Business
Emgold Completes Acquisition Buckskin Rawhide East Property, Nevada
(via Thenewswire.ca) Vancouver, BC / TNW-ACCESSWIRE / July 28 2014 / Emgold Mining Corpo...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold Completes Acquisition Buckskin Rawhide East Property, Nevada(via Thenewswire.ca)\n \n \nVancouver, BC / TNW-ACCESSWIRE / July 28 2014 / Emgold Mining Corporation / (\"Emgold\" or the \"Company\") is pleased to announce that it has completed the acquisition of 100% of the Buckskin Rawhide East Property (the \"Property\"). The Property is located in the Rawhide Mining District, about 40 miles southeast of Fallon, Nevada. It consists of 52 unpatented mineral lode claims totaling approximately 835 acres. Gold and silver mineralization occurs throughout the property which was sampled and drilled historically by Kennecott Minerals Company (\"Kennecott\") and others. The Property is surrounded by Rawhide Mining LLC's (\"RMC\") operating Denton-Rawhide Mine and Regent Property.\n\n \n \nThe Denton-Rawhide Mine was owned and operated by Kennecott from 1988 to 2010. In 2010, the Mine was acquired by RMC, who continued to produce gold from historic heap leach pads. In 2012, RMC recommenced production from the mine. The Denton-Rawhide Mine produced 1.6 million ounces of gold and 13.5 million ounces of silver from 1990 through 2012 (Source: Nevada Bureau of Mines and Geology Special Publication MI-2012). It should be noted that proximity of the Property to other exploration or mining properties in the area does not mean a resource will be identified or delineated on the Property. However, the presence of similar geology and structures on the properties does increase the potential for exploration success.\n\n\n \nHistorically, Kennecott drilled over 80 reverse circulation holes on the Buckskin-Rawhide East Property. Those results indicated potential for delineation of both high grade mineralized gold/silver veins and bulk minable disseminated gold/silver zones. Emgold reviewed historic data, conducted geological mapping and field sampling, and subsequently discovered the Chicago Mountain/Chicago Gulch, Black Eagle, and Buckskin Mountain exploration targets. Information on the Property can be found at www.emgold.com.\n\n\n \nEmgold originally optioned the Property in 2009 and subsequently acquired 75% ownership from Nevada Sunrise LLC (a private company) in December, 2012 for US$400,000. Emgold has now completed acquisition of the remaining 25% interest in the Property from the Estate of Maurice and Lorraine Castagne for US$110,000, sub...