Vancouver BC - November 6, 2008 - The Smartstox Online TV Talk Show is alerting its subscribers and other resource stock investors to the progress made by Emgold Mining Corporation (TSX VENTURE:EMR) (OTCBB:EGMCF) (FRANKFURT:EML) in the permitting of their Idaho-Maryland Project in Grass Valley, California.
This week the company announced that the City of Grass Valley has published the Draft Environmental Impact Report for the Project. The City of Grass Valley Planning Commission will now review the Draft Report, and the City will now hold public meetings and a public workshop as part of the Planning Commission's review. At the end of a 45 day public comment period, the City will address the comments received and then finalize the Environmental Impact Report. The Final Environmental Impact Report will then be published and the Planning Commission will be requested to approve it as being adequate and meeting the requirements of California Environmental Quality Act.
The Idaho-Maryland Mine was historically California's second largest underground gold mine producing 2.4 million ounces of gold from 1862 to 1956 at an average grade of 0.43 ounces per ton grade. The Grass Valley Mining District produced over 17 million ounces of gold and is historically one of the richest gold districts in North America.
Emgold plans to permit, dewater, rehabilitate, explore, and reopen the Idaho-Maryland Mine. Current NI 43-101 compliant resources, based on historic data from previous mine operations, include 472,000 ounces of measured and indicated resources (1.67 million tons at 0.28 opt gold) and 1,002,000 ounces of inferred resources (2.57 million tons at 0.39 opt gold). Emgold believes the exploration potential at the Idaho-Maryland Mine is significant and could compare to gold resources and reserves found at the similar mines in the Red Lake gold district of Ontario.
The permitting process in California is among the most rigorous in the world, and Emgold is almost through the required stages needed to reopen the historic mine. Emgold's CEO David Watkinson tells us more about the Idaho-Maryland and Emgold's intentions in our Smartstox interview available at http://www.smartstox.com/interviews/emr.
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