Sunridge Gold Begins Drill Program at Medrizien Gold Target, Asmara Project, Eritrea
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/11/11 -- Sunridge Gold Corp. (TSX VENTURE: SGC) is pleased to announce that it has commenced a new exploration drilling program at the Medrizien Gold target on the Asmara Project, Eritrea. Approximately12 reverse circulation drill holes for at least 1,000 metres are planned for the initial drill program. The 100% owned Medrizien Gold target is located within 1 kilometre of the large Emba Derho copper zinc gold VMS deposit which is one of the three Asmara North Deposits.
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. The target varies in width from a few metres up to 25 metres over a 3.5 kilometre strike length. Some historic small scale gold mining was conducted on the site by the Italian colonists consisting of small pits and underground workings.
During previous surface exploration work, a total of 65 rock grab samples were taken over the length of the prospect of which 57 samples were from the surface showing of mineralized quartz veins and altered halo of volcanic rocks (see Sunridge Gold News release dated April 1, 2009). The results showed 10 samples with assays over 1 g/t gold with these sample values averaging 12.13 g/t gold with the highest assay being 74.7 g/t gold. The 8 rock samples taken from the old underground workings range from 0.14 g/t up to a value of 319 g/t with an average of 51.32 g/t gold.
The objective of the Medrizien drill program is to make a new gold discovery on the Asmara Project, which could provide future feed to any mining operations in the northern area of the Asmara Project.
Qualified Person
Michael J. Hopley, President and Chief Executive Officer of Sunridge is the Qualified Person for Sunridge and the person responsible for preparation of the technical information contained in this news release.
NOTES:
1. A Quality Assurance/Quality Control program was part of the sampling program on the 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 Medrizien gold prospect sampling 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 116 million shares outstanding and approximately $25 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please visit our website at www.sunridgegold.com or call Greg Davis at the numbers listed below. All of the above mentioned technical reports are filed on the Company's profile at www.sedar.com.
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 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.
Contacts:
Sunridge Gold Corp.
Greg Davis
VP Business Development
604-688-1263 (direct)
greg@sunridgegold.com
Sunridge Gold Corp.
Don Halliday
604-899-1505 (direct)
donh@sunridgegold.com
www.sunridgegold.com