From: Biniam Tekle (biniamt@dehai.org)
Date: Tue Feb 17 2009 - 08:09:24 EST
Tuesday, 17 February 2009
Sunridge Gold Receives Positive Metallurgy Results for the Gupo Gold Deposit
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:
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Sample % Au Extraction at 48hrs, average
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Gupo Oxide 98.4
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Gupo Sulphide 95.6
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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*
<http://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.
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