Sunridge Gold Announces New Drill Results From Gupo Gold Deposit, Asmara Project, Eritrea
26 Julio 2011 - 7:00AM
Marketwired
Sunridge Gold Corp. (TSX VENTURE: SGC) announces it has received
more encouraging gold assays for the latest 25 reverse circulation
drill holes from the recent program at the Gupo Gold deposit on the
Company's 100% owned Asmara Project, Eritrea. The 52 hole 4,500
meter drilling program appears to have successfully confirmed and
possibly expanded the area of gold mineralization. The results will
now be used to upgrade the resource as part of the ongoing
prefeasibility study on the Asmara North Deposits which include the
Emba Derho, Adi Nefas, and Gupo Gold deposits. Also, based on the
success of the program, Sunridge is planning additional holes for
further for potential resource expansion and further definition of
the deposit.
Program Highlights:
-- Drill hole GG-058-R intersected 23 meters averaging 2.89 g/t gold and 16
meters averaging 2.77 g/t gold
-- Drill hole GG-062-R intersected 15 meters averaging 4.56 g/t gold
-- Drill hole GG-064-R intersected 11 meters averaging 2.31 g/t gold
-- Drill hole GG-068-R intersected 4 meters averaging 10.56 g/t gold
including 1 meter at 41.24 g/t gold
-- Drill hole GG-028-R intersected 37 meters averaging 1.51 g/t gold (i)
-- Drill hole GG-030-R intersected 9 meters averaging 9.26 g/t gold (i)
-- Drill hole GG-036-R intersected 47 meters averaging 2.13 g/t gold (i)
-- Drill hole GG-039-R intersected 29 meters averaging 2.05 g/t gold (i)
-- Drill hole GG-047-R intersected 64 meters averaging 1.25 g/t gold (i)
(i)assays previously announced in Sunridge Gold news release SGC
NR2011-12 dated June 6, 2011.
Gold mineralization at Gupo extends over a strike length of
approximately 1.6 kilometers and is associated with stockwork
quartz veins and a sericite alteration halo controlled by a shear
zone. Current resources contain 189,000 ounces of gold at an
average grade of 2.99 g/t (see details of resources at the end of
this news release). The resource is at surface and drilling has
shown mineralization to extend to at least to 80 meters vertical
depth and remains open at depth. As can be seen in the attached map
(http://media3.marketwire.com/docs/726SGCmap.pdf), the results of
these 52 holes extend over only about a 600 meter strike length in
the northern part of the deposit.
"We are very happy with the gold results from the drill program
at Gupo," commented Michael Hopley, President and CEO of Sunridge
Gold. "The results appear to support the previous resource
estimates and we will now work on updating the resource at Gupo. We
are also seeing the potential to expand the resource as the gold
mineralization appears to be continuing to depth."
A summary of significant results are as follows:
-------------------------------------------------
From To Interval Gold
Drill Hole metres metres metres g/t
-------------------------------------------------
GG-053-R 57 58 1.00 7.31
-------------------------------------------------
GG-054-R 26 28 2 0.51
-------------------------------------------------
GG-055-R 15 18 3 0.76
-------------------------------------------------
GG-056-R 14 17 3 4.44
-------------------------------------------------
GG-057-R 93 97 4 1.80
-------------------------------------------------
GG-058-R 40 56 16 2.77
-------------------------------------------------
and 103 126 23 2.89
-------------------------------------------------
GG-059-R 8 14 6 1.08
-------------------------------------------------
and 17 25 8 1.16
-------------------------------------------------
and 28 35 7 1.79
-------------------------------------------------
GG-060-R 59 61 2 0.73
-------------------------------------------------
GG-061-R 22 27 5 1.11
-------------------------------------------------
and 51 54 3 0.61
-------------------------------------------------
GG-062-R 25 40 15 4.56
-------------------------------------------------
and 27 31 4 15.91
-------------------------------------------------
GG-063-R 11 13 2 0.68
-------------------------------------------------
GG-064-R 43 49 6 1.96
-------------------------------------------------
And 54 58 4 1.79
-------------------------------------------------
And 62 73 11 2.31
-------------------------------------------------
GG-065-R 0 20 20 0.96
-------------------------------------------------
GG-066-R 22 23 1 1.27
-------------------------------------------------
and 28 30 2 1.10
-------------------------------------------------
GG-067-R no significant results
-------------------------------------------------
GG-068-R 47 51 4 10.56
-------------------------------------------------
Including 49 50 1 41.24
-------------------------------------------------
and 54 58 4 2.46
-------------------------------------------------
and 63 70 7 3.07
-------------------------------------------------
and 75 82 7 5.42
-------------------------------------------------
Including 79 80 1 20.01
-------------------------------------------------
GG-069-R 27 37 10 1.51
-------------------------------------------------
GG-070-R 21 23 2 0.78
-------------------------------------------------
and 42 46 4 0.86
-------------------------------------------------
GG-071-R no significant results
-------------------------------------------------
GG-072-R no significant results
-------------------------------------------------
GG-073-R 41 56 15 1.44
-------------------------------------------------
and 69 73 4 3.10
-------------------------------------------------
and 115 120 5 1.26
-------------------------------------------------
GG-074-R 19 22 3 1.12
-------------------------------------------------
GG-075-R 1 4 3 0.63
-------------------------------------------------
and 16 19 3 1.29
-------------------------------------------------
GG-076-R no significant results
-------------------------------------------------
GG-077-R 7 11 4 2.15
-------------------------------------------------
Void - no
And 11 15 4 samples
-------------------------------------------------
And 15 18 3 1.28
-------------------------------------------------
Gupo Gold Resources Inferred resource estimates for Gupo (then
referred to as Adi Nefas Doop) from report titled "Independent
Consulting Geologists Technical Report - Asmara Project" prepared
by Blackburn, G. and Chisholm, R., dated April 2004 (which may be
viewed under Sunridge's profile on SEDAR at www.sedar.com) are
summarized as follows:
--------------------------------------------------
Gupo Gold - Inferred Resources
--------------------------------------------------
Tonnes Average Gold Grade g/t Ounces of Gold
--------------------------------------------------
1,965,000 2.99 189,000
--------------------------------------------------
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 $17 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 www.sunridgegold.com or call Don Halliday or Greg Davis
at the numbers listed below.
Notes:
1. All drill holes reported are reverse-circulation drill
holes.
2. Drill intercept lengths only are reported in the tabulations;
it is estimated that true width will be approximately 80% of the
reported drill intercept length.
3. A Quality Assurance/Quality Control program is part of the
drilling program on the Asmara Project. This program includes chain
of custody protocol as well as systematic submittals of standards,
duplicates and blank samples into the flow of samples produced by
the drilling.
4. A description of the geology, sampling procedures, and the
Company's laboratory Quality Assurance/Quality Control procedures
are as described in each of the Company's most recent National
Instrument 43-101 Technical Reports filed and dated March 15, 2007.
These reports are available on the Company's profile at
www.sedar.com.
5. Samples are prepared at African Horn Testing Services
(Eritrea) and analyzed at Genalysis Laboratories (a NATA registered
laboratory) in Perth Western Australia.
6. The Qualified Person responsible 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
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.
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.
Contacts: Sunridge Gold Corp. Greg Davis VP Business Development
604-688-1263 (direct) greg@sunridgegold.com
www.sunridgegold.com
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