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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Thu Mar 17 2011 - 15:55:55 EST
Sunridge Gold Extends Depth of the Primary Copper-Zinc-Gold Mineralization
at Debarwa Deposit, Asmara Project, Eritrea
Thu Mar 17, 2011
_____
Sunridge Gold Corp. (SGC/TSX.V) has received assay results from twenty-one
diamond drill holes from the Debarwa copper-zinc-gold deposit located on the
Asmara Project, Eritrea. Most of these drill holes have successfully
extended the depth of the primary mineralization at Debarwa from 150 to 200
meters from surface. These assays (along with results from 35 drill holes
completed in late 2009) will be used to update the resource estimate for
Debarwa which is scheduled to be completed in April 2011. This new resource
will be used as part of the ongoing Debarwa feasibility study. A total of 59
diamond drill holes have been completed to date in the current phase of
drilling. Assays for 24 diamond drill holes are still pending.
Michael Hopley, Sunridge's President and CEO states "Much of the focus at
Debarwa has been on the shallow parts of the deposit, particularly the Gold
Oxide and Copper Supergene Zones. We are excited that many of these new
deeper drill holes are demonstrating excellent grades of copper, zinc and
gold at depth in the primary zone of mineralization".
Highlights from these latest drilling results are as follows:
* DEB-140 intersected 14.00 meters of 2.78% copper, 7.33% zinc and
1.35 g/t gold
* DEB-143 intersected 13.60 meters of 4.94% copper
* DEB-144 intersected 8.20 meters of 1.87% copper, 10.15% zinc, &1.16
g/t gold
* DEB-146 intersected 7.60 meters of 1.32% copper, 10.51% zinc & 4.87
g/t gold
* DEB-149 intersected 6.00 meters of 4.71% copper, 0.95g/t gold
* DEB-157 intersected 8.10 meters of 1.15% copper, 3.2% zinc & 4.07
g/t gold
A summary of the assay results from these twenty-one drill holes are as
follows:
Drill hole #
>From Metres
To Metres
Interval
Metres
Gold g/t
Silver g/t
Copper %
Zinc %
Zone
DEBD -140
48.00
62.50
14.50
0.81
8.93
0.06
0.63
Gold Oxide
and
82.50
96.50
14.00
1.35
23.18
2.78
7.33
Zinc Primary
DEBD -142
109.95
113.95
4.00
0.01
2.50
0.02
1.22
Zinc Primary
DEBD-143
79.60
93.20
13.60
0.77
23.62
4.94
0.22
Copper Supergene
including
DEBD-143
86.70
91.70
5.00
1.89
59.20
11.52
0.56
Copper Supergene
DEBD-144
127.10
135.30
8.20
1.16
25.46
1.87
10.15
Zinc Primary
DEBD-145
97.84
92.37
4.53
1.29
26.81
1.00
8.85
Zinc Primary
and
114.25
121.04
6.79
2.83
39.93
1.06
5.64
Zinc Primary
DEBD-146
138.60
146.20
7.60
4.87
33.23
1.32
10.51
Zinc Primary
DEBD-147
67.65
72.30
4.65
0.70
7.37
1.58
0.23
Copper Supergene
DEBD-148
106.70
118.00
11.30
3.00
17.63
0.66
3.82
Zinc Primary
DEBD-149
41.60
47.60
6.00
0.95
73.00
4.71
0.18
Copper Supergene
DEBD -150
71.75
83.73
11.98
1.63
49.92
2.29
7.18
Zinc Primary
DEBD -151
159.75
161.75
2.00
5.08
104.50
2.21
5.28
Cu/Zn Primary
DEBD -153
106.00
112.80
6.80
4.46
63.52
1.19
4.01
Cu/Zn Primary
DEBD -154
133.17
137.16
3.99
1.23
23.28
1.08
5.15
Cu/Zn Primary
DEBD -155
25.40
31.40
6.00
0.73
13.38
0.05
0.01
Gold Oxide
DEBD -156
54.80
58.60
3.80
0.69
29.38
1.66
0.02
Copper Supergene
DEBD -157
154.25
162.35
8.10
4.07
44.14
1.15
3.20
Cu/Zn Primary
DEBD-158
80.25
86.80
6.55
1.24
10.49
0.23
0.26
Gold Oxide
and
120.93
122.60
1.67
1.29
261.29
7.76
4.32
Cu/Zn Primary
DEBD-159
113.55
125.00
11.45
0.86
8.20
0.43
0.64
Cu/Zn Primary
DEBD-160
73.30
82.40
9.10
1.37
18.91
0.42
2.93
Zinc Primary
NOTE: A plan map has been posted on the Company's website --
<http://www.sunridgegold.com> www.sunridgegold.com. There were no
significant assays from drill hole DEBD -- 141 and 152.
The Debarwa Feasibility Study
The Debarwa feasibility study will consider a standalone process plant using
flotation for the recovery of the base and precious metals and will study
various mining options over a forecast life of mine of approximately 9
years. The study will further investigate a direct shipping option to mine
high-grade copper mineralization (greater than 15% copper) to generate early
cash flow and enhance economics of the deposit. The completion of this
report is expected in the third quarter of 2011.
ABOUT SUNRIDGE:
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 and approximately $24 million in cash. 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
<http://www.sunridgegold.com> www.sunridgegold.com or call Greg Davis at the
numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the sampling
program on the Debarwa copper-zinc-gold deposit. 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 Debarwa drill program 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 CEO of Sunridge,
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: <mailto:greg@sunridgegold.com> greg@sunridgegold.com
Tel: 604-688-1263 (direct)
Don Halliday,
Email: <mailto:donh@sunridgegold.com> donh@sunridgegold.com
Tel: 604-899-1505 (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.
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