Tetra Tech to Conduct Feasibilty Study at Edgewater’s Corcoesto Gold Project

Edgewater Exploration Ltd.(TSXV:EDW) announced that it has engaged Wardrop, a Tetra Tech company, to complete a NI 43-101 feasibility study at its Corcoesto Gold project. Edgewater hope to have the feasibility study completed by Q4 2012.

As quoted in the press release:

Tetra Tech is an internationally recognized leader in the design and engineering of feasibility level gold and base metal projects, worldwide, and more specifically in Europe on several mandates. Their experience and expertise in developing feasibility level mining projects will be an important part for the development of the Corocesto Gold Project.

Edgewater, CEO, George Salamis, commented:

2012 is set to be a milestone year for Edgewater as we advance the Corcoesto project to the feasibility stage and further de-risk the project for the benefit of our shareholders. We are very pleased to award the Feasibility Study mandate to an experienced European represented firm such as Tetra Tech. At Corcoesto a significant infill drill program is on-going which has produced positive results thus far including: 1.9g/t gold over 38m and 1.6g/t gold over 41m. In addition, we have recently submitted the environmental impact assessment to the Galician government authorities, and have initiated capital financing discussions with several banks and financial institutions, in parallel with the feasibility process. We believe by early 2013 we will have a construction ready project and aim to have the majority of our project financing in place at this time with the assistance of our Project Finance Advisor Mr. AJ Ali. Subject to the outcome of the Bankable Feasibility Study, we remain firmly committed to seeing Corcoesto come to fruition as Galicia’s newest gold mine and ensure that the communities surrounding Corcoesto derive maximum benefit from a future operation.

Click here to read the Edgewater Exploration Ltd. (TSXV:EDW) press release