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Emgold Closes Acquisition of an Option to Acquire up to a 91% Interest in the Casa South Property, Quebec
(via TheNewswire) March 20, 2019 / TheNewswire / Vancouver, British Columbia - Emgold...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Closes Acquisition of an Option to Acquire up to a 91% Interest in the Casa South Property, Quebec(via TheNewswire)\n\n \n \n\nMarch 20, 2019 / TheNewswire / Vancouver, British Columbia - Emgold Mining Corporation (TSXV: EMR) (\"Emgold\" or the \"Company\") announces it has closed this day the acquisition of an option to acquire up to a 91% interest in the Casa South Property, QC (the \"Property\"), as previously announced and more fully described in Company's press release on December 14, 2018 and in March 19, 2019 (the \"Transaction\"). All currency amounts in this press release are in $CDN. The Transaction is an arms-length transaction.\n\n \n\nAs of the date hereof, the Company has completed the first option payment of $75,000 to Vendors as required by the Option Agreement entered into between the Company and Vendors, and initiating the four year Option Period. Concurrently, the Company has issued this day to the Assignor an amount of 807,692 common shares from its share capital representing $52,500, at a share price of $0.065 (based on the Market Price, as defined in Exchange policies, of the common shares at the time of disclosing of the Transaction). \n\n \n\nComplete disclosure of the Transaction is provided in the Company's press release dated December 14, 2018 and March 19, 2019 and available at www.sedar.com.\n\n \n\nAbout the Casa South Property\n\n \n\nThe Property is located approximately 80 kilometers north of the town of La Sarre, Quebec or 105 kilometers west south-west of Matagami in the Casa Berardi township, James Bay Municipality. It is located south of the Casa Berardi Mine, owned and operated by Hecla. It is accessible going north from La Sarre via Casa Berardi Mine's all season gravel road. The Property consists of 180 active mining titles covering a total of 10,061 hectares. The claims are in one contiguous block.\n\n \n\nThe Property encompasses a lithologic context similar to the Cass Berardi deposit. Its exploration history followed the same stages of evolution over a period of time from the 1960 to 1990 where exploration focused sulfide rich polymetallic deposits similar to the Kidd Creek, Selbaie, or Mattagami deposits discovered in the northern part of the Abitibi belt. Exploration work on the claims was done by companies such as Newmont, Noranda, and Cambior, among others.\n\n \n\nFollowing...