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Edgemont Gold Corp. (CSE:EDGM) (FSE:EG8) has received a Multi-Year Area-Based Permit from the B.C. Ministry of Mines allowing the company to begin a fully funded initial Phase I drill program this summer at its Dungate coppergold porphyry project. The Dungate copper-gold porphyry project is located 6 km south of Houston, 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 kilometres to the south.
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The initial property, acquired in 2018, consisted of two mineral claims covering 546 hectares, with an additional three minerals claims staked in 2020, bringing the total area to 1,582 hectares, that can be explored year-round by all-season roads.
The Phase I drill program will be comprised of at least six 500 metre drill holes from six permitted drill pad locations 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.
DDH C75-1, at 333 metres in depth, the only deep hole on the property, was drilled by Cities Services in 1975 and drill logs reported 142 metres of "abundant chalcopyrite" at the bottom of the hole. No assay results are available.
The first holes to be drilled at Dungate will test a strong cohesive circular chargeable anomaly approximately 1.2 kilometres in diameter identified by Edgemont during a 16-line kilometre 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.
Stuart Rogers, CEO, stated: "We are excited to be able to move forward with our initial drill program at Dungate. 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 (less than 100 metres) drill holes. With the comprehensive geophysical data now available to us through our recent Induced Polarization geophysical survey, we are looking forward to the potential for a significant discovery at this compelling copper/gold porphyry target."
For more information, please visit the company's website at www.EdgemontGold.com, contact Stuart Rogers, CEO, at 778-239-3775 or for investor relations, contact Kevin Arias, VP Corporate Development at 778-773-4786 or by email at info@EdgemontGold.com.
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