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posted on
Mar 17, 2011 09:20AM
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - Sunridge Gold Corp. (TSX VENTURE:SGC) has received assay results from twenty-one diamond drill holes from the Debarwa copper-zinc-gold deposit located on the Asmara Project, Eritrea. Most of these drill holes have successfully extended the depth of the primary mineralization at Debarwa from 150 to 200 meters from surface. These assays (along with results from 35 drill holes completed in late 2009) will be used to update the resource estimate for Debarwa which is scheduled to be completed in April 2011. This new resource will be used as part of the ongoing Debarwa feasibility study. A total of 59 diamond drill holes have been completed to date in the current phase of drilling. Assays for 24 diamond drill holes are still pending.
Michael Hopley, Sunridge's President and CEO states, "Much of the focus at Debarwa has been on the shallow parts of the deposit, particularly the Gold Oxide and Copper Supergene Zones. We are excited that many of these new deeper drill holes are demonstrating excellent grades of copper, zinc and gold at depth in the primary zone of mineralization."
Highlights from these latest drilling results are as follows:
-- DEB-140 intersected 14.00 meters of 2.78% copper, 7.33% zinc & 1.35 g/t
gold
-- DEB-143 intersected 13.60 meters of 4.94% copper
-- DEB-144 intersected 8.20 meters of 1.87% copper, 10.15% zinc & 1.16 g/t
gold
-- DEB-146 intersected 7.60 meters of 1.32% copper, 10.51% zinc & 4.87 g/t
gold
-- DEB-149 intersected 6.00 meters of 4.71% copper, 0.95 g/t gold
-- DEB-157 intersected 8.10 meters of 1.15% copper, 3.2% zinc & 4.07 g/t
gold
A summary of the assay results from these twenty-one drill holes are as
follows:
---------------------------------------- -----------------------------------
Drill From To Interval Gold Silver Copper Zinc
hole # Metres Metres Metres g/t g/t % % Zone
---------------------------------------- -----------------------------------
DEBD-140 48.00 62.50 14.50 0.81 8.93 0.06 0.63 Gold Oxide
and 82.50 96.50 14.00 1.35 23.18 2.78 7.33 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-142 109.95 113.95 4.00 0.01 2.50 0.02 1.22 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-143 79.60 93.20 13.60 0.77 23.62 4.94 0.22 Copper Supergene
including
DEBD-143 86.70 91.70 5.00 1.89 59.20 11.52 0.56 Copper Supergene
---------------------------------------- -----------------------------------
DEBD-144 127.10 135.30 8.20 1.16 25.46 1.87 10.15 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-145 97.84 92.37 4.53 1.29 26.81 1.00 8.85 Zinc Primary
and 114.25 121.04 6.79 2.83 39.93 1.06 5.64 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-146 138.60 146.20 7.60 4.87 33.23 1.32 10.51 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-147 67.65 72.30 4.65 0.70 7.37 1.58 0.23 Copper Supergene
---------------------------------------- -----------------------------------
DEBD-148 106.70 118.00 11.30 3.00 17.63 0.66 3.82 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-149 41.60 47.60 6.00 0.95 73.00 4.71 0.18 Copper Supergene
---------------------------------------- -----------------------------------
DEBD-150 71.75 83.73 11.98 1.63 49.92 2.29 7.18 Zinc Primary
---------------------------------------- -----------------------------------
DEBD-151 159.75 161.75 2.00 5.08 104.50 2.21 5.28 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-153 106.00 112.80 6.80 4.46 63.52 1.19 4.01 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-154 133.17 137.16 3.99 1.23 23.28 1.08 5.15 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-155 25.40 31.40 6.00 0.73 13.38 0.05 0.01 Gold Oxide
---------------------------------------- -----------------------------------
DEBD-156 54.80 58.60 3.80 0.69 29.38 1.66 0.02 Copper Supergene
---------------------------------------- -----------------------------------
DEBD-157 154.25 162.35 8.10 4.07 44.14 1.15 3.20 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-158 80.25 86.80 6.55 1.24 10.49 0.23 0.26 Gold Oxide
and 120.93 122.60 1.67 1.29 261.29 7.76 4.32 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-159 113.55 125.00 11.45 0.86 8.20 0.43 0.64 Cu/Zn Primary
---------------------------------------- -----------------------------------
DEBD-160 73.30 82.40 9.10 1.37 18.91 0.42 2.93 Zinc Primary
---------------------------------------- -----------------------------------
NOTE: A plan map has been posted on the Company's website - http://www.sunridgegold.com. There were no significant assays from drill hole DEBD - 141 and 152.
The Debarwa Feasibility Study
The Debarwa feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct shipping option to mine high-grade copper mineralization (greater than 15% copper) to generate early cash flow and enhance economics of the deposit. The completion of this report is expected in the third quarter of 2011.
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 $24 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 or call Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the sampling
program on the Debarwa copper-zinc-gold deposit. 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 Debarwa drill 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 CEO of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer