Edgewater Intersects 1.72 g/t Gold Over 24 m on Boin Gold Zone and 4.75 g/t Gold Over 11 m on Nyam Gold Zone at Enchi Project, G
April 12 2011 - 8:30AM
Marketwired
Edgewater Exploration Ltd. (TSX VENTURE: EDW)(OTCQX: EDWZF)
("Edgewater" or the "Company") is pleased to announce additional
diamond drill hole and trench results on the Company's Enchi Gold
Project ("Enchi or the Project") in Ghana. Results continue to
outline near-surface gold mineralization, at a depth of 25-50 m
from surface on the Boin and Nyam Gold Zones (see a plan map here).
The targets for this phase of drilling are three of the 16 known
gold zones at Enchi; Nyamebekyere ("Nyam"), Boin, and Sewum.
George Salamis, President and CEO stated: "These are some of the
widest and highest grade gold intercepts reported to date on Enchi,
and we continue to outline encouraging gold mineralization at
vertical depths of less than 50 m. As the 35,000 meter drill
program continues to accelerate with additional rigs, we expect to
drill test these same multi-kilometer-long gold-bearing structures
at shallow depths averaging 150 m or less. At Kinross Gold's
Chirano mine located 70 km northeast of the Enchi project,
individual gold deposits are known to extend to over 700 m in
depth."
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Table 1 Drill Result Highlights
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# Type Zone Section From(m) To(m) Interval(m) Au g/t g/T x m
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NBDDH021 Drill Hole Nyam 16000N 69.0 80.0 11.0 4.75 52.25
NBDDH021 Drill Hole Nyam Inc. 74.0 75.0 1.0 44.20 44.20
KBDDH003 Drill Hole Boin 4050N 44.0 68.0 24.0 1.72 41.28
NBDDH018 Drill Hole Nyam 15850N 31.0 65.0 34.0 1.13 38.42
KBDDH003 Drill Hole Boin inc 50.0 58.0 8.0 3.84 30.72
KBDDH004 Drill Hole Boin 4050N 3.0 13.0 10.0 2.60 26.00
NBDDH013 Drill Hole Nyam 15605N 43.0 64.0 21.0 1.04 21.84
NBDDH013 Drill Hole Nyam inc. 52.0 61.0 9.0 1.84 16.56
NBDDH018 Drill Hole Nyam 15850N 1.0 16.0 15.0 1.08 16.20
NBTR009 Trench Nyam 15800N 4.0 12.0 8.0 1.89 15.12
NBTR007 Trench Nyam 15680N 8.0 20.0 12.0 1.20 14.34
NBTR009 Trench Nyam 15800N 22.0 38.0 16.0 0.77 12.32
NBDDH018 Drill Hole Nyam inc 10.0 16.0 6.0 2.04 12.24
NBDDH022 Drill Hole Nyam 16035N 31.0 36.0 5.0 2.15 10.75
NBTR008 Trench Nyam 15710N 16.0 24.0 8.0 1.32 10.56
NBDDH012 Drill Hole Nyam 15710N 35.0 42.0 7.0 1.45 10.15
NBDDH009 Drill Hole Nyam 15550N 51.0 56.0 5.0 2.02 10.09
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Notes: 1) All reported intercepts are core lengths and true widths are
estimated at 80-85 per cent of core lengths
2) Weighted averages calculated using uncut assays.
3) See attached table for complete set of results.
Boin has a known strike length of over 10 km identified by
previous shallow RC and RAB drilling, Edgewater currently has one
drill operating on Boin with plans to add additional rigs in the
coming weeks. Nyam has been traced in wide-spaced drilling for over
1600 m and is part of a continuous 15 km strike length of gold
prospects on the Project from Nyam southwest through Kojina Hill to
Sewum Hill in the south. To date, a total of 57 holes have been
completed and 27 trenches have been dug by Edgewater at Enchi which
continue to consistently intersect good grade gold mineralization.
As expected, these recent results are now defining a series of
steeply plunging gold zones along both of the Boin and Nyam
structures. These shoots will be the focus of the next phase of
drilling which will continue to test the structures at depths of 75
m to 150 m below surface within the unoxidized portion of the
system.
The third gold zone to be tested in this phase of drilling will
be Sewum which is host to three separately defined gold mineralized
structures, each in excess of a kilometre in length. All three of
these highly prospective areas occur along a key
sedimentary-volcanic contact, and host similar geology to Kinross
Gold Corporation's Chirano Gold mine (5 million oz) located along
the Bibiani Shear Zone 70km northeast of the Project. Edgewater has
now completed road access into the Sewum Zone and has commenced an
initial 3000 m diamond drill program.
Road-work has also been initiated into the Eradi Zone where the
Company expects to commence drilling in the next few months.
Sample analyses have been conducted at independent commercial
facilities SGS Labs in Tarkwa Ghana. All sample analyses was
completed using industry standard geochemical and fire assay
practices and included a rigorous Quality Assurance / Quality
Control (QA/QC) program consisting of the insertion of standards,
blanks and duplicate samples randomly into the sample stream. A
review of the QA/QC results shows no significant bias and all
results are considered highly reliable.
Mr. Gregory Smith, P.Geo, the 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 exploration company focused principally
on acquisitions, advancement and development of precious metal
properties. Edgewater is currently developing the Enchi Gold
Project in Ghana, West Africa and the Corcoesto Gold Project in
northwest Spain.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
# Type Zone Section From(m) To(m) Interval(m) Au g/t g/T x m
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NBDDH009 Drill Hole Nyam 15550N 51 56 5 2.02 10.09
NBDDH009 Drill Hole Nyam 15550N 66 68 2 1.41 2.82
NBDDH010 Drill Hole Nyam 15550N 30 31 1 0.74 0.74
NBDDH010 Drill Hole Nyam 15550N 46 47 1 0.67 0.67
NBDDH011 Drill Hole Nyam 15640N 12 16 4 0.66 2.64
NBDDH011 Drill Hole Nyam 15640N 24 28 4 1.64 6.56
NBDDH011 Drill Hole Nyam 15640N 74 75 1 1.46 1.46
NBDDH011 Drill Hole Nyam 15640N 80 86 6 1.45 8.70
NBDDH012 Drill Hole Nyam 15710N 35 42 7 1.45 10.15
NBDDH012 Drill Hole Nyam 15710N 47 53 6 0.78 4.68
NBDDH013 Drill Hole Nyam 15605N 43 64 21 1.04 21.84
NBDDH013 Drill Hole Nyam inc. 52 61 9 1.84 16.56
NBDDH015 Drill Hole Nyam 15755N 65 66 1 0.98 0.98
NBDDH015 Drill Hole Nyam 15755N 71 77 6 0.69 4.14
NBDDH015 Drill Hole Nyam 15755N 81 84 3 2.08 6.24
NBDDH016 Drill Hole Nyam 15900N 56 64 8 0.90 7.20
NBDDH016 Drill Hole Nyam 15900N 72 74 2 1.03 2.06
NBDDH016 Drill Hole Nyam 15900N 107 110 3 1.42 4.26
NBDDH016 Drill Hole Nyam 15900N 127 129 2 0.96 1.92
NBDDH017 Drill Hole Nyam 15900N 27 29 2 1.02 2.04
NBDDH017 Drill Hole Nyam 15900N 34 35 1 0.76 0.76
NBDDH017 Drill Hole Nyam 15900N 85 88 3 1.02 3.06
NBDDH017 Drill Hole Nyam 15900N 95 96 1 1.90 1.90
NBDDH017 Drill Hole Nyam 15900N 108 112 4 2.16 8.64
NBDDH018 Drill Hole Nyam 15850N 1 16 15 1.08 16.20
NBDDH018 Drill Hole Nyam inc 10 16 6 2.04 12.24
NBDDH018 Drill Hole Nyam 15850N 31 65 34 1.13 38.42
NBDDH019 Drill Hole Nyam 15950N 38 40 2 0.84 1.68
NBDDH019 Drill Hole Nyam 15950N 57 58 1 0.95 0.95
NBDDH020 Drill Hole Nyam 15950N 9 10 1 4.47 4.47
NBDDH020 Drill Hole Nyam 15950N 61 65 4 2.20 8.80
NBDDH020 Drill Hole Nyam 15950N 72 73 1 0.99 0.99
NBDDH020 Drill Hole Nyam 15950N 81 82 1 0.90 0.90
NBDDH020 Drill Hole Nyam 15950N 91 94 3 0.55 1.65
NBDDH021 Drill Hole Nyam 16000N 45 46 1 0.67 0.67
NBDDH021 Drill Hole Nyam 16000N 59 60 1 0.69 0.69
NBDDH021 Drill Hole Nyam 16000N 61 62 1 1.64 1.64
NBDDH021 Drill Hole Nyam 16000N 69 80 11 4.75 52.25
NBDDH021 Drill Hole Nyam Inc. 74 75 1 44.20 44.20
NBDDH022 Drill Hole Nyam 16035N 3 6 3 1.26 3.78
NBDDH022 Drill Hole Nyam 16035N 31 36 5 2.15 10.75
Trench No Type Zone Section From(m) To(m) Interval(m) Au g/t g/T x m
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NBTR006 Trench Nyam 15640N 0 10 10 0.98 9.76
NBTR006 Trench Nyam 15640N 32 42 10 0.64 6.40
NBTR007 Trench Nyam 15680N 8 20 12 1.20 14.34
NBTR008 Trench Nyam 15710N 16 24 8 1.32 10.56
NBTR009 Trench Nyam 15800N 4 12 8 1.89 15.12
NBTR009 Trench Nyam 15800N 22 38 16 0.77 12.32
Hole No Type Zone Section From(m) To(m) Interval(m) Au g/t g/T x m
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KBDDH003 Drill Hole Boin 4050N 44 68 24 1.72 41.28
KBDDH003 Drill Hole Boin inc 50 58 8 3.84 30.72
KBDDH004 Drill Hole Boin 4050N 3 13 10 2.60 26.00
KBDDH004 Drill Hole Boin 4050N 20 27 7 0.68 4.76
KBDDH004 Drill Hole Boin 4050N 41 42 1 1.09 1.09
KBDDH005 Drill Hole Boin 4150N 42 44 2 0.77 1.54
KBDDH005 Drill Hole Boin 4150N 47 48 1 1.31 1.31
KBDDH005 Drill Hole Boin 4150N 54 64 10 0.69 6.90
KBDDH005 Drill Hole Boin inc 61 64 3 1.64 4.92
KBDDH005 Drill Hole Boin 4150N 66 70 4 0.70 2.80
KBDDH005 Drill Hole Boin 4150N 75 78 3 0.89 2.67
KBDDH006 Drill Hole Boin 4150N 71 72 1 1.25 1.25
KBDDH006 Drill Hole Boin 4150N 99 100 1 0.53 0.53
KBDDH007 Drill Hole Boin 4150N 11 14 3 1.20 3.60
KBDDH007 Drill Hole Boin 4150N 35 36 1 1.03 1.03
KBDDH007 Drill Hole Boin 4150N 43 46 3 0.83 2.49
KBDDH007 Drill Hole Boin 4150N 51 55 4 0.86 3.44
KBDDH007 Drill Hole Boin inc 51 52 1 2.04 2.04
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
(604) 628-1012 rking@edge-water.com www.edge-water.com
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