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Edgewater Exploration Ltd. (EDWZF)

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Last Post: 11/9/2016 4:37:46 PM - Followers: 3 - Board type: Free - Posts Today: 0

Edgewater Exploration LTD

Edgewater Exploration is a Canadian-based mineral exploration and mine development company with gold assets in prolific gold regions Ghana West Africa and La Coruña, Spain.

Together with FeatherStone Capital Advisors Edgewater has successfully secured two mid-stage gold projects from Red Back Mining and Lundin Mining. Red Back Mining has optioned to Edgewater the Enchi Gold Project in West Africa, Ghana, located 70 km southwest of Kinross Gold Corporations 5 million oz Chirano Gold Mine. The Enchi Gold Project covers a 40 Km strike length of Bibiani Shear Zone that hosts a number of major gold mines and deposits including the Chirano Gold Mine and the 5 million oz Bibiani gold deposit. Ghana is the second largest gold producer in Africa with 2009 production totalling 2.9 million ozs.

In Addition, the Company has recently purchased all of the outstanding shares of the Rio Narcea Gold Mines S.L a wholly-owned subsidiary of Lundin Mining. Rio Narcea owns a 100% interest in the Corcoesto Gold Deposit (”Corecoesto”) in northwest Spain as well as an additional 7 gold and gold-copper projects totaling 50,013 ha in southwest Spain. An updated Technical Report was recently filed for Corcoesto by Alan Noble, P.E. of Ore Reserves Engineering.

The Report estimates a Measured and Indicated resource of 5,657,000 tonnes grading 1.73 g/t gold and containting 315,000 ozs of gold (0.65g/t gold cut-off) with Inferred Resources of 16,542,000 grading 1.66 g/t gold containing 885,000 ozs of gold. Open many directions Edgewater believes the under-explored asset has the potential to expand beyond the current Resource Estimate. The company has begun a 12,000m drilling program in Spain and a 12,000m drilling program in Ghana.


Issued & Outstanding 49,535,500
Warrants ($0.76 June 2011) 3,000,000
Warrants ($1.40 Aug. 2013) 7,806,500
Broker Warrants ($1.10 Mar. 2012) 624,780
Fully Diluted 70,408,500
Cash $13,000,000
Management/Insiders 34%
Red Back Mining (Kinross) 4%


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