On May 28, 2019, Emgold announced that it had signed a Letter of Intent with Searchlight Resources Inc. (TSX-V: SCLT) to acquire an option to earn a 100 percent interest in the New York Canyon Property, NV. The option gives Emgold the right to acquire 21 unpatented claims and 60 unpatented claims that comprise the Property plus all historic data, subject to any underlying royalties. The Property is an advanced stage base metal exploration property that was explored from the mid-1960’s until the mid- 2000’s for near surface copper oxide skarn mineralization and deeper copper-molybdenum sulfide porphyry mineralization. Three known exploration targets on the southern portion of the Property include Longshot Ridge, Copper Queen, and Champion.
July 04 2019 0Comment