ASX Companies Announcements - Sub-Sahara Resources
Monday, 23rd August 2004
Debarwa Continues to Produce Outstanding Results
DEBR-D-027 intersected 11 metres grading 9.09% copper and 3.70 g/t gold
DEBR-D-036 intersected 40 metres grading 6.92 % copper and 1.73 g/t gold (including 16 metres grading 16.88% copper and 2.09 g/t gold)
DEBR-D-039 intersected 15.79 metres grading 13.24% copper and 1.75 g/t gold
DEBR-D-040 intersected 16 metres grading 5.98% copper and 1.55 g/t gold (including 10.36 metres grading 8.49% copper and 2.29 g/t gold)
DEBR-D-043 intersected 4.18 metres grading 20.37% copper and 2.21 g/t gold
DEBR-D-044 intersected 30 metres grading 9.12% copper and 1.99 g/t gold (including 15 metres grading 16.01% copper and 3.36 g/t gold)
DEBR-D-050 intersected 16.74 metres grading 8.02% copper and 1.61 g/t gold (including 10.88 metres grading 11.36% copper and 2.27 g/t gold)
Sub-Sahara and joint venture partner Sunridge Gold Corp. are pleased to report assay results from an additional 28 diamond and reverse-circulation drill holes from the Debarwa high-grade copper and gold deposit in Eritrea. The Debarwa deposit is part of the Asmara Project which covers 1,300 square kilometres immediately north, south and west of the capital city of Asmara in east-central Eritrea. Several significant zones of mineralization exist on the concessions, namely the Debarwa copper/gold deposit, the Adi Nefas Doop (Gupo) gold deposit, the Adi Nefas zinc/copper/gold deposit and the historic Medrizien Colonial gold mining areas (Figure 1).
DEBARWA
These latest results (Table 1 below) are from the Debarwa Main zone and the Debarwa South zone which is located approximately 750 meters south of Debarwa Main. These latest results are considered to be very encouraging by management as they continue to show high copper values over significant widths of supergene mineralization as demonstrated in drill holes DEBR-D-036, DEBR-D-039, DEBR-D-044 and DEBR-D-050. These intervals have the potential to increase the size of the supergene zone in some areas of the deposit. Mineralization in both zones is open to the north, to the south and at depth. Ground geophysical surveys including gravity and electromagnetic methods are currently being used to generate further drill targets within close proximity to known mineralisation.
A map showing the location of these new drilling results is attached and the results announced today are part of an ongoing drilling program at Debarwa designed to provide detailed information for preliminary resource definition. To date one hundred and forty drill holes have been drilled at Debarwa for a total of 15,313 metres of drilling. This phase of drilling is now completed and further assay results will be published over the coming weeks.
ADI NEFAS
Drilling has also recently started at both the Gupo gold deposit (formerly known as the Adi Nefas Doop gold deposit) and the Adi Nefas zinc/copper/gold gossan zone. The Gupo gold deposit is a structurally controlled zone of gold mineralization that was mined from a series of shallow open-pits extending over a strike length of greater than 2 kilometres by Italian miners during Eritrea’s colonial period. The deposit was extensively drilled in 1996 and 1997 by La Source Development (Normandy Group). The current program of 6 reverse-circulation and diamond drill holes is designed to check the validity of the La Source drilling data. A more extensive drilling campaign will start on the Gupo deposit on the receipt of these results.
An initial program of 6 diamond drill holes has also started on the Adi Nefas zinc/copper/gold gossan zone. This is a typical zinc and copper rich volcanogenic massive sulphide (VMS) deposit with significant gold and silver credits reported from limited drilling by previous operators. This first phase of drilling will be targeting the down dip/plunge of the high-grade mineralization that has previously been identified by the Ethiopian government and Ethio-Nippon Mining during the 1970s. Drilling will also test coincident geochemical and geophysical anomalies along strike to the north.
The Asmara Project is a joint venture between Sunridge and Sub-Sahara. Sunridge is a well-funded Canadian public company focused on the exploration and development of the Asmara Project base metal and gold project in Eritrea and is currently earning a 40% interest by spending US$ 2.4 million on the project. Sunridge has the right to earn a 70% interest in the project by completing a bankable feasibility study and on delivery of the study, Sub-Sahara can elect to contribute pro-rata (24%) to the project development.
For and on behalf of
Sub-Sahara Resources NL
M.R. Griffiths
CEO - Director
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