From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Dec 02 2009 - 15:59:07 EST
Sunridge Drills 15.67 Metres of 10.21% Copper and 2.01 g/t Gold at the
Debarwa Deposit, Asmara Project
Wednesday, December 02, 2009
Sunridge Gold Drills 15.67 Metres of 10.21% Copper and 2.01 g/t Gold at the
Debarwa Deposit, Asmara Project, Eritrea
VANCOUVER, BRITISH COLUMBIA, Dec 2, 2009 (Marketwire via COMTEX) --Sunridge
Gold Corp. (TSX VENTURE:SGC) is pleased to announce assay results for the
first four diamond drill holes from the 2009 drill program at the 100% owned
Debarwa high-grade copper-gold-zinc volcanogenic massive sulphide (VMS)
deposit in Eritrea. To date, thirty-five holes have been completed with the
objective of expanding the supergene and primary zones. Further assays will
be released as available.
DRILL HIGHLIGHTS:
DEBD-092: 36.75 metres grading 4.82% copper and 1.12 g/t gold, including
15.67 metres grading 10.21% copper and 2.01 g/t gold
DEBD-093: 24.00 metres grading 1.13% copper
DEBD-094: 26.15 metres grading 3.77% copper including 14.15 metres grading
6.26% copper
Holes DEBD-092 and 095 were drilled into the main copper supergene zone at
Debarwa to further define this zone and to get fresh samples for further
metallurgical testing. Results of DEBD-092 are very encouraging because the
high grade copper supergene intercept in this hole is significantly wider
than predicted. In addition, drill hole DEBD-095 extended the high grade
supergene copper zone about 20 metres further down-dip.
Drill holes DEBD-093 and DEBD-094 were drilled to define and extend the
high-grade copper mineralization down-dip in the Debarwa South and
successfully intercepted the high-grade zone. The Debarwa south zone is
located approximately 400 metres south of the main Debarwa zone. DEBD-092
and 094 both indicate potential to increase
<http://www.foxbusiness.com/story/markets/industries/industrials/sunridge-go
ld-drills--metres--copper--gt-gold-debarwa-deposit-asmara-project/>
resources and grades at the Debarwa VMS deposit (see attached map:
http://media3.marketwire.com/docs/sgc121.pdf).
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From To Interval Gold Silver Copper
Hole ID metres metres metres g/t g/t %
--------------------------------------------------------
DEBD-092 47.95 84.70 36.75 1.12 341.0 4.82
Including 67.53 83.20 15.67 2.01 72.52 10.21
--------------------------------------------------------
DEBD-093 53.50 77.50 24.00 0.34 6.00 1.13
--------------------------------------------------------
DEBD-094 72.35 98.50 26.15 0.58 8.05 3.77
--------------------------------------------------------
Including 75.35 89.50 14.15 0.89 13.09 6.26
--------------------------------------------------------
DEBD-095 72.88 80.50 7.62 0.78 12.97 4.62
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Note: True thickness is estimated at approximately 90% of
the drill intervals reported in the table.
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 to extend
the copper-zinc primary zone to depth. In addition, fresh samples for
metallurgical testwork were recovered.
In the existing resource at Debarwa the copper supergene zone has an average
grade of 5.36% copper using a 1% copper cut-off, and is estimated to contain
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 (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 $8.3 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, President and Chief Executive Officer
This press release contains forward-looking statements about the Company and
its
<http://www.foxbusiness.com/story/markets/industries/industrials/sunridge-go
ld-drills--metres--copper--gt-gold-debarwa-deposit-asmara-project/>
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.
See the Technical Report titled Debarwa Project, Eritrea, Mineral Resource
Estimate prepared by MSA Geoservices (Pty) Ltd. filed on SEDAR on March 4,
2008.
The January 21, 2008 MSA resource estimates for Debarwa are summarized as
follows:
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Debarwa - Indicated Resources
-------------------------------------------------------------------
-------------------------------------------------------------------
Zone Cut Off K-tonnes Au g/t Ag g/t Cu% Zn%
-------------------------------------------------------------------
Oxide+Transition 0.5 g/t Au 2,442 1.71 13.79 0.12 0.09
-------------------------------------------------------------------
Supergene 1% Cu 1,336 1.54 33.87 5.36 0.08
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Primary 1% Cu 699 0.87 22.31 2.53 3.23
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Totals 4,478
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-------------------------------------------------------------------
Debarwa - Inferred Resources
-------------------------------------------------------------------
-------------------------------------------------------------------
Zone Cut Off K-tonnes Au g/t Ag g/t Cu% Zn%
-------------------------------------------------------------------
Oxide+Transition 0.5 g/t Au 113 0.97 8.55 0.08 0.04
-------------------------------------------------------------------
Supergene 1% Cu 95 0.52 12.13 1.69 0.31
-------------------------------------------------------------------
Primary 1% Cu 356 0.98 22.10 1.91 2.85
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Totals 564
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