http://www.proactiveinvestors.com/companies/news/24535/sunridge-golds-new-estimate-for-emba-derho-deposit-exceeds-expectations-24535.html
Sunridge Gold's new estimate for Emba Derho deposit "exceeds expectations"Mon
11:11 am by Joyanta
Acharjee<
http://www.proactiveinvestors.com/pages/the_team#Joyanta
Acharjee>
Sunridge Gold (CVE:SGC)(OTCQX:SGCNF) Monday received a new independent
resource estimate, showing a significant increase in size for the Emba
Derho volcanogenic massive sulphide (VMS) deposit at its Asmara project in
Eritrea.
The new resource estimate was completed by Snowden Mining Industry
Consultants as part of the company's ongoing prefeasibility study on the
Asmara North deposits, which include Emba Derho, the Adi Nefas
zinc-gold-copper VMS deposit and the Gupo gold deposit.
The prefeasibility study is being conducted by Snowden and GBM Minerals
Engineering Consultants, and is scheduled for completion in April 2012.
Sunridge said that measured and indicated resources at Emba Derho now stand
at 70.0 million tonnes, with an additional 15 million tonnes in the
inferred category.
The deposits's copper-rich zone has 49.8 million tonnes at an average grade
of 0.83 percent copper and 0.93 percent zinc, and the zinc-rich zone has
16.8 million tonnes at an average grade of 2.80 percent zinc and 0.31 grams
per tonne (g/t) gold, according to the research estimate.
Total contained metals in the measured and indicated categories are
estimated at 1.00 billion pounds of copper, 2.1 billion pounds of zinc,
506,000 ounces of gold and 18.6 million ounces of silver.
In 2008, the company announced Emba Derho deposit's total indicated
resources in the primary copper and zinc zones were estimated to be 58.97
million tonnes containing 990 million pounds of copper, 1,900 million
pounds of zinc, 485 thousand ounces of gold and 19.5 million ounces of
silver.
Sunridge's president and CEO, Michael Hopley, said: "This new resource
estimate exceeds expectations; Emba Derho now contains 1 billion pounds of
copper and over 2 billion pounds of zinc along with significant amounts of
gold and silver in the Measured and Indicated resource categories.
"Because of the exceptionally clean metallurgy and amenable shape of the
deposit for open-pit mining, we expect that most of these resources will be
converted to reserves with the completion of the pre-feasibility study in
April."
Since the last resource estimate at Emba Derho in 2008, 150 drill holes for
a total of over 30,000 metres of drilling have been completed by Sunridge,
with the goal of expanding the size of the deposit as well as better
defining areas to upgrade mineral resources to the measured and indicated
categories for the pre-feasibility study. The study will only consider
material in these categories.
The drilling was also designed to collect samples for ongoing metallurgical
testwork as well as the gathering of geotechnical data.
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. It also holds exploration
properties in Madagascar.
Monday morning, shares were up 1.5 percent to $0.68.
----[Mailing List for Eritrea Related News ]----
Received on Mon Feb 06 2012 - 22:52:23 EST
