Sunridge Gold Drills 58 Metres of 1.44% Copper at Adi Rassi Copper-Gold Project, Asmara Project, Eritrea
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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.
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Drill hole | ? | ? | ? | Dip/
| ? | ? | ? | From metres | ? | ? | ? | To 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 | |||||||||||||||||||
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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 | |||||||||||||||||||
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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 | |||||||||||||||||||
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Drill hole | ? | ? | ? | Dip/ Azimuth | ? | ? | ? | From metres | ? | ? | ? | To metres | ? | ? | ? | Interval metres | ? | ? | ? | Gold g/t | ? | ? | ? | Copper % |
AR-001-D | ? | ? | ? | -50/270 | ? | ? | ? | Abandoned | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ||||
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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 | |||||||||||||||||||
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AR-003-D | - 50/270 | 173 | 196 | 23 | 0.33 | 0.41 | ||||||||||||||||||
and | 237 | 262 | 25 | 0.75 | 0.54 | |||||||||||||||||||
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AR-004-D | - 55/90 | 35 | 113 | 78 | 0.22 | 1.00 | ||||||||||||||||||
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| No significant results | |||||||||||||||||||||||
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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 www.sunridgegold.com
or call Greg Davis at the number listed below.
SUNRIDGE GOLD CORP.
'Michael Hopley?
Michael Hopley, President and Chief Executive Officer
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 maps mentioned above please click on the following links:
http://www.usetdas.com/pr/sunridgeprjune252012001.jpg
http://www.usetdas.com/pr/sunridgeprjune252012002.jpg
To view this release as a webpage, please click on the following link:
http://www.usetdas.com/pr/sunridgeprjune252012.htm
Sunridge Gold Corp.
Greg Davis, 604-688-1263 (direct)
VP
Business Development
greg@sunridgegold.com