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Emgold Announces Letter of Intent for Golden Arrow Property, Nevada and Announces Share Consolidation
(via TheNewswire) Vancouver, BC / TheNewswire / July 18 2017 - Emgold Mining Corporat...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Announces Letter of Intent for Golden Arrow Property, Nevada and Announces Share Consolidation(via TheNewswire)\n\n \n\n\nVancouver, BC / TheNewswire / July 18 2017 - Emgold Mining Corporation (TSX-V: EMR) (\"Emgold\" or the \"Company\"): is pleased to announce that it has executed a non-binding letter of intent (the \"LOI\") to enter into a definitive option agreement with Nevada Sunrise Gold Corporation (\"Nevada Sunrise\"; TSX-V: NEV) giving Emgold the right to acquire an 80% interest in the Golden Arrow gold-silver property in Nevada (the \"Golden Arrow Property\"). The Golden Arrow Property has a historical measured and indicated resource of 12.2 million tons with an average gold equivalent grade of 0.030 ounces per ton (opt) totaling 365,900 gold equivalent ounces and an inferred resource of 3.8 million tons with an average gold equivalent grade of 0.013 opt totaling 72,000 gold equivalent ounces (see details below). \n\n\n\nThe Golden Arrow Property is an advanced-stage exploration property with a comprehensive exploration database including geochemical sampling, geophysics, and over 190,000 feet of reverse circulation and diamond core drilling. On May 11, 2016, Nevada Sunrise obtained approval of a Plan of Operations (the \"Plan\") and an Environmental Assessment (the \"EA\") for the Golden Arrow Property from the U.S. Bureau of Land Management (the \"BLM\"). The Plan and EA contemplate approximately 240,000 feet (73,170 metres) of drilling in up to 240 holes to explore for new areas of gold mineralization on 1,500 acres of the property and to potentially expand the known gold resources. Having the Plan and EA already in place will allow Emgold to move forward quickly with a major drilling program on the Golden Arrow Property once it has secured the necessary funding.\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 exploration targets have been identified for exploration. Emgold 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...