CALIFORNIA EMGOLD MINING of Vancouver reports that its Idaho-Maryland project, near Grass Valley in the central part of the state, contains over 1.0 million oz of gold in the inferred category. The mine also has measured and indicated resources of 1.5 million t grading 9.60 g/t Au, or 472,000 additional oz of gold.
Details of the recent resource estimate appear in the press release dated March 1, 2007, posted at www.Emgold.com.
Emgold has an option to purchase the property before Dec. 31, 2008. President and CEO Bill Witte said his company hopes to receive a conditional mine use permit by the end of 2007. Next year the mine would be dewatered and a new decline driven to facilitate underground exploration drilling. The Idaho-Maryland mine was Californias second-largest underground gold producer during its previous life from 1862 to 1956. Total recorded production was 2.4 million oz of gold.
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