Vancouver, British Columbia – Emgold Mining Corporation (TSXV: EMR) (“Emgold” or the “Company”) announces it has commenced an exploration program (the “Program”) at its recently optioned Casa South Property, QC (the “Property”). The Program will consist of 3,000 meters of diamond drilling targeting a high priority area defined as the Kama trend. The Kama Trend – a major gold bearing structure approximately 7 km long by 2 km wide is located just south of the Hecla Mining Corporation’s (NYSE: HL) Casa Berardi Mine.
About the Casa South Property
The Property is located approximately 80 kilometers north of the town of La Sarre, Quebec or 105 kilometers west south-west of Matagami in the Casa Berardi township, James Bay Municipality. It is located south of and abutting the Casa Berardi Mine, owned and operated by Hecla. The Property consists of 180 contiguous active mining titles covering a total of 10,061 hectares.
The Property encompasses a lithologic context similar to the Cass Berardi deposit. Its exploration history followed the same stages of evolution over a period of time from the 1960 to 1990 where exploration focused sulfide rich polymetallic deposits similar to the Kidd Creek, Selbaie, or Mattagami deposits discovered in the northern part of the Abitibi belt. Exploration work on the claims was done by companies such as Newmont, Noranda, and Cambior, among others.
Following the discovery of gold close to the Casa Berardi fault in 1981, various geophysical surveys were done on the Property as well as soil and rock chip sampling and drilling looking for similar targets. Over a period of 45 years, about 23,000 meters of drilling was done on the Property in 47 drill holes. A significant database of historic information has been compiled and recent geophysics work has been completed that outlined the three priority targets. Historical results show selective sampling on many holes along the Kama trend where only visible quartz-carbonate veins material was sampled along 5m core intercepts with variable sample preparation procedures.
Emgold management views the exploration target of the Kama Trend as similar to that found at Casa Berardi Mine and Detour Gold Corporation’s (TSX: DGC) Detour Gold Mine and has potential for low grade bulk disseminated mineralization. Note that exploration success at Detour Lake Mine or Casa Berardi Mine does not guarantee exploration success on the Casa South Property.
A technical report on the Property, titled “NI 43-101 Technical Report, Casa Sud Property, NTS 32#06/32E11, Northwestern Quebec, Canada” dated March 8, 2019 had been completed and is available on the SEDAR profile of the Company (the “Technical Report”).
Emgold is a Vancouver based gold exploration and mine development Company with exploration properties located in the Quebec, Nevada, and British Columbia. These include the Golden Arrow, Buckskin Rawhide East, Buckskin Rawhide West, and Koegel Rawhide properties in Nevada, and option to acquire up to a 91% interest in the Casa South Property in Quebec, and the Stewart and Rozan properties located in British Columbia. The Company has a strategic investment of 3.75 million shares of Troilus Gold Corporation (TSX: TLG) who are advancing the Troilus Gold Property in Quebec.
Alain Moreau, P.GEO., a qualified person under the NI 43-101 instrument, has reviewed and approved the content of this press release.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note on Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated results from exploration activities, the discovery and delineation of mineral deposits/resources/reserves and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events.
The Company cautions investors that any forward-looking statements made by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including final acquisition of the Casa South Property, further exploration, development, or mining activities on the Casa South, Property, or its other Properties, operating and technical difficulties in connection with mineral exploration and development activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance of any other current or future property acquisitions or financings and other planned activities, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest interim Management’s Discussion and Analysis and filed with certain securities commissions in Canada. The Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.
The Company does not undertake to update any forward-looking information provided in this press release or Management’s Discussion and Analysis, except as, and to the extent required by, applicable securities laws. For more information on the Company and its business, investors should review the Company’s annual information form and other regulatory filings filed with securities commissions or similar authorities in Canada that are available on SEDAR at www.sedar.com. The Company reviews its forward-looking statements on an ongoing basis and updates this information when circumstances require it.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.