Sunridge Gold Reports Drilling Resumes at Gupo Gold Deposit, Asmara Project, Eritrea
09 Settembre 2011 - 2:00PM
Marketwired
Sunridge Gold Corp. (TSX VENTURE: SGC)(OTCQX: SGCNF) announces that
it has commenced an additional 6,000 metres of drilling at the Gupo
Gold deposit located on the Company's 100% owned Asmara Project,
Eritrea. The results of this program will be an important step
towards completing the ongoing prefeasibility study on the Asmara
North Deposits which include Gupo, Emba Derho and the Adi Nefas
deposits.
This next phase of drilling will total about 6,000 metres and
will include approximately 5,000 metres of reverse circulation
drilling of 60 closely spaced drill holes and approximately 1,000
metres of diamond drilling of 8 drill holes. The purpose of the
diamond drill holes is to obtain; better geological correlation
between core to reverse circulation samples, information for
geotechnical and pit slope evaluation, samples for leach tests and
also to investigate extensions to depth where the mineralization
appears to be strengthening. The program is expected to be
completed within about 30 days.
Gold mineralization at Gupo extends over a strike length of
approximately 1.6 kilometres and is associated with stockwork
quartz veins and a sericite alteration halo controlled by a shear
zone 10 to 20 metres in width. The resource is at surface and
drilling has shown mineralization to extend at least to 80 metres
vertical depth and remains open at depth.
The Inferred resource estimates for Gupo (then referred to as
Adi Nefas Doop) are from a 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 www.sedar.com) is
summarized as follows:
Gupo Gold - Inferred Resources
Tonnes Average Gold Grade g/t Ounces of Gold
1,965,000 2.99 189,000
The Qualified Person responsible for the release of this
exploration information is Michael Hopley, President and Chief
Executive Officer of Sunridge Gold Corp.
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 $15 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 Greg Davis at the numbers
listed below.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
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, labor 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.
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.
Contacts: Sunridge Gold Corp. Greg Davis VP Business Development
604-688-1263 greg@sunridgegold.com www.sunridgegold.com
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