- Debarwa Copper-Zinc-Gold VMS Deposit:
- - 100% Sunridge owned
- - Feasibility study scheduled for completion in December 2011
- Northern Projects:
- - Emba Derho, Adi Nefas, and Gupo Gold
- - 100% Sunridge owned
- - Prefeasibility Study scheduled for completion in March 2012
- Exploration Area:
- - Numerous high priority VMS exploration targets
- Sunridge has drilled over 250,000 metres on the Asmara project since acquiring the project in 2003.The Asmara Project in Eritrea hosts four deposits, three of which, Emba Derho, Debarwa and AdiNefas, have combined TSX 43-101 Measured and Indicated resources totaling:
- 1.28 billion pounds. of copper,
- 2.5 billion pounds of zinc,
- 955,000 ounces of gold, and
- 31.2 million ounces of silver
- A fourth deposit, Gupo Gold, contains an additional Inferred resource of 189,000 ounces of gold.
- Major exploration upside -- geologically rich area. Several high priority drill ready VMS targets.
Location and History
The Asmara Project approximately 600 square kilometres in central Eritrea, located immediately to the north, south and west of the capital city of Asmara. The infrastructure is excellent with roads, power, water and airports servicing the project area.
Sunridge Gold owns 100% of the project. The Eritrean government has a 10% free carried interest.
Development Projects
Emba Derho (VMS Deposit)
Approx 62.5 m/tonnes containing 990 m lbs Cu, 1.9 billion lbs Zn, 580,000 ozs Au & 20.8 m/ozs Ag. Positive PEA completed June 4, 2009
Debarwa (VMS Deposit)
3.3 m/tonnes including copper zone with 1.4 m/tonnes 5.15% Cu, 1.40 g/t Au, 33.00 g/t Ag. Open for expansion in several directions.
Adi Nefas (VMS Deposit)
2.7 m/tonnes grading 8.38% Zn, 2.85 g/t Au, 1.39 % Cu,
& 99.30 g/t Ag. Potential to add to Emba Derho future mine plan
Gupo (Gold Deposit)
1,965,000 tonnes grading 2.99 g/t Au totaling 189,000 ounces gold.
Exploration Targets
Recent exploration activities have been focused on advancing several new high priority exploration targets to the drill ready stage. Exploration work has consisted of geophysical and geochemical surveys in conjunction with detailed geological mapping and sampling. These techniques, particularly the use of ground gravity surveys, have historically shown success in the Company's search for volcanogenic massive sulphide (VMS) deposits on the Asmara Project and led to the discovery of the Emba Derho deposit in early 2007. Eritrea is a country with immense geological potential with several high-grade Volcanogenic massive sulphide (VMS) discoveries being made in the past five years including several within Sunridge Gold's Asmara Project.
The country has been run by a transitional government since independence on May 24, 1993. There are approximately four million people in the country whom depend largely on subsistence agricultural. The mining code is based on the mining code of the Northern Territories of Australia with a royalty of 5% on precious metal 3% on base metals and tax rate of 35%.
