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Drilling To Commence On Emgold's Buckskin Rawhide East Property, NV
(via Thenewswire.ca) Emgold Mining Corporation (EMR: TSX-V) ("Emgold" or the "Company") is ...
About this update from Emergent Metals Corp
[{"type":"text","content":"Drilling To Commence On Emgold's Buckskin Rawhide East Property, NV(via Thenewswire.ca)\n\n \nEmgold Mining Corporation (EMR: TSX-V) (\"Emgold\" or the \"Company\") is pleased to announce that the 2013 surface drilling program proposed for its Buckskin Rawhide East Property (the \"Property\") has been approved by the U.S. Bureau of Land Management (the \"BLM\"). The Property is located about 40 miles south of Fallon, Nevada in the Rawhide Mining District and is adjacent to the active Denton Rawhide Mine owned by Rawhide Mining LLC (\"RMC\"), a private company. The Company also announces the resignation of one of its directors, reducing the number of directors of the company from six to five, as described on page two below.\n\n \n \nEmgold recently acquired a 75 percent interest in the Buckskin Rawhide East Property and is in the process of acquiring the remaining 25 percent interest from the underlying property owners (see November 14, 19, and 26, 2012, December 28, 2012, January 13, 2013, and February 13, 2013 press releases). As part of these transactions, the Company has completed two private placements to RMC to date, totaling CDN$750,000. The Company will complete another CDN$250,000 private placement to RMC once the remaining 25 percent interest in Buckskin Rawhide East Property is transferred from the underlying property owners to Emgold, as part of the title process. Upon acquiring 100 percent ownership of the Property, the Property will be leased to RMC, who will conduct the exploration as part of the lease agreement. \n\n \n \nReverse circulation drilling is planned for the eastern half of the Buckskin Rawhide claim block in the Chicago Mountain/Chicago Gulch and North Buckskin Mountain Target areas. The purpose of the 2013 exploration program is to extend areas of gold-silver mineralization discovered by Kennecott Exploration (\"Kennecott\") in the 1990s and by Emgold since 2009. The Chicago Mountain Target consists of a bulk disseminated gold and silver exploration target approximately 4,000 feet long by 400 feet width that was identified from historic Kennecott and more recent Emgold surface rock chip sampling and analysis, as well as from historic Kennecott drilling (see Emgod's October 4, 2011 press release). Kennecott drilled approximately 15 reverse circulation holes in this target area in the 1990s, with 10 of ...