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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Tue Jul 26 2011 - 11:55:13 EDT
Sunridge Gold Announces New Drill Results From Gupo Gold Deposit, Asmara
Project, Eritrea
Tue Jul 26, 2011
_____
Sunridge Gold Corp. (SGC/TSX.V) announces it has received more encouraging
gold assays for the latest 25 reverse circulation drill holes from the
recent program at the Gupo Gold deposit on the Company's 100% owned Asmara
Project, Eritrea. The 52 hole 4,500 meter drilling program appears to have
successfully confirmed and possibly expanded the area of gold
mineralization. The results will now be used to upgrade the resource as part
of the ongoing prefeasibility study on the Asmara North Deposits which
include the Emba Derho, Adi Nefas, and Gupo Gold deposits. Also, based on
the success of the program, Sunridge is planning additional holes for
further for potential resource expansion and further definition of the
deposit.
Program Highlights:
* Drill hole GG-058-R intersected 23 meters averaging 2.89 g/t gold
and 16 meters averaging 2.77 g/t gold
* Drill hole GG-062-R intersected 15 meters averaging 4.56 g/t gold
* Drill hole GG-064-R intersected 11 meters averaging 2.31 g/t gold
* Drill hole GG-068-R intersected 4 meters averaging 10.56 g/t gold
including 1 meter at 41.24 g/t gold
* Drill hole GG-028-R intersected 37 meters averaging 1.51 g/t gold *
* Drill hole GG-030-R intersected 9 meters averaging 9.26 g/t gold *
* Drill hole GG-036-R intersected 47 meters averaging 2.13 g/t gold *
* Drill hole GG-039-R intersected 29 meters averaging 2.05 g/t gold *
* Drill hole GG-047-R intersected 64 meters averaging 1.25 g/t gold *
*assays previously announced in Sunridge Gold news release SGC NR2011-12
dated June 6, 2011
Gold mineralization at Gupo extends over a strike length of approximately
1.6 kilometers and is associated with stockwork quartz veins and a sericite
alteration halo controlled by a shear zone. Current resources contain
189,000 ounces of gold at an average grade of 2.99 g/t (see details of
resources at the end of this news release). The resource is at surface and
drilling has shown mineralization to extend to at least to 80 meters
vertical depth and remains open at depth. As can be seen in the attached map
the results of these 52 holes extend over only about a 600 meter strike
length in the northern part of the deposit
"We are very happy with the gold results from the drill program at Gupo",
commented Michael Hopley, President and CEO of Sunridge Gold. "The results
appear to support the previous resource estimates and we will now work on
updating the resource at Gupo. We are also seeing the potential to expand
the resource as the gold mineralization appears to be continuing to depth."
A summary of significant results are as follows:
Drill Hole
>From
To
Interval
Gold
metres
metres
metres
g/t
GG-053-R
57
58
1.00
7.31
GG-054-R
26
28
2
0.51
GG-055-R
15
18
3
0.76
GG-056-R
14
17
3
4.44
GG-057-R
93
97
4
1.80
GG-058-R
40
56
16
2.77
and
103
126
23
2.89
GG-059-R
8
14
6
1.08
and
17
25
8
1.16
and
28
35
7
1.79
GG-060-R
59
61
2
0.73
GG-061-R
22
27
5
1.11
and
51
54
3
0.61
GG-062-R
25
40
15
4.56
and
27
31
4
15.91
GG-063-R
11
13
2
0.68
GG-064-R
43
49
6
1.96
And
54
58
4
1.79
And
62
73
11
2.31
GG-065-R
0
20
20
0.96
GG-066-R
22
23
1
1.27
and
28
30
2
1.10
GG-067-R
no significant results
GG-068-R
47
51
4
10.56
Including
49
50
1
41.24
and
54
58
4
2.46
and
63
70
7
3.07
and
75
82
7
5.42
Including
79
80
1
20.01
GG-069-R
27
37
10
1.51
GG-070-R
21
23
2
0.78
and
42
46
4
0.86
GG-071-R
no significant results
GG-072-R
no significant results
GG-073-R
41
56
15
1.44
and
69
73
4
3.10
and
115
120
5
1.26
GG-074-R
19
22
3
1.12
GG-075-R
1
4
3
0.63
and
16
19
3
1.29
GG-076-R
no significant results
GG-077-R
7
11
4
2.15
And
11
15
4
Void -- no samples
And
15
18
3
1.28
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 $17 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 Don Halliday or
Greg Davis at the numbers listed below.
Notes:
1. All drill holes reported are reverse-circulation 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.
4. A description of the geology, sampling procedures, and the Company's
laboratory Quality Assurance / Quality Control procedures are as described
in each of the Company's most recent National Instrument 43-101 Technical
Reports filed and dated March 15, 2007. These reports are available on the
Company's profile at 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@sunridgegold.com> 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.
Click to Enlarge <http://www.sunridgegold.com/i/misc/2011-07-26_NR.jpg>
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