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Emgold Announces Partner Kennecott Exploration Is Commencing Drill Program at the New York Canyon Coppery Property in Nevada
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Emgold Announces Partner Kennecott Exploration Is Commencing Drill Program at the New York Canyon Coppery Property in Nevada
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Ellis Martin Report EMGOLD MINING (CVE:EMR) Announces Partner Kennecott Exploration is Commencing Drill Program at the New York Canyon Copper Property
Malibu, CA, Mar 10, 2021 AEST (ABN Newswire) - Join Ellis Martin for a conversation with David Watkinson, the President and CEO of Emgold Mining Corporation (
Emgold is a gold, silver, and base metal exploration company focused on Nevada and Quebec. The Company s strategy is to look for asset acquisitions in a buyer s market, add value to the acquisitions through computerization and remodeling of historic exploration data, new exploration, and application of modern geophysics, and seek asset divestitures through sale, joint venture, option, royalty, and other business transactions to advance their projects and create value for their shareholders. In this segment we review the company s properties, including Golden Arrow, Mindora and New York Canyon in Nevada as well East West etc in Quebec, Canada.
Emgold Mining Corporation: Emgold Announces Partner Kennecott Exploration Is Commencing Drill Program at the New York Canyon Coppery Property in Nevada
Emgold or the
KEX ), a subsidiary of Rio Tinto plc (RIO), is commencing a drilling program at the New York Canyon Property, Nevada (the
Property ). The Property is subject to an Earn-In with Option to Joint Venture Agreement (the
Agreement ) between Emgold and KEX.
Kennecott can earn up to a 75% interest in the Property by completing up to US$22.5 million in exploration expenditures (see Emgold s February 11, 2020 press release available at www.emgold.com or under Emgold s corporate filings at www.sedar.com for more details). 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.
Emgold Announces Partner Kennecott Exploration Is Commencing Drill Program at the New York Canyon Coppery Property in Nevada
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