Vancouver, British Columbia CANADA, August 01, 2012 /FSC/ - Sunridge
Gold Corp. (SGC - TSX Venture, SGCNF - OTCQX), ("Sunridge") is
pleased to report that final assays results have been received for
the Company's 2012 exploration diamond drill program at the Adi Rassi
copper-gold prospect, part of the Asmara Project in Eritrea. These
results continue to show wide copper and gold intercepts and confirms
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.
The copper-gold mineralized zone has now been defined over about 400
metres strike length, 40 to 100 metres in width and to a vertical
depth of 330 metres. The zone remains open and Sunridge is now
planning the next phase of drilling and completion of an initial
resource estimate on the Adi Rassi deposit.
New Drill Highlights include:
* AR-013-D: 56.17 metres averaging 0.80% copper and 1.01 g/t gold
* AR-014-D: 49.65 metres averaging 0.31% copper and 0.47 g/t gold
* AR-016-D: 74.26 metres averaging 0.52% copper and 0.34 g/t gold
* AR-017-D: 38.20 metres averaging 1.50% copper and 0.50 g/t gold
* AR-018-D: 99.00 metres averaging 0.54% copper and 0.43 g/t gold
Previous Reported Drill Highlights include:
* AR-002-D: 23.00 metres averaging 1.39% copper and 1.95 g/t gold (2010)
* AR-004-D: 78.00 metres averaging 1.00% copper and 0.22 g/t gold (2010)
* AR-010-D: 57.72 metres averaging 1.44% copper and 0.19 g/t gold
(June 25, 2012)
* AR-012-D: 92.50 metres averaging 0.66% copper and 0.51 g/t gold
(June 25, 2012)
"The 2012 drill program has successfully better defined and expanded
the copper and gold mineralized zone and it is now clear that Adi
Rassi has the potential of becoming much larger than the nearby
Debarwa deposit" states Michael Hopley, President and CEO of
Sunridge. "Metallurgical test work is underway to determine if the
copper and gold recovery methodology is compatible with the process
to be used at the nearby Debarwa copper-gold deposit. The next step
is to have an independent initial resource estimate completed".
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) deposit and is mainly hosted in strongly foliated and distorted
altered mafic volcanic tuff and flows. (see map 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/ From To Interval Gold
Copper Azimuth metres metres metres g/
t %
--------------------------------------------------------------------
AR-013-D -75/90 235.20 291.37 56.17
1.01 0.80
and 305.87 310.37 4.50 0.08 0.80
AR-014-D -60/90 25.50 48.00 22.50
0.18 0.50
and 69.00 118.65 49.65 0.47 0.31
AR-015-D -60/90 154.00 231.50 77.50
0.12 0.46
AR-016-D -75/90 232.88 298.14 74.26
0.34 0.52
and 336.33 364.71 28.38 0.30 0.33
*AR-017-D -50/90 5.75 43.95 38.20 0.50 1.50
AR-018-D -60/90 106.70 205.70 99.00
0.43 0.54
AR-019-D -45/90 16.00 40.00 24.00
0.02 0.65
AR-020-D -60/90 165.00 207.00 42.00
0.03 0.58
AR-021-D -60/90 68.60 73.50
4.90 0.02 0.17
AR-022-D -60/90 No significant Assay results
* interval includes 1.5m not sampled and assigned 0.0 grades
Summary of the results from Sunridge drilling in 2010:
------------------------------------------------------------------------
- DRILL HOLE DIP/ FROM TO INTERVAL GOLD
COPPER AZIMUTH METRES METRES METRES
G/T %
------------------------------------------------------------------------
- AR-001-D -50/270 Abandoned
AR-002-D -60/270 127 337 210 0.84
0.49 Including 238 322 84
1.32 0.84 Including 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 -****-
Other 2012 Exploration Targets on the Asmara Project
Other gold and VMS targets drilled as part of the 2012 exploration
program have yet to return any significant results although further
assays are still expected. Sunridge will now focus its efforts on
moving the four established deposits on the Asmara project to the
completion of a final feasibility study in Q1 2013 and developing a
new resource at Adi Rassi.
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 123 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 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: 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.
To view the graphic titled Adi Rassi Drilling Geology please click on
the following link:
http://www.usetdas.com/pr/sgcdrilling08012012.jpg
To view this press release as a webpage, please click on the
following link:
http://www.usetdas.com/pr/sunridgegold08012012.htm
Source: Sunridge Gold Corp. (TSX-V SGC)
http://www.sunridgegold.com
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Received on Thu Aug 09 2012 - 10:57:13 EDT
