EMED Cyprus digs deeper for gold in Slovakia

Cyprus-based EMED Mining Public Ltd., announced the results from the drilling program at the Biely Vrch prospect at the Detva Licence in central Slovakia, with drillhole DVE5 intercepted 331m averaging 1.1g/t gold from 228m to the bottom of the hole.

This intercept, in conjunction with earlier results has established known gold mineralisation from surface to a vertical depth of 460m, an increase of 200m over the previous deepest intercept, the company said.

The limited drilling to date indicates a large zone of mineralisation with yet-to-be-tested potential extensions to the north and south. Over the remainder of 2007, EMED Mining plans to undertake the work required to estimate an initial JORC-Compliant Mineral Resource at the Biely Vrch prospect, while applications were recently made to increase the company’s exploration licence holdings in Slovakia from 490 sq.km. to 1,312 sq.kms.

In late 2006, the first four drillholes at Biely Vrch targeted a 500m by 300m soil geochemical anomaly and all four drillholes intercepted gold mineralisation over their entire length.

Drilling at Biely Vrch recommenced in mid-March 2007 with a program designed to define the extent and grade of the near-surface mineralisation as outlined by the soil geochemical anomaly, as well as testing a deeper target to the west identified by ground-geophysical surveys. A further six drillholes have now been completed but full assays received for only DVE5.

Harry Anagnostaras-Adams, Managing Director of EMED Mining, explained: “Drilling at Biely Vrch is at a very exciting stage. Even though we have received assays from only five drillholes into this discovery, early indications are that our Slovakian tenements have good potential for substantial gold deposits. We look forward to working with Gold Fields Limited, which has recently become a 10% shareholder in our company and formed an alliance in respect of EMED Mining’s Slovakian interests.”

EMED Mining was admitted to trading on AIM in May 2005 following a placing of its shares. In the two years since then the share price has increased from 8p to the current 16p and market capitalisation has increased from GBP 4 mln to 20 mln.

EMED Mining has now established a strong position in Spain and Cyprus where the mines at Rio Tinto are probably amongst the best known in the world. They are, with the possible exception of those in Cyprus, the oldest capable of still being worked. The goal is to restart production in both mining districts.

In Slovakia and Romania the targeted mineralisation styles are high-grade epithermal gold, or bulk-mineable epithermal gold and porphyry copper-gold, while in Georgia and Central Asia exploration areas form a cluster of gold prospects centred in Georgia. The company has confirmed Russian resources of 1.0 mln ounces gold at the Zopkhito Prospect and discovered high grade mineralisation at surface at other prospects.

In Turkey and Bulgaria exploration areas were vended into 34%-owned KEFI Minerals Plc which was admitted to AIM in December 2006.