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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Oct 06 2010 - 17:15:50 EDT
Sunridge Gold Restarts Exploration Drilling and Mobilizes a Second Drill to
the Asmara Project, Eritrea
Wed Oct 6, 2010
_____
Sunridge Gold Corp., (SGC/TSX.V) announces that it has commenced a new
exploration drilling program on the exploration areas of the Asmara Project,
Eritrea. This program consists of at least 3,000 metres of diamond drilling
and is targeting areas that have the potential for large new discoveries. In
addition, Sunridge has mobilized a reverse circulation drill rig to Eritrea
in order to commence a 4,000 metre drill program at the Gupo Gold deposit
and a 1,000 metre program at the new Medrizien gold target within the next
four to five weeks.
Sunridge Gold Joint Venture Drilling Program
The new joint venture drilling program is operated by Sunridge and funded by
Antofagasta Minerals and is focused on drilling new targets with the
potential for significant new discoveries. Drilling will target the
following areas:
* Adi Watot. This is a large area measuring approximately 1,200 metres
long and 400 to 500 metres wide where Sunridge and Antofagasta geologists
have identified swarms of quartz veinlets in an area that has elevated
copper geochemical values.
* Adi Kubulo. The geology of this area is similar to Adi Watot
although somewhat smaller measuring some 400 metres long and approximately
200 metres wide.
* Adi Watot -- Adi Kubulo Corridor. This target is a corridor between
the Adi Watot and Adi Kubulo targets that measures some 3,500 metres long by
approximately 400 to 500 metres wide and in which mapping has shown
continuity of quartz veinlets in an area with elevated copper values.
* Adi Rassi. Drilling will test a possible northern extension of Adi
Rassi that is associated with structurally controlled malachite showings.
Assay results, from the previous drilling program showed long intervals of
copper and gold mineralization e.g. drill hole AR-002D which had 84 metres
with an average grade of 1.32 g/t gold and 0.84% copper; the results
indicate that a potentially large new copper and gold zone has been
discovered at Adi Rassi. Geological mapping and sampling shows that
alteration associated with copper mineralization is visible over a zone that
measures about 80 metres wide along a strike length of approximately 500
metres. Copper and gold mineralization at Adi Rassi is associated with
quartz veins and breccia zones along a major shear zone that trends
northeast for over 3 kilometres and dips steeply to the west.
* Adi Lamza. Surface and previous drill hole information from this
prospect has identified a large area of phyllitic alteration which will be
drill tested.
* Adi Tsenaf. A large area of quartz-vein stockwork measuring over 300
metres long will be drill tested.
First results from this new joint venture drilling program are expected to
be received in November and will be announced on receipt.
Sunridge Gold drill program
The recently mobilized reverse-circulation drill rig is expected to commence
drilling at Sunridge's 100% owned Gupo Gold and Medrizien Gold areas within
the next 4 to 5 weeks and will consist of 4,000 metres at Gupo and 1,000
metres at Medrizien.
* Gupo Gold Project. The objective of the program is to upgrade the
existing gold resource at Gupo, currently 189,000 ounces contained in
1,965,000 tonnes at an average grade of 2.99 g/t gold, from an Inferred to
an Indicated category and to possibly increase the size of the resource. The
gold resources at Gupo are considered to be a potential source of open pit
feed for any future mining operations at the northern projects area of the
Asmara Project (Emba Derho, Adi Nefas and Gupo).
* Medrizien Gold Prospect. The objective of the Medrizien drill
program is to make a new gold discovery on the Asmara Project. A gold
discovery and development of a resource could provide future feed to any
mining operations in the northern area of the Asmara Project. A total of
fifty-seven rock samples were taken from the surface showing of mineralized
quartz veins and altered halo of volcanic rocks. The results showed 10
samples with assays over 1 g/t gold with the highest assay being 74.7 g/t
gold. In addition, eight rock samples taken from the old underground
workings range from 0.14 g/t up to a value of 319 g/t gold. The gold
mineralization in the Medrizien Gold prospect occurs in a stockwork of
quartz veins associated with pyrite and chalcopyrite within a surrounding
halo of sheared volcanic rocks with sericite and pyrite. This zone varies in
width from a few metres up to 25 metres over a 3.5 kilometre strike length.
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 has approximately 76 million shares outstanding and
approximately $4.5 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.
NOTES:
1. A Quality Assurance/Quality Control program was part of the sampling
program on the Adi Rassi copper-gold and Medrizien gold prospect. 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 Adi Rassi copper-gold prospect drilling and the
Medrizien gold sampling 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 Chief Executive Officer of Sunridge.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: donh@sunridgegold.com
Tel: 604-899-1505 (direct)
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 press release contains forward-looking statements about the Company and
its business. Forward looking statements are statements that are not
historical facts and include resource estimates. The forward-looking
statements in this press release are subject to various risks, uncertainties
and other factors that could cause the Company's actual results or
achievements to differ materially from those expressed in or implied by
forward looking statements. These risks, uncertainties and other factors
include, without limitation risks related to fluctuations in gold prices;
uncertainties related to raising sufficient financing to fund the planned
work in a timely manner and on acceptable terms; changes in planned work
resulting from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and realize
the perceived potential of the Company's properties; uncertainties involved
in the interpretation of drilling results and other tests and the estimation
of gold resources; the possibility that required permits may not be obtained
on a timely manner or at all; the possibility that capital and operating
costs may be higher than currently estimated and may preclude commercial
development or render operations uneconomic; the possibility that the
estimated recovery rates may not be achieved; risk of accidents, equipment
breakdowns and labor disputes or other unanticipated difficulties or
interruptions; the possibility of cost overruns or unanticipated expenses in
the work program; and other factors identified in the Company's filings with
Canadian securities regulatory authorities. Forward-looking statements are
based on the beliefs, opinions and expectations of the Company's management
at the time they are made, and other than as required by applicable
securities laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or expectations, or
other circumstances, should change.
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