Feb 4 2011
Sunridge Gold Corp. (TSX VENTURE:SGC) has provided results from newly received assays from ten diamond drill holes from the Company's Debarwa copper-gold-zinc deposit located on the Asmara Project, Eritrea.
The drill results from the current 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 in March 2011 as part of the ongoing Debarwa feasibility study. Approximately fifty diamond drill holes have been completed to date in this current phase of drilling and approximately five more are planned before completion of this phase of work.
The purpose of the ongoing diamond drill program at Debarwa is to better define and extend both laterally and at depth all zones of copper, gold and zinc mineralization as part of the ongoing Debarwa feasibility study that started in November 2010. The first six shallow holes DEBD-130 to DEBD-133, DEBD-135 and DEBD-136 were designed to intersect the surface outcropping gold-rich oxide zone and/or the copper-enriched supergene zone which lies immediately beneath. Within the supergene zone there exists a particularly high-grade copper zone, with grades greater than 15% copper; this zone is known as the "Direct Shipping Ore" or DSO zone. Four holes DEBD-134 and DEBD-137 to DEBD-139 were drilled deeper to intersect the primary zone of copper-zinc-gold mineralization.
The results of these new assays continue to confirm the high-grade copper grades in the supergene and DSO zones and the deeper holes have both confirmed and extended the depth of the primary zone of copper-zinc-gold mineralization at Debarwa.
As well as better definitions and extensions of the mineralized zones the purpose of the current Debarwa drilling program is to capture structural data from the oriented drill core and to gather more samples for ongoing metallurgical test work.
The Debarwa Feasibility Study
The Debarwa feasibility study will consider a standalone process plant using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will further investigate a direct shipping option to mine high-grade copper mineralization (greater than 15% copper) to generate early cash flow and enhance economics of the deposit. The completion of this report is expected in the third quarter of 2011.