Sunridge Gold Corp.
TSX VENTURE : SGC

Sunridge Gold Corp.

December 02, 2009 08:01 ET

Sunridge Gold Drills 15.67 Metres of 10.21% Copper and 2.01 g/t Gold at the Debarwa Deposit, Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2009) - Sunridge Gold Corp. (TSX VENTURE:SGC) is pleased to announce assay results for the first four diamond drill holes from the 2009 drill program at the 100% owned Debarwa high-grade copper-gold-zinc volcanogenic massive sulphide (VMS) deposit in Eritrea. To date, thirty-five holes have been completed with the objective of expanding the supergene and primary zones. Further assays will be released as available.

DRILL HIGHLIGHTS:

DEBD-092: 36.75 metres grading 4.82% copper and 1.12 g/t gold, including 15.67 metres grading 10.21% copper and 2.01 g/t gold

DEBD-093: 24.00 metres grading 1.13% copper

DEBD-094: 26.15 metres grading 3.77% copper including 14.15 metres grading 6.26% copper

Holes DEBD-092 and 095 were drilled into the main copper supergene zone at Debarwa to further define this zone and to get fresh samples for further metallurgical testing. Results of DEBD-092 are very encouraging because the high grade copper supergene intercept in this hole is significantly wider than predicted. In addition, drill hole DEBD-095 extended the high grade supergene copper zone about 20 metres further down-dip.

Drill holes DEBD-093 and DEBD-094 were drilled to define and extend the high-grade copper mineralization down-dip in the Debarwa South and successfully intercepted the high-grade zone. The Debarwa south zone is located approximately 400 metres south of the main Debarwa zone. DEBD-092 and 094 both indicate potential to increase resources and grades at the Debarwa VMS deposit (see attached map: http://media3.marketwire.com/docs/sgc121.pdf).

Hole IDFromToIntervalGoldSilverCopper
metresmetresmetresg/tg/t%
DEBD-09247.9584.7036.751.12341.04.82
Including67.5383.2015.672.0172.5210.21
DEBD-09353.5077.5024.000.346.001.13
DEBD-09472.3598.5026.150.588.053.77
Including75.3589.5014.150.8913.096.26
DEBD-09572.8880.507.620.7812.974.62

Note: True thickness is estimated at approximately 90% of the drill intervals reported in the table.

The objective of the drill program at Debarwa is to expand the existing resources by testing nearby geophysical anomalies as well as attempting to extend the high-grade copper-gold supergene zone to the south and to extend the copper-zinc primary zone to depth. In addition, fresh samples for metallurgical testwork were recovered.

In the existing resource at Debarwa the copper supergene zone has an average grade of 5.36% copper using a 1% copper cut-off, and is estimated to contain 158 million pounds of copper in the Indicated category. The primary zone at Debarwa has not had significant delineation drilling in previous programs and is open for expansion at depth and along strike. The primary zone has an average grade of 2.53% copper with 3.23% zinc in the Indicated category using a 1% copper cut-off. (see the resource statement below).

Michael J. Hopley is the Qualified Person for Sunridge and is the person responsible for preparation of the technical information contained in this news release. Mr. Hopley is President and Chief Executive Officer of Sunridge.

ABOUT SUNRIDGE:

Sunridge Gold Corp. 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. On October 2, 2009, Sunridge announced the signing of a definitive exploration and funding agreement with Antofagasta Minerals S.A. to form a strategic partnership whereby Antofagasta will fund US$10,000,000 of exploration work over a five year period on the "Exploration Areas" of the Asmara project to earn up to a 75% interest in these areas and also invested US$5,000,000 in a non-brokered private placement.

Sunridge has approximately 76 million shares outstanding and $8.3 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.


  SUNRIDGE GOLD CORP.
 
 
  Michael Hopley, President and Chief Executive Officer
 
 
 

 
 

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company's filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.

See the Technical Report titled Debarwa Project, Eritrea, Mineral Resource Estimate prepared by MSA Geoservices (Pty) Ltd. filed on SEDAR on March 4, 2008.

The January 21, 2008 MSA resource estimates for Debarwa are summarized as follows:

Debarwa - Indicated Resources    
       
ZoneCut OffK-tonnesAu g/tAg g/tCu%Zn%
Oxide+Transition0.5 g/t Au2,4421.7113.790.120.09
Supergene1% Cu1,3361.5433.875.360.08
Primary1% Cu6990.8722.312.533.23
Totals 4,478    
Debarwa - Inferred Resources    
       
ZoneCut OffK-tonnesAu g/tAg g/tCu%Zn%
Oxide+Transition0.5 g/t Au1130.978.550.080.04
Supergene1% Cu950.5212.131.690.31
Primary1% Cu3560.9822.101.912.85
Totals 564    

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.

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