Emgold Mining Corporation (EMR-TSX-V) ("Emgold or the
Company") is pleased to report that 240 new gold exploration targets
have been identified at the Idaho-Maryland Gold Mine located in Grass Valley,
California. These new gold
exploration targets are in addition to the 272 exploration targets announced
in the April 2, 2007, news release, bringing the total number of new
exploration targets identified since January, 2007 to 512. These targets are in addition to the 26
large conceptual exploration targets and 216 resource blocks currently
included in the Measured, Indicated and Inferred Resource categories for the
Idaho-Maryland. The previously
identified 216 resource blocks remain the highest priority zones for
underground definition drilling which would be aimed at upgrading the current
resource estimates into the proven and probable reserve categories.
With the identification of 512 exploration targets,
the Idaho-Maryland Mine has the potential to be one of the largest high-grade
underground gold exploration targets in North America. The new exploration targets are being
identified as a result of continued work on a computerized assay model using
historical data. This data was
digitized in 2006 and is now being evaluated and is undergoing further
analysis.
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 made to explore and possibly mine
to the 5,200 level. The
Idaho-Maryland ore body remains open at depth for further exploration and
development.
The 512 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. The majority of the new exploration targets are located on the
shallow Brunswick veins from the Brunswick 490 Level to the Brunswick 1300
Level, with additional targets located on deep Idaho veins down to the Idaho
2830 Level. Illustrations of the
Idaho-Maryland resource blocks and newly identified exploration targets are
presented on Emgolds website at www.emgold.com. These newly defined exploration targets are not yet
qualified as resource blocks, although some are expected to meet the required
criteria 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 Emgolds news
release of March 1, 2007. Geological
evaluations are on-going and additional exploration targets and resources may
be defined going forward.
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 process, please visit www.emgold.com or www.sedar.com.
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