Emgold Mining Announces a Significant Increase in New Exploration Targets at the Idaho-Maryland Gold Mine
April 02 2007 - 10:30AM
PR Newswire (US)
TSX Venture Exchange: EMR OTC Bulletin Board: EGMCF U.S. 20-F
Registration: 000-51411 Frankfurt Stock Exchange: EML VANCOUVER,
April 2 /PRNewswire-FirstCall/ -- Emgold Mining Corporation
(EMR-TSX-V) ("Emgold" or the "Company") is pleased to report that
272 new gold exploration targets have been identified since January
2007 at the Idaho-Maryland Gold Mine located in Grass Valley
California. These new gold exploration targets are in addition to
the 26 large conceptual exploration targets and the 216 resource
blocks currently included in the Measured, Indicated and Inferred
Resource categories for the Idaho-Maryland. The 216 resource blocks
previously identified are the highest priority zones for
underground definition drilling to potentially increase the current
resource estimates into the proven and probable reserve categories.
The 216 resource blocks plus the 272 exploration targets are an
indication of the potential magnitude of the Idaho-Maryland Gold
Mine, which the Company believes represents one of the largest
high-grade underground gold exploration targets in North America.
The new exploration targets are being identified from a
computerized assay model that was completed last year. Assay
results from the historic maps and operating data were digitized
and entered into the MineSight(R) computer modeling program. This
work, in addition to other computerized historic geologic and
mining data, is assisting the Company's geological staff in making
significant progress to identify areas that may have additional
exploration potential. Geological evaluations are continuing and it
is anticipated that additional exploration targets and resources
may be defined in the near future. The Idaho-Maryland Gold Mine,
discovered in 1851, produced gold from 1862 through 1956 and is the
second largest historical underground gold producer in California.
There were 55 production targets identified at the time the mine
shut down due to the low price of gold. The recorded production was
2,383,000 ounces of gold from 5,546,000 short tons for a recovered
grade of 0.43 ounces of gold per short ton. The historic workings
extend down 3,280 feet from surface although there were plans to
mine to the 5,200 level. The Idaho-Maryland ore body remains open
at depth for further exploration and development. The 272 new
exploration targets are zones of gold mineralization on established
historic mine levels or in drill holes where extensive mining and
stoping did not take place. The targets are derived from historic
assay and geologic maps that show the results of sampling of quartz
veins and mineralized rock units. Many targets are situated near
known gold resources, some are near intensively mined areas, and
many are on mine levels that were developed but never stoped. These
exploration targets are significant indicators of deep extensions
of known high-grade quartz veins, such as the famous Idaho 1 Vein,
(which produced one-million ounces of gold from one million tons
over 30 years) and demonstrate that the high-grade veins extend
beyond and below the areas previously mined. The new targets are
located on Idaho veins from the Idaho 600 Level to the Idaho 2400
Level, and have grades that should be at or above 0.10 ounce per
ton gold. Illustrations of the Idaho-Maryland resource blocks and
newly identified exploration targets are presented on Emgold's
website at http://www.emgold.com/ or please click here to view
(http://www.emgold.com/s/ExplorationTargets.asp). These newly
defined exploration targets are not yet qualified as resource
blocks, although some are expected to meet that criterion and may
be classified as resource blocks after further review. Sixteen
inferred resource blocks containing 50,000 ounces of gold were
advanced from exploration targets to inferred resource blocks after
further modeling. These inferred resource blocks were announced in
Emgold's news release of March 1, 2007. All geological work on the
Idaho-Maryland Mine is under the supervision of Mr. Robert Pease,
Professional Geologist (California), Chief Geologist for the
Idaho-Maryland Project and a Qualified Person as defined in
National Instrument 43-101. For more information about Emgold, the
Stewart, Rozan and Jazz Properties in British Columbia, the
Idaho-Maryland Project and Golden Bear Ceramics and the
Ceramext(TM) process, please visit http://www.emgold.com/ or
http://www.sedar.com/. On behalf of the Board of Directors, William
J. (Bill) Witte, P.Eng. President and Chief Executive Officer No
regulatory authority has approved or disapproved the information
contained in this news release. This news release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical
facts, that address future production, reserve potential,
exploration drilling, exploitation activities and events or
developments that the Company expects are forward-looking
statements. 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 market prices, exploitation and
exploration successes, and 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 that actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's filings that are available at
http://www.sedar.com/ or the Company's website at
http://www.emgold.com/. CONTACT: Michael O'Connor, Manager,
Investor Relations, Tel: (604) 687-4622, Fax: (604) 687-4212,
Email: DATASOURCE: Emgold Mining Corporation CONTACT: Michael
O'Connor, Manager, Investor Relations, Tel: (604) 687-4622, Fax:
(604) 687-4212, Email:
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