Edgewater Exploration Ltd.
TSX VENTURE : EDW

Edgewater Exploration Ltd.

October 08, 2009 09:30 ET

Edgewater Exploration Ltd.: Troy Gold Property-Results of 2009 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2009) -

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Edgewater Exploration Ltd. ("Edgewater" or the "Company") (TSX VENTURE:EDW) announces results of the 2009 exploration program on the Troy Gold Property.

The 2009 exploration program on the Troy Gold Property comprised diamond drilling (four holes for 438.8 m), geological mapping, and soil sampling accomplished over a 15 day period during July.

Drilling tested the Troy (TY09-01, -02) and the Road (TY09-03, -04) zones. Gold mineralization at these targets is hosted by shear zones characterized by strongly deformed chlorite-sericite schist, up to 7% disseminated pyrite and localized silica alteration. These shear zones locally bifurcate and exhibit variable and gradational strain. Although these targets have been channel sampled, they had not previously been drill-tested.

All four holes encountered minor, narrow intervals of low-grade gold mineralization. The most significant mineralization occurred at the Troy Zone in hole TY09-02 where three zones of anomalous gold are present (Table 1). At the Road Zone a 0.49 m sample in TY09-03 returned 3.30 g/t Au, while all other samples returned less than 0.6 g/t Au. In holes TY09-01 and TY09-04, all gold values were less than 0.5 g/t Au.

Table 1


Hole
From (m)To (m)Width (m)Au (g/t)
TY09-0214.0021.147.140.398
TY09-02
 including
24.01
27.34
33.18
31.18
9.17
3.84
0.546
0.865
TY09-0242.3247.325.000.360
TY09-0339.5041.031.531.34

A grid-style soil survey was conducted west of the Troy Zone to cover the strike extension of the host shear zone. Results from the soil sampling grid show three zones of weakly anomalous gold values (10 – 50 ppb Au) east, south, and west of Troy Lake. A single sample collected 100 m west of the Troy Zone, returned 1630 ppb Au.

These results suggest mineralized structures at the Troy Zone may continue westward. The single, highly anomalous sample corroborates earlier soil data but remains unexplained.

Drill results indicate shear zones at both the Troy and Road Zones contain anomalous gold consistent with that observed at surface. The soil grid has identified several areas of weakly anomalous gold which coincide with the westward projection of the Troy Shear Zone based on surface mapping. An unexplained region of highly anomalous gold in soils occurs immediately west of the Troy Zone. This area deserves follow-up work to investigate the potential for a higher-grade region of the Troy Shear Zone.
All samples were submitted to the ALS Laboratory Group preparation facility in Timmins, Ontario. Drill holes were sampled based on visible mineralization and alteration. Most samples were one meter in length, with smaller samples collected locally to constrain geological features (veins, structures and sulphide variation). A total of 159 samples (including QA/QC) were collected from drill core.

Dr. Darcy Baker supervised and approved the preparation of the technical content of this news release. Dr. Baker is a professional geologist with Equity Exploration Consultants Ltd., is registered with the Association of Professional Geoscientists of British Columbia and is a Qualified Person (QP) as defined by NI 43-101.

On behalf of the board of EDGEWATER EXPLORATION LTD.

Edward Farrauto

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Edgewater's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Neither 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.

Contact Information

  • Edgewater Exploration Ltd.
    Edward Farrauto
    President, Chief Executive Officer
    (604) 687-3992