detente mv

Edgemont Receives Multi-Year Area-Based Permit for Drilling at Dungate Copper/Gold Porphyry Project near Houston, B.C., Drilling Contractor Retained

Edgemont Gold Corp. (CSE: EDGM) (FSE: EG8) ("Edgemont") is pleased to announce that the B.C. Ministry of Mines has issued a Multi-Year Area-Based Permit that will allow Edgemont to begin a fully funded initial Phase I drill program this summer at its Dungate coppergold porphyry project located 6 km south of Houston, B.C.

The Phase I drill program, announced in the May 17thnews release, will be comprised of at least six 500 metre drill holes from six permitted drill pad location to test mineralization at depth. Following successful completion of this initial drill program, the five-year permit will allow Edgemont to identify and drill from a further ten drill locations next year, subject to the conditions of the permit. Supplemental drill locations can be added subject to normal notification requirements and successful reclamation of completed drill holes.

"We are excited to be able to move forward with our initial drill program at Dungate," stated Edgemont CEO Stuart Rogers. "We have retained Apex Diamond Drilling Ltd. of Smithers, B.C. and logistics are underway for a late July drill startup.

We have identified several large IP anomalies that have never been properly drill tested at depth, and are encouraged by the recent success at Sun Summit's nearby Buck project which hosts geological similarities to the breccia zone identified in drill logs from historic drilling at Dungate in 1975.

The last drilling at Dungate was in 1976 and was only comprised of shallow (

The first holes to be drilled at Dungate will test a strong cohesive circular chargeable anomaly approximately 1.2 km in diameter (chargeability response varies from 15mv/v to greater than 60 mv/v) identified by Edgemont during a 16 line km IP survey conducted in September 2020. In addition, the magnetic and IP surveys also identified another possible intrusion, much larger in size, under overburden to the north of the initial Dungate showing. This new target will be drill tested for the first time during this summer exploration program.

The only deep hole (333 m) on the property, DDH C75-1, was drilled by Cities Services in 1975 and drill logs reported 142 m of "abundant chalcopyrite" at the bottom of the hole. No assay results are available. The drill log also indicates that 24 m zone of quartz-pyrite ("Qtz-Py") breccia was intercepted about 90 meters downhole with similar characteristics to that reported by Sun Summit at the nearby Buck discovery this January. This zone appears to be an exciting gold target within the larger copper-gold porphyry and will be tested in the first drill hole planned for this summer. A map interpreting the location of this possible Qtz-Py breccia zone and indicating the locations of the initial six drill holes planned at Dungate can be accessed here:

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6955/87580_75035e60e4008909_002.jpg

Figure 1

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6955/87580_75035e60e4008909_002full.jpg

The technical information contained in this news release has been approved by Joseph Campbell, P. Geo, a Director of Edgemont, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

About Edgemont Gold Corp:

Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km south of Houston, BC, in a region with a history of successful mining projects including the Equity Silver Mine, Imperial Metals' Huckleberry Mine, and the more recent gold-silver discovery at Sun Summit Minerals' Buck Project which sits just 7 km to the south.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6955/87580_75035e60e4008909_003.jpg

Figure 2

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6955/87580_75035e60e4008909_003full.jpg

Having acquired an interest in its initial claims at Dungate in 2018, the Company now holds five mineral tenures covering 1,582.2 hectares that can be explored year-round by all-season roads. For more information, please visit our website at www.edgemontgold.com.

For further information, please contact:

Stuart Rogers
Chief Executive Officer
Tel: (778) 239-3775
www.edgemontgold.com

Kevin Arias
VP Corporate Development
Tel: (778) 773-4786
E-mail: info@edgemontgold.com

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87580

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Many Peaks Minerals Ltd (ASX: MPK) – Trading Halt

Many Peaks Minerals Ltd (ASX: MPK) – Trading Halt

Description

The securities of Many Peaks Minerals Ltd (‘MPK’) will be placed in trading halt at the request of MPK, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 3 April 2024 or when the announcement is released to the market.

Keep reading...Show less
Don Hansen, gold bars.

Investor Education: Gold vs. US Dollar Outlook with Expert Don Hansen

Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network.

He discussed the US dollar's rise and fall as the world's reserve currency, as well as how China is shifting away from the dollar and toward gold. Hansen also went over data on the inverse relationship between the gold price and the S&P 500 (INDEXSP:.INX), explaining how decades-long patterns show where both are heading.

"The exciting part to me is when we look at the previous data you can see that the stock market phase is about to end. It's at a very high level and it's at the end of its period," he explained during the interview.

Keep reading...Show less
A small golden bull statue on top of US money.

Goldman Sachs Bullish on Commodities, Shares 2024 Price Calls for Gold and Copper

Goldman Sachs (NYSE:GS) is maintaining its bullish stance on commodities as they continue to enjoy strong cyclical and structural support, and as the US and Europe move closer to cutting interest rates.

The American investment bank said it sees raw materials potentially returning 15 percent in 2024.

“We find that US rate cuts in non-recessionary environments lead to higher commodity prices, with the biggest boost to metals (copper and gold in particular), followed by crude oil,” Bloomberg quotes analysts Samantha Dart and Daan Struyven as saying in a note this past Sunday (March 24). “Importantly, the positive impact on prices tends to increase with time, as the growth impulse from looser financial conditions filters through.”

Keep reading...Show less
Top 5 ASX Gold Stocks That Pay Dividends (Updated 2024)

Top 5 ASX Gold Stocks That Pay Dividends (Updated 2024)

If you're interested in gold stocks, it's worth taking a look at the top ASX gold stocks that pay dividends.

A dividend is a sum of money that is paid regularly by a company to a class of its shareholders out of its earnings. Dividends are often issued as cash payments, but can also be issued as stock or other property.

Read on for a deeper look at gold dividend stocks and a breakdown of the top five dividend-paying ASX gold stocks.

Keep reading...Show less
Falco Resources Ltd. (TSX.V: FPC)

Falco Reaches Another Major Milestone and Confirms Admissibility of Its Horne 5 Project’s Environmental Impact Assessment

Falco Resources Ltd. (TSX.V: FPC) (“Falco” or the “Corporation”) is pleased to announce the receipt of confirmation of the admissibility of its Environmental Impact Assessment (“EIA”) for the Horne 5 Project located in Rouyn-Noranda (the “Admissibility”) from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks (“MEFCCWP”).

Since the initial EIA filing in 2018, Falco has completed extensive field work and studies, in addition to providing the documentation in order to respond to questions and requests for information raised by the MEFCCWP. Driven by ESG principles, the EIA was conducted by a multidisciplinary team comprised of Falco’s employees, experts and partners, and highlights the Horne 5 Project’s benefits and impacts on its physical, biological and human environments. The EIA includes various measures to avoid, mitigate or compensate for these impacts, and to enhance the project’s overall benefits, in a strong corporate governance environment. The EIA and all related documentation are publicly available on the Environmental Assessment Register of the MEFCCWP.

Keep reading...Show less
R3D Resources

$1.5 Million in Firm Commitments Received for Capital Raisings

$0.5 million partial underwrite of the Rights Issue & $1.0 million in further debt or equity to be raised by end April 2024

R3D Resources Limited (ASX: R3D) (the Company) (renamed Tartana Minerals Limited) is pleased to provide an update on the 1 for 5 pro rata entitlement offer of New Shares in the Company at an issue price of $0.05 per New Share, as well as 1 attaching Option exercisable at $0.10 expiring 31 December 2025 for each 2 New Shares subscribed for (the Rights Issue) which opened in November 2023.

Keep reading...Show less

Latest Press Releases

Related News

×