Sunridge Gold Corp.

Sunridge Gold Corp.

October 06, 2010 13:28 ET

Sunridge Gold Restarts Exploration Drilling and Mobilizes a Second Drill to the Asmara Project, Eritrea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Sunridge Gold Corp. (TSX VENTURE:SGC) announces that it has commenced a new exploration drilling program on the exploration areas of the Asmara Project, Eritrea. This program consists of at least 3,000 metres of diamond drilling and is targeting areas that have the potential for large new discoveries. In addition, Sunridge has mobilized a reverse circulation drill rig to Eritrea in order to commence a 4,000 metre drill program at the Gupo Gold deposit and a 1,000 metre program at the new Medrizien gold target within the next four to five weeks.

Sunridge Gold Joint Venture Drilling Program

The new joint venture drilling program is operated by Sunridge and funded by Antofagasta Minerals and is focused on drilling new targets with the potential for significant new discoveries. Drilling will target the following areas:

  • Adi Watot. This is a large area measuring approximately 1,200 metres long and 400 to 500 metres wide where Sunridge and Antofagasta geologists have identified swarms of quartz veinlets in an area that has elevated copper geochemical values.
  • Adi Kubulo. The geology of this area is similar to Adi Watot although somewhat smaller measuring some 400 metres long and approximately 200 metres wide.
  • Adi Watot – Adi Kubulo Corridor. This target is a corridor between the Adi Watot and Adi Kubulo targets that measures some 3,500 metres long by approximately 400 to 500 metres wide and in which mapping has shown continuity of quartz veinlets in an area with elevated copper values.
  • Adi Rassi. Drilling will test a possible northern extension of Adi Rassi that is associated with structurally controlled malachite showings. Assay results, from the previous drilling program showed long intervals of copper and gold mineralization e.g. drill hole AR-002D which had 84 metres with an average grade of 1.32 g/t gold and 0.84% copper; the results indicate that a potentially large new copper and gold zone has been discovered at Adi Rassi. Geological mapping and sampling shows that alteration associated with copper mineralization is visible over a zone that measures about 80 metres wide along a strike length of approximately 500 metres. 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.
  • Adi Lamza. Surface and previous drill hole information from this prospect has identified a large area of phyllitic alteration which will be drill tested.
  • Adi Tsenaf. A large area of quartz-vein stockwork measuring over 300 metres long will be drill tested.

First results from this new joint venture drilling program are expected to be received in November and will be announced on receipt.

Sunridge Gold drill program

The recently mobilized reverse-circulation drill rig is expected to commence drilling at Sunridge's 100% owned Gupo Gold and Medrizien Gold areas within the next 4 to 5 weeks and will consist of 4,000 metres at Gupo and 1,000 metres at Medrizien.

  • Gupo Gold Project. The objective of the program is to upgrade the existing gold resource at Gupo, currently 189,000 ounces contained in 1,965,000 tonnes at an average grade of 2.99 g/t gold, from an Inferred to an Indicated category and to possibly increase the size of the resource. The gold resources at Gupo are considered to be a potential source of open pit feed for any future mining operations at the northern projects area of the Asmara Project (Emba Derho, Adi Nefas and Gupo).

  • Medrizien Gold ProspectThe objective of the Medrizien drill program is to make a new gold discovery on the Asmara Project. A gold discovery and development of a resource could provide future feed to any mining operations in the northern area of the Asmara Project. A total of fifty-seven rock samples were taken from the surface showing of mineralized quartz veins and altered halo of volcanic rocks. The results showed 10 samples with assays over 1 g/t gold with the highest assay being 74.7 g/t gold. In addition, eight rock samples taken from the old underground workings range from 0.14 g/t up to a value of 319 g/t gold. The gold mineralization in the Medrizien Gold prospect occurs in a stockwork of quartz veins associated with pyrite and chalcopyrite within a surrounding halo of sheared volcanic rocks with sericite and pyrite. This zone varies in width from a few metres up to 25 metres over a 3.5 kilometre strike length.


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 has approximately 76 million shares outstanding and approximately $4.5 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 or call Don Halliday or Greg Davis at the numbers listed below.


  1. A Quality Assurance/Quality Control program was part of the sampling program on the Adi Rassi copper-gold and Medrizien 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.

  2. Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.

  3. The results of the Adi Rassi copper-gold prospect drilling and the Medrizien gold 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.


"Michael Hopley"
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.

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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