Frankfurt and Berlin Exchanges : EMLM Emgold Provides Exploration Update For its New York Canyon Property, NV
EMGOLD MINING CORPORATION
Suite 1010 – 789 West Pender Street
Vancouver, B.C. V6C 1H2
www.emgold.com
October 4, 2021 TSX Venture Exchange : EMR
OTCQB : EGMCF
Frankfurt and Berlin Exchanges : EMLM
Emgold Provides Exploration Update
For its New York Canyon Property, NV
Vancouver, British Columbia, October 4 , 2021 – Emgold Mining Corporation (TSXV:EMR,
OTC:EGMCF, FRA:EMLM, BSE:EMLM) (“Emgold” or the “Company ”) is pleased to announce
assay results from four exploration diamond core holes and re -assay results from nine historic diamond
core holes drilled at its New York Canyon Property, NV (the “Property”). Exploration activities are being
carried out by the Company’s partner, Kennecott Exploration Company (“KEX”), a subsidiary of Rio Tinto
plc (NYSE:RIO).
The Property is an advanced stage exploration project consisting of three main copper targets which were
first explored in the mid -1960’s, with the last historic drilling completed in 2006. These historic targets,
situated west to east respectively, are called Copper Queen, Champion, and Longshot Ridge.
The Property is subject to an Earn-In with Option to Joint Venture Agreement (the “Agreement”) between
Emgold and KEX first announced by press release on February 11, 2020. KEX can earn up to a 75%
interest in the Property by completing up to US$22.5 million in exploration expenditures. Under the terms
of the Agreement, KEX has a First Option to acquire a 55% undivided interest in the Property by incurring
US$5.0 million in expenditures over a 5-year period, of which US$1.0 million is a committed expenditure
that must be completed prior to the 18-month anniversary of the Agreement. To date, KEX has completed
the US$1.0 million committed expenditure and is in the process of completing the First Option.
Significant intercepts from the first four of 10 currently planned drill holes for 2021 on the Property are
summarized in Table 1.
Table 1
New York Canyon Property
Significant Drill Intercepts for Drill Holes NYCN0001 to NYCN0004
(Assay intervals greater than or equal to 0.1% CuEq and lengths greater than 10 m)
Hole ID From To Length(1) CuEq(2)
(m) (m) (m) %
NYCN0002 110.03 204.38 94.35 0.333
and 457.60 506.94 49.34 0.273
and 544.00 716.28 172.28 0.169
NYCN003 123.50 134.00 10.50 0.163
and 161.00 200.00 39.00 0.312
and 344.00 362.00 18.00 0.168
(1) True widths unknown.
(2) Copper equivalent grades are calculated based on US$3.00 per lb Cu, US$10.00 per lb Mo, US$19.00 per oz Ag, and US$1,750 per oz
Au approximating average prices for those metals over the previous three years. No adjustment has been made for recovery.
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In addition, KEX has re- assayed core from nine historic drill holes stored on the Property. Significant
intercepts from six of these re-assayed drill holes received to date are shown in Table 2.
Table 2
New York Canyon Property
Significant Drill Intercepts from Re-Assayed Historic Drill Holes
(Assay intervals greater than or equal to 0.1% CuEq and lengths greater than 10 m)
Hole ID From To Length(1) CuEq(2)
(m) (m) (m) %
MN-1 15.24 73.15 57.91 0.686
MN-15 166.42 192.02 25.60 0.185
MN-42 106.68 505.97 399.29 0.443
MN-44 45.72 57.91 12.19 0.374
and 112.78 158.50 45.72 0.220
and 173.74 192.02 18.28 0.159
MM-46 45.72 57.91 12.19 0.107
and 112.78 158.50 45.72 0.413
and 173.74 192.02 18.28 0.303
MN-209 0.00 45.72 45.72 0.183
and 176.78 240.79 64.01 0.263
(1) True widths unknown.
(2) Copper equivalent grades are calculated based on US$3.00 per lb Cu, US$10.00 per lb Mo, US$19.00 per oz Ag, and US$1,750 per oz
Au approximating average prices for those metals over the previous three years. No adjustment has been made for recovery.
Details on the 2021 exploration program, to date, are outlined below. David Watkinson, President and CEO
of Emgold, stated, “We are grateful to have KEX as a partner to explore the New York Canyon Property
and are excited by the results to date that indicate the potential for a larger copper skarn and p orphyry
system on the Property. KEX is taking a systematic approach to exploring the Property, including geologic
and structural mapping, geophysics, drilling, and other exploration work. KEX has doubled the size of its
initial planned drilling program f rom five hole in 2021 and is now expected to complete at least 10 holes
prior to year -end. We look forward to receiving and releasing additional exploration results in the near -
future.”
About the Property
The Property currently consists of 417 unpatented claims and 21 patented claims totaling approximately
8,700 acres. It is located in the Santa Fe Mining District, Mineral County, west-central Nevada, and about
30 mi. (48 km) east of the town of Hawthorne. KEX is exploring the Property to expand the copper skarn
and copper porphyry mineralization. Total historic drilling on the Property, prior to the current drill
program, is 234 holes totaling about 43,000 m (139,000 ft).
The Property is an advanced stage exploration project consisting of three main copper targets which were
first explored in the mid -1960’s, with the last historic drilling done completed in 2006. These historic
targets, situated west to east respectively, are called Copper Queen, Champion, and Longshot Ridge. A
claim map showing the location of these targets is shown in Figure 1.
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Figure 1
New York Canyon Property
Claim Map and Exploration Target Areas
Claim map excludes a block of 27 non-contiguous claims to the north that make up part of the property (the North Block).
Historic Exploration on the Property
From Copper Queen on the west side of the Property to Longshot Ridge on the east side, is a length of 6.4
km (4.0 miles). The average width of the known mineralization is 3.2 km (2.0 miles). Copper
mineralization, including skarn and porphyry, has been found in all three deposits.
Copper Queen Target
Historic exploration by Conoco in the 1970’s and 1980’s defined copper s ulfide skarn and porphyry
mineralization at the Copper Queen prospect. Drilling reported in a May 10, 1979 internal report included
a significant interval of chalcopyrite and molybdenite mineralization in drill- hole MN-42, drilled in 1977.
MN-42 intersected 1,020 ft (310.9m) of 0.41% Cu, 0.012% Mo, 4.5 ppm Ag, and 0.1 ppm Au from 560 ft
(170.7 m) to 1,580 ft (481.6 m) (true width unknown). Note this hole was drilled prior to the implementation
of NI 43-101 Standards of Disclosure for Mineral Projects and QA/QC procedures are unknown. KEX re-
assays of MN-42 reported 1,310 ft (399.3 m) of 0.443 CuEq as shown in Table 2, with additional details on
individual metal assays shown in Table 9 below.
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Champion
The Champion prospect was explored from the late 1960s through the 1970s, although apparently to a lesser
extent than Copper Queen and Longshot Ridge. Historic core drilling intersected oxide and sulfide copper
skarn mineralization, but historical mineral resources were not delineated.
Longshot Ridge
Oxide skarn mineralization has been drilled at the Longshot Ridge target by various operators since the
1960’s. Most recently, Searchlight Resources Inc. ( TSXV: SCLT) (formerly known as Canyon Copper
Corporation and Aberdene Mines Limited) drilled the proper ty between 2004 and 2006 and completed a
2010 Technical Report. Searchlight defined an indicated resource of 16.3 million tons (14.8 million tonnes)
of 0.43% Cu and an inferred resource of 2.9 million tons (2.6 million tonnes) of 0.31% Cu solely in the
Longshot Ridge copper oxide skarn area. A cut -off grade of 0.20% Cu was used. Emgold’s Q ualified
Person has not audited or verified this resource as a current mineral resource and Emgold is therefore
treating this resource as a historical estimate according to NI 43-101 Standards of Disclosure. The 2010
Technical Report can be found under Searchlight’s corporate filings at www.sedar.com.
Other Targets
The Ideal target is located south of Copper Queen and underlies alluvi um. The actual date of its discovery
is unknown at this time, although it appears in a 1997 report and map. Ideal appears to be a previously
untested geophysical anomaly. Kennecott drilled hole one hole (NYCN0001) into this target and assay
samples from this hole did not encounter significant copper values.
2021 Drilling Program to Date by KEX
Kennecott’s current plans (as of this press release) are to drill 10 core holes at the Property in 2021 (subject
to adjustment). A total of nine holes have been completed to date and drilling of a tenth hole is in progress.
Assays have been received for four holes. The status of the current drilling program is shown in Table 3.
Table 3
New York Canyon Property
Drill Program Status
Hole or
Planned
Hole
Target Depth or
Planned
Depth in
Meters
Drilling
Status
Logging
Status
Samples
Sent to
Lab
Assays
Back
from
Lab
Assays
Tabulated
&
Analyzed
NYCN0001 Ideal 347.78 Complete Complete Yes Yes Yes
NYCN0002 Copper Queen 716.28 Complete Complete Yes Yes Yes
NYCN0003 Copper Queen 390.14 Complete Complete Yes Yes Yes
NYCN0004 Copper Queen 348.00 Complete Complete Yes Yes Yes
NYCN0005 Copper Queen 318.52 Complete Complete Yes No
NYCN0006 Longshot 503.53 Complete In Progress 0-132m No
NYCN0007 Longshot 421.38 Complete In Progress No No
NYCN0008 Copper Queen 410.56 Complete In Progress No
NYCN0009 Copper Queen 473.81 Complete Not Started
NYCN0010 Copper Queen 550.00(1) In Progress Not Started
(1) Planned depth
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Seven holes have targeted the Copper Queen area. Two holes have targeted the Longshot Ridge area. No
holes were drilled in the Champion area. A geophysical anomaly, called Ideal, was targeted with one drill
hole and is located to the south of the Copper Queen area. The location of the nine drill holes drilled to
date and ten drill holes re-assayed by KEX (discussed below in this press release) are shown in Figure 2.
Figure 2
New York Canyon Property
Location of KEX 2021 Drill Holes and Re-Assayed Drill Holes
Detailed information about the drill holes is shown in Table 4.
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Table 4
New York Canyon Property
Drill Hole Information
Drill Hole
Number
Easting Northing Elevation
(m)
Azimuth
(degrees)
Dip
(degrees)
Target Depth
(m)
Actual Depth
(m)
NYCN0001 401942 4262189 1,421.1 142 -80 400 347.8
NYCN0002 401856 4263182 1,444.8 212 -80 700 716.3
NYCN0003 401552 4263273 1,419.3 119 -80 700 390.1
NYCN0004 401894 4263282 1,449.6 360 0 700 348.4
NYCN0005 401915 4263365 1,445.0 360 0 700 318.5
NYCN0006 406247 4262339 1,924.1 70 -85 500 503.5
NYCN0007 405693 4261637 1,901.2 340 -70 750 421.4
NYCN0008 402663 4262635 1,493.9 300 -70 400 410.6
NYCN0009 401795 4263750 1,438.0 360 0 700 473.81
NYCN0010 401974 4263660 1,469.0 200 -70 550 In progress
Results from the drilling are shown in Table 5 . NYCN0001 drilled into the Ideal geophysical target
intersected a magnetic anomaly with no significant copper mineralization. NYCN0002 was a step-out hole
from historic hole MN -42 and showed several long -mineralized skarn intercepts including 94.35 m of
0.333% CuEq, 49.34 m of 0.273% CuEq, and 172.28 m of 0.169% CuEq. NYCN0003 and NYCN0004
also showed numerous intercepts greater than or equal to 0.1% CuEq.
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Table 5
New York Canyon Property
Drilling Results
Drill Intercepts Greater than 0.1% CuEq
Drill Holes NYCN0001 to NYCN0004
Hole ID From To Length(1) Cu Mo Ag Au CuEq
(m) (m) (m) % % g/t g/t %(2)
NYCN0001 No Significant Intercepts
NYCN0002 59.00 59.80 0.80 0.134 0.001 0.535 0.005 0.144
and 62.61 67.15 4.54 0.206 0.002 0.045 0.011 0.218
and 96.57 101.37 4.80 0.207 0.000 0.043 0.012 0.211
and 110.03 204.38 94.35 0.288 0.007 2.378 0.019 0.333
and 243.00 244.29 1.29 0.132 0.002 0.917 0.008 0.148
and 420.37 422.00 1.63 0.013 0.028 0.528 0.002 0.110
and 457.60 506.94 49.34 0.234 0.006 1.893 0.020 0.273
and 519.29 521.42 2.13 0.198 0.003 1.000 0.009 0.216
and 533.28 535.30 2.02 0.235 0.005 1.121 0.008 0.263
and 544.00 716.28 172.28 0.116 0.012 1.175 0.003 0.169
NYCN0003 100.50 104.00 3.50 0.234 0.005 1.412 0.015 0.265
and 116.00 117.50 1.50 0.092 0.005 0.799 0.004 0.118
and 123.50 134.00 10.50 0.134 0.006 1.103 0.011 0.163
and 140.00 141.50 1.50 0.081 0.005 0.826 0.004 0.107
and 155.00 156.50 1.50 0.113 0.002 1.405 0.006 0.134
and 161.00 200.00 39.00 0.276 0.004 2.241 0.013 0.312
and 245.00 247.00 2.00 0.016 0.032 0.382 0.004 0.125
and 323.00 325.00 2.00 0.025 0.021 0.669 0.005 0.102
and 344.00 362.00 18.00 0.056 0.030 1.183 0.005 0.168
NYCN0004 50.00 56.00 6.00 0.114 0.005 2.534 0.005 0.155
and 81.50 83.00 1.50 0.119 0.004 0.680 0.003 0.138
and 86.00 95.50 9.50 0.172 0.002 1.861 0.011 0.198
and 109.81 114.03 4.22 0.240 0.002 2.238 0.017 0.269
and 129.22 133.30 4.08 0.156 0.004 1.101 0.011 0.181
and 140.92 147.02 6.10 0.382 0.005 2.533 0.015 0.423
and 309.00 312.00 3.00 0.013 0.001 14.550 0.001 0.157
and 347.00 348.38 1.38 0.086 0.008 0.803 0.009 0.120
(1) True widths unknown.
(2) Copper equivalent grades are calculated based on US$3.00 per lb Cu, US$10.00 per lb Mo, US$19.00 per oz Ag, and US$1,750 per oz
Au approximating average prices for those metals over the previous three years. No adjustment has been made for recovery.
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2021 Re-Assay Program by KEX
Historic drill core from past drilling programs is stored on the Property. KEX re-assayed selected holes
and in some cases selected core intervals of the historic drill core. Table 6 shows details of the original
drill holes that were re-assayed by KEX.
Table 6
New York Canyon Property
Re-Assay Drill Hole Information
Drill Hole Easting Northing Elevation Azimuth Dip Total Depth Date Drilled
Number (m) (degrees) (degrees) (m)
MN-1 402200.7 4262251.0 1,606.5 360 -90 79.9 1972
MN-15 402469.7 4264236.8 1,634.3 360 -90 732.1 1972
MN-27 398967.1 4262313.1 1,470.4 360 -90 717.5 1972
MN-42 398095.8 4266557.6 1,484.4 360 -90 600.6 1977
MN-44 397684.4 4266680.7 1,435.0 360 -90 609.9 1979
MN-46 399090.8 4263465.6 1,481.0 360 -90 200.6 1980
MN-202 406021.4 4252144.3 1,810.5 360 -90 274.3 1979
MN-209 405685.4 4262326.0 1,981.6 360 -90 422.1 1979
MN-221 405531.5 4262038.0 1,976.2 360 -90 824.5 1979
Table 7 shows the selected intervals that were re-assayed by KEX. Note that MN-202 and MN -221 were
selectively sampled with representative 0.2 m long core samples taken at selected intervals which were re-
assayed and used for isotope testing.
Table 8 shows the status of the re-assay program. Re-assay information has been received from all holes
except MN-27 to date.
Table 9 includes assay results from the re-assay program. Of particular note is the re-assay of MN-42,
drilled in 1977, which was reported as intersecting 1,020 ft (310.9 m) of 0.41% Cu, 0.012% Mo, 4.5 ppm
Ag, and 0.1 ppm Au from 560 ft (170.7 m) to 1,580 ft (481.6 m) (true width unknown). The re-assay results
in Table 9 show 399.29 m of 0.341% Cu, 0.012% Mo, 3.301 ppm Ag, and 0.036 ppm Au. As a direct
comparison, for the exact corresponding re-assay interval in MN-42 (from 170.7 m to 481.6 m representing
310.9 m in length), re -assay results of 0.381% Cu, 0.014% Mo, 3.666 ppm Ag, and 0.041 ppm Au were
obtained. Note that hole MN-42 was drilled in 1977 and the core has been stored for about 44 years on the
Property. The impact of storage on the core over this length of time on assay results is difficult to ascertain.
Historic assays were done before the implementation of NI 43-301. Lab detection limits for silver and gold
are significantly different than those used in historic lab work. The historic ve rsus re-assay results are
relatively comparable.
Note that re-assay intervals tried to copy historic assay intervals from work done in the 1970’s. In addition,
lab detection limits for gold and silver used today are much lower. However, internal analys is shows that
where selective assay intervals could be compared with historic intervals on a footage-to-footage basis, the
results were comparable.