Gold

Edgewater Exploration Ltd. (CVE:EDW) reported results from the ongoing drilling programme at its Enchi gold project in Ghana.

Edgewater Exploration Ltd. (TSXV:EDW) reported results from the ongoing drilling programme at its Enchi gold project in Ghana.

The press release is quoted as saying:

Three diamond drilling rigs are currently on site and 17,234m (149 drill holes) of a 38,000m programme contracted for 2011 have been completed. Drilling has been focussed on three main zones of gold mineralization, Boin, Nyam and Sewum, localised along the Bibiani Fault or associated regional scale fault splays (Nyambekyere Shear and Sewum Shear). The Bibiani Fault is host to the mineralization at Kinross Gold Corporation’s Chirano gold mine located 70kms northeast of Enchi. Mineralization intersected during Phase I including 0.35 g/t gold over 200m at the Sewum gold zone is evidence of a newly discovered gold system interpreted to be a much larger broad bulk tonnage system which is the source of the vast geochemical anomalies at the Sewum zone. Edgewater currently has assays pending for an additional 23 diamond drill holes from the Sewum zone.

Edgewater’s President and CEO,  George Salamis says:

“These encouraging drill results continue to highlight the vast gold resource potential at Enchi. For the first time at Enchi, Edgewater is intersecting broad zones of low grade gold mineralization, in some cases up to 200m in thickness at the Sewum Gold Zone. Sewum hosts over 5kms of the highest soil geochemical anomalies identified at Enchi and coupled with these recent diamond drill results we believe we are on the edges of a previously unidentified and large intrusive hosted gold system in the Sewum area. Elsewhere at Boin and Nyam, the predominance of several kilometres of strike length consisting of continuous gold mineralization in drill-core and trenches along several linear structures is a strong indication that we are in the presence of a very large gold mineralized system. With the Phase I program having successfully intersected shallow gold mineralization at Boin and Nyam, Phase II drilling has commenced and will be testing deeper regions of known mineralization in these areas, below depths of 200 meters from surface. At Kinross’ Chirano gold deposit to the north of Enchi, deeper drilling along shoots of near surface mineralization led to the discovery of high grade gold resources at depth. As Enchi has the same geological and structural setting as the Chirano mine we view the potential for gold zone discovery and continuity at depths of below 200 metres as being excellent.”

Click here to access the entire news release. 

Click here to access Edgewater’s company profile.(TSXV:EDW) 

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