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From: Tsegai Emmanuel (emmanuelt40@gmail.com)
Date: Thu Feb 03 2011 - 08:14:39 EST
---------- Forwarded message ----------
*Thursday, February 03, 2011
Sunridge Gold Reports More High-Grade Copper Drill Results From Debarwa
Deposit, Asmara Project, Eritrea*
------------------------------
Sunridge Gold Corp. (SGC/TSX.V) is pleased to provide results from newly
received assays from ten diamond drill holes from the company's Debarwa
copper-gold-zinc deposit located on the Asmara Project, Eritrea. The drill
results from the current program (along with results from 35 drill holes
completed in late 2009) will be used to update the resource estimate for
Debarwa which is scheduled to be completed in March 2011 as part of the
ongoing Debarwa feasibility study. Approximately fifty diamond drill holes
have been completed to date in this current phase of drilling and
approximately five more are planned before completion of this phase of work.
Highlights from these latest drilling results are as follows:
*
- DEBD-130 - 31.85 m of 5.72 % Cu & 2.13 g/t Au, including 6.00 m of
17.99% Cu
- DEBD-131 - 9.29 m of 11% Cu & 4.19 g/t Au
- DEBD-132 - 13.45 m of 16.22% Cu & 3.22 g/t Au, including 5.00 m of
17.24% Cu & 3.3m of 26.04% Cu
- DEBD-133 - 16.70 m of 14.9% Cu & 2.15 g/t Au
- DEBD-135 - 25.45 m of 11.22% Cu & 1.75 g/t Au
- DEBD-136 - 11.45 m of 4.1% Cu & 2.18 g/t Au
- DEBD-138 - 16.50 m of 3.66 % Cu & 7.15 % Zn (Primary Zone)
- DEBD-139 - 4.50 m of 2.04 % Cu & 11.8 % Zn (Primary Zone)
*
The purpose of the ongoing diamond drill program at Debarwa is to better
define and extend both laterally and at depth all zones of copper, gold and
zinc mineralization as part of the ongoing Debarwa feasibility study that
started in November 2010. The first six shallow holes DEBD-130 to DEBD-133,
DEBD-135 and DEBD-136 were designed to intersect the surface outcropping
gold-rich oxide zone and/or the copper-enriched supergene zone which lies
immediately beneath. Within the supergene zone there exists a particularly
high-grade copper zone, with grades greater than 15% copper; this zone is
known as the "Direct Shipping Ore" or DSO zone. Four holes DEBD-134 and
DEBD-137 to DEBD-139 were drilled deeper to intersect the primary zone of
copper-zinc-gold mineralization.
The results of these new assays continue to confirm the high-grade copper
grades in the supergene and DSO zones and the deeper holes have both
confirmed and extended the depth of the primary zone of copper-zinc-gold
mineralization at Debarwa.
As well as better definitions and extensions of the mineralized zones the
purpose of the current Debarwa drilling program is to capture structural
data from the oriented drill core and to gather more samples for ongoing
metallurgical test work.
A summary of the assay results from these ten drill holes are as follows:
*Drill hole #*
*From metres*
*To Metres*
*Interval*
*Metres*
*Gold g/t*
*Silver g/t*
*Copper %*
*Zinc %*
*Zone*
DEBD-130
36.30
68.15
31.85
2.13
57.59
5.72
Au Oxide/ Cu Supergene
Incl. DEBD-130
36.30
46.65
10.35
3.34
82.23
0.04
Au Oxide
And DEBD-130
46.65
68.15
21.50
1.55
45.73
8.45
Cu Supergene
*And DEBD-130*
*51.65*
*57.65*
*6.00*
*2.38*
*85.00*
*17.99*
* *
*DSO*
DEBD- 131
78.86
88.15
9.29
4.19
50.85
11.00
Cu Supergene
DEBD-132
43.70
51.70
8.00
3.86
18.84
0.06
Au Oxide
DEBD-132
51.70
65.15
13.45
3.22
86.57
16.22
Cu Supergene
*Incl. DEBD-132*
*53.70*
*58.70*
*5.00*
*2.06*
*81.60*
*17.24*
* *
*DSO*
*And DEBD-132*
*61.85*
*65.15*
*3.30*
*3.20*
*114.42*
*26.04*
* *
*DSO*
DEBD-133
33.30
46.80
13.50
1.68
35.94
0.03
Au Oxide
And DEBD-133
47.80
64.50
16.70
2.15
75.92
14.90
Cu Supergene
*Incl. DEBD-133*
*56.80*
*61.50*
*4.70*
*2.31*
*151.68*
*27.17*
* *
*DSO*
DEBD-135
36.50
61.95
25.45
1.75
40.23
11.22
Cu Supergene
*Incl. DEBD-135*
*45.80*
*56.80*
*11.00*
*2.48*
*60.64*
*18.62*
* *
*DSO*
DEBD-136
24.55
50.55
26.00
1.37
16.99
0.09
Au Oxide
And DEBD-136
50.55
62.00
11.45
2.18
46.84
4.1
Cu Supergene
DEBD-137
180.97
194.10
13.13
0.53
6.72
1.1
0.75
Primary Cu/Zn
DEBD-138
97.50
114.00
16.50
2.43
39.79
3.66
7.15
Primary Zn/Cu
DEBD-139
140.30
144.80
4.50
1.14
25.11
2.04
11.80
Primary Zn/Cu
*NOTE:* See plan map at the end of this release and on the Company's website
- www.sunridgegold.com. There were no significant assays from drill hole
DEBD-134.
*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 to mine
high-grade copper mineralization (greater than 15% copper) to generate early
cash flow and enhance economics of the deposit. The completion of this
report is expected in the third quarter of 2011.
*NOTES:*
1. A Quality Assurance/Quality Control program was part of the sampling
program on the Debarwa copper-zinc-gold deposit. This program includes chain
of custody protocols as well as systematic submittals of standards,
duplicates and blank samples into the flow of samples produced by the
sampling.
2. Samples were prepared at African Horn Testing Services (Eritrea) and
analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth,
Western Australia.
3. The results of the Debarwa drill program have been reviewed by Michael
J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person
responsible for preparation of the technical information contained in this
news release and is President and CEO of Sunridge.
*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 Greg Davis at the numbers listed below.
*SUNRIDGE GOLD CORP.*
*"Michael Hopley" *
Michael Hopley, President and Chief Executive Officer
*For further information contact:*
Greg Davis, VP Business Development
Email: greg@sunridgegold.com
Tel: 604-688-1263 (direct)
*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 release.
This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and
other similar words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or results
implied or expressed in such forward-looking statements. Such factors
include, among others: the actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as plans
to continue to be refined; possible variations in ore grade or recovery
rates; accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and fluctuations in
metal prices. There may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. Any forward-looking
statement speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims any intent
or obligation to update any forward-looking statement, whether as a result
of new information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein.*
<http://www.sunridgegold.com/i/misc/2011-02-03_NR.jpg>
*You can also view this News Release on our website at:*
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=440926
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