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

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[{"type":"text","content":"Emgold Provides Exploration Update For its New York Canyon Property, NVVANCOUVER, BC / ACCESSWIRE / March 7, 2022 / Emgold Mining Corporation (TSXV:EMR)(OTCQB:EGMCF)(FRA:EMLM)(BSE:EMLM) (\"Emgold\" or the \"Company\") announces assay results from the final three exploration diamond core holes drilled at its New York Canyon Property, NV (the \"Property\") in 2021. Exploration activities are being carried out by Kennecott Exploration Company (\"KEX\"), a subsidiary of Rio Tinto plc, in connection with KEX's earn-in obligations under the Earn-In with Option to Joint Venture Agreement (the \"Agreement\") between Emgold and KEX first announced by press release on February 11, 2020.Key exploration results include:Hole NYCN0010 intersected 16.6 m of 0.263% CuEq, 14.9 m of 0.131% CuEq, and 31.47 m of 0.108% CuEq as shown in Table 3 below;KEX completed 4,481 m (14,701 ft) of drilling in 10 core holes in 2021;Results of a passive seismic geophysical survey completed by KEX indicates potential to expand the three main exploration targets on the Property, the Copper Queen, Champion, and Longshot Ridge Targets, to the southeast; andKEX has now completed US$5.0 million in exploration expenditures on the Property, including US$1.0 million that was required to be spent within 18 months of signing the Agreement. They are now in a position to exercise their First Option, as described further below, to earn a 55% interest in the Property. They have five years from February 7, 2020, the date of the Agreement, to exercise this First Option.David Watkinson, President and CEO of Emgold, stated, \"KEX has wrapped up its 2021 exploration field work at New York Canyon and made significant progress, doubling the scope of their originally planned drill program and associated expenditures. They are currently analyzing the results of this work and completing a 3-D exploration model for the Property. It is expected the model will be completed in the first half of 2022, after which they plan to continue their field exploration efforts at New York Canyon.\"This press release should be read in conjunction with Emgold's April 8, July 22, and October 4, 2021, press releases as well as Emgold's January 26, 2022, press release, all of which provide information on the 2021 exploration program and results at New York Canyon.About the New York Canyon PropertyThe Proper...

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