May 31, 2022 – Vancouver, B.C. – Edgemont Gold Corp. (CSE: EDGM, FRA: EG8) (“Edgemont”) has successfully completed a five hole Phase II drill program at the Dungate copper-gold porphyry project located 6 km southeast of the town of Houston, B.C.. A total of 2,046 metres were drilled, following up on widespread copper and gold mineralization identified during Phase I drilling in 2021.
A map indicating the location and drill trace of all Phase II drill holes is below:
2022 Drill Hole Location Map
The first hole of the program, DG22-08, was drilled to a vertical depth of just over 500 metres and tested a hidden intrusive identified by magnetic surveys under overburden to the north of the Quartz Feldspar Porphyry (“QFP”) tested during Phase I drilling in 2021. The target is a strong magnetic anomaly with a pronounced central u-shaped depleted magnetic signal. The hole intercepted approximately 350 m of quartz flooded and replaced volcanics with pyrite veinlets coincident with the depleted magnetic signature.
The remaining four holes followed up on drilling in 2021 (including 27 m @ 0.44 g/t Au in DG21-04) that revealed structurally controlled gold mineralization within and proximal to the QFP (see our news release of March 28, 2022). Initial observations from these holes include:
- Hole DG22-09 was collared on a new drill pad 280 m south of hole DG22-08 (see map above) and was drilled at a dip of -50 degrees to a down hole depth of 450 m. This hole intercepted alternating bands of volcanics and QFP with structurally controlled sericite-silica-kpsar alteration with zones of high pyrite concentrations.
- Hole DG22-10 was drilled to a downhole depth of 411 m and tested a depressed magnetic signature on the edge of the QFP that appears to coincide with the gold zones. This hole remained in highly sericitic-clay alteration throughout its length, with zones of intense quartz stockwork with abundant pyrite.
- Hole DG22-11 was drilled to 351 m to test a linear magnetic signature coincident with the edge of a high IP chargeability anomaly, and coincident with a broad zone of anomalous gold intersected in hole DG21-01. This drill hole remained in highly altered QFP and intersected 56 meters of intense quartz-pyrite-magnetite stockwork.
- Hole DG22-12 was drilled to 243 m to test a depleted magnetic signature coincident with the edge of a high IP chargeability anomaly. This hole remained in altered QFP and intersected 20 meters of quartz-pyrite quartz veins. .
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. Core logging, cutting and sampling is expected to be completed this week; assay results will be reported when received and interpreted.
The technical information contained in this news release has been approved by Joseph Campbell, P. Geo, a Director of Edgemont, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Edgemont Gold Corp:
Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km southeast of Houston, B.C., in a region with a history of successful mining projects including the Equity Silver Mine, Imperial Metals' Huckleberry Mine, and the more recent gold-silver discovery at Sun Summit Minerals' Buck Project which sits just 7 km to the south.
Having acquired an interest in its initial claims at Dungate in 2018, the Company now holds five mineral tenures covering 1,582.2 hectares that can be explored year-round by all-season roads. For more information, please visit our website at www.edgemontgold.com.
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