Frankfurt and Berlin Exchanges : EMLM Emgold Provides Exploration Update For its New York Canyon Property, NV Reports 101.89 m of 0.350% CuEq including 17.14 m of 0.734% CuEq
EMGOLD MINING CORPORATION
Suite 1010 – 789 West Pender Street
Vancouver, B.C. V6C 1H2
www.emgold.com
January 26, 2022 TSX Venture Exchange : EMR
OTCQB : EGMCF
Frankfurt and Berlin Exchanges : EMLM
Emgold Provides Exploration Update
For its New York Canyon Property, NV
Reports 101.89 m of 0.350% CuEq including 17.14 m of 0.734% CuEq
Vancouver, British Columbia, January 26, 2022 – Emgold Mining Corporation (TSXV:EMR,
OTC:EGMCF, FRA:EMLM, BSE:EMLM) (“Emgold” or the “Company ”) announce s assay results
from three exploration diamond core holes and re-assay results from one historic diamond core hole drilled
at its New York Canyon Property, NV (the “Property”). Exploration activities are being carried out by
Kennecott Exploration Company (“KEX”), a subsidiary of Rio Tinto plc, in connection with KEX’s earn-
in obligations under the Earn -In with Option to Joint Venture Agreement (the “ Agreement”) between
Emgold and KEX first announced by press release on February 11, 2020.
Key exploration results include:
Hole NYCN0008 intersected 101.89 m of 0.350% CuEq, including 17.14 m of 0.734% CuEq, 4.76 m
of 0.783% CuEq, and 3.00 m of 1.062% CuEq as shown in Table 3 below;
Assay results and favorable rock alteration in h ole NYCN0008 expands one of the three main
exploration targets on the Property, the Copper Queen Target, to the southeast, where it remains open
for further expansion as shown in Figure 2 below; and
Re-assaying of selected core intervals of historic drill hole MN -27, originally drilled in 1972 and
located to approximately 300 m to the west of NYCN0008, reported 30.48 m of 0.300% CuEq, 30.48
m of 0.124% CuEq, and 11.28 m of 0.148% CuEq.
In addition, KEX has selectively re-assayed core from nine historic drill holes drilled in the 1970’s and
stored on the Property since that time. Results from eight of these holes were summarized in the October
4, 2021, press release. This press release summarizes assay results from historic hole MN-27.
Details on this component of the 2021 exploration program are outlined below.
David Watkinson, President and CEO of Emgold, stated, “KEX has wrapped up its 2021 exploration field
work at New York Canyon and we are now awaiting assay results from three diamond drill holes. Results
to date are encouraging with hole NYCN0008 showing higher grade CuEq intercepts as well as expanding
the Copper Queen Target to the southeast. After obtaining the remaining exploration data from its 2021
exploration program, analyzing the results, and completion of a 3- D exploration model in the first half of
2022, KEX plans to continue its exploration efforts at New York Canyon”.
About the New York Canyon Property
The Property currently consists of 417 unpatented claims and twenty-one 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).
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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.
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 (ongoing), of which US$1.0 million is a committed
expenditure that must be completed prior to the 18-month anniversary of the Agreement (completed). To
date, KEX has spent in excess of US$4.2 million in exploration expenditures on the Property.
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).
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Historic Exploration on the Property
From the Copper Queen Target on the west side of the Property to Longshot Ridge Target 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 types, is found in all three deposits.
Copper Queen Target
Historic exploration by Conoco in the 1970’s and 1980’s defined copper sulfide skarn and porphyry
mineralization at the Copper Queen Target. Drilling reported in a May 10, 1979, internal report included a
significant interval of chalcopyrite and molybdeni te 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-assayed MN-42, with assay results summarized in the October 4, 2021, press release. The re-assay
results included 1,310 ft (399.3 m) of 0.341% Cu, 0.012% Mo, 3.3 ppm Ag, and 0.04 g/t Au (0.443 CuEq)
from 350.0 ft (106.7 m to 1,660 ft (506.0 m).
Champion Target
The Champion Target was explored from the late 1960s through the 1970s, but 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 Target
Oxide skarn mineralization has been drilled at the Longshot Ridge T arget 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 Property 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% C u 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.
2021 Drilling Program to Date by KEX
Kennecott’s drilled ten core holes at the Property in 2021. Assays have been received for seven holes. The
status of the current drilling program is shown in Table 1. Seven holes were drilled in the Copper Queen
Target. Two holes were drilled in the Longshot Ridge Target . No holes were drilled in the Champion
Target. A geophysical anomaly, called Ideal, was targeted with one drill hole and is located to the south of
the Copper Queen Target. The location of the ten drill holes drilled to date and te n drill holes re-assayed
by KEX (discussed below in this press release) are shown in Figure 2.
Detailed information about the drill holes is shown in Table 2. Results from the drilling are shown in Table
3. NYCN0005 and NYCN0008 showed intercepts greater than or equal to 0.1% CuEq with lengths greater
than 10 m. NYCN0006 had intercepts greater or equal to 0.1% CuEq, but lengths were all less than 10 m.
- 4 -
Table 1
New York Canyon Property
2021 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 Yes Yes
NYCN0006 Longshot 503.53 Complete Complete Yes Yes Yes
NYCN0007 Longshot 421.38 Complete Complete Yes Partial No
NYCN0008 Copper Queen 410.56 Complete Complete Yes Yes Yes
NYCN0009 Copper Queen 473.81 Complete Complete Yes No No
NYCN0010 Copper Queen 550.47 Complete Complete Yes No No
Figure 2
New York Canyon Property
Location of KEX 2021 Drill Holes and Re-Assayed Drill Holes
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Table 2
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 402091 4263624 1,480.9 360 0 500 550.47
Table 3
New York Canyon Property
Drilling Results
Drill Intercepts Greater than 0.1% CuEq
Drill Holes NYCN0005, NYCN0006 to NYCN0008
Hole ID From To Length Cu Mo Ag Au CuEq
(m) (m) (m) % % g/t g/t %
NYCN0005 47.70 89.93 42.23 0.205 0.002 1.756 0.011 0.228
NYCN0006 32.00 36.22 4.22 0.164 0.000 4.861 0.010 0.213
and 157.50 161.50 4.00 0.053 0.000 13.994 0.022 0.191
and 173.50 175.00 1.50 0.007 0.001 17.400 0.012 0.181
and 300.96 302.50 1.54 0.022 0.041 0.137 0.001 0.159
NYCN0008 20.00 25.00 5.00 0.144 0.006 1.905 0.007 0.181
and 73.15 75.10 1.95 0.105 0.000 0.537 0.004 0.111
and 136.55 147.24 10.69 0.312 0.003 3.641 0.025 0.358
and 163.90 164.89 0.99 0.129 0.000 0.417 0.004 0.134
and 179.60 281.49 101.89 0.178 0.046 1.916 0.009 0.350
including 196.00 199.00 3.00 0.004 0.317 0.122 0.003 1.062
including 216.86 234.00 17.14 0.360 0.101 3.604 0.024 0.734
including 255.00 259.76 4.76 0.538 0.054 6.587 0.032 0.783
and 340.46 343.69 3.23 0.067 0.013 0.611 0.002 0.117
and 356.10 362.98 6.88 0.232 0.016 2.260 0.006 0.308
including 361.78 362.98 1.20 0.972 0.010 8.730 0.014 1.089
and 394.58 395.59 1.01 0.228 0.006 3.210 0.006 0.279
and 405.00 408.00 3.00 0.086 0.013 0.784 0.003 0.135
(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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Significant assays, defined in this press release as intervals greater than 0.1% CuEq with lengths greater
than 10 m are bolded in Table 3. They include:
42.23 m of 0.228% CuEq in NYCN0005 from 47.70 m to 89.93 m;
10.69 m of 0.358% CuEq in NYCN0008 from 136.55 m to 147.24 m; and
101.89 m of 0.350% CuEq in NYC0008 from 179.60 m to 281.49 m including 17.14 m of 0.743%
CuEq from 216.86 m to 234.00 m.
2021 Re-Assay Program by KEX
Historic drill core from past drilling programs is stored on the Property. K EX re-assayed selected holes
and in some cases selected core intervals of the historic drill core in a specific drill hole . Table 4 shows
details of the historic drill holes that were re-assayed by KEX. MN-27, MN-42, MN-44, and MN-46 are in
the Copper Queen Target, MN-1 and MN-15 are in the Champion Target, and MN-202, MN-209, and MN-
221 are in the Longshot Ridge Target.
Table 4
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 5 shows the status of the re-assay program. Re-assay information has been received from all holes.
Table 5
New York Canyon Property
Re-Assay Program Status
Hole ID Target Depth
in Meters
Logging
Status
Samples
Sent to Lab
Assay
Back from Lab
Tabulated
& Analyzed
MN-1 Champion 79.9 Not re-logged Yes Yes Yes
MN-15 Champion 732.1 Complete Yes Yes Yes
MN-27 Copper Queen 717.5 Not re-logged Yes Yes Yes
MN-42 Copper Queen 600.6 Complete Yes Yes Yes
MN-44 Copper Queen 609.9 Not re-logged Yes Yes Yes
MN-46 Copper Queen 200.6 Not re-logged Yes Yes Yes
MN-202 Copper Queen 274.3 Complete Yes Yes Yes
MN-209 Longshot Ridge 422.1 Complete Yes Yes Yes
MN-221 Longshot Ridge 824.5 Complete Yes Yes Yes
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Results from all re-assayed holes, except MN-27, were summarized in the October 4, 2021, press release.
This press release contains results only from MN-27.
Table 6 shows the selected intervals that were re-assayed by KEX in MN-27 and Table 7 shows the assay
results for MN-27. The impact of storage on the core over this length of time on assay results is difficult
to ascertain.
Table 6
New York Canyon Property
Re-Assay Intervals from Historic Drill Hole MN-27
Hole ID From To Length
(m) (m) (m)
MN-27 1.524 30.0 28.5
and 39.6 152.6 112.9
and 168.9 173.4 4.6
and 191.7 203.6 11.9
and 206.5 239.4 32.9
and 242.0 245.1 3.0
and 248.3 260.6 12.3
and 268.5 289.6 21.0
and 304.2 384.7 80.5
and 387.4 396.2 8.8
and 399.9 454.2 54.3
and 459.0 461.8 2.7
and 467.0 484.6 17.7
and 487.7 501.7 14.0
and 510.7 522.4 11.7
and 525.5 528.5 3.0
and 546.5 588.3 41.8
and 604.7 607.5 2.7
and 609.6 612.3 2.7
and 617.5 628.8 11.3
and 635.2 644.0 8.8
and 652.6 655.0 2.4
and 658.1 667.5 9.4
and 670.6 676.7 6.1
and 679.7 684.3 4.6
and 713.5 717.5 4.0
Significant assays, defined in this press release as intervals greater than 0.1% CuEq with lengths greater
than 10 m are bolded in Table 7. They include 30.48 m of 0.300% CuEq from 97.54 m to 128.02 m, 30.48
m of 0.124% CuEq from 326.14 m to 356.62 m, and 11.28 m of 0.148% CuEq from 617.52 m to 628.80 m
in MN-27.
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Table 7
New York Canyon Property
Re-Assay Results
Drill Intercepts Greater than 0.1% CuEq
Drill Hole MN-27
Hole ID From To Length Cu Mo Ag Au CuEq
(m) (m) (m) % % g/t g/t %
MN-27 45.72 48.77 3.05 0.096 0.003 0.684 0.003 0.116
and 97.54 128.02 30.48 0.259 0.001 2.258 0.016 0.300
and 146.30 149.35 3.05 0.099 0.007 1.190 0.019 0.149
and 168.86 173.43 4.57 0.688 0.002 5.179 0.041 0.781
and 198.12 201.17 3.05 0.118 0.001 1.260 0.004 0.137
and 213.36 216.41 3.05 0.071 0.012 1.680 0.003 0.130
and 268.53 277.37 8.84 0.046 0.031 0.679 0.003 0.159
and 326.14 356.62 30.48 0.095 0.003 1.656 0.003 0.124
and 408.43 411.48 3.05 0.103 0.001 1.400 0.003 0.121
and 554.74 557.78 3.05 0.120 0.000 1.030 0.005 0.134
and 617.52 628.80 11.28 0.125 0.002 1.309 0.004 0.148
and 640.69 644.04 3.35 0.127 0.000 1.540 0.003 0.146
and 670.56 673.61 3.05 0.105 0.000 1.740 0.005 0.127
and 682.14 684.28 2.13 0.115 0.000 1.555 0.004 0.133
(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.
Other Work Completed by KEX as Part of the 2021 Exploration Program
Other work completed as part of its 2021 Exploration Program includes:
Geologic, structural, and alteration mapping;
Surface rock chip sampling;
A UAV drone magnetic geophysics and DEM survey was completed by MWH Geo-Surveys over
the majority of the Property and over the northwest corner of the claims;
A passive seismic geophysics survey completed b y Magee Geophysical Services LLC and IM
Seismology; and
Carbon-oxygen isotope analysis was competed for historic holes MN-202 and MN-221.
KEX Plans for 2022
KEX is currently waiting for assays results from NYCN0007, NYCN0009, and NYCN0010. They just
received results from the passive seismic reflection survey and are analyzing them. They plan to complete
a 3-D geologic model for the P roperty using Leapfrog software in early 2022 and plan to subsequentl y
permit additional drilling . The scope and timing of any future drilling remains undefined at this time,
pending completion of the above work. Note that work continues to be impacted by Covid- 19 and delays
in obtaining assay results.