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Emgold Completes 100% Acquisition of the Koegel Rawhide Property, Nevada
(via TheNewswire) Vancouver, British Columbia / TheNewswire / March 28, 2018 - ...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Completes 100% Acquisition of the Koegel Rawhide Property, Nevada(via TheNewswire)\n\n \n \n\nVancouver, British Columbia / TheNewswire / March 28, 2018 - Emgold Mining Corporation (TSXV: EMR) (\"Emgold\" or the \"Company\"): is pleased to announce that it has completed the final acquisition of a one hundred (100%) percent interest in its Koegel Rawhide Property, Nevada (the \"Property\"). The Property is located approximately 40 miles southeast of the city of Fallon, in the Rawhide Mining District and Koegel Hills, and five miles southwest of the active Rawhide Mine. The Rawhide Mine is owned and operated by Rawhide Mining LLC. Formerly operated by Kennecott Minerals Company, the Rawhide Mine is reported to have produced 1.7 million ounces of gold and 14.1 million ounces of silver from the years 1990 to 2014 (Source: Nevada Bureau of Mines and Geology Special Publication MI-2014). \n\n\n\nTerms of the Agreement\n\n\n\nAs announced by the Company on February 13, 2012, Emgold originally signed a Lease and Option to Purchase Agreement with Jeremy C. Wire to acquire the RHT and Gel Claims (19 unpatented lode mining claims totaling 380 acres), which comprise the core of the Koegel Rawhide Claims. As further announced by press release on February 15, 2012, Emgold subsequently staked 17 additional claims, expanding the property size to 36 unpatented lode mining claims totaling 720 acres. The RHT and GEL Claims, and all of the claims staked by Emgold within a 0.5 mile radius, will remain subject to a two (2%) percent net smelter returns (\"NSR\") royalty should any production occur from the claims. The entire NSR royalty can be purchased for USD$1 million at any time (less any previous royalty payments already made).\n\n\n\nKoegel Rawhide Property Details\n\n\n\nThe Koegel Rawhide property is a volcanic-hosted, structurally controlled, epithermal gold-silver prospect in the Walker Lane gold belt of western Nevada. The Walker Lane is a regional shear zone and known gold trend that hosts large and small historic and currently operating gold-silver mines, including in the Comstock Lode, Tonopah District and Rawhide District. The Property's geology and mineralization are associated with lithologic units and structures of the Rawhide volcanic center, as well as structures from the Walker Lane and Basin and Range. Further information ...