Edgewater Initiates Major Airborne Geophysical Survey of Its Enchi Gold Project, Ghana, West Africa
May 17 2011 - 9:30AM
Marketwired
Mr. George Salamis, President and CEO of Edgewater Exploration Ltd.
("Edgewater" or the "Company") (TSX VENTURE: EDW)(OTCQX: EDWZF), is
pleased to announce that Canadian based Geotech Airborne Limited
("Geotech"), has been contracted to conduct a helicopter-borne
geophysical survey covering the Enchi Gold Project ("the Project")
exploration licenses in southwest Ghana, West Africa. The airborne
Versatile Time-Domain Electromagnetic ("VTEM"), magnetic, and
radiometric survey will include 3,080 line-kilometres of data
collection flown at 200 metre line spacing's, covering a total area
of 560 square kilometres.
The Bibiani Shear Zone marks the eastern margin of the Sefwi
Greenstone belt and hosts the Chirano (5M oz) and Bibiani (5M oz)
Goldmines located 40 and 60km north of Edgewater's Enchi Project
respectively. The Project area covers a 55km strike length of the
Bibiani Shear Zone and related parallel structures (Sewum and
Nyambekyere Shear Zones). A VTEM airborne survey has never
previously been flown over the Sefwi Greenstone Belt and Bibiani
Fault Zone within the Enchi license area.
Edgewater has selected the VTEM system for its proven superior
penetration depth of greater than 400m and low base frequency for
enhanced penetration in thick conductive clay soils often
encountered in the Enchi Project area. Edgewater's current 30,000m
drill campaign on the Project has been successfully targeting
shallow gold mineralization less than 100m from surface. With the
collection of the VTEM geophysical data combined with geological
and structural information many deeper zones of prospective gold
mineralization can be targeted while continuing to trace the gold
systems along strike. The survey will provide much better
definition of the Bibiani, Sewum and Nyambekyere Shear Zones which
are the three main regional structural controls to gold
mineralization in the district.
President and CEO, George Salamis, adds, "The airborne
geophysical survey data will be an excellent exploration tool to
allow us to better define the location and distribution of
structurally controlled gold zones on the Project such as Nyam and
Boin where gold mineralization has been successfully outlined over
hundreds of metres by diamond drilling. The VTEM survey will make
our future drilling in these areas more effective. In undrilled
areas such as Eradi and parts of Sewum where trenching has
previously identified extensive gold mineralization on surface, we
expect that the airborne data will allow us to better define future
drill targets leading to additional discoveries of currently
unrecognized gold systems on the Enchi Project."
The survey, scheduled to be completed by early July of this
year, is aimed at identifying faulted and or bi-furcated geological
contacts, zones of silica alteration (resistive rocks) and
graphitic shears (conductive rocks). These are all features
commonly associated with gold mineralization in the Ashanti and
Sefwi Greenstone Belts. Results of the survey are also expected to
identify drill targets in previously unexplored areas.
Mr. Gregory Smith, P.Geo, the Vice-President of Exploration of
the Company, is the Qualified Person as defined by NI 43-101, and
is responsible for the accuracy of the technical data and
information contained in this news release.
About Edgewater Exploration Ltd.
Edgewater is a mineral exploration company focused principally
on acquisitions, advancement and development of precious metal
properties. Edgewater is currently developing the Enchi Gold
Project in Ghana, West Africa and the Corcoesto Gold Project in
northwest Spain.
On behalf of the board of EDGEWATER EXPLORATION LTD.
George Salamis, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Edgewater Exploration Ltd. Ryan King Vice President
(604) 628-1012 rking@edge-water.com www.edge-water.com
Edgewater Exploration (CE) (USOTC:EDWZF)
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