Emgold Announces Commencement of its 2011 Core Drilling Program-Stewart Property, B.C.
23 August 2011 - 11:30PM
Marketwired Canada
Emgold Mining Corporation (TSX VENTURE:EMR)(PINK SHEETS:EGMCF)(FRANKFURT:EML)
("Emgold" or the "Company") is pleased to announce that it has obtained the
necessary exploration permits and has commenced its 2011 field exploration
program for its Stewart Property, B.C. In December 2010, Emgold raised
CDN$500,000 in flow through funding for exploration work at Stewart in 2011. The
Company plans to use these funds to drill and potentially expand the Stewart
Moly Zone, with a goal of ultimately defining a National Instrument 43-101 (NI
43-101) compliant molybdenum resource. Emgold plans to drill approximately 20
holes totaling 2,700 meters to complete this drill program, subject to field
results.
The Stewart Property is located in the Nelson mining district, near Salmo, B.C.,
and is an attractive poly-metallic exploration property. It contains a variety
of styles and types of mineralization, with targets identified in different
areas within the property. Targets include the Stewart Moly Zone, the Arrow
Tungsten Zone, the Craigtown Gold Zone, and the Free Silver Zone.
Stewart Moly Zone
Previous exploration of the Stewart Moly Zone has included geological mapping,
soil and rock geochemistry, geophysics, trenching and drilling. The most
extensive of those historic programs was conducted by Shell Canada Resources in
1980-1981 and Selco Inc. in 1983. The two companies were searching primarily for
molybdenum and drilled 23 holes in the area.
In 1980 Shell drilled three diamond drillholes and in 1981 another 16 diamond
drillholes and defined a narrow, steep dipping podiform breccia zone based on
four of those holes. Historic information available from the Shell program
includes assessment and project reports, drill logs, assay laboratory reports
and summaries of the sampling and assaying procedures. Details of the sampling
methods, handling, and quality control methods are unknown, and the historic
drilling results cannot be verified for the purposes of NI 43-101. Therefore
this information is not NI 43-101 compliant and should not be relied upon for
investment purposes. This information, however, is a useful guide for current
exploration by the Company's geologists. The following table shows historic
results in the known mineralized zone.
Stewart Moly Zone
Shell Canada Drilling Results
---------------------------------------------------------------------------
Hole From To Azimuth Dip Length MoS(2) Mo
Number (m) (m) (Degrees) (Degrees) (m) (%) (%)
---------------------------------------------------------------------------
80-3 2.0 20.0 0 -90 18.0 0.737 0.442
---------------------------------------------------------------------------
80-3 29.0 54.0 0 -90 25.0 0.233 0.140
---------------------------------------------------------------------------
81-1 28.1 50.1 150 -45 22.0 0.231 0.138
---------------------------------------------------------------------------
81-3 0.6 50.6 140 -45 50.0 0.113 0.067
---------------------------------------------------------------------------
81-9 58.0 128.0 157 -45 70.0 0.331 0.198
---------------------------------------------------------------------------
Emgold acquired the Stewart Property in 2001 and continued evaluation of the
Stewart Moly Zone in 2005 and 2007. Geochemical sampling, geophysics, trenching,
and drilling programs were completed to check historic work and further assess
the strong molybdenum and other mineralization in the area. The Company drilled
eight holes in the area, two of which were twin holes adjacent to historic
drilling. The results of the twin holes compared favorably to the original Shell
drillholes. A table of Emgold's results in or near the known mineralized zone is
shown below.
Stewart Moly Zone
Emgold Drilling Results
---------------------------------------------------------------------------
Hole From To Azimuth Dip Length MoS(2) Mo
Number (m) (m) (Degrees) (Degrees) (m) (%) (%)
---------------------------------------------------------------------------
SM05-01 1.0 138.7 157 -45 137.70 0.051 0.031
---------------------------------------------------------------------------
SM05-02 0.0 92.35 140 -45 92.35 0.059 0.035
---------------------------------------------------------------------------
Including 0.0 16.15 140 -45 16.15 0.180 0.108
---------------------------------------------------------------------------
SM05-04 0.0 13.11 55 -60 13.11 0.118 0.071
---------------------------------------------------------------------------
SM05-05 0.00 75.29 47 -55 75.29 0.313 0.188
---------------------------------------------------------------------------
Including 37.85 73.76 47 -55 35.91 0.597 0.358
---------------------------------------------------------------------------
STW 07-03 54.86 79.25 210 -51 24.39 0.514 0.308
---------------------------------------------------------------------------
For additional details on drilling by Emgold, see press releases of Nov. 28
and 29, 2005, and Nov. 28, 2007.
The Stewart Moly Zone, as currently interpreted from geologic modeling using
MineSight(R) software, is a mineralized block approximately 200 meters long,
with widths of up to 80 meters. It is exposed at the ground surface and drilling
to date indicates a depth of 150 meters. The zone is open to expansion to the
south and at depth.
Emgold's geologists utilized a strict quality assurance plan during the 2005 and
2007 exploration programs that included communication with contractors about the
needs for appropriate quality assurance, procurement of supplies and services
capable of delivering the desired level of quality, sample handling to ensure
integrity, inspection and testing to ensure that all work met or exceeded
quality criteria, using methods that reduced the potential for errors, proper
training of staff, and statistical analysis that ensured quality criteria were
met.
Drill core was stored in a secure facility, and then shipped by trucking company
from the site directly to either ACME Labs Ltd., or Assayer Canada Ltd., both in
Vancouver, BC. All sample preparation was done at the laboratory by their staff
and both laboratories were registered with ISO 9001:2000 accreditation. The
assay laboratories catalogued all samples and maintained a complete chain of
custody of each sample through the analytical process. Samples were analyzed by
multi-acid leach ICP-MS providing ultra-low detection for most elements of
interest. As part of their quality assurance, these laboratories incorporated
assaying standards, test blanks and duplicate analyses of samples, and would
resolve situations if the analysis of duplicates or standards was not within
allowable levels of variation. Each batch of assays included 24 samples, 3
duplicates, one blank and two standards, and the analysis was repeated if the
duplicates or the standards did not match the expected values. Qualified Person
and consulting geologist Perry Grunenberg personally monitored procedures for
sample collection and delivery to the trucking company, and also supervised both
exploration programs.
Additional work is needed to make Stewart compliant with NI 43-101. This
includes drilling twin holes and assaying samples to verify grades of the
historic drilling, infill drilling to develop geologic continuity of the
mineralization, and step-out drilling to expand or determine the limits of the
molybdenum mineralization. The 2011 exploration program is expected to
accomplish some of these tasks.
David Watkinson, President and CEO of Emgold stated, "The Stewart Property
represents a highly prospective exploration property with a variety of exciting
targets. Emgold is currently focused on completing core drilling with the
objective of defining an NI 43-101 compliant molybdenum resource in the Stewart
Moly Zone to improve the value of the property."
Information in this news release that is of a scientific or technical nature was
prepared by or under the supervision of Perry Grunenberg, P.Geo., an independent
consultant to the Company. He is a Qualified Person as defined in National
Instrument 43-101 and is supervising the current exploration program.
For more information about Emgold, the Idaho-Maryland Gold Project and the
Buckskin Rawhide, Stewart, and Rozan Properties, please visit: www.emgold.com
On behalf of the Board of Directors
David G. Watkinson, P.Eng., President & CEO
This release was prepared by the Company's management.
This news release includes certain statements that are "forward-looking
statements" within the meaning of applicable securities laws including
statements regarding the Company's planned work programs, drilling programs,
expected results and potential mineralization and resources, potential expansion
of mineralized zones and goals of defining a NI 43-101 compliant resource on the
Stewart Property. Forward-looking statements are based on certain assumptions of
the Company, including that the Company has adequate capital to fund its
proposed drilling program, that actual results of exploration and development
activities are consistent with management's expectations, that assumptions
relating to mineral resource estimates are accurate and that the Company is able
to procure equipment and supplies for its planned work programs. Although the
Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in the forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements include
exploration results that are different than those anticipated, inability to
raise or otherwise secure capital to fund planned programs, changes to metal
prices, the price of the Company's shares, the costs of labour, equipment and
other costs associated with exploration, availability of drilling equipment and
operators, development and mining operations, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. The Company does not intend to update or revise any forward-looking
information whether as a result of new information, future events or otherwise,
except as required by law. For more information on the Company, Investors should
review the Company's filings that are available at www.sedar.com or the
Company's website at www.emgold.com.
U.S. 20-F Registration: 000-51411
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