FSC / Press Release
Sunridge Gold Begins Drilling Gold Cap at Kodadu, Asmara Project, Eritrea
Vancouver, British Columbia CANADA, January 23, 2013 /FSC/ - Sunridge Gold Corp.
(SGC:TSX.V/SGCNF:OTCQX)(the "Company" or "Sunridge")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
"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
Mr. Michael J. Hopley is the Qualified Person who approved the technical
information contained in this news release.
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, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Tel: 604-688-1263 (direct)
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
Source: Sunridge Gold Corp. (TSX-V SGC) http://www.sunridgegold.com
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Provider ID: 00020984
-0- Jan/23/2013 12:00 GMT
Press spacebar to pause and continue. Press esc to stop.