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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Mon Jan 10 2011 - 15:34:37 EST
Sunridge Gold Intercepts Strong Vms Mineralization At The Asmara Project,
Eritrea
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f10 January 2011
Sunridge Gold Corp. (SGC/TSX.V) is pleased to provide an update on the
current drilling program being conducted at the Asmara Project, Eritrea. Two
diamond drills have recently completed the first 35 diamond drill holes as
part of definition drilling at the high-grade copper-gold-zinc Debarwa VMS
(volcanogenic massive sulphide) deposit. Most holes drilled so far have
intersected strong VMS-style mineralization from the copper-enriched
supergene zone as well as the primary copper and zinc zones. It is expected
that assays from this drilling will be received by Sunridge in early
February.
These first 35 holes were drilled at the northern and middle sections of the
deposit for a total of 4,640 metres as part of the recently commenced
feasibility study at Debarwa. The drill program focused on further defining
the potential "Direct Shipping Ore" zone (a zone of +15% copper within the
copper-enriched supergene zone and referred to as the "DSO" zone) as well as
seeking extensions to the south and to the east, to extend the primary zone
in depth in the Main Zone, to capture structural data from the oriented core
and to gather more samples for ongoing metallurgical test work. The program
has about 1,400 metres remaining to drill, mainly in the Debarwa South zone.
A third drill will join the two existing drills at Debarwa in January to
initially drill wells for the ongoing hydrological studies, part of the
feasibility study, and then to move onto Sunridge's near-surface gold
targets at the Emba Derho and Gupo deposits as well as the Medrizien gold
target located in the northern part of the Asmara Project.
The Debarwa Feasibility Study
The Debarwa feasibility study will consider a standalone process plant using
flotation for the recovery of the base and precious metals and will study
various mining options over a forecast life of mine of approximately 9
years. The study will further investigate a direct shipping option of the
DSO zone to generate early cash flow and enhance economics of the deposit.
The completion of the feasibility study is expected in the third quarter of
2011.
Michael J. Hopley the President and Chief Executive Officer of Sunridge is
the Qualified Person for Sunridge and he is the person responsible for
preparation of the technical information contained in this news release.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the
acquisition, exploration, discovery and development of base and precious
metal projects on the Asmara Project in Eritrea and exploration properties
in Madagascar. Sunridge currently has approximately 117 million shares
outstanding and approximately $25 million in cash. Sunridge trades on the
TSX Venture Exchange under the symbol SGC. For additional information on the
Company and its projects please view the slide show on our website at
www.sunridgegold.com or call Don Halliday or Greg Davis at the numbers
listed below.
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