Emgold Mining Corporation announces that it expanded its Casa South Property, QC with the addition of 24 mineral claims totaling approximately 1,320 ha.
Emgold Mining Corporation (TSXV:EMR) (“Emgold” or the “Company”) announces that it expanded its Casa South Property, QC (“Casa South” or the “Property”) with the addition of 24 mineral claims totaling approximately 1,320 ha (3,260 ac). The total size of the Property is now 204 claims totaling 11,400 ha (28,170 ac). Casa South is immediately south of Hecla Mining Corporation’s (“Hecla”) (HL) operating Casa Berardi Mine and immediately north of IAMGOLD Corporation’s (“IAMGOLD”) (IMG) (IAG) Gemini-Turgeon Property.
In a January 7, 2020 press release Hecla announced 2019 production at the Casa Berardi Mine was 134,409 ounces of gold (press release is available on Hecla’s website or under their corporate filings at sedar.com). Note that the proximity of the Casa South Property to Casa Berardi Mine or the Gemini-Turgeon Property does not guarantee exploration success at Casa South. No mineral resources or reserves have yet been delineated at Casa South.
Emgold has completed a second amendment (the “Second Amendment”) to the option agreement (the “Option Agreement”) dated January 28, 2019 between Emgold and Greg Exploration Inc. and Affiliates (collectively known as the “Vendors”) (see Emgold press release dated March 19, 2019 for details on the Option Agreement). The Second Amendment adds the additional 24 mineral claims to Schedule A of the Option Agreement, defining the Property as the 204 claims. All 204 are owned by Emgold but are subject to a one and half percent (1.5%) Net Smelter Royalty (“NSR”) payable to the Vendors. A half percent (0.5%) of said NSR can be repurchased by Emgold for an amount of C$500,000. Emgold is now in the process of transferring the 24 claims from the Vendor into Emgold’s name.
Emgold is a junior gold and base metal exploration company focused on Nevada and Quebec, the #1 and #4 jurisdictions for mining investment according to the Fraser Institute’s Annual Survey of Mining Companies, 2018. 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. Emgold’s properties include ownership or options to acquire 100% ownership in the Golden Arrow, Buckskin Rawhide East, New York Canyon, Mindora, Buckskin Rawhide West, and Koegel Rawhide Properties in Nevada. In Quebec, the Company owns the Casa South Property and, as announced by press release on December 12, 2019, options to earn up to a 55% interest in the East-West Property. 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.