From: Biniam Haile \(SWE\) (eritrea.lave@comhem.se)
Date: Thu Feb 12 2009 - 12:16:30 EST
http://www.marketwire.com/press-release/Sunridge-Gold-Corp-TSX-VENTURE-S
GC-948822.html
Feb 12, 2009 08:01 ET
Sunridge Gold Receives Positive Metallurgy Results for the Gupo Gold
Deposit
Emba Derho Scoping Study Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 12, 2009) - Sunridge
Gold Corp., (TSX VENTURE:SGC) announces positive metallurgical results
from the Gupo Gold Deposit on the Asmara Project, Eritrea. Gold cyanide
extraction tests on four samples were conducted by SGS Mineral Services,
Cornwall, UK ("SGS") resulting in 95% to 98% gold recovery. Sunridge
intends to complete a new resource estimate and scoping study on the
Gupo Gold Deposit in order to determine the economics of a low-cost,
open-pit, heap-leach gold operation. Sunridge has $6.5 million in its
treasury and is well funded to carry out these activities.
Average Cyanide Leach Test Gold Recoveries:
-----------------------------------------------------Sample
% Au Extraction at 48hrs,
average-----------------------------------------------------Gupo Oxide
98.4-----------------------------------------------------Gupo Sulphide
95.6-----------------------------------------------------
The mineralized material at Gupo is divided into an upper oxide zone and
underlying sulphide zone. Two representative samples from recent diamond
drill holes completed by Sunridge were taken from each zone. SGS's test
work was designed to investigate the amenability of the samples to
cyanide leaching with the samples being subjected to the following
testing procedures:
- Head assay (including gold and silver by screened metallic's
protocol);
- Grind calibrations;
- Cyanide leach testing (over 48 hours) at three different grind sizes
(in duplicate).
Conventional bottle roll cyanidation was performed by conducting tests
at three grind sizes for each of the four types of material. The table
below details the average gold recovery to the cyanide liquors for all
tests.
Cyanide and lime consumptions were low for all tests. The ratio of free
cyanide to either copper or zinc was monitored and found to be well in
excess of the minimum requirement.
Gupo Gold Resource Update
Currently, the Gupo Gold Deposit contains a NI 43-101 compliant inferred
gold resource of 1,965,000 tonnes grading 2.99 grams per tonne gold
containing 189,000 ounces of gold. This resource does not include
results from 26 holes that were reported in a January 15, 2007 news
release.
Some of the best results from that program include:
GG-001-RD: 38.50 metres grading 2.12 g/t gold
GG-002-R: 26.00 metres grading 1.03 g/t gold
GG-008-D: 59.00 metres grading 1.52 g/t gold, incl. 24.0 metres grading
3.11 g/t gold
GG-013-RD: 23.00 metres grading 1.12 g/t gold
GG-015-RD: 50.00 metres grading 1.35 g/t gold
Management of Sunridge believes that the Gupo Gold Deposit could have
the potential to be a low cost, open-pit, heap-leach gold mine based on
the excellent local infrastructure, favorable terrain for open-pit
mining and the potential for increasing the size of the resource based
on new drill results. In addition, Gupo's proximity to Sunridge's large
Emba Derho Deposit could provide additional oxide gold mineralized
material to any future operations. Emba Derho has an oxide gold resource
of 3.5 million tonnes grading 0.84 grams per tonne gold containing
95,000 ounces of gold in a NI 43-101 compliant indicated resource.
Emba Derho Scoping Study Update
The scope of the preliminary assessment study (scoping study) has been
expanded with a specific focus on utilizing the excellent infrastructure
that exists in and around the Asmara Project, such as local electrical
power and existing rail lines. The study will also examine the impact of
lower costs of steel, fuel and other costs on the overall economics of
the scoping study. The expanded scoping study should be completed by the
end of the first quarter of 2009.
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 has cash of $6.5 million, 62.2 million
shares outstanding and 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.
Qualified Person
The Qualified Person for the release of this exploration information is
Michael Hopley, President and Chief Executive Officer of Sunridge Gold
Corp.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this News
Release.
For more information, please contact
Sunridge Gold Corp.
Don Halliday
Executive Vice President
Direct: (604) 899-1505
Email: odealmeida@sunridgegold.com
or
Sunridge Gold Corp.
Greg Davis
VP Business Development
Direct: (604) 688-1263
Email: greg@sunridgegold.com
Website: www.sunridgegold.com
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