TSX Venture Exchange Symbol: EMR
U.S. 20-F Registration: 000-51411
VANCOUVER, Nov. 28 /CNW/ - Emgold Mining Corporation ("Emgold") is
pleased to announce that it has completed 403.86 m (1325 ft) of diamond
drilling in 5 holes on its Stewart Molybdenum Project, located near the
community of Salmo in south-eastern British Columbia. Mineralized breccia
zones were intersected that returned promising molybdenum grades, including a
35.91 metre section of 0.592% MoS2.
The Stewart Molybdenum Property was drilled during the early 1980s by
Shell Minerals and Selco Inc. This work outlined three breccia zones that
contain significant molybdenum mineralization. In 1980, Shell diamond drilled
3 holes and returned a best intercept of 57 metres grading 0.46% MoS2. An
additional 16 holes were drilled in 1981 by Shell Minerals, and 4 by Selco in
1983. The results of this drilling are summarized in the BC Ministry of Energy
and Mines Minfile No. 082FSW229 Report which states that "the (Phase II)
breccia zone contains 204,000 tonnes of 0.37% MoS2". Reports by Selco
indicated the potential for a porphyry style molybdenum deposit adjacent to
this Phase II breccia zone. The historic resource calculation reported here is
not NI 43-101 compliant and must not be relied upon for investment purposes.
The current 5-hole diamond drill program tested the historic drill
results by twinning two of the Shell Minerals 1980-1981 drill holes, drilling
along the breccia trend to the west, and by drilling within the breccia body
that hosts the molybdenum mineralization. Shell Minerals hole numbers 81-3 and
81-9 were twinned by Emgold holes SM05-01 and SM05-02. Drill hole SM05-03 was
drilled in the opposite direction of previous drilling to test geologic
trending, and hole SM05-04 and SM05-05 were drilled through the breccia body
to determine potential grade. Drill hole SM05-04 was discontinued at a shallow
depth due to difficult drilling conditions.
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Results of Emgold's recent drilling are summarized in the table below:
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HOLE NO FROM (ft) TO (ft) WIDTH (ft) MoS2 (%)
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05SM-01 1.00 138.70 137.70 0.051
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Including 46.70 107.10 60.40 0.110
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Including 59.10 62.30 3.20 0.449
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05SM-02 0.00 92.35 92.35 0.059
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including 0.00 26.30 26.30 0.130
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including 0.00 16.15 16.15 0.189
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05SM-03 0.00 85.65 85.65 0.041
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including 66.40 83.80 17.40 0.088
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and 40.00 55.70 15.70 0.068
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and 32.65 36.88 4.23 0.067
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and 16.00 17.00 1.00 0.180
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05SM-04 0.00 13.11 13.11 0.118
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including 10.90 12.00 1.10 0.292
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05SM-05 0.00 75.29 75.29 0.313
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including 37.85 73.76 35.91 0.597
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and 0.00 20.50 20.50 0.091
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Note: Results above presented as MoS2% calculated from Mo% for
consistency with historic exploration results.
The most promising results were returned from Hole SM05-05. This hole
returned 0.313% MoS2 from surface to 75.29 metres, including 35.91 metres of
0.597% MoS2. These compare favourably to the historical results obtained by
Shell Minerals drilling in the mineralized breccia structure that averaged
0.37% MoS2.
The drill results obtained by Emgold compare well to the historical
results from Shell Minerals exploration program. Additional modelling of the
historic and current drilling will be performed by Emgold to validate the
molybdenum resource within the mineralized breccia zone, as well as determine
the potential for a larger low grade enveloping deposit within the host quartz
monzonite porphyry rocks. Results from this drill program are encouraging and
justify additional exploratory drilling to expand our knowledge of the
promising molybdenum mineralization in both the Phase II and Phase I breccia
zones and surrounding porphyry host.
Perry Grunenberg, P.Geo., of P&L Geological Services, is the project
supervisor and "Qualified Person" for the purpose of National Instrument
43-101 who has reviewed and verified the contents of this news release.
For more information about Emgold, its Stewart, Rozan and Jazz Properties
in British Columbia; the Idaho-Maryland Project in California and the
Ceramext(TM) Technology, please visit www.emgold.com or www.sedar.com.
William J. (Bill) Witte, P.Eng.
President and Chief Executive Officer
No regulatory authority has approved or disapproved the information
contained in this news release.
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