From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Wed Apr 01 2009 - 15:18:48 EST
Sunridge Advances Work on Gupo Gold Deposit & Medrizien Prospect Yields
Grab Samples Up to 319 g/t Gold
Posted : Wed, 01 Apr 2009 13:43:36 GMT
Author : Sunridge Gold Corp.
Category : Press Release
VANCOUVER, BRITISH COLUMBIA -- 04/01/09 -- Sunridge Gold Corp. (TSX
VENTURE: SGC) is pleased to provide updates on the continuing work on
two of the Company's gold projects, the Gupo gold deposit and the
Medrizien gold prospect, located on the Asmara project, Eritrea. To
date, Sunridge has primarily focused on its three base metals projects,
Emba Derho, Adi Nefas and Debarwa. With a scoping study nearing
completion on the large Emba Derho copper-zinc-gold deposit, management
of Sunridge is now commencing more detailed exploration and development
work on the gold deposits and prospects in close proximity to Emba Derho
with the objective to add near surface gold resources to any future
mining operations there. The Emba Derho deposit is only about 500 meters
from Medrizien and approximately 6 kilometers away from Gupo.
Gupo Gold Deposit:
The Gupo gold deposit is one of a number of gold deposits on the Asmara
project that was mined in the early part of the 20th century by Italian
colonists. Gupo is a near surface, structurally controlled gold deposit
that was previously mined from a number of small open-pits that stretch
over a two kilometer strike length.
Sunridge has recently engaged AMEC Americas Limited to complete a
comprehensive data review of all historic drill data on the Gupo
deposit. The review will include a geostatistical analysis of all data
and evaluation of the quality assurance and quality control programs of
previous drill programs. It is anticipated that this work will allow for
an updated resource estimate to be completed in the near future. The
results will also assist in planning the next phase of drilling at Gupo.
A large database exists for the Gupo Gold deposit as it has been subject
to three previous drill campaigns as follows:
- 1996 - 1998 - La Source Division Exploration ("La Source") drilled 124
reverse-circulation drill holes and 5 diamond drill holes;
- 2002 - Sub-Sahara Resources drilled 1 diamond drill hole;
- 2007 - Sunridge drilled 26 combination reverse-circulation/diamond
drill holes.
Based only on the La Source drilling information, currently, the
Inferred Resource at Gupo is 1,965,000 tonnes at an average grade of
2.99 g/t gold containing 189,000 ounces of gold to a vertical depth of
80 meters. Sunridge management believes that this resource can has the
potential to be expanded and upgraded from the inferred to indicated
category by the inclusion of the additional 27 drill holes completed by
Sub-Sahara and Sunridge as well as by further exploration drilling.
Medrizien Gold Prospect:
The Medrizien Gold prospect was also mined by the Italian colonists and
was one of the largest gold producers in the area by both open-pit and
underground methods. Sunridge management has recently completed sampling
and mapping of the Medrizien prospect in order to develop drill targets.
A total of 65 rock grab samples were taken over the length of the
prospect of which 57 samples were from the surface showing of
mineralized quartz veins and altered halo of volcanic rocks. The results
showed 10 samples with assays over 1 g/t gold with these sample values
averaging 12.13 g/t gold with the highest assay being 74.7 g/t gold. The
8 rock samples taken from the old underground workings range from 0.14
g/t up to a value of 319 g/t with an average of 51.32 g/t gold.
The gold mineralization in the Medrizien Gold prospect varies in
thickness from a few meters up to 25 meters over a 3 1/2 kilometer
strike length and occurs in a stockwork of quartz veins associated with
sulphides (pyrite and chalcopyrite) and in a surrounding halo of sheared
volcanic rocks with sericite and pyrite.
About Sunridge
Sunridge Gold Corp. is a mineral exploration company focused on the
acquisition, exploration, discovery and development of precious and base
metal projects. The company is currently conducting exploration on the
Asmara Project in Eritrea. The Company has 62.4 million shares
outstanding, approximately $6 million in cash and the Company 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.
NOTES:
1. A Quality Assurance/Quality Control program was part of the sampling
program on the Medrizien gold prospect. 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 Medrizien gold prospect sampling 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 Chief
Executive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Sunridge Gold Corp.
Don Halliday
Executive Vice President
(604) 899-1505
Email: donh@sunridgegold.com
Sunridge Gold Corp.
Greg Davis
VP Business Development
(604) 688-1263
Email: greg@sunridgegold.com
Website: www.sunridgegold.com
http://www.earthtimes.org/about.php
----[This List to be used for Eritrea Related News Only]----