Sunridge Gold Corp.
TSX VENTURE : SGC

Sunridge Gold Corp.

April 28, 2011 08:01 ET

Sunridge Gold Announces Drill Results from the Debarwa Deposit, Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2011) - Sunridge Gold Corp. (TSX VENTURE:SGC) announces assay results for the remaining diamond drill holes from the Company's Debarwa copper-gold-zinc volcanogenic massive sulphide (VMS) deposit located on the Asmara Project in Eritrea. The 7,000 meter drill program at Debarwa is now complete and was successful in better defining all zones of the Debarwa deposit as well as extending the known depth of the primary mineralization. Results from this program (along with results from 35 drill holes completed in late 2009) will be used to update the resource estimate for Debarwa which is scheduled to be completed by late May as part of the ongoing Debarwa feasibility study. Drilling continues on the Asmara North projects (Emba Derho, Adi Nefas and Gupo Gold) with three drills currently operating.

The mineralization at Debarwa is known to extend over a strike length of approximately 1,400 meters with the strongest mineralization being in the northern and central portion of the deposit. The majority of these twenty-four drill holes (DEBD-161 to DEBD-184) and one geotechnical hole (DH-10) were targeted at the southernmost part of the deposit and were successful in further defining and expanding the deposit in this area.

Highlights from the most recent drilling:

  • DEBD-168 intersected 11.85 meters of 7.25 g/t gold and 96.47 g/t silver
  • DEBD-169 intersected 22.45 meters of 1.27 g/t gold and 13.69 g/t silver
  • DEBD-174 intersected 10.25 meters of 3.22% copper
  • DEBD-178 intersected 14.40 meters of 3.27 g/t gold and 4.21% copper
  • DEBD-184 intersected 35.30 meters of 7.72% copper (see note 3 below)
  • DH11-10 intersected 15.40 meters of 2.40 g/t gold, 0.93% copper, and 2.38% zinc

Highlights from the entire 2011 diamond drill program include:

  • DEBD-128 intersected 19.20 meters of 12.65% copper, 2.28 g/t gold, and 49.39 g/t silver*
  • DEBD-129 intersected 22.00 meters of 13.14% copper, 4.00 g/t gold, and 60.91 g/t silver*
  • DEBD-130 intersected 31.85 meters of 5.72% copper, 2.13 g/t gold, and 57.59 g/t silver **
  • DEBD-132 intersected 13.45 meters of 16.22% copper, 3.22 g/t gold, and 86.57 g/t silver **
  • DEBD-133 intersected 16.70 meters of 14.90% copper, 2.15 g/t gold, and 75.92 g/t silver **
  • DEBD-135 intersected 25.45 meters of 11.22% copper, 1.75 g/t gold, and 40.23 g/t silver **
  • DEBD-136 intersected 11.45 meters of 4.10% copper, 2.18 g/t gold, and 46.84 g/t silver **
  • DEBD-138 intersected 16.50 meters of 3.66% copper, 7.15% zinc, and 2.43 g/t gold**
  • DEBD-140 intersected 14.00 meters of 2.78% copper, 7.33% zinc, and 1.35 g/t gold***
  • DEBD-143 intersected 13.60 meters of 4.94% copper, 0.77 g/t gold, and 23.62 g/t silver ***

* Results from these drill holes first reported on January 19, 2011
** Results from these drill holes first reported on February 3, 2011
*** Results from these drill holes first reported on March 17, 2011

A summary of all significant drill intersections from the Debarwa 2011 drill program and map has been posted on the Company's website at www.sunridgegold.com. The table below lists the results from the final twenty-five drill holes from the 2011 program.

Drill hole #From
Meters
To
Meters
Interval
Meters
Gold
g/t
Silver
g/t
Copper
%
Zinc
%
Zone
DEBD-16168.2074.866.661.9816.440.390.66Oxide Zone
and DEBD-16174.8683.28.341.2344.150.965.48Primary Zn-Cu
DEBD-16252.0059.037.032.7854.541.213.66Primary Zn-Cu
DEBD-16353.0057.414.410.7114.370.382.17Primary Zn
DEBD-16447.8051.503.700.012.501.260.01Cu Supergene
DEBD-16557.7061.273.571.9620.344.180.04Cu Supergene
DEBD-16646.6551.805.153.2571.582.085.79Primary Zn-Cu
DEBD-16750.0058.008.000.248.002.970.11Cu Supergene
DEBD-16838.4550.3011.857.2596.470.370.01Oxide Zone
and DEBD-16851.0063.9012.900.082.741.380.01Cu Supergene
DEBD-16963.0585.5022.451.2713.690.190.53Oxide Zone
and DEBD-16987.5291.123.603.1273.791.2610.70Primary Zn-Cu
DEBD-17092.7197.164.451.2719.460.431.99Primary Zn
and DEBD-17098.62100.902.280.185.031.730.21Primary Cu
DEBD-17155.0059.954.950.9716.320.190.19Oxide Zone
DEBD-17363.3666.853.490.8225.390.796.17Primary Zn
DEBD-17467.6577.9010.250.2823.263.220.05Cu Supergene
DEBD-17550.0753.073.000.8812.000.290.89Oxide Zone
DEBD-17649.4552.102.651.9333.280.761.37Primary Zn
DEBD-17761.7666.264.500.609.830.050.21
DEBD-17852.2566.6514.403.2743.004.210.19Cu Supergene
DEBD-17938.3042.003.700.9829.030.060.69Oxide Zone
and DEBD-17942.0047.005.001.1331.410.503.57Primary Zn
Inc DEBD-17945.8747.001.133.82118.001.8612.95Primary Zn
DEBD-180Incomplete assays - 2 missing geotechnical samples in middle of mineralization – see note (1) below
DEBD-183Incomplete assays – 4 missing geotechnical samples in middle of mineralization - see note (1) below
DEBD-18446.0056.5010.500.7534.710.030.01Au Cap
and DEBD-18458.1593.4535.300.8916.277.720.04Cu Supergene
Inc DEBD-18461.1569.158.001.6530.0013.000.06Cu Supergene
DH11-1058.5573.9515.402.4023.480.932.38Primary Zn-Cu
Inc DH11-1059.4563.504.052.0628.221.054.91Primary Zn-Cu
and DH11-1068.0571.953.904.2337.461.303.72Primary Zn-Cu
Table footnote: No significant assays in drill holes DEBD-172, 181& 182.

Note (1) Drill hole DEBD-180 intersected 22.9 metres of mineralization but no average grades can be reported because two samples were taken within the mineralized section for geotechnical testing and assays for these samples will not be available for several weeks. Similarly, no average grades can be reported for drill hole DEBD-183 which intersected 20.97 meters of mineralization but four samples were taken for geotechnical testing within the mineralized section.

Medrizien Gold Drill Program:

Assays have been received for the 1,000 meter drill program at the Medrizien Gold Prospect. The best results of the 12 hole reverse circulation drill program are as follows:

  • MEDR-002A intercepted 1.00 meter of 1.142 g/t gold
  • MEDR-002B intercepted 5.00 meters of 0.79 g/t gold
  • MEDR-006 intercepted 5.00 meters of 1.94 g/t gold

No significant assays in the remaining holes.

NOTES:

  1. A Quality Assurance/Quality Control program was part of the drilling program on the Debarwa and Medrizien Gold projects. 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.
  2. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.
  3. True thickness is estimated to be 80 to 90% of the drill intervals reported, with the exception of drill hole DEBD-184 which was designed for metallurgical samples in the Supergene Copper Zone and was drilled sub-parallel to the mineralization.
  4. The results of the Debarwa and Medrizien Gold project drill programs 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 and $22 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 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.

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