May 17, 2011
Edgewater Initiates Major Airborne Geophysical Survey of its Enchi Gold Project, Ghana, West Africa
Vancouver, British Columbia, Mr. George Salamis, President and CEO of Edgewater Exploration Ltd. ("Edgewater" or the "Company") 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.
President and CEO
For further information, please contact:
Ryan King, Vice President
Telephone: (604) 628-1012
"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."
You can view the Next News Releases item: Thu May 26, 2011, Edgewater Confirms Important Local Support for the Corcoesto Gold Project, Spain
You can view the Previous News Releases item: Wed May 4, 2011, Edgewater Intersects 1.58 g/t Gold over 24m and 1.41 g/t Gold over 34m on the Company's Enchi Gold Project in Ghana
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