EDM Resources is embarking on a significant exploration venture, focusing on the potential for gold deposits at its Scotia Mine. This strategic move is driven by compelling historical data, suggesting the presence of valuable gold mineralization within the company's Nova Scotia landholdings. The current program is designed to comprehensively assess these findings and pave the way for future development.
Unearthing Hidden Riches: EDM Resources' Golden Quest Begins
Initiating Gold Exploration: A New Chapter for Scotia Mine
EDM Resources Inc., trading on TSX-V as EDM and OTC as SWNLF, has officially commenced a dedicated gold exploration initiative at its Scotia Mine property in Nova Scotia. This marks a pivotal moment for the company as it systematically evaluates the potential for gold mineralization across its extensive land package.
Building on Promising Results: High-Grade Gold Assays Pave the Way
This exploration program is a direct continuation of encouraging high-grade gold assays reported in September 2025. During that period, lead concentrate composite samples yielded impressive results, with values reaching up to 142 grams per tonne (g/t) gold, and repeat assays further confirming concentrations of 157 g/t and 95.5 g/t gold. Zinc concentrate composite assays also showed significant gold presence, returning 2.93 g/t gold, with subsequent re-tests at 3.64 g/t and 1.46 g/t gold.
Independent Verification: Ensuring Data Integrity and Reliability
The concentrate assay findings, derived from historical materials processed during previous operations at the Scotia Mine, underwent rigorous independent verification. AGAT Laboratories conducted additional multi-element and gold analyses, confirming the accuracy and reliability of these initial promising results.
Strategic Objectives: Unlocking Gold Potential
While acknowledging that concentrate assay results may not directly reflect in-situ grades and are presented for exploratory context, the company highlights the strong potential for gold values in association with the existing zinc-lead mineralization. The current exploration strategy aims to pinpoint the origin and distribution of this gold across the property.
Comprehensive Exploration Plan: A Multi-faceted Approach
The planned work encompasses a thorough review and reinterpretation of historical drill core data and geological information. This will be complemented by detailed geological mapping of promising zones within the Meguma Terrane formation, alongside targeted sampling and assaying programs. A key focus will be the evaluation of gold potential situated beneath and adjacent to the primary zinc-lead carbonate zone. Ultimately, the objective is to identify priority drill targets for subsequent exploration phases.
Defining the Gold Opportunity: By-product or Standalone Target?
EDM's overarching goal is to ascertain whether the identified gold mineralization represents a distinct exploration target, a potential by-product opportunity within the current deposit, or a broader structural or stratigraphic characteristic embedded within the regional geology.
Enhancing Resource Estimates: Expanding the Scope
Concurrently with the gold-focused efforts, the company has initiated the preparation of an updated Mineral Resource Estimate. This updated assessment will consider the potential inclusion of additional gypsum and anhydrite mineral resources, drawing upon historical work and previously identified zones of interest.
Leadership's Vision: Advancing Towards Production and Value Creation
Mark Haywood, CEO of EDM Resources, expressed enthusiasm about this pivotal phase, stating, "With final permitting progressing and gold exploration now underway, EDM is entering a pivotal phase. Our objective is straightforward: advance the Scotia Mine toward restart while evaluating the potential for additional value through gold mineralization."
Shareholder Endorsement and Future Engagements
The company also confirmed that its Annual General Meeting of Shareholders, held on February 20, resulted in the approval of all proposed matters, including the election of directors, the appointment of auditors, and the renewal of its equity incentive plans. EDM plans to engage with investors and industry participants at the upcoming Prospectors & Developers Association of Canada convention in Toronto from March 1 to 4, inviting meetings with management during the event.
