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Emgold to Acquire the New York Canyon Copper Property, NV
(via TheNewswire) May 28, 2019 / TheNewswire / Vancouver, British Columbia - Emgold ...
About this update from Emergent Metals Corp
[{"type":"text","content":"Emgold to Acquire the New York Canyon Copper Property, NV(via TheNewswire)\n\n \n\n\n\n \nMay 28, 2019 / TheNewswire / Vancouver, British Columbia - Emgold Mining Corporation (TSXV: EMR; OTC:EGMCF ; Frankfurt Exchange:EMLN) (\"Emgold\" or the \"Company\") announces it has signed a Letter of Intent (the \"LOI\") with Searchlight Resources Inc. (TSXV: SCLT) (\"Searchlight\") giving it the option to acquire a 100% interest the New York Canyon Property, NV (the \"Property\"), subject to underlying royalties. The Property includes 21-patented mineral claims and 60-unpatented mining claims, along with a significant database of historic information. Total historic drilling on the Property, to date, is 234 holes totaling 139,056 ft. (43,384 m). The Property has three main exploration targets - Longshot Ridge, Champion, and Copper Queen representing oxide and sulfide skarn and copper/molybdenum porphyry targets. \n\n \n \nAbout the New York Canyon Property\n\n \n \nThe Property is located in the Santa Fe Mining District, Mineral County, in west-central Nevada, about 30 mi. (48 km) from Hawthorne, Nevada. The Property consists of 21-patented claims and 60-unpatented claims totaling about 1,500 ac. (607 ha). The claims are divided into two groups - the North and South Groups. \n\n\n \nThe North Group of claims comprising the Property covers historic past producing copper operations and gold occurrences and is adjacent to the past producing Santa Fe Gold Mine owned by Victoria Gold Corporation (TSX:V: VIT) (\"Victoria Gold\") The Santa Fe deposit was discovered in the late 1970's and mined by Corona Gold in the late 1980's and early 1990's. Historic production estimated from Santa Fe Mine is 345,499 ounces of gold and 710,629 ounces of silver between 1989 and 1995 (source: The Nevada Mineral Industry, Special Publication MI-2017, Nevada Bureau of Mines and Geology). Note that the vicinity of the Property to a past producing mine is not necessarily indicative of the mineralization that may be hosted at New York Canyon Property. \n\n\n \nThe South Group of claims comprising the Property hosts the Longshot Ridge, Champion, and Copper Queen deposits, which host copper skarn oxide, copper skarn sulfide, and copper sulfide porphyry mineralization. The discovery of these deposits dates back to 1875 and historic production, by the Wall Street Coppe...