Vancouver, British Columbia – Emgold Mining Corporation (TSXV: EMR) (“Emgold” or the “Company“) is pleased to note that Troilus Gold Corporation (TSX: TLG) (“Troilus Gold”) has reported new drill results from its 2019 exploration program at its Troilus Gold Project, located within the Frotêt-Evans Greenstone Belt in Quebec, Canada. Intercept highlights reported include:
- 136 metres of 1.10 g/t AuEq, including 6 metres of 11.36 g/t AuEq and 6 metres of 4.46 g/t AuEq in hole TLG-ZJ419-094; and
- 90 metres of 0.91 g/t AuEq, including 12 metres of 1.32 g/t AuEq and 16 metres of 1.37 g/t AuEq in hole TLG-ZJ419-103.
Emgold has a strategic investment in Troilus Gold of 3.75 million common shares, representing 6.2% of the issued and outstanding share capital of Troilus Gold. Details of all the drilling results and QA/QC program can be found in Troilus Gold’s press release, dated May 7, 2019 on Troilus Gold’s website at www.troilusgold.com or on its company’s corporate filing at www.sedar.com.
Troilus Gold states that the 2019 drilling program has been designed, in part, to extend the near surface mineralization down dip in the J Zone of the Troilus Gold Project, specifically below the J4 open pit. The new intercepts in this zone are successfully showing a clear continuation of the typical gold bearing lithology that defined the 2018 open pit resource estimate. Furthermore, results are showing a potential thickening of mineralization in the lower levels of the 2018 whittle constraining shell used in that resource estimate.
Troilus Gold intends to drill over 40,000 meters as part of its 2019 exploration program, targeting zones Z87, Z87 South, the J Zone and J4 North (see Troilus Gold press release dated February 7, 2019 for an overview of mineral zones and drill targets).
The scientific and technical information in this news release was reviewed and approved by Alain Moreau, P. Geo., Director of Exploration, a qualified person as defined by NI 43-101.
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, an 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.
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 exploration, development, or mining activities on the Emgold’s Properties, exploration on the Troilus Gold Property completed by Troilus Gold Corporation, 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.