Emgold to Acquire up to 55% Interest in the East-West Property, Val D'Or Quebec

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[{"type":"text","content":"Emgold to Acquire up to 55% Interest in the East-West Property, Val D’Or QuebecVANCOUVER, BC / ACCESSWIRE / December 11, 2019 / Emgold Mining Corporation (TSXV:EMR) (\"Emgold\" or the \"Company\") announces that it has signed a Claim Purchase and Option Agreement giving the Company the option (the \"First Option\") to acquire up to a 50% interest in the East-West Property, Quebec (the \"Property\") from a private individual (the \"Vendor\"). The remaining 50% interest in the Property is owned by Knick Exploration Inc. (\"Knick\") (KNX). Emgold has also acquired a second option (the \"Second Option\") to increase its ownership in the Property to 55%, as outlined below. The transaction is subject to TSX Venture Exchange (the \"Exchange\") approval.About the East-West PropertyThe Property is located in the Val d'Or Mining Camp on strike, west of, and adjacent to Wesdome Gold Mines Ltd. (TSX: WDO) Kiena Complex Property which hosts the past producing Kiena Mine. The Kiena Complex produced more than 2.8 million ounces of gold from 1981 to 2013 and has a permitted 2,000 tonne per day milling and refining complex currently on care and maintenance. It is also on strike, east of, and adjacent to Osisko Mining Inc.'s (TSX: OSK) Marban Block Property which contains three past producing Mines (Marban, Norlartic, and Kierrans) that produced more than 590,000 ounces of gold. Note that the location of the Property adjacent to the Kiena Complex or Marban Block Properties does not guarantee exploration success or that mineral resources and mineral reserves will be delineated on the East-West Property.A NI 43-101 Technical Report(1) was completed on the Property in 2018 by Knick Exploration Inc. and is available under Knick's corporate filings at www.sedar.com. Historic work on the Property, prior to 2007, includes more than 41,000 m in drilling in 180 drill holes. Knick acquired the Property in 2007 and subsequently conducted three drilling programs totaling 17,728 m of drilling in 100 drill holes. The Vendor acquired a 50% interest in the Property in 2018 from Knick. Drilling results to date support the potential for a gold system over a strike length of about 1.5 km.Terms of the TransactionOn the closing date, the Vendor will grant to Emgold the First Option to acquire 50% ownership and title to the claims comprising the Property and al...

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