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Emgold Mining Closes Royalty Acquisition on Part of the Troilus Gold Project, Quebec
VANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Emgold Mining Corporation (TSXV:EMR)(OTC:EGMCF)(...
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[{"type":"text","content":"Emgold Mining Closes Royalty Acquisition on Part of the Troilus Gold Project, QuebecVANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Emgold Mining Corporation (TSXV:EMR)(OTC:EGMCF)(FRA:EMLM) (\"Emgold\" or the \"Company\") announces it has received TSX Venture Exchange approval and acquired a 1% Net Smelter Royalty (\"NSR\") on the Troilus North Property, part of the 16,000 ha Troilus Gold Project (the \"Project\") in Quebec. The Project is being advanced by Troilus Gold Corporation (TLG) (\"Troilus Gold\") and is one of the largest undeveloped gold deposits in North America.About the Troilus Gold Project The Project, which hosts the past producing Troilus Mine, is located northeast of the Val-d'Or mining district, 160 km north of Chibougamau. From 1997 to 2010, Inmet Mining Corporation operated the Troilus Mine as an open-pit and underground operation, producing more than 2 million ounces of gold and nearly 70,000 tonnes of copper(1). A recent Technical Report, completed by Troilus Gold, outlines the current indicated and inferred resource for the Project which is summarized the table below:Troilus Gold ProjectMineral Resource - Z87 and J Zone (J4 and J5)Total Open Pit and Underground(Effective Date, December 20, 2019)ResourceClassificationTonnage(Mt)Au(g/t)Cu(%)Ag(g/t)AuEq(g/t)ContainedGold(Moz)ContainedCopper(Mlb)Contained Silver (Moz)ContainedAuEq(Moz)Indicated159.10.780.091.190.923.97301.156.074.71Inferred52.70.900.081.011.041.5394.891.711.76Notes:1. CIM (2014) definitions were followed for Mineral Resources.2. Pit constrained mineral resources were estimated at a cut-off grade of 0.3 g/t AuEq and were constrained by a Whittle pit shell. Underground mineral resources were estimated at a cut-off grade of 0.9 g/t AuEq.3. Mineral Resources were estimated using long-term metal prices of US$1,400 per ounce gold, US$3.25 per pound copper, and US$20 per ounce silver, and an exchange rate of US$1.00 = C$1.25.4. High grade capped values vary from 2 g/t Au to 14 g/t Au and 1 g/t Ag based on mineralized lens.5. Z87 Zone gold equivalent was calculated with formula AuEq = Au grade + 1.546 * Cu grade + 0.01 * Ag grade, and the J Zone (J4 & J5) gold equivalent was calculated with formula AuEq = Au grade + 1.47 * Cu grade + 0.013 Ag grade.6. A recovery of 83% for gold, 92% for copper, and 76% for silver was used in the Z87 Zone; a recovery...