Edgewater Exploration Ltd. Increases Enchi Gold Project Drill Program to 35,000m
23.03.2011 | Marketwire
- Increases Diamond Drill Program to 35,000m- Multiple Kilometres of Shallow Gold Mineralization Targets
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - March 23, 2011) - Mr. George Salamis, President and CEO of Edgewater Exploration Ltd. (TSX VENTURE: EDW) (OTCQX: EDWZF) ("Edgewater" or the "Company") is pleased to announce that it has significantly expanded its drilling campaign on the Enchi Gold Project ("the Project") in Ghana, West Africa. The Company has signed combined contracts totalling 35,000m of drilling to be conducted in 2011. To accelerate the discovery and delineation of the gold zones on the Project, the Company has recently executed a contract extension with Boart-Longyear guaranteeing a minimum of 30,000m bringing the total combined meterage to 35,000m and one additional drill rig through the 2011 drill campaign. With the expansion of this program, the total number of active drill rigs on the property will be three, with the potential addition of one additional rig in the coming months.
With the increased program, Edgewater will be able to drill multiple gold zones in-parallel, for the purpose of resource delineation, while reserving one rig for testing new high priority gold targets where previous drilling has been sparse or absent. These include the Eradi Gold Zone where three, +3km long gold-in-soil anomalies have been outlined by previous operators with one trench on one of the gold anomalies assaying 1.47g/t gold over 37m. Eradi has not been tested by diamond drilling. (See news release May 5th 2010 for further information on the Eradi Gold Zone.)
George Salamis, President and CEO, states; "Given the multiple kilometres of continuous, shallow gold mineralization encountered in drilling at the Boin and Nyambekyere gold zones, in addition to the untested potential of zones such as Sewum and Eradi, tripling the drill meterage to 35,000m for 2011 with 3 to 4 rigs will greatly accelerate our resource delineation and new target discovery potential."
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
"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."
Contact Information
Edgwater Exploration Ltd.
Ryan King
Vice President
(604) 628-1012
rking@edge-water.com
www.edge-water.com