- Edgemont (EDGM) drills structurally controlled Gold Zone at Dungate Copper-Gold Porphyry Project
- Phase I drilling includes gold intersections up to 0.44 g/t Au over 27m
- Fully funded Phase II drill program scheduled to start as early as late April 2022
- A 3-D model is being constructed of the drill hole traces within the IP and magnetic anomalies to identify potential controlling structures on the gold zones
- Edgemont (EDGM) is down 67.86 per cent, trading at C$0.09 at 10:32 am ET
Edgemont Gold Corp. (EDGM) has shared assay results from its recent Phase 1 drill program at the Dungate copper-gold porphyry project in B.C.
“Initial results from our Phase 1 drill program at Dungate indicate a broad curvilinear gold zone shell along the edges of the quartz-feldspar porphyry, which was intersected in six of our seven holes,” stated Stuart Rogers, President, and CEO.
“With assay results in hand, we are excited to be able to finalize our drill plan and begin our Phase II drill program next month.”
A total of seven holes, totalling 3,427 meters, were drilled at Dungate in the fall of 2021.
The target for this program was a coincident magnetic and IP anomaly of 1.2 kilometres in diameter that was interpreted to be a quartz-feldspar porphyry intrusion. QFP was intersected in six of the seven holes.
Drilling has confirmed that anomalous gold is widespread in a halo forming a shell along the edges of the QFP and into the contact host rocks.
The western, northern, and eastern lobes of the Induced Polarization anomalies appear to correlate with gold mineralization forming the shell approximately 2500m x 300m on the curvilinear edge of the intrusion.
As indicated on the map, the southern and northeastern lobes of the IP anomaly remain untested and will be tested in the upcoming Phase II drill program.
The QFP generally had two to 10 per cent sulphides occurring as disseminations, replacements of mafic minerals, fracture fillings, veins, and semi-massive quartz-sulphide breccia zones.
The sulphide content in the drilling effectively explains the high IP chargeability anomaly.
Most of the sulfides were pyrite, but discrete disseminations of chalcopyrite and molybdenite were commonly observed in the QFP.
Broad anomalous copper and molybdenum intervals were intersected in the heart of the QFP indicating pervasive mineralization, but with no higher grade concentrations (>0.20 per cent Cu) encountered.
Several holes, particularly on the edges of the magnetic and IP anomalies, intersected intermediate to mafic volcanics, volcanic fragmental units, breccias, and agglomerates. Hole DG21-05 did not intersect QFP and encountered altered intermediate to mafic volcanics with abundant iron sulfides in veins and fractures.
Planning is currently underway for a drill program to commence as in late April 2022, as soon as weather conditions and logistics permit.
A 3-D model is being constructed of the drill hole traces within the IP and magnetic anomalies to identify potential controlling structures on the gold zones and assist with drill targeting.
Drilling in 2002 will be oriented to reflect the curvilinear gold zone shell identified by drilling in 2021 and potential target areas indicated on the attached map include the untested lobes of IP/magnetic anomalies to the south and northeast of Phase 1 drilling.
It also includes the northwest edge of IP anomaly where significant gold intersections occur, and an IP resistivity anomaly suggests possible silica enrichment.
As structural gold targets require more precise sampling, assaying will be done on 1.0-1.5m sample lengths instead of the 3.0m sampling protocol used in 2021
Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km southeast of Houston, B.C.
Edgemont (EDGM) is down 67.86 per cent, trading at C$0.09 at 10:32 am ET.
