Business
Emgold to Acquire the Mindora Gold and Base Metal Property, NV with Historic Near Surface Drill Results Incuding 105 Feet (32 Meters) of 0.098 OPT (3.36 GPT) Gold Equivalent
(via TheNewswire) Vancouver, British Columbia / TheNewswire / May 21, 2019 - Emgold Mining...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold to Acquire the Mindora Gold and Base Metal Property, NV with Historic Near Surface Drill Results Incuding 105 Feet (32 Meters) of 0.098 OPT (3.36 GPT) Gold Equivalent(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / May 21, 2019 - Emgold Mining Corporation (TSXV: EMR; OTC:EGMCF; Frankfurt Exchange:EMLN) (\"Emgold\" or the \"Company\") announces it has signed a Letter of Intent with Nevada Sunrise LLC, a private Nevada company, giving it the right to purchase 12 unpatented mining (the \"NS Claims\"). The Company has also signed a second Letter of Intent with BL Exploration LLC, a second private Nevada company, giving it the right to purchase 18 unpatented mining claims (the \"BL Claims\"). Together, the 30 unpatented mining NS Claims and BL Claims make up the Mindora Property (the \"Property\"). Hole No. 7, shown in Table 1 below, contains 105 ft. (32.0 m) of 0.057 opt (1.94 gpt) gold and 3.552 opt (121.78 gpt) silver, representing a 0.098 opt (3.36 gpt) AuEq grade from a hole depth of 0 to 105 ft. (0 to 32.0 m), with true width of the intercept unknown. \n\n \n \nAbout the Mindora Property\n\n \n \nThe Property is a gold/silver and base metal property located 20 miles southeast of Hawthorne, Nevada. The gold-silver zone is an epithermal, carbonate-hosted, structurally controlled deposit in the Luning Limestone Formation. The gold-silver zone overlies a porphyry system with molybdenum mineralization. There is also evidence of copper skarn and copper porphyry mineralization on the Property.\n\n \n \nThe Property was discovered and worked in the late 1800's. In the 1920's with a limited amount of production came from a series of rich, silver-bearing veins. During the period 1946-1948, an estimated 10,000 tons of direct-shipping ore was mined from the Property at unknown grade.\n\n \n \nIn the 1970's, geologists recognized the epithermal nature of mineralization, and similarities to the nearby Santa Fe deposit and other carbonate-rich sediment-hosted gold deposits in Nevada. Several companies staked the property during this period, did limited sampling and geophysics, and then dropped their claims.\n\n \n \nHawthorne Gold Corporation acquired the property in 1979, and in the following year, brought in E & B Exploration Inc. as a joint-venture partner and operator. E & B completed programs of rock-ch...