Mar. 5, 2009 (Baystreet.ca) --
Vancouver BC – March 5, 2009 – The Smartstox Online TV Talk Show is alerting its subscribers and other resource stock investors to Emgold Mining Corporation’s (TSX VENTURE:EMR) (OTCBB:EGMCF) (FRANKFURT:EML) just-released Shareholder’s Update about their proposed redevelopment of the Idaho-Maryland gold mine in Grass Valley, California.
The public comment period for the Draft Environmental Impact Report closed on January 20th, 2009, and now the City of Grass Valley and their consultants are compiling and analyzing the comments they received. Approval of a Final Environmental Impact Report, anticipated this summer, is the key remaining milestone to obtaining a Conditional Use Permit.
The renowned Idaho-Maryland gold mine recorded production of 2,383,000 ounces of gold at a grade of 0.43 ounces of gold per short ton between 1862 and 1956. A NI 43-101 Report on the property calculated it holds a Measured and Indicated Mineral Resource of 1.666 million tons at 0.28 opt gold containing 472,000 ounces of gold, and Inferred Resources of 2.526 million tons grading 0.38 opt gold for an additional 952,000 ounces of gold.
There were 55 production targets identified at the time the mine shut down due to the low price of gold, and Emgold has currently identified 272 new exploration targets in zones of gold mineralization on established historic mine levels or in drill holes where extensive mining and stoping did not take place.
The reopening of the Idaho-Maryland Mine will employ in excess of 400 people for over 20 years, generating significant local, state, and federal tax dollars; it will also provide the further environmental benefit of cleaning up an existing legacy mine site.
Host Stanlie Hunt heard more about the Idaho-Maryland and Grass Valley’s interest in its revitalization in our new Smartstox Interview with Jeff Stuart, Manager of Business Development of Emgold Mining Corporation, at http://www.smartstox.com/interviews/emr.
Smartstox also recently talked with market analyst David Bensimon who believes that in the next few months the equity market will be gaining significant strength. He anticipates the industrial metals will similarly be starting a “huge run” in the second quarter of this year. Our interview with Mr. Bensimon can be heard at http://www.smartstox.com/analyst/david_bensimon.
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Contact:The Smartstox Online Talk ShowStanlie Hunt, President(604) 628-4592 or (416) 628-4841info@smartstox.com
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