Edgewater Announces Additional In-Fill Drill Intercepts Including 66.5 Metres Grading 2.00 g/t Gold for the Corcoesto Gold Project, Spain
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/29/12 -- Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE: EDW)(OTCQX: EDWZF) is pleased to report addition drill results from the on-going in-fill diamond drilling program on the Company's 100% owned Corcoesto Gold Project, Galicia, Northwest Spain.
Edgewater now has 4 diamond drill rigs conducting a program of infill drilling on the Corcoesto Gold Project. Drilling continues to intersect excellent widths and grades of gold mineralization including DDH12W96 that returned 66.5 metres grading 2.00 g/t Au and DDH12W86 with 119.8 metres grading 0.73 g/t Au.
George Salamis, President and CEO of Edgewater stated: "The infill drilling program at Corcoesto continues to confirm good continuity and excellent widths in some cases surpassing expectations in grades and widths encountered. The current phase of drilling will culminate in the tabling of an updated resource estimate during Q3/12 which will form an integral part of the ongoing definitive feasibility study being completed by Tetra Tech. In conjunction with our project finance advisor, we are finalizing discussions with several financial institutions for the initial project development capital. The capital requirement will be based on the completion of the feasibility study later this year."
Edgewater has now completed 118 drill holes totaling 27,019.25 metres. This news release is reporting results for an additional 39 holes (8,114.1 metres).
On March 7th, 2012 Edgewater announced that Tetra Tech had been engaged to complete a NI43-101 compliant Feasibility Study on the Corcoesto Gold Project.
Sample preparation and analyses are conducted using industry standard practices. Samples are delivered to Chemex Lab in Seville, Spain and sample analyses completed at independent commercial facilities of ALS Romania for Au and ALS Canada (Vancouver) for As. Both labs have the certificate of ISO/IEC 17025:2005. Sampling and analyses include a rigorous Quality Assurance / Quality Control (QA/QC) program consisting of the insertion of blanks, duplicate samples, and check assays. A review of the QA/QC results shows no significant bias and all results are considered highly reliable.
Mr. Gregory Smith, P.Geo., Vice-President of Exploration of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.
About Edgewater Exploration Ltd.
Edgewater is a mineral development and exploration company focused on advancement and development of precious metal properties. Edgewater has an experienced mine building and operating team with a track record of success. The Company is currently developing the Corcoesto Gold Project in northwest Spain, and exploring the Enchi Gold Project in Ghana, West Africa.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Edgewater Exploration Ltd.
Ryan King
Vice President
(6040 628-1012
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Datum: 29.03.2012 - 13:30 Uhr
Sprache: Deutsch
News-ID 129912
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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