soil and rock-chip sampling and drilled an additional approximately 11,441 ft. (3,487 m) in 40 holes. In 1988, Eureka commissioned metallurgical studies and a detailed review by Kilborn Engineering with the goal of developing a small open pit gold mine. Total drilling on the Property is therefore about 42,836 ft. (13,056 m), mostly in vertical holes in the range of 200-400 ft. (61-122 m), with a maximum drilling depth of 700 ft. (214 m).
The data available on the Property was generated through exploration prior to the implementation of National Instrument 43-101 ("NI-43-101"). No mineral resources or reserves have been defined on the Property that meet NI 43-101 or CIM Standards of Disclosure.
Qualified Person
Robert Pease, C.P.G., a qualified person under the NI 43-101 instrument, has reviewed and approved the content of this press release.
About Emgold
Emgold is a gold and base metal exploration company focused on Nevada and Quebec. The Company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders (acquisition and divestiture (A&D) business model).
In Nevada, Emgold's Golden Arrow Property, the core asset of the Company, is an advanced stage gold and silver property with a well-defined measured and indicated resource. New York Canyon is a base metal property subject to an Earn-in with Option to Joint Venture Agreement with Kennecott Exploration, a subsidiary of Rio Tinto Plc (RIO). The Mindora Property is a gold and base metal property located 12 miles from New York Canyon. Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, who operate the adjacent Rawhide Mine and represents a royalty opportunity for the Company.
In Quebec, the Casa South Property, is an early stage gold property adjacent to Hecla Mining Corporation's (HL) operating Casa Berardi Mine. The East-West Property is a gold property adjacent to and on strike with Wesdome Gold Mine Ltd.'s (WDO) Kiena Complex and O3 Mining Corporation's (OIII) Malarctic Property (Marban Project). Emgold also has a 1% NSR in the Troilus North Property, part of the Troilus Mine Property being explored by Troilus Gold Corporation (TLG).
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