Emgold Mining Provides Exploration Update For its New York Canyon Property, NV

About this update from Emergent Metals Corp

[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / October 4, 2021 / Emgold Mining Corporation (TSXV:EMR) (OTC PINK:EGMCF) (FRA:EMLM) (BSE:EMLM) (\"Emgold\" or the \"Company\") is pleased to announce assay results from four exploration diamond core holes and re-assay results from nine historic diamond core holes drilled at its New York Canyon Property, NV (the \"Property\"). Exploration activities are being carried out by the Company's partner, Kennecott Exploration Company (\"KEX\"), a subsidiary of Rio Tinto plc (RIO). The Property is an advanced stage exploration project consisting of three main copper targets which were first explored in the mid-1960's, with the last historic drilling completed in 2006. These historic targets, situated west to east respectively, are called Copper Queen, Champion, and Longshot Ridge. The Property is subject to an Earn-In with Option to Joint Venture Agreement (the \"Agreement\") between Emgold and KEX first announced by press release on February 11, 2020. KEX can earn up to a 75% interest in the Property by completing up to US$22.5 million in exploration expenditures. Under the terms of the Agreement, KEX has a First Option to acquire a 55% undivided interest in the Property by incurring US$5.0 million in expenditures over a 5-year period, of which US$1.0 million is a committed expenditure that must be completed prior to the 18-month anniversary of the Agreement. To date, KEX has completed the US$1.0 million committed expenditure and is in the process of completing the First Option. Significant intercepts from the first four of 10 currently planned drill holes for 2021 on the Property are summarized in Table 1. Table 1 New York Canyon Property Significant Drill Intercepts for Drill Holes NYCN0001 to NYCN0004 (Assay intervals greater than or equal to 0.1% CuEq and lengths greater than 10 m) Hole ID From(m) To(m) Length (1)(m) CuEq (2)% NYCN0002 110.03 204.38 94.35 0.333 and 457.60 506.94 49.34 0.273 and 544.00 716.28 172.28 0.169 NYCN003 123.50 134.00 10.50 0.163 and 161.00 200.00 39.00 0.312 and 344.00 362.00 18.00 0.168 True widths unknown. Copper equivalent grades are calculated based on US$3.00 per lb Cu, US$10.00 per lb Mo, US$19.00 per oz Ag, and US$1,750 per oz Au approximating average prices for those metals over the previous three years. No adjustment has been made for recovery. In addition, KEX has re-as...

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