Edgewater Exploration has reported additional drill results for its fully owned Corcoesto Gold Project in Northwest Spain.
In-fill drilling is being performed on the Corcoesto Gold Project, which is designed to improve the quality of inferred resources to an indicated and measured category as a section of a definitive feasibility study. Superior grades and widths of gold mineralization are being intersected including DDH11W41 that returned .93g/t Au over 38.7 m and 0.87g/t Au over 55.0 m and DDH11W47 returned 1.60g/t Au over 41.0 m.
According to the CEO and President of Edgewater, George Salamis, the year 2012 will be a significant year for the company as it will be receiving exploitation development permits and will be conducting a complete feasibility study on the project. As the company continues the in-fill drilling and conducts additional step-out holes, the company will consider adding further inferred gold resources to this prospective project.
The results for the preliminary economic assessment ("PEA") on the Corcoesto Gold Project were declared on November 17, 2011. The NI technical report NI 43-101 for the PEA was submitted to the regulatory authorities and offered on SEDAR on December 30, 2011.
Sample preparation and analyses are performed using standard industry practices. The samples are sent to Chemex Lab in Seville, Spain and sample analyses were done at separate commercial facilities of ALS Canada in Vancouver for As and ALS Romania for gold. Both labs have the ISO/IEC 17025:2005 certificate.
Sampling and analyses involve a methodical QA/QC program including inseryion of duplicate samples, blanks and check assays. A QA/QC result review indicates that there is no considerable bias and all results are highly consistent.
Source: http://www.edgewaterx.com