Emgold achieves important milestone in gold mine permit application
07 1월 2008 - 11:30PM
PR Newswire (US)
TSX Venture Exchange: EMR OTC Bulletin Board: EGMCF U.S. 20-F
Registration: 000-51411 Frankfurt Stock Exchange: EML VANCOUVER,
Jan. 7 /PRNewswire-FirstCall/ -- Emgold Mining Corporation (EMR-TSX
Venture) (the "Company" or "Emgold") is pleased to announce the
completion of an important milestone in the permit application to
reopen and operate the Idaho-Maryland Gold Mine located in Grass
Valley, California. The Idaho-Maryland Gold mine historically was
the second largest producing gold mine in California. From 1862 to
1956, the Idaho-Maryland Mine produced approximately 2.4 million
ounces of gold at an average grade of 0.43 ounce per ton including
1 million ounces of gold contained in one million tons from the
Idaho # 1 Stope, the third largest bonanza ore shoot in the world.
The City of Grass Valley ("City") has completed the "Idaho-Maryland
Mine Project Initial Study." Completion of the Initial Study marks
the successful conclusion of Phase Two of the three Phase mine
permitting process to reopen and operate the mine. Completion of
the Initial Study is a significant achievement by Emgold and the
City. Phase three of the permitting process, the preparation of the
Environmental Impact Report ("EIR"), has commenced. David
Watkinson, President and COO of Emgold stated, "We are very pleased
to see the permitting process progress to the third and final stage
for the Idaho-Maryland Gold Mine. The Company's focus over the
coming year will be to complete the California Environmental
Quality Act ("CEQA") process, complete the Final Environmental
Impact Report, and obtain the Conditional Mine Use Permit (CMUP)
from the City. We are very fortunate to be applying under CEQA, a
well defined and controlled process through which over 40 gold
mines have obtained their CMUP's since the early 1960's. In 2004,
based on the latest statistics available, the National Mining
Association reported that California was the largest non-fuel
mineral producing state in the U.S., with 590 operating mines,
employing 12,840 people, and contributing $3.7 billion directly to
the state economy. Directly and indirectly, the mining industry in
California contributed 75,900 jobs and $14.4 billion to the state
economy. Emgold is developing the Idaho-Maryland Gold Mine in an
environmentally and socially responsible manner, and is looking
forward to making a positive contribution to the City of Grass
Valley and the State of California." ABOUT EMGOLD Emgold Mining
Corporation is a gold exploration and emerging production-company.
Emgold is focused on the permitting, exploration and re-opening of
the Idaho-Maryland Gold Mine, located in Grass Valley, California.
The Grass Valley Mining District produced 17 million ounces of gold
from 1850 until 1956 at which time mines started shutting down due
to the fixed gold price of $35 per ounce and rising labour costs
following World War II. The Idaho-Maryland Gold Mine historically
was the second largest underground gold mine in California and is
located adjacent to the Empire/Northstar Mine which was last
operated by Newmont Mining Corporation and produced 5.8 million
ounces of gold. Over its operating life, the Idaho-Maryland Gold
Mine produced 2.4 million ounces of gold. Emgold has a significant
NI 43-101 compliant resource and has identified 26 large
exploration targets and 216 resource blocks with significant
additional exploration potential amongst a total of 754 exploration
targets. To learn more about Emgold and to read a recent Wall
Street Journal article please visit http://www.emgold.com/. On
behalf of the Board of Directors, Sargent H. Berner Co-Executive
Chairman 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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