EMED Mining receives Approval of Interim Mining Lease Area over Biely Vrch Gold deposit

AIM:EMED

TSX: EMD   

NICOSIA, Cyprus, Nov. 22, 2012 /CNW Telbec/ - EMED Mining Public Limited ("EMED Mining" or the "Company") (AIM: EMED) (TSX: EMD)), the Europe-based minerals development and exploration company, announces that the competent District Mining Bureau of Banska Bystrica, Central Slovakia, has approved the Mining Lease Area ("MLA") over the mineral rights to the Biely Vrch Gold Deposit. This interim approval is now passed to the Slovak Central Mining Bureau for ratification before it becomes final and binding, often within a few months. Upon final approval of the MLA, the Company can proceed to prepare the environmental impact assessments and other development studies as results warrant and in line with regulatory and community support.

The Slovak authorities have also officially recognised the national significance of this discovery by EMED Mining by declaring it a protected deposit area.

Harry Anagnostaras-Adams, Managing Director and CEO, said: "We are proud that our discovery of a significant gold deposit has been recognized by the authorities as warranting development if it meets all regulatory requirements when the requisite studies are carried out. It's a clear sign that we are moving in the right direction. Our main focus today is to ensure the community is fully informed so that we can build support at all levels as the environmental and other studies are carried out."

For more information please contact:

EMED Mining		Harry Anagnostaras-Adams	[phone]
RFC Ambrian		Stuart Laing	[phone]
Fox-Davies Capital		Simon Leathers/Susan Walker	[phone]
Bishopsgate Communications		Nick Rome	[phone]
Proconsul Capital		Andreas Curkovic	[phone]

Notes to Editors:

The Detva Gold Deposit

The Detva licence area is located 25 km to the east of the Stiavnica-Hodrusa district. The geology consists of a caldera-graben complex in the centre of a large stratovolcano. Widespread propylitic and localised advanced argillic alteration in the application area indicate substantial hydrothermal activity. This setting is analogous to the Stiavnica-Hodrusa mineral field and is considered to be a classic geological setting for the formation of large porphyry and epithermal gold orebodies.

In October 2006, EMED Mining announced the discovery of the Biely Vrch porphyry gold deposit within the Detva licence. During 2008 the Company completed a diamond drilling program of 34 holes on a 100 metre by 100 metre grid pattern at Biely Vrch. Gold mineralisation was found to occur within a broad pipe-shaped quartz-veinlet stockwork zone associated with an andesitic porphyry intrusion. A number of drill cores were found to be mineralised over their entire length from surface to a depth of 300 metres.

Mineral resources have been reported in accordance with JORC and NI-43-101. For further details please refer the quarterly or annual reports of the Company.

 

SOURCE: EMED MINING PUBLIC LIMITED

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