Friday 14th December 2018

Resource Clips

Edgewater reports Spain Gold Results as high as 1.93 g/t over 38.7m

Resource Clips - essential news on junior gold mining and junior silver miningEdgewater Exploration Ltd TSXV:EDW announced assays from its Corcoesto Gold Project in northwest Spain. Highlights include

1.93 g/t gold over 38.7 metres
(including 21.2 g/t over 1.2 metres)
1.6 g/t over 41.2 metres
(including 10.63 g/t over 1 metre)
0.94 g/t over 63.7 metres
(including 3.79 g/t over 3.5 metres)
2.86 g/t over 19.7 metres
(including 5.2 g/t over 9.7 metres)
0.87 g/t over 55 metres
3.33 g/t over 9.4 metres
(including 5.1 g/t over 5.4 metres)

President/CEO George Salamis remarked, “In late 2011 we completed the preliminary economic assessment on the Corcoesto Gold Project with results including a 5% NPV of US$206 million and a 3.4-year payback using a $1,300-an-ounce gold price. Edgewater’s current market capitalization is approximately $30 million, valuing the company at $22 an ounce in all resource categories. We believe 2012 will be a significant year as we anticipate getting development permits and advancing a full feasibility study on the project. These latest drill results are part of a 20,000-metre infill program with a mandate to convert inferred resources to measured and indicated. As we proceed with this infill drilling and conduct further step-out holes, we anticipate also adding additional inferred gold resources to this highly prospective project.”

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Ryan King

by Greg Klein

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