Vancouver, British Columbia, December 2, 2021 – Emgold Mining Corporation (TSX-V: EMR) (“Emgold” or the “Company”) announces it has received the necessary permit and is commencing a 2021/22 exploration program (the “Program”) at its Casa South Property, Quebec (the “Property”). The Program, as currently planned, will consist of up to 16,175 meters of diamond drilling at 48 drill sites. The drilling will target eight of twenty geophysical targets described in Emergent's September 1, 2021 press release available at www.emgold.com or under the Company’s corporate filings at www.sedar.com. The Program may be broken up into discrete campaigns and is subject to adjustment based on exploration results.
About the Casa South Property
The Property is located approximately 80 kilometers north of La Sarre and 105 kilometers west south-west of Matagami, in the Casa Berardi township, James Bay Municipality. It encompasses 204 contiguous active mining titles covering a total of about 11,400 hectares. The Property extends immediately south of and abuts Hecla Mining Corporation’s (NYSE:HL) Casa Berardi Mine operation and extends laterally for 20 kilometers covering different sub-parallel structures corresponding to distinct geophysical signatures and hosts elevated gold values in soil anomalies at multiple locations.
Casa Berardi Mine has produced over 2.4 million recovered gold ounces since commencing production in 1988 (source: Technical Report for the Casa Berardi Mine, Northwestern Quebec, Canada, filed April 1, 2019, and available under Hecla’s filings at www.sedar.com). Note that the presence of mineral resources and reserves found on the Casa Berardi Mine Property does not guarantee discovery or delineation of mineral resources and reserves on the Casa South Property.
A technical report on Casa South, titled “NI 43-101 Technical Report, Casa Sud Property, NTS 32E06/32E11, Northwestern Quebec, Canada” dated March 8, 2019 has been completed and is available on the SEDAR profile of the Company.
Kevin Dane-MacRae., a qualified person under the NI 43-101 instrument, has reviewed and approved the content of this press release. He is a professional geologist registered with L’Ordre des géologues du Québec.
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, Emergent'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 (NYSE:RIO). The Mindora Property is a gold, silver, 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, operators of the adjacent Rawhide Mine.
In Quebec, the Casa South Property, is an early-stage gold property adjacent to Hecla Mining Corporation’s (NYSE:HL) operating Casa Berardi Mine. The East-West Property is a gold property adjacent to and on strike with Wesdome Gold Mine Ltd.’s (TSX:WDO) Kiena Complex and O3 Mining Corporation’s (TSX:OIII) Malarctic Property (Marban Project). The Trecesson Property is located 50 km north of Val d’Or Mining Camp. Emgold also has a 1% NSR in the Troilus North Property, part of the Troilus Mine Property being explored by Troilus Gold Corporation (TSX:TLG).
Note that the location of Emergent's properties adjacent to producing or past producing mines does not guarantee exploration success at Emergent's properties or that mineral resources or reserves will be delineated. For more information on the Company, investors should review the Company’s website at www.emgold.com or view the Company’s filings available at www.sedar.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
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.
Cautionary Note on Forward-Looking Statements
Certain statements made and information contained herein may constitute “forward looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates”, “believes”, “targets”, “estimates”, “plans”, “expects”, “may”, “will”, “could” or “would”. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws. The Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company’s mineral properties.