Sunridge Gold Begins Drilling Gold Cap at Kodadu, Asmara Project, Eritrea
Sunridge Gold Corp. (the 'Company? or 'Sunridge?)
(SGC:TSX.V/SGCNF:OTCQX) is pleased to announce that a
reverse-circulation drill program has commenced on the Kodadu
volcanogenic-massive sulphide (VMS) target located on the Company′s
Asmara Project in Eritrea, East Africa.
The program consisting of approximately 20 drill holes is specifically
targeting the oxide gold cap within the upper oxidized zones (known as
gossans) of the Kodadu VMS mineral occurrence. The goal of the program
is to rapidly define a resource that could be mined as feed to a central
gold plant near the large Emba Derho deposit.
'Although Sunridge′s main focus has recently been completing the Asmara
Project feasibility study and moving the four established deposits on
the Asmara Project toward production, it is important to realize that
the area remains highly prospective for new gold and base metal
deposits? states Michael Hopley, Sunridge′s President and CEO.
The Kodadu VMS target is located approximately 25 kilometres south of
the Emba Derho copper-zinc-gold-silver deposit. Several gossans trend
north-northeast for over a 1.2 kilometre strike length with an average
width of 10 metres and about 35 metres deep. A recent (2009) Sunridge
trenching program in which 87 samples were taken, returned 28 gold
values of over 0.2g/t and the best values were 10.67g/t over 14.7m,
2.3g/t over 8m and 1.79 g/t over 13.3m.
Gold mineralization that has been identified in a one kilometre shear
zone running parallel and about 100 metres west of the Kodadu gossans
will also be drill tested. Geological mapping has shown the zone to be
approximately 30 metres wide and historic gold values from trenches
sampled by a previous operator are reported as 3.85g/t over 50m; 2.05g/t
over 50m; and 11.87g/t over 8m.
Qualified Person
Mr. Michael J. Hopley is the Qualified Person who approved the technical
information contained in this news release.
About Sunridge:
Sunridge is a mineral exploration and development company focused on the
acquisition, exploration, discovery and development of base and precious
metal deposits on the Asmara Project in Eritrea and exploration
properties in Madagascar. Sunridge currently has approximately 175
million shares outstanding and 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 numbers 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 continue to be refined; possible variations in ore grade or
recovery rates; accidents, labor disputes and other risks of the mining
industry; delays in negotiating a shareholders′ agreement with ENAMCO
and 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 this press release as a webpage please click on the following
link:
http://www.usetdas.com/pr/sunridgegoldjan232013.htm
Sunridge Gold Corp.
Greg Davis, 604-688-1263 (direct)
VP
Business Development
greg@sunridgegold.com