VANCOUVER, March 17 /PRNewswire-FirstCall/ - Emerick
Resources Corp. (TSXV: ERC) is pleased to announce that it has been
granted the option to acquire a 60% interest in the Rivier gold
property located in the Watson
Lake Mining District, Yukon
from Radius Gold Inc. (TSX-V: RDU).
The Property
The geological setting and anomalous geochemical
values found at the Rivier Property are consistent with the
possible presence of intrusion related gold deposits. The 116
claims optioned to Emerick cover an area of roughly 4km by 9km over
a series of anomalous gold + arsenic in stream sediment samples
taken from streams that drain a Mid Cretaceous granitoid pluton,
intruding siliciclastics of the Nasina subterrane and ultramafic
rocks of the Slide Mountain Terrane.
Emerick plans to follow up last year's soil
sampling completed by Radius Gold with detailed mapping, additional
soil and rock geochemical sampling and regional geophysics, with
the aim of identifying drill targets.
The Option
Radius Gold has granted to Emerick an option to
earn a 60% interest in the Rivier Property in consideration of
Emerick issuing a total of 1.0 million shares to Radius and
incurring exploration expenditures on the Property totaling
$1.0 million, over a period of three
years. The first year exploration expenditure requirement is
$250,000. Emerick and Radius
have common directors and officers, and the agreement between the
two companies is subject to TSX Venture Exchange approval.
ON BEHALF OF THE BOARD
"Ralph Rushton"
Ralph Rushton, CEO &
Director
Investor relations: Erin
Ostrom, tel: 604-801-5432
Symbol: TSXV-ERC
Shares Issued: 20.1-million
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy
or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release
contain forward-looking information that involves inherent risk and
uncertainty affecting the business of Emerick Resources Corp.
Actual results may differ materially from those currently
anticipated in such statements.
SOURCE Emerick Resources Corp.