EDM Receives High Gold Grades in Concentrate Assays
MWN-AI** Summary
EDM Resources Inc. (TSXV: EDM) has announced promising gold assay results from its Scotia Mine, located near Halifax, Nova Scotia. In a recent analysis of zinc and lead concentrates, the company reported striking gold grades of 142 g/t and 2.93 g/t. These findings follow a historical review of core samples from the mine, as earlier laboratory reports indicated significant gold and silver content.
The lead concentrate fire assay revealed additional repeat grades of 157 g/t and 95 g/t, while the zinc concentrate showed repeat results of 3.64 g/t and 1.46 g/t. These analyses were based on composite samples produced during the mine's operation in 2009 and processed through conventional methods. The company expects to produce around 417,144 tonnes of zinc concentrate and 194,004 tonnes of lead concentrate over the mine's lifespan, according to a 2021 Pre-Feasibility Study.
Mark Haywood, President & CEO of EDM, expressed excitement over the high gold intercepts and described the findings as a strong indication of the mine's potential. In response to the initial assay results, EDM engaged AGAT Laboratories to perform further multi-element analyses to verify the findings and to evaluate the gold potential more comprehensively.
These significant assay results are crucial for EDM as they not only affirm the mine's existing outputs but could also lead to enhanced exploration initiatives. The company holds several exploration licenses in the area and remains poised for future developments as it continues to assess the valuable mineral potential at Scotia Mine.
EDM is dedicated to responsible mining practices and remains publicly traded on both the TSX Venture Exchange and the Frankfurt Exchange.
MWN-AI** Analysis
EDM Resources Inc. (TSXV: EDM) has recently reported exceptionally high gold grades from concentrate assays at its Scotia Mine, with findings of 142 g/t in lead concentrates and 2.93 g/t in zinc concentrates. This is a significant positive development that could impact both investor sentiment and the company’s operational viability.
The very high gold grades, particularly the standout lead concentrate assay, suggest a strong potential for lucrative exploration upside in a market that continually seeks precious metals as a hedge against inflation and economic uncertainty. Investors should closely monitor the company’s forthcoming activities surrounding additional assays and the review of the gold potential in the Scotia Mine. Successful exploration efforts could enhance the asset value significantly, given the positive momentum in gold prices.
The company is on track according to its 2021 Pre-Feasibility Study, which estimated that 417,144 tonnes of zinc concentrate and 194,004 tonnes of lead concentrate are expected over the mine’s life. This not only implies robust operational performance but also a diversified income stream from both lead and zinc, alongside the newly highlighted gold potential.
As EDM conducts further analysis and engages professional geological services, the market is likely to react to news updates regarding exploration progress. Investors might consider accumulating shares at current levels, especially if they express confidence in the company’s strategic direction and management's ability to capitalize on these assay results. However, it is crucial to remain cautious; the mining sector is inherently volatile, and external factors such as commodity price fluctuations and regulatory changes can significantly impact operations.
In summary, this announcement represents a pivotal moment for EDM Resources Inc. Investors should keep a close watch on further assay results and overall market conditions as these will guide future investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Halifax, Nova Scotia--(Newsfile Corp. - September 3, 2025) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) ("EDM" or the "Company") is pleased to announce that it has received gold assays of 2.93 g/t and 142 g/t in its assay sweep of zinc and lead concentrates at the Scotia Mine.
Highlights of the Gold Results
- Lead concentrate fire assay composite sample 142 g/t gold (with repeat assays of 157 g/t and 95.0 g/t gold)
- Zinc concentrate fire assay composite sample 2.93 g/t gold (with repeat assays of 3.64 g/t and 1.46 g/t gold)
- 417,144 tonnes of zinc concentrate and 194,004 tonnes lead concentrate are expected to be produced over the Scotia Mine's life according to the 2021 Pre-Feasibility Study
"Recently we examined a limited amount of historical core from underneath the main zinc and lead carbonateous zone in the Meguma Terrane formation because we observed strong gold and silver grades in an independent laboratory assay report. The assays were from when Scotia Mine was last in operation in 2009. In conducting a detailed element assay sweep of some of the large concentrate piles in the Load Out Facility at the mill, we were excited to observe very high initial gold grades of 2.93 g/t and 142 g/t," said Mark Haywood, President & CEO. "With these very high gold grades, to complete our due diligence on the results, we instructed AGAT Laboratories carry out an additional multi-element and gold analyses which provided strong confirmation of the initial results. As a result of the positive confirmation assaying, the Company is planning to conduct additional assaying of the concentrates and a review the gold potential at the Scotia Mine using professional geological services."
The Company completed a 4.68kg composite sample (#232151) of a 2.9 cubic metre estimated lead concentrate pile and a 5.2kg composite sample (#232152) of a 19.5 cubic metre estimated zinc concentrate pile at the Scotia Mine. The concentrate was produced in approximately 2009 from mineralization extracted from the main pit and processed via the Scotia Mine's conventional crushing, grinding and flotation circuits. The composite samples were then processed at the AGAT Calgary laboratory, Alberta and at AGAT Thunder Bay, Ontario. Following the initial results, the Company instructed AGAT Laboratories to conduct an additional multi-element and gold analyses using the same protocols applied in the original sample, as well as create new splits of the archived sample reject material and then prepare and analyze a new pulp fraction.
Table 1: Selected Assay Results
| Sample Number | Sample Description | Au g/t | Ag ppm | Cu ppm | Mg % | Mn ppm | Pb Ppm | Zn Ppm |
| 6413302 | 232151 | 142.0 | 16.5 | 721 | 0.73 | 854 | >10000 | >50000 |
| 6842942 | 232151 | 157.0 | 15.1 | 689 | 0.72 | 835 | 436,000 | 98,000 |
| 6842944 | 232151-R | 95.5 | 19.0 | 596 | 0.78 | 884 | 419,000 | 101,000 |
| 6413303 | 232152 | 2.93 | 3.1 | 610 | 2.94 | 2,370 | >10000 | >50000 |
| 6842943 | 232152 | 3.64 | 3.3 | 586 | 2.82 | 2,270 | 37,200 | 244,000 |
| 6842945 | 232152-R | 1.46 | 5.5 | 584 | 2.72 | 2,190 | 35,600 | 236,000 |
According to the 2021 Pre-Feasibility Study, 417,144 tonnes of zinc concentrate and 194,004 tonnes lead concentrate are expected to be produced over the mine life.
Qualified Persons
Mr. Mark Haywood, B. Eng. (Mining Engineering) Hons, LLB of Scotia Mine Limited and EDM Resources Inc., and a Qualified Person as defined under NI43-101, has approved the technical information contained in this news release.
About EDM Resources Inc.
EDM is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. Through its wholly owned subsidiary, EDM also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.
The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM" and the Frankfurt Exchange under the symbol "P3Z". For more information, please contact:
| Mark Haywood Arnab De Manish Grigo Telephone Facsimile Email & Web | President & Chief Executive Officer Chief Financial Officer Corporate Development +1 (902) 482 4481 +1 (902) 422 2388 info@EDMresources.com & www.EDMresources.com |
The Company's corporate filings and technical reports can be viewed on the Company's SEDAR+ profile at www.sedarplus.ca. Further information on EDM is also available on Facebook at http://www.facebook.com/EDMresources.inc, Twitter at http://www.twitter.com/EDMresources, LinkedIn at http://www.linkedin.com/company/EDMresources and YouTube at https://youtube.com/@edmresources?si=Bvyighil3mSoOKnD.
CAUTIONARY STATEMENTS
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain forward-looking statements, including plans, objectives, estimates, and expectations regarding EDM Resources Inc.'s future activities. Such statements are identified by words like "believes," "expects," "plans," "estimates," "may," "could," or similar terms. Forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. These include, but are not limited to, mineral resource estimates, exploration and development results, project timing, market conditions, commodity prices, financing, and operational risks. For a discussion of risk factors, please refer to EDM's management's discussion and analysis for the year ended December 31, 2024. EDM does not guarantee the accuracy of forward-looking statements and readers should not place undue reliance on them.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264913
FAQ**
What impact does the recent gold assay results from EDM Resources Inc. (EDM:CC) have on the overall market perception of mining activities in Halifax, Nova Scotia?
How does the mineral yield from Scotia Mine compare with other mining operations in Nova Scotia, particularly in terms of zinc and lead concentrates?
What are the anticipated environmental implications of increased mining activity by EDM Resources Inc. (EDM:CC) near Halifax, Nova Scotia?
How might the results of EDM Resources Inc. (EDM:CC) influence future investments and exploration licenses in the region surrounding Halifax, Nova Scotia?
**MWN-AI FAQ is based on asking OpenAI questions about Edm Resources Inc. (TSXVC: EDM:CC).
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