Sunridge Gold Drills 58 Metres of 1.44% Copper at Adi Rassi Copper-Gold
Project, Asmara Project, Eritrea
Jun 26, 2012
Read in original:
http://www.sunridgegold.com/s/PressReleases.asp?ReportID=532605
_____
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:
* AR-010D: 57.72 metres averaging 1.44% copper and 0.19 g/t gold
* AR-012D: 92.50 metres averaging 0.66% copper and 0.51 g/t gold
2010 Drill Highlights include:
* AR-002D: 23.00 metres averaging 1.39% copper and 1.95 g/t gold
* AR-004D: 78.00 metres averaging 1.00% copper and 0.22 g/t gold
"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:
Drill hole
Dip/
Azimuth
>From metres
To metres
Interval metres
Gold g/t
Copper %
AR-010-D
-60/90
6.00
63.72
57.72
0.19
1.44*
Incl
13.50
51.72
38.22
0.27
2.03
AR-011-D
-50/90
10.10
93.00
82.90
0.79**
0.28*
and
40.70
58.31
17.61
2.86**
0.41
AR-012-D
-60/90
153.5
246.00
92.50
0.51
0.66*
Incl
157.00
184.00
27.00
0.47
1.41
and
218.50
244.00
25.50
1.01
0.39
* Average of entire assayed interval
** Includes a single assay of 24.89 g/t gold
Summary of the results from Sunridge drilling in 2010:
Drill hole
Dip/
Azimuth
>From metres
To metres
Interval metres
Gold g/t
Copper %
AR-001-D
-50/270
Abandoned
AR-002-D
- 60/270
127
337
210
0.84
0.49
Incl
238
322
84
1.32
0.84
Incl
298
321
23
1.95
1.39
AR-003-D
- 50/270
173
196
23
0.33
0.41
and
237
262
25
0.75
0.54
AR-004-D
- 55/90
35
113
78
0.22
1.00
AR-005-D to AR-009-D
No significant results
NOTES:
1. All drill holes reported are diamond drill holes.
2. A Quality Assurance/Quality Control program was part of the sampling
program on the Adi Rassi copper-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.
3. Samples were prepared at African Horn Testing Services (Eritrea) and
analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth,
Western Australia.
4. Drilling intercepts lengths only are reported in the tabulations; it is
estimated that true width will be approximately 80 to 90% of the mineralized
intersections reported.
5. The results of the Adi Rassi copper-gold prospect sampling 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 Chief
Executive Officer of Sunridge.
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. 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 number listed below.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: <mailto:greg_at_sunridgegold.com> greg_at_sunridgegold.com
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.
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Received on Tue Jun 26 2012 - 12:11:51 EDT
