Edgewater Exploration Ltd.: In-Fill Drilling at Corcoesto Spain Continues to Intercept Consistent Mineralization Including 8....
15 Agosto 2012 - 10:30AM
Marketwired Canada
Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX
VENTURE:EDW)(OTCQX:EDWZF) is pleased to report additional drill results from the
on-going in-fill diamond drilling program on the Company's 100% owned Corcoesto
Gold Project, Galicia, Northwest Spain.
Drilling continues to intersect excellent widths and grades of gold
mineralization including DDH12W170 that returned 8.25 metres grading 5.58 g/t Au
DDH12W179 with 5.00 metres at 6.64g/t Au and DDH12W188 with 8.10 metres of 1.96
g/t Au and 12.80 metres of 2.56 g/t Au.
"The in-fill drilling program continues to confirm the geometry of the existing
resource model. Over the past several months Edgewater has continued to advance
and de-risk Corcoesto with extensive in-fill drilling, engineering and
environmental permitting work completed," stated George Salamis, President and
CEO. We are pleased with our in-fill drilling program and we aim towards
completing an updated NI 43-101 resource during Q4 this year as well as a final
feasibility study during Q4, 2012/Q1, 2013. Mr. Salamis adds, "The Corcoesto
Environmental Impact Assessment 'EIA' was filed in February 2012, the EIA has
been reviewed by all ministries involved and we have recently completed a period
of public consultation with continued support from the municipal and state
governments in Galicia. Consistent with our originally communicated timeline we
anticipate a mine development permit to be received during Q4 of this year.
Edgewater remains firmly committed to seeing Corcoesto through to mine
development and to ensuring that the surrounding communities derive maximum
benefit from future gold production."
Table 1 Corcoesto Highlight of Recent Drill Results
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From To Length Au
Drill Hole (m) (m) (m) (g/t)
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------------------------------------------------------------------
12W170 72.60 80.85 8.25 5.58
12W170 incl 72.60 73.60 1.00 23.30
12W179 59.60 64.60 5.00 6.64
12W179 incl 59.60 61.60 2.00 16.22
12W188 195.80 203.90 8.10 1.96
12W188 and 288.80 301.60 12.80 2.56
12W206 153.60 174.10 20.50 1.45
12W193 86.80 112.50 25.70 1.02
12W193 incl 89.00 101.90 12.90 1.45
12W182 256.40 268.80 12.40 1.88
12W172 157.40 166.40 9.00 2.55
12W172 incl 164.40 165.40 1.00 16.08
12W189 108.90 115.50 6.60 3.38
12W186 95.40 105.30 9.90 2.16
12W186 and 110.10 120.30 10.20 1.56
12W199 149.60 160.00 10.40 1.91
12W177 68.00 79.60 11.60 1.63
12W183 96.70 98.80 2.10 8.26
12W183 and 188.10 208.40 20.30 0.77
12W183 and 236.70 251.60 14.90 1.22
12W187 234.80 256.00 21.20 0.80
12W203 147.40 150.80 3.40 4.82
12W203 incl 147.40 148.40 1.00 15.40
12W212 142.90 153.70 10.80 1.40
12W195 254.60 266.10 11.50 1.30
12W182 88.10 92.50 4.40 3.32
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Notes: 1) All reported intercepts are core lengths and true widths are
estimated at 80 per cent of core lengths
2) Weighted averages calculated using uncut assays.
3) See Table attached for complete results.
Edgewater has now completed 214 drill holes totaling 42,000 metres. This news
release is reporting results for a total of 59 previously un-released holes
(9086.8 metres).
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Drill hole Length Azimut Dip Zone Section
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------------------------------------------------------------------
12W161 200.20 156.77 -53.67 Peton de Lobo 4200
12W162 43.90 156.00 -50.00 Peton de Lobo 4625
12W163 275.40 156.40 -49.54 Peton de Lobo 4225
12W164 60.20 180.00 60.20 Picotos 4025
12W165 109.60 180.00 -45.00 Picotos 4050
12W166 74.65 156.00 -90.00 Peton de Lobo 4625
12W167 209.70 156.00 -50.00 Peton de Lobo 4225
12W168 283.35 184.10 -60.00 Pozo del Ingles 3710
12W169 339.40 156.00 -60.00 Peton de Lobo 4250
12W170 80.85 156.00 -60.00 Peton de Lobo 4400
12W171 95.20 180.00 -45.00 Picotos 4075
12W172 234.80 156.00 -60.00 Peton de Lobo 4250
12W173 60.45 180.00 -45.00 Picotos 4075
12W174 111.00 0.00 -90.00 Peton de Lobo 4400
12W175 130.85 180.00 -45.00 Picotos 3650
12W176 260.50 160.00 -50.00 Peton de Lobo 4225
12W177 314.20 160.00 -50.00 Peton de Lobo 4225
12W178 60.45 156.00 -50.00 Peton de Lobo 4375
12W179 132.50 180.00 -45.00 Picotos 3675
12W180 221.40 156.00 -60.00 Pozo del Ingles 4250
12W181 71.90 160.00 -50.00 Peton de Lobo 4200
12W182 305.00 160.00 -55.00 Peton de Lobo 4200
12W183 258.50 180.00 -60.00 Pozo del Ingles 3685
12W184 130.05 179.36 -43.82 Picotos 3625
12W185 102.80 156.00 -50.00 Peton de Lobo 4175
12W186 154.90 180.00 -55.00 Pozo del Ingles 3485
12W187 282.10 160.00 -54.00 Peton de Lobo 4175
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Drill hole Length Azimut Dip Zone Section
------------------------------------------------------------------
------------------------------------------------------------------
12W188 310.60 160.00 -60.00 Peton de Lobo 4250
12W189 120.05 180.00 -45.00 Picotos 3725
12W190 119.05 156.00 -50.00 Peton de Lobo 4200
12W191 145.35 180.00 -50.00 Pozo del Ingles 3460
12W192 157.20 159.00 -50.00 Peton de Lobo 4400
12W193 250.00 157.50 -54.00 Peton de Lobo 4175
12W194 303.20 160.00 -55.00 Peton de Lobo 4175
12W195 274.70 180.00 -60.00 Pozo del Ingles 3660
12W196 140.50 180.00 -50.00 Pozo del Ingles 3460
12W197 108.00 156.00 -45.00 Peton de Lobo 4400
12W198 88.15 180.00 -45.00 Fonterremula S 3875
12W199 210.15 180.00 -55.00 Pozo del Ingles 3485
12W200 230.00 156.00 -57.00 Peton de Lobo 4250
12W201 225.30 156.00 -55.00 Peton de Lobo 4175
12W202 80.10 156.00 -50.00 Peton de Lobo 4375
12W203 165.10 156.00 -50.00 Peton de Lobo 4175
12W204 120.20 156.00 -45.00 Peton de Lobo 4425
12W205 103.20 180.00 -45.00 Picotos 3975
12W206 209.25 200.00 -57.00 Pozo del Ingles 3685
12W207 85.40 156.00 -45.00 Peton de Lobo 4225
12W208 125.00 156.00 -50.00 Peton de Lobo 4250
12W209 100.05 156.00 -45.00 Peton de Lobo 4425
12W210 109.70 180.00 -45.00 Pozo del Ingles 4410
12W211 80.10 156.00 -50.00 Peton del Lobo 4250
12W212 159.90 180.00 -60.00 Pozo del Ingles 3610
12W213 65.00 180.00 -45.00 Pozo del Ingles 4110
12W214 93.10 180.00 -50.00 Pozo del Ingles 3460
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Work continues by Tetra Tech on the NI43-101 compliant Feasibility Study on the
Corcoesto Gold Project. Additional work on-going in support of the Feasibility
Study includes detailed processing plant design, ore and waste mining
scheduling, metallurgical testing and geotechnical studies.
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
Previously Unreported Results from Recently Completed Drill Holes
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Length Au Rec GxT
Drill Hole From To ( Meters) g/t % (g-m/t)
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12W161 8.40 11.50 3.10 0.77 78.79 2.39
12W161 20.70 21.70 1.00 1.01 100.00 1.01
12W161 24.60 26.10 1.50 0.71 80.00 1.07
12W161 188.30 190.40 2.10 3.88 100.00 8.15
12W162 7.30 9.40 2.10 1.83 100.00 3.84
12W163 50.20 56.60 6.40 1.33 100.00 8.51
12W163 66.20 68.20 2.00 1.71 100.00 3.42
12W163 76.40 77.40 1.00 5.37 100.00 5.37
12W163 183.50 195.60 12.10 0.94 100.00 11.37
12W163 208.90 212.00 3.10 0.65 100.00 2.02
12W163 256.30 259.80 3.50 1.30 100.00 4.55
12W164 30.60 31.70 1.10 6.37 100.00 7.01
12W165 29.00 31.00 2.00 2.08 100.00 4.16
12W166 0.65 2.00 1.35 0.60 100.00 0.81
12W166 31.80 33.00 1.20 0.47 100.00 0.56
12W167 10.60 11.80 1.20 2.73 100.00 3.28
12W167 25.00 26.00 1.00 0.58 100.00 0.58
12W167 32.00 35.30 3.30 0.64 100.00 2.10
12W167 41.30 42.30 1.00 1.24 100.00 1.24
12W168 29.20 30.30 1.10 2.23 100.00 2.45
12W168 35.00 39.00 4.00 0.51 100.00 2.04
12W168 213.80 215.00 1.20 2.22 100.00 2.66
12W168 220.90 223.00 2.10 1.71 100.00 3.59
12W168 245.50 246.70 1.20 2.44 100.00 2.93
12W168 264.50 267.70 3.20 2.18 100.00 6.98
12W169 48.90 49.90 1.00 0.54 100.00 0.54
12W169 61.50 62.80 1.30 0.63 100.00 0.82
12W169 66.20 67.20 1.00 0.62 100.00 0.62
12W169 79.10 81.10 2.00 0.60 100.00 1.20
12W169 175.50 176.50 1.00 0.50 100.00 0.50
12W169 187.00 188.10 1.10 1.13 100.00 1.24
12W169 190.10 191.30 1.20 0.60 100.00 0.72
12W169 209.40 211.70 2.30 1.91 100.00 4.39
12W169 236.70 238.70 2.00 0.54 100.00 1.08
12W169 255.40 261.20 5.80 0.73 100.00 4.23
12W169 272.30 281.50 9.20 0.89 100.00 8.19
12W170 28.70 29.80 1.10 0.62 100.00 0.68
12W170 50.00 51.00 1.00 11.90 100.00 11.90
12W170 63.60 64.70 1.10 0.52 100.00 0.57
12W170 72.60 80.85 8.25 5.58 100.00 46.04
12W170 incl 72.60 73.60 1.00 23.30 100.00 23.30
12W171 30.50 31.50 1.00 0.49 100.00 0.49
12W172 38.00 39.00 1.00 1.38 100.00 1.38
12W172 144.40 149.50 5.10 0.80 100.00 4.08
12W172 157.40 166.40 9.00 2.55 100.00 22.95
12W172 incl 164.40 165.40 1.00 16.08 100.00 16.08
12W174 36.20 38.20 2.00 0.82 100.00 1.64
12W174 43.10 46.10 3.00 1.41 100.00 4.23
12W174 incl 43.10 45.00 1.90 1.88 100.00 3.57
12W174 54.20 55.20 1.00 3.66 100.00 3.66
12W174 69.70 70.80 1.10 2.08 100.00 2.29
12W174 76.20 77.60 1.40 0.76 100.00 1.06
12W174 86.60 88.20 1.60 1.06 100.00 1.70
12W174 96.60 99.50 2.90 0.51 100.00 1.48
12W175 103.60 105.90 2.30 4.74 100.00 10.90
12W175 incl 104.60 105.90 1.30 7.01 100.00 9.11
12W175 114.90 115.90 1.00 2.06 100.00 2.06
12W175 121.90 122.90 1.00 1.21 100.00 1.21
12W175 128.90 130.85 1.95 0.94 100.00 1.83
12W176 6.00 9.00 3.00 1.43 97.50 4.29
12W176 incl 8.00 9.00 1.00 2.82 100.00 2.82
12W176 29.00 32.50 3.50 3.23 100.00 11.31
12W176 51.60 53.60 2.00 0.74 100.00 1.48
12W176 151.70 154.90 3.20 2.16 100.00 6.91
12W176 incl 151.70 152.75 1.05 5.10 100.00 5.36
12W176 166.00 167.00 1.00 1.00 100.00 1.00
12W176 175.50 176.50 1.00 1.06 100.00 1.06
12W176 202.50 204.00 1.50 0.61 100.00 0.92
12W176 209.30 219.50 10.20 0.47 100.00 4.79
12W177 68.00 79.60 11.60 1.63 100.00 18.91
12W177 214.20 224.40 10.20 0.78 100.00 7.96
12W177 241.20 243.20 2.00 0.90 100.00 1.80
12W177 290.80 292.00 1.20 0.60 100.00 0.72
12W179 59.60 64.60 5.00 6.64 100.00 33.20
12W179 incl 59.60 61.60 2.00 16.22 100.00 32.44
12W179 72.85 73.85 1.00 0.76 100.00 0.76
12W179 86.90 87.90 1.00 1.40 100.00 1.40
12W179 108.80 116.80 8.00 0.53 100.00 4.24
12W180 24.50 25.50 1.00 4.58 100.00 4.58
12W180 129.40 140.50 11.10 0.81 100.00 8.99
12W180 164.40 167.40 3.00 0.53 100.00 1.59
12W180 179.40 180.40 1.00 0.63 100.00 0.63
12W180 184.20 185.30 1.10 1.22 100.00 1.34
12W181 27.70 29.00 1.30 0.57 100.00 0.74
12W182 51.50 52.80 1.30 0.96 100.00 1.25
12W182 88.10 92.50 4.40 3.32 100.00 14.61
12W182 102.30 104.30 2.00 1.10 100.00 2.20
12W182 142.90 144.00 1.10 1.91 100.00 2.10
12W182 245.00 247.20 2.20 0.54 100.00 1.19
12W182 256.40 268.80 12.40 1.88 100.00 23.31
12W182 incl 257.70 258.90 1.20 10.75 100.00 12.90
12W183 34.60 36.70 2.10 3.93 100.00 8.25
12W183 96.70 98.80 2.10 8.26 100.00 17.35
12W183 incl 97.80 98.80 1.00 15.15 100.00 15.15
12W183 188.10 208.40 20.30 0.77 100.00 15.63
12W183 216.80 217.80 1.00 1.84 100.00 1.84
12W183 228.90 230.90 2.00 1.08 100.00 2.16
12W183 229.90 230.90 1.00 1.51 100.00 1.51
12W183 236.70 251.60 14.90 1.22 100.00 18.18
12W184 60.90 61.90 1.00 0.98 100.00 0.98
12W184 97.70 113.90 16.20 0.69 100.00 11.18
12W184 119.10 120.10 1.00 1.04 100.00 1.04
12W185 25.6 26.70 1.10 6.26 100.00 6.89
12W185 36.3 37.40 1.10 0.62 100.00 0.68
12W185 98.5 99.50 1.00 1.34 100.00 1.34
12W186 63.70 76.80 13.10 0.55 100.00 7.21
12W186 95.40 105.30 9.90 2.16 100.00 21.38
12W186 incl 95.40 96.40 1.00 9.70 100.00 9.70
12W186 110.10 120.30 10.20 1.56 100.00 15.91
12W186 incl 115.20 116.20 1.00 7.61 100.00 7.61
12W186 124.00 125.00 1.00 1.38 100.00 1.38
12W187 62.90 63.90 1.00 1.74 100.00 1.74
12W187 97.70 103.70 6.00 0.92 100.00 5.52
12W187 117.80 126.20 8.40 0.65 100.00 5.46
12W187 222.00 227.10 5.10 1.37 100.00 6.99
12W187 234.80 256.00 21.20 0.80 100.00 16.96
12W187 incl 236.80 248.90 12.10 1.13 100.00 13.67
12W188 32.30 36.60 4.30 0.98 100.00 4.21
12W188 44.40 47.60 3.20 0.70 100.00 2.24
12W188 54.70 60.60 5.90 0.74 100.00 4.37
12W188 67.90 68.90 1.00 1.37 100.00 1.37
12W188 100.90 102.00 1.10 0.91 100.00 1.00
12W188 184.20 185.20 1.00 0.52 100.00 0.52
12W188 195.80 203.90 8.10 1.96 100.00 15.88
12W188 incl 199.30 200.50 1.20 9.19 100.00 11.03
12W188 265.00 266.20 1.20 1.20 100.00 1.44
12W188 288.80 301.60 12.80 2.56 100.00 32.77
12W188 incl 289.90 291.00 1.10 8.17 100.00 8.99
12W189 80.90 81.90 1.00 1.01 100.00 1.01
12W189 88.55 89.55 1.00 0.81 100.00 0.81
12W189 108.90 115.50 6.60 3.38 100.00 22.31
12W190 41.20 42.20 1.00 3.35 100.00 3.35
12W190 83.20 84.30 1.10 3.20 100.00 3.52
12W190 92.80 94.80 2.00 0.63 100.00 1.26
12W190 100.70 103.70 3.00 0.60 100.00 1.80
12W191 70.50 81.80 11.30 0.46 100.00 5.20
12W191 113.90 125.10 11.20 1.12 100.00 12.54
12W192 20.80 23.90 3.10 1.70 100.00 5.27
12W192 38.00 40.00 2.00 1.66 100.00 3.32
12W192 50.00 58.10 8.10 1.05 100.00 8.51
12W192 63.10 64.10 1.00 3.87 100.00 3.87
12W192 73.10 74.20 1.10 2.89 100.00 3.18
12W192 82.20 84.20 2.00 0.54 100.00 1.08
12W192 132.50 144.70 12.20 1.16 100.00 14.15
12W192 148.20 149.20 1.00 2.21 100.00 2.21
12W193 24.00 26.00 2.00 0.54 72.50 1.08
12W193 44.00 45.20 1.20 1.22 100.00 1.46
12W193 55.30 60.00 4.70 2.42 100.00 11.37
12W193 incl 55.30 56.30 1.00 10.60 100.00 10.60
12W193 79.20 80.40 1.20 0.88 100.00 1.06
12W193 86.80 112.50 25.70 1.02 100.00 26.21
12W193 incl 89.00 101.90 12.90 1.45 100.00 18.71
12W193 168.30 169.30 1.00 1.13 100.00 1.13
12W193 190.20 191.20 1.00 3.43 100.00 3.43
12W193 211.80 212.80 1.00 2.25 100.00 2.25
12W194 84.00 86.00 2.00 1.09 100.00 2.18
12W194 incl 85.00 86.00 1.00 1.27 100.00 1.27
12W194 120.00 125.20 5.20 0.52 100.00 2.70
12W194 135.20 136.20 1.00 0.75 100.00 0.75
12W194 246.10 253.90 7.80 1.71 100.00 13.34
12W194 261.60 263.60 2.00 0.96 100.00 1.92
12W194 293.50 295.70 2.20 0.72 100.00 1.58
12W195 212.20 214.30 2.10 4.14 100.00 8.69
12W195 229.60 237.40 7.80 1.44 100.00 11.23
12W195 242.00 243.00 1.00 7.19 100.00 7.19
12W195 250.00 251.00 1.00 2.24 100.00 2.24
12W195 254.60 266.10 11.50 1.30 100.00 14.95
12W196 49.60 50.60 1.00 5.92 100.00 5.92
12W196 61.40 62.70 1.30 1.31 100.00 1.70
12W196 74.30 83.70 9.40 0.74 100.00 6.96
12W196 90.10 94.10 4.00 0.77 100.00 3.08
12W196 116.00 117.00 1.00 1.72 100.00 1.72
12W197 39.70 42.90 3.20 1.78 100.00 5.70
12W197 46.40 48.00 1.60 0.71 100.00 1.14
12W197 57.60 59.60 2.00 0.53 100.00 1.06
12W197 93.70 94.70 1.00 0.52 100.00 0.52
12W198 49.80 50.80 1.00 0.64 100.00 0.64
12W199 96.70 97.70 1.00 0.58 100.00 0.58
12W199 100.20 101.20 1.00 0.85 100.00 0.85
12W199 103.20 104.20 1.00 0.50 100.00 0.50
12W199 135.30 139.30 4.00 3.51 100.00 14.04
12W199 incl 136.30 137.30 1.00 11.45 100.00 11.45
12W199 149.60 160.00 10.40 1.91 95.50 19.86
12W199 166.20 167.20 1.00 0.70 100.00 0.70
12W199 171.20 174.20 3.00 1.00 100.00 3.00
12W199 197.60 198.80 1.20 0.64 100.00 0.77
12W200 102.60 103.70 1.10 0.89 100.00 0.98
12W200 182.00 183.00 1.00 0.77 100.00 0.77
12W200 194.20 197.00 2.80 0.69 100.00 1.93
12W200 213.40 214.40 1.00 1.49 100.00 1.49
12W201 34.10 38.10 4.00 0.49 100.00 1.96
12W201 45.10 46.20 1.10 0.53 100.00 0.58
12W201 161.20 163.20 2.00 7.08 100.00 14.16
12W201 incl 161.20 162.20 1.00 13.25 100.00 13.25
12W201 176.00 177.00 1.00 0.55 100.00 0.55
12W202 60.30 61.30 1.00 1.79 100.00 1.79
12W202 77.60 78.80 1.20 9.04 100.00 10.85
12W203 39.50 40.50 1.00 0.52 100.00 0.52
12W203 57.40 58.40 1.00 3.89 100.00 3.89
12W203 97.00 98.00 1.00 4.44 100.00 4.44
12W203 147.40 150.80 3.40 4.82 100.00 16.39
12W203 incl 147.40 148.40 1.00 15.40 100.00 15.40
12W204 44.10 45.10 1.00 1.02 100.00 1.02
12W204 64.00 74.30 10.30 0.74 100.00 7.62
12W205 16.90 17.90 1.00 0.71 100.00 0.71
12W205 20.90 22.20 1.30 0.55 100.00 0.72
12W206 84.00 85.00 1.00 0.67 100.00 0.67
12W206 120.60 121.60 1.00 1.55 100.00 1.55
12W206 136.00 142.60 6.60 1.78 100.00 11.75
12W206 153.60 174.10 20.50 1.45 100.00 29.73
12W206 incl 169.50 170.90 1.40 7.67 100.00 10.74
12W207 7.00 12.00 5.00 1.07 99.00 5.35
12W208 68.50 73.50 5.00 1.59 100.00 7.95
12W208 92.70 93.70 1.00 0.51 100.00 0.51
12W209 38.60 39.70 1.10 0.89 100.00 0.98
12W209 67.60 68.60 1.00 0.57 100.00 0.57
12W209 75.90 81.20 5.30 0.65 100.00 3.45
12W210 1.80 3.80 2.00 0.85 100.00 1.70
12W210 28.00 31.20 3.20 1.57 100.00 5.02
12W210 70.20 71.20 1.00 2.01 100.00 2.01
12W210 77.20 78.20 1.00 1.04 100.00 1.04
12W211 6.10 7.40 1.30 0.66 100.00 0.86
12W211 39.10 40.10 1.00 0.81 100.00 0.81
12W212 3.80 4.80 1.00 1.74 100.00 1.74
12W212 126.30 127.30 1.00 1.20 100.00 1.20
12W212 142.90 153.70 10.80 1.40 100.00 15.12
12W212 incl 144.90 145.90 1.00 10.93 100.00 10.93
12W213 42.50 47.80 5.30 1.38 100.00 7.31
12W214 48.00 56.50 8.50 0.52 100.00 4.42
12W214 70.60 71.60 1.00 0.59 100.00 0.59
12W214 90.30 91.50 1.20 0.60 100.00 0.72
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