From: Biniam Tekle (biniamt@dehai.org)
Date: Wed Nov 04 2009 - 09:11:02 EST
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=370302
Wed Nov 4, 2009
Sunridge Gold Provides Drilling Update On The Asmara Project
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Sunridge Gold Corp. (SGC/TSX.V) provides an update on the ongoing drilling
program being conducted at the Asmara Project, Eritrea. Diamond drilling
commenced on September 22, 2009 at the Debarwa copper-gold-zinc volcanogenic
massive sulphide (VMS) project, one of the four defined deposits within the
Asmara Project. Ten diamond drill holes have been completed since the
program began and the first assay results are expected near the end of
November. Drilling continues at Debarwa.
The objective of the drill program at Debarwa is to expand the existing
resources by testing nearby geophysical anomalies as well as attempting to
extend the high-grade copper-gold supergene zone to the south and the depth
of the copper-zinc primary zone. In the existing resource at Debarwa the
high-grade copper supergene zone has an average grade of 5.36% copper using
a 1% copper cut-off, containing 158 million pounds of copper in the
Indicated category. The primary zone at Debarwa has not had significant
delineation drilling in previous programs and is open for expansion at depth
and along strike. The primary zone has an average grade of 2.53% copper with
3.23 % zinc in the Indicated category using a 1% copper cut-off and contains
an additional 39 million pounds of copper and 49.8 million pounds of zinc.
(see the resource statement below)
Michael J. Hopley is the Qualified Person for Sunridge and is the person
responsible for preparation of the technical information contained in this
news release. Mr. Hopley is President and Chief Executive Officer of
Sunridge.
ABOUT SUNRIDGE:
Sunridge Gold Corp. 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. On October 2,
2009, Sunridge announced the signing of a definitive exploration and funding
agreement with Antofagasta Minerals S.A. to form a strategic partnership
whereby Antofagasta will fund US$10,000,000 of exploration work over a five
year period on the "Exploration Areas" of the Asmara project to earn up to a
75% interest in these areas and also invested US$5,000,000 in a non-brokered
private placement.
Sunridge has approximately 76 million shares outstanding and $9.0 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.
SUNRIDGE GOLD CORP.
"Michael Hopley"
For further information contact:
Michael Hopley, President and Chief Executive Officer
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)
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