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Emgold Announces Amended Letter of Intent For Acquisition of the Golden Arrow Property, Nevada
(via TheNewswire) Vancouver, BC / January 4 2018 / TheNewswire / Emgold Mining Corpor...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Announces Amended Letter of Intent For Acquisition of the Golden Arrow Property, Nevada(via TheNewswire)\n\n \n\n\nVancouver, BC / January 4 2018 / TheNewswire / Emgold Mining Corporation (TSX-V: EMR) (\"Emgold\" or the \"Company\"): is pleased to announce that it has executed an amended non-binding letter of intent dated December 27, 2017 (the \"Amended LOI\") with Nevada Sunrise Gold Corporation (\"Nevada Sunrise\"; TSX-V: NEV). The Amended LOI replaces a prior non-binding letter of intent dated July 17, 2017 with Nevada Sunrise (the \"Original LOI\") and provides for the acquisition by Emgold of an immediate 51 percent interest in the Golden Arrow gold-silver property in Nevada (the \"Golden Arrow Property\"); together with a first option to acquire an additional 29% interest followed by a second option to acquire the final 20% interest in the Golden Arrow Property by making the exploration expenditures and cash payments as outlined below (the \"Transaction\"). \n\n\n\nGolden Arrow Property Details\n\n\n\nThe Golden Arrow Property is located approximately 40 miles east of Tonopah in Nye County, Nevada. The property consists of 357 unpatented and 17 patented lode mineral claims covering an area of approximately 7,030 acres (2,845 hectares). It is an advanced-stage exploration property with a comprehensive exploration database including geochemical sampling, geophysics, and over 200,000 feet of reverse circulation and diamond core drilling. Emgold is in the process of completing an updated National Instrument 43-101 technical report on the property. \n\n\n\nTo date, two main exploration targets have been drilled on the Golden Arrow Property focusing on bulk disseminated mineralization - the Gold Coin and Hidden Hill deposits. Numerous other targets have been identified for exploration. Emgold's management believes there is potential to expand both the Hidden Hill and Gold Coin resources and for discovery of other bulk disseminated mineralization on the Golden Arrow Property. In addition, historic underground mine workings lie along the Page Fault and other structures on the Golden Arrow Property indicating potential for vein style mineralization that has been subject to limited modern exploration, if any, to evaluate its potential. \n\n\n\nGolden Arrow Sale and Option Terms\n\n\n\nThe terms of the Amended LOI provide tha...