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Last C$0.19 CAD
Change Today 0.00 / 0.00%
Volume 6.0K
SGC On Other Exchanges
As of 9:30 AM 04/27/15 All times are local (Market data is delayed by at least 15 minutes).

sunridge gold corp (SGC) Snapshot

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sunridge gold corp (SGC) Details

Sunridge Gold Corp. engages in the acquisition, exploration, discovery, and development of base and precious metal projects. It holds a 100% interest in the Asmara copper-zinc-gold-silver project located in Eritrea. The company is headquartered in Vancouver, Canada.

sunridge gold corp (SGC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$250.0K
Chief Financial Officer
Total Annual Compensation: --
Corporate Secretary and Director
Total Annual Compensation: --
Vice President of Business Development
Total Annual Compensation: C$160.0K
Vice President of Project Development
Total Annual Compensation: C$230.0K
Compensation as of Fiscal Year 2014.

sunridge gold corp (SGC) Key Developments

Sunridge Gold Corp. Provides Update on the Asmara Project, Eritrea

Sunridge Gold Corp. provided an update on current field work and other activities on the Asmara copper/zinc/gold/silver project in Eritrea. The Asmara Project is held by the Asmara Mining Share Company. The Asmara Project comprises six defined deposits, four of which are the subject of a feasibility study completed in May 2013 and are currently in the permitting process. While most of the Company's focus and efforts have been on permitting the four projects in the Feasibility Study and moving them towards production, limited low-cost exploration work has also continued on the Asmara Project. The recent exploration work was focused on the two "pipeline" deposits on the Asmara Project, the Kodadu volcanogenic-massive-sulphide ("VMS") deposit and the Adi Rassi copper-gold deposit. Both deposits have Inferred mineral resources and are open for expansion. The work recent has focused on defining new areas of mineralization to direct future expansion drilling. A total of 14 east - west oriented channels were cut with a portable diamond saw totaling 318.48 meters across the Kodadu VMS gold oxide zone structures to define future drill targets. These structures has now been defined over a total strike length of 1,350 meters. A total of 10 lines of AMT (Audio-Magneto-Telluric) geophysical survey were also completed across the Kodadu VMS system, to define the massive sulfide conductors occurring beneath the oxide gold zone gossans which represent potential drill targets. The AMT data is in final processing. In order to increase the size of the defined mineralization at Adi Rassi the recent focus has been on the South Hill area where copper mineralization can be seen at surface but is not included in the current resource estimate. A total of four east-west oriented trenches totaling 367 meters were dug to bed-rock with a back-hoe and rock samples taken from the trenches by hand to define future drill targets. This trenching program has now defined the copper and precious metal mineralization at Adi Rassi South Hill over a strike length of over 150 meters with an average width of 70 meters.

Sunridge Gold Corp. Presents at Prospectors & Developers Association Conference 2015, Mar-03-2015 04:20 PM

Sunridge Gold Corp. Presents at Prospectors & Developers Association Conference 2015, Mar-03-2015 04:20 PM. Venue: Toronto, Ontario, Canada. Speakers: Michael J. Hopley, Chief Executive Officer, President, Director and Chairman of Asmara Mining Share Company.

Sunridge Announces USD 32 Million 2015 Budget & Program for Asmara Project, Eritrea

Sunridge Gold Corp. provided a summary of the planned activities in 2015 for the Asmara Project, Eritrea. The Asmara Project is owned and operated by the Asmara Mining Share Company (AMSC) which is owned 60% by Sunridge and 40% by Eritrean National Mining Corporation. AMSC expects to achieve several key milestones over 2015 to meet its goal of commencing mining operations in the fourth quarter of 2015. A program and budget for 2015 has been approved by the directors and shareholders of AMSC for approximately USD 32 million, of which Sunridge is responsible for funding two-thirds and ENAMCO one-third. Included in this budget is approximately USD 18 million to purchase trucks, loaders, drills and crushers for the capital cost of the planned Phase 1A mining operation. Phase 1A is the open-pit mining of near surface high-grade copper and gold ore from the Debarwa deposit that will be crushed and shipped directly to a smelter (known as direct shipping ore or 'DSO'). AMSC expects that the equipment for Phase 1A will be financed by the equipment vendors. Sunridge, together with its financial advisor, is in discussions with a number of other potential financing sources to fund the remaining capital costs for AMSC. Also in the Shareholdersâ Agreement, the parties have agreed that ENAMCO will fund the next approximately USD 6 million to AMSC for its portion of retroactive Sunridge contributions to the project. The permitting process to receive a mining license for operation of the Asmara Project was initiated in early 2014 by the submittal of the Social and Environmental Impact Assessment (SEIA) report and other associated documents to the Ministry of Energy and Mines ('MEM'). The MEM appointed an independent engineering company to initiate a due diligence review of the Asmara Project feasibility study and SEIA. The report of this work was completed in November 2014 and presented to MEM and other Eritrean government ministries during the first week of January 2015. The finding of this report will be reviewed and commented on by MEM and the Eritrean regulators prior to approval. The permitting for water use, land use and construction permits all form part of the mining agreement. AMSC expects the mining license and mining agreement to be issued in the second quarter of 2015.


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