Edgewater intersects new gold at Enchi project in Ghana, including over 200-metre interval

Edgewater Exploration (CVE:EDW) announced Monday it discovered a new bulk gold zone at the Enchi gold project, located in southwestern Ghana.

Approximately 17,234 metres over 149 drill holes have been completed as part of the company's 38,000-metre diamond drill program on the property. Drilling has focused on three main zones, including the Boin, Nyam, and Sewum zones, each located along or near the Bibiani fault.

The Boin zone has found anomalous gold intercepts over a known strike length in excess of ten kilometres.

President and CEO, George Salamis commented: "For the first time at Enchi, Edgewater is intersecting broad zones of low grade gold mineralization, in some cases up to 200m in thickness at the Sewum Gold Zone.

"With the Phase I program having successfully intersected shallow gold mineralization at Boin and Nyam, Phase II drilling has commenced and will be testing deeper regions of known mineralization in these areas, below depths of 200 meters from surface."

The mineral exploration company said it remains on track to complete an initial NI 43-101 compliant resource estimate during the fourth quarter of 2011.

Assays from the area returned 28 metres grading 1.12 grams per tonne (g/t) gold, including nine metres at 1.8 g/t gold in hole KBDDH016, while hole KBDDH022 found 1.05 g/t gold over 19 metres.

The first phase of diamond drilling at the property was recently completed, with a second phase having begun earlier this month. This second phase will target down-plunge mineralization at depths averaging 200 metres below surface.

Drilling at the Nyam gold zone, including 3,969 metres throughout 42 holes, has been completed. The mineralization in the area has been continuous over 1,600 metres, and remains open in all directions.

Notable results from the drill program include eight metres grading 5.43 g/t gold in hole NBDDH039. Assays from hole NBDDH041 returned 36 metres grading 0.6 g/t gold, including 13 metres at 1.06 g/t gold, while hole NBDDH042 found 40 metres at 0.7 g/t gold, including 1.15 g/t gold over 11 metres.

A second phase of drilling has been planned to test and expand the mineralized structure along strike and at depth.

At the Sewum gold zone, 70 holes totaling 9,878 metres were drilled to test the seven-kilometre-ling gold geochemical anomaly.

Assays resulted in 200.1 metres grading 0.35 g/t gold, including seven metres at 1.21 g/t gold, in hole SWDDH038. Meanwhile, hole SWDDH043 returned 61 metres grading 0.39 g/t gold, including four metres at 2.54 g/t gold.

Assays for 23 additional holes at the Sewum property are still pending.