VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Edgewater Exploration Ltd. (TSX VENTURE: EDW)(OTCQX: EDWZF) ("Edgewater" or the "Company") is pleased to report it has now received final assay results from the in-fill diamond drilling program on the Company's 100% owned Corcoesto Gold Project, Galicia, Northwest Spain.
George Salamis, President and CEO stated: "Over the past twelve months we have consistently released results from the infill drilling program at Corcoesto that met or exceeded our expectations in terms of intersected widths and grades, with a number of gold zones returning longer widths and better grades than anticipated (see Edgewater press release March 29, 2012 which included 66.5 m grading 2.00 g/t Au). The In-fill drilling results continue to demonstrate excellent grade and continuity of the gold mineralization at Corcoesto and all 50,000 m of infill drilling will be included in an updated NI 43-101 Resource Estimate being prepared by Tetra Tech which is scheduled to be completed during Q1 this year. The Tetra Tech Feasibility Study for Corcoesto will be completed in early Q2/2013."
Highlights of recent drilling results are tabulated below and include: 56.60 m grading 1.38 g/t Au (DDH 12W271), 15.90 m grading 2.04 g/t Au (DDH 12W273) and 6.20 m grading 8.18 g/t Au (DDH 12W261).
Table 1 Highlight of Recent Corcoesto Drill Results--------------------------------------------------------------------------------------------------------------------------------------------------------Drill Hole From To Length Au m m (metres) g/t--------------------------------------------------------------------------------------------------------------------------------------------------------12W271 106.90 163.50 56.60 1.3812W261 113.20 119.40 6.20 8.1812W261 incl 113.20 115.20 2.00 22.4312W264 165.60 171.00 5.40 6.7212W264 incl 167.90 170.00 2.10 12.8612W273 105.70 110.00 4.30 7.7312W273 incl 108.90 110.00 1.10 19.4512W251 17.40 33.30 15.90 2.0412W251 incl 31.30 32.30 1.00 19.8012W267 201.60 215.40 13.80 2.2912W267 incl 203.60 204.90 1.30 16.1012W259 119.10 137.20 18.10 1.3412W253 38.00 50.00 12.00 1.7112W256 77.10 88.90 11.80 1.6312W267 172.80 182.00 9.20 1.8512W258 251.80 271.00 19.20 0.8212W275 203.00 210.40 7.40 2.07--------------------------------------------------------------------------------------------------------------------------------------------------------Notes:1) All reported intercepts are core lengths and true widths are estimated at 80 per cent of core lengths.2) Weighted averages calculated using uncut assays.3) See Table attached for complete results.
