Sunridge Gold Announces Assay Results From Gupo Gold Deposit, Asmara
Project, Eritrea
Thu Jan 26, 2012
<
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=503803>
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=503803
_____
Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX) reports assay results from the
final 63 drill holes of the recently completed drilling program at the Gupo
Gold Deposit, part of the Asmara Project, Eritrea. This drill program
consisted of 99 drill holes totaling 8,100 metres. The program was designed
to expand and upgrade the current Inferred resource at Gupo to the Measured
and Indicated categories and to acquire geotechnical data necessary for the
ongoing prefeasibility study on the Asmara North deposits which include the
Emba Derho, Adi Nefas, and Gupo Gold deposits.
Drill Intersection Highlights:
* Drill hole GG-116-R: 28 metres averaging 3.05 g/t gold
* Drill hole GG-125-R: 13 metres averaging 3.08 g/t gold
* Drill hole GG-128-R: 19 metres averaging 2.77 g/t gold
* Drill hole GG-142-R: 12 metres averaging 5.72 g/t gold and 7 meters
averaging 6.52 g/t
* Drill hole GG-156-R: 22 metres averaging 2.31 g/t gold
* Drill hole GG-160-R: 19 metres averaging 5.30 g/t gold
* Drill hole GG-168-R: 13 metres averaging 10.09 g/t gold
Gold mineralization at Gupo extends intermittently over a strike length of
approximately 1.6 kilometres and is associated with stockwork quartz veins
and a sericite alteration halo controlled by a shear zone 10 to 30 metres in
width. The resource outcrops at surface and drilling has shown
mineralization to extend at least to 150 metres vertically from surface and
in many locations is open to depth.
The 2 maps attached to this release show that these recent drilling results
are mostly from reverse-circulation drill holes from the southern part of
the Gupo Main area and the Gupo South area.
As can be seen on the map of the Gupo Main area this southern part of the
deposit bifurcates into two separate sub-parallel limbs each 30 to 50 metres
wide. In order to better define the mineralization most of the
reverse-circulation drill holes are close spaced (10 to 20 metres) along
section lines 20 metres apart. Also, some holes are 'twin'holes (1 to 2
metres from original hole) that have been drilled to validate historic
drilling at Gupo. In addition to the reverse-circulation holes there are 8
diamond drill holes (prefix GG-GT) drilled for geotechnical data necessary
for the design of the proposed open-pit at Gupo; selected intervals were
assayed and results are included in this release.
Gupo South gold mineralization occurs some 500 metres south of the southern
limit the Gupo Main mineralization due to a 500 metre wide hiatus in gold
mineralization. Gold mineralization has been defined by drilling in a zone
that varies from 30 to 120 metres wide over a strike length of approximately
400 metres. The reverse-circulation drill holes recently completed are
generally spaced at 40 to 50 metres apart both along and between sections
and have defined mineralization down to about 80 metres.
In general these latest results from the Gupo Main and Gupo South areas
confirm the location and grade of gold mineralization defined by previous
drill holes down to depths of approximately 80 metres (Gupo South) to 150
meters (Gupo Main). In addition, new zones of mineralization have been found
laterally (east and west) as well as in depth and in some cases these zones
are open.
Michael Hopley, Sunridge President and CEO says "We are very pleased with
the results of this latest drilling campaign at Gupo and are confident that
it will achieve the goals of both upgrading and increasing the overall size
of the Gupo Gold deposit. The next stage will be the completion of a new
resource at Gupo by Snowden and this will be an important step towards
completion of the Prefeasibility Study on the Asmara North in late March
this year".
Asmara North Prefeasibility Study
The Asmara North Prefeasibility Study is being conducted by Snowden Mining
Industry Consultants Inc. and GBM Minerals Engineering Consultants Ltd. and
is scheduled for completion in late March, 2012. The study is examining all
Asmara North deposits collectively including, the large Emba Derho
copper-zinc-gold VMS Deposit, the Adi Nefas zinc-gold-copper VMS Deposit,
and the Gupo Gold Deposit.
A summary of significant results are as follows:
Drill Hole
>From
Metres
To Metres
Interval Metres
Gold g/t
GG-102-R
42.00
59.00
17.00
1.37
And
77.00
87.00
10.00
1.39
GG-112-R
6.00
14.00
8.00
2.89
GG-116-R
68.00
96.00
28.00
3.05
Including
80.00
89.00
9.00
5.31
GG-117-R
3.00
10.00
7.00
0.99
And
32.00
38.00
6.00
2.09
And
53.00
66.00
13.00
1.02
GG-119-R
21.00
22.00
1.00
4.50
GG-120-R
9.00
12.00
3.00
4.85
Including
11.00
12.00
1.00
14.06
GG-121-R
20.00
21.00
1.00
1.89
GG-123-R
4.00
5.00
1.00
1.48
GG-124-R
15.00
18.00
3.00
1.21
GG-125-R
36.00
49.00
13.00
3.08
GG-128-R
27.00
46.00
19.00
2.77
GG-129-R
51.00
53.00
2.00
1.37
GG-132-R
12.00
19.00
7.00
1.06
And
40.00
41.00
1.00
7.35
And
74.00
77.00
3.00
4.88
GG-135-R
53.00
54.00
1.00
2.56
GG-136-R
46.00
54.00
8.00
2.92
Including
51.00
53.00
2.00
10.65
GG-137-R
46.00
47.00
1.00
1.91
GG-141-R
11.00
21.00
10.00
1.26
GG-142-R
60.00
72.00
12.00
5.72
and
96.00
103.00
7.00
6.52
GG-143-R
81.00
85.00
4.00
0.83
GG-144-R
55.00
59.00
4.00
0.72
GG-145-R
21.00
25.00
4.00
0.81
GG-146-R
38.00
40.00
2.00
1.08
GG-147-R
71.00
80.00
9.00
1.95
GG-148-R
22.00
27.00
5.00
2.51
GG-150-R
13.00
22.00
9.00
1.06
GG-151-R
26.00
36.00
10.00
1.00
GG-152-R
1.00
9.00
8.00
1.38
And
77.00
81.00
4.00
10.89
Including
78.00
79.00
1.00
35.63
GG-153-R
48.00
58.00
10.00
3.97
GG-155-R
25.00
33.00
8.00
1.48
GG-156-R
17.00
19.00
2.00
5.16
And
48.00
70.00
22.00
2.31
GG-157-R
72.00
74.00
2.00
1.09
GG-158-R
1.00
11.00
10.00
2.70
And
29.00
75.00
46.00
1.00
And
59.00
78.00
19.00
1.20
GG-159-R
40.00
46.00
6.00
1.08
GG-160-R
4.00
23.00
19.00
5.30
Including
12.00
23.00
11.00
8.87
And incl
16.00
21.00
5.00
17.49
GG-162-R
48.00
50.00
2.00
1.37
GG-163-R
51.00
61.00
10.00
0.79
GG-164-R
29.00
34.00
5.00
0.76
GG-168-R
1.00
14.00
13.00
10.09
Including
6.00
7.00
1.00
107.27
And
44.00
53.00
9.00
1.65
Note: There were no significant assays in drill hole GG-115-R, 118, 122,126,
127, 130, 131, 133, 134, 138, 139, 140, 149, 154, 161,166, and 167. Assays
pending for GG-165-R.
GEOTECHNICAL HOLES
Drill Hole
>From
Metres
To Metres
Interval Metres
Gold g/t
GG-GT-01
25.00
30.00
5.00
3.35
And
40.00
48.00
8.00
1.23
GG-GT-02
38.00
39.00
1.00
1.04
GG-GT-03
12.00
36.00
24.00
1.40
and
84.00
94.00
10.00
1.82
GG-GT-04
34.00
35.00
1.00
4.54
GG-GT-05
47.00
63.00
16.00
5.71
Including
49.00
59.00
10.00
8.91
And
74.00
85.00
11.00
2.12
GG-GT-06
63.00
65.00
2.00
1.79
GG-GT-07
7.00
13.00
6.00
2.76
And
30.00
46.00
16.00
1.58
GG-GT-08
38.00
39.00
1.00
15.46
And
53.00
67.00
14.00
0.86
Gupo Gold Resources Inferred resource estimates for Gupo (then referred to
as Adi Nefas Doop) from report titled "Independent Consulting Geologists
Technical Report - Asmara Project" prepared by Blackburn, G. and Chisholm,
R., dated April 2004 (which may be viewed under Sunridge's profile on SEDAR
at <
http://www.sedar.com> www.sedar.com) are summarized as follows:
Gupo Gold - Inferred Resources
Tonnes
Average Gold Grade g/t
Ounces of Gold
1,965,000
2.99
189,000
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 $9 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
<
http://www.sunridgegold.com> www.sunridgegold.com or call Greg Davis at the
number listed below.
Notes:
1. All drill holes prefixed GG are reverse-circulation drill holes and all
geotechnical holes prefixed GG-GT are diamond drill holes
2. Drill intercept lengths only are reported in the tabulations; it is
estimated that true width will be approximately 80% of the reported drill
intercept length.
3. A Quality Assurance/Quality Control program is part of the drilling
program on the Asmara Project. This program includes chain of custody
protocol as well as systematic submittals of standards, duplicates and blank
samples into the flow of samples produced by the drilling. The program is
described in the Company's most recent Debarwa Deposit, Technical Report
dated August 18, 2011, and filed October 3, 2011, on the Company's profile
on <
http://www.sedar.com> www.sedar.com.
4. A description of the geology of the Gupo deposit is contained in the
April 2004 Independent Consulting Geologists Technical Report - Asmara
Project filed on the Company's profile at <
http://www.sedar.com>
www.sedar.com.
5. Samples are prepared at African Horn Testing Services (Eritrea) and
analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth,
Western Australia.
6. The Qualified Person responsible for the release of this exploration
information is Michael Hopley, President and Chief Executive Officer of
Sunridge Gold Corp.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: <mailto:greg_at_sunridgegold.com> greg_at_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/pdf/thumbs/NR_1_26_2012_Figure1.jpg>
http://www.sunridgegold.com/i/pdf/thumbs/NR_1_26_2012_Figure1_sm.jpg
<
http://www.sunridgegold.com/i/pdf/thumbs/NR_1_26_2012_Figure2.jpg>
http://www.sunridgegold.com/i/pdf/thumbs/NR_1_26_2012_Figure2_sm.jpg
----[Mailing List for Eritrea Related News ]----
Received on Thu Jan 26 2012 - 10:38:08 EST
