Edgemont Gold drills 0.44 g/t gold over 27 metres at Dungate, British Columbia

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Edgemont Gold Corp. [EDGM-CSE] reported assay results from its recent phase 1 drill program at the 100%-optioned Dungate copper-gold porphyry project, located 6 km southeast of the town of Houston in the Omineca mining division of British Columbia.

Highlights of Phase I drilling includes gold intersections up to 0.44 g/t gold over 27 metres. Anomalous widespread gold intercepted in a halo forming a shell along the edges of the quartz feldspar porphyry intrusive and into the contact host rocks, The fully funded Phase II drill program is scheduled to start in late April 2022.

“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 (QFP), 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, totaling 3,427 metres, were drilled at Dungate in the fall of 2021. The target for this program was a coincident magnetic and IP anomaly of 1.2 km diameter that was interpreted to be a quartz feldspar porphyry intrusion. QFP was intersected in six of the seven holes.

Drilling 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 IP anomalies appear to correlate with gold mineralization forming the shell approximately 2500 x 300 metres on the curvilinear edge of the intrusion. See Figure 1 below for a map showing the drill holes completed at Dungate. The southern and northeastern lobes of the IP anomaly remain untested and will be tested in the upcoming Phase II drill program.

Highlights from this drilling include Hole DG21-04 that returned 27 metres of 0.44 g/t gold (including 6m @ 1.27g/t Au) and 27 metres of 0.24 g/t gold (sampling ended in gold zone) and 15 metres of 0.10 g/t gold (at bottom of hole). Hole DG21-07 returned 51 metres of 0.11 g/t gold. Hole DG21-06 returned 69 metres of 0.10 g/t gold. Hole DG21-01 returned 57 metres of 0.10 g/t gold. Hole DG21-02 returned 3 metres of 0.45 g/t gold and 0.45% zinc. Hole 2021-005 returned 6 metres of 0.17 g/t gold and 0.13% copper over 3 metres at 1.0 g/t gold.

In the copper-molybdenum zones Hole 2021-002 returned 237 metres of 0.06% copper and 0.007% molybdenum. Hole 2021-003 returned 249 metres of 0.07% coppe and 0.006% molybdenum (including 44m @ 0.09% Cu and 0.01% Mo).

Drill holes in the 2021 program were spaced 250-500 metres apart. This was to cover as much of the IP anomaly as possible with a small drill program and was assumed to be sufficient for targeting a porphyry copper deposit within a host QFP. Drill results have instead revealed structurally controlled gold mineralization within and proximal to the QFP. The very wide spacing of the 2021 drilling was insufficient to effectively explore this target type. The 2021 drilling shows preferential gold deposition on the periphery of the QFP.

Additionally, a porphyry was intersected at the bottom of hole DG21-04 following the intersection of 190 metres of volcanics. Prior to intersecting the bottom porphyry DG21-04 intersected 27 metres of 0.24 g/t gold followed by a sampling gap of 36 meters (last sample 0.28 g/t Au). This was followed by the intersection of the second porphyry with 15 metres of 0.10 g/t gold. The hole ended in porphyry.

Planning is underway for a drill program to commence as in late April 2022, as soon as weather conditions and logistics permit.



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