|Mon Jun 25, 2012|
Sunridge Gold Drills 58 Metres of 1.44% Copper at Adi Rassi Copper-Gold Project, Asmara Project, Eritrea
|Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX) ("Sunridge") is pleased to report that assays results have been received for the first three drill holes from the Company's 2012 exploration diamond drill program at the Adi Rassi copper--gold prospect, part of the Asmara Project in Eritrea. These results, combined with previous drill hole results, are very encouraging as they support management's belief that Adi Rassi is a new large copper-gold discovery that has the potential to become Sunridge's fifth deposit on the Asmara Project. |
Current Drill Highlights include:
"Sunridge has proven again the remarkable exploration potential of the Asmara Project" states Michael Hopley, President and CEO of Sunridge. "With four deposits now in the final feasibility stage we have added the possibility of a fifth deposit. Given the proximity of Adi Rassi to the other deposits this could add significant value to the economics of the overall project. Although much of Sunridge's recent efforts have been on advancing the four established deposits towards production with the ongoing engineering studies, it is important to remember that numerous high priority new exploration targets remain on the property".
Previous work by Sunridge at Adi Rassi has consisted of re-sampling and assaying historic drill core, detailed geological mapping and sampling, geophysics and the completion of five diamond drill holes in 2010. This work established the presence of a large zone of copper-gold mineralization approximately 60 to 80 metres wide over a strike length of at least 500 metres. In the 2010 drilling campaign, drill hole AR-002-D intersected 84 metres showing an average grade of 1.32 g/t gold and 0.84% copper and drill hole AR-004-D intersected 78 metres showing an average grade of 1.0% copper and 0.22 g/t gold.
The objective of this recently completed thirteen hole drilling program is to better define and possibly extend the depth and strike extent of the mineralized zone at Adi Rassi. The results of these first three drill holes certainly verify the strong copper and gold mineralization over long intervals in the northern part of the zone.
Further drilling results will be issued when received over the next few weeks.
Copper and gold mineralization at Adi Rassi is associated with quartz veins and breccia zones along a major shear zone that trends northeast for over 3 kilometres and dips steeply to the west. This mineralization is considered to be remobilized from a distal source, possibly an as yet unidentified buried volcanogenic massive sulphide (VMS) mineralization and is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. (see maps and cross-section at the end of this news release).
The Adi Rassi prospect is located less than 10 kilometres from Sunridge's Debarwa copper-zinc-gold VMS deposit where a positive feasibility study was completed and announced May 14, 2012. This proximity could have positive implications for any mining opportunities in the southern part of the Asmara Project.
Summary of new drill results is as follows:
** Includes a single assay of 24.89 g/t gold
Summary of the results from Sunridge drilling in 2010:
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. 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 number listed below.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Tel: 604-688-1263 (direct)
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.
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, labour 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.