Sunridge Reports More High-Grade Gold, Copper and Zinc
Assays From Asmara Project, Eritrea
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2005) - Sunridge
Gold Corporation ("Sunridge") (TSX VENTURE:SGC)ounce drill results from
the Debarwa gold and base metals VMS deposit and initial results from
the Gupo Gold deposit. These assay results are from drill programs
completed prior to the September 2nd, 2004 halt work order implemented
by the Eritrean Government which was lifted on January 14th, 2005. The
Debarwa and Gupo Deposits are two of several mineralized targets within
the Asmara Project which covers 1,300 square kilometres near the capital
city of Asmara in east-central Eritrea.
The Debarwa results continue to show high-grade mineralization in all
three zones of the deposit over significant widths. In addition, the
positive assays from the initial drill holes at the Gupo Gold Deposit
support past results for the potential delineation of a significant gold
deposit.
HIGHLIGHTS
Debarwa Gossan Zone (gold enriched):
DEBD-029 intersected 17.16 m grading 8.53 g/t Au
DEBD-035 intersected 11.00 m grading 7.70 g/t Au
DEBR-059 intersected 14.00 m grading 6.21 g/t Au
DEBR-085 intersected 9.00 m grading 4.16 g/t Au
DEBR-D-053 intersected 6.96 m grading 13.48 g/t Au
Debarwa Supergene and Primary Zones (copper and zinc enriched):
DEBD-031 intersected 13.80 m grading 2.74 g/t Au and 8.90% Cu
DEBD-032 intersected 5.02 m grading 2.02 g/t Au and 12.15% Cu
DEBD-034 intersected 9.67 m grading 1.13 g/t Au, 3.65% Cu and
9.16% Zn
DEBD-036 intersected 5.25 m grading 1.50 g/t Au, 2.78% Cu and
12.24% Zn
DEBD-038 intersected 10.37 m grading 1.29 g/t Au, 3.25% Cu and
7.21% Zn
DEBR-054 intersected 13.00 m grading 4.23 g/t Au and 9.92% Cu
DEBR-068 intersected 6.00 m grading 2.08 g/t Au, 1.83% Cu and
9.20% Zn
DEBR-069 intersected 9.00 m grading 1.82 g/t Au, 1.52% Cu and
5.12% Zn
DEBR-D-057 intersected 13.25 m grading 2.71 g/t Au and 4.73% Cu
DEBR-D-065 intersected 15.12 m grading 2.00 g/t Au, 4.42% Cu and
8.23% Zn
DEBR-D-075 intersected 7.38 m grading 1.39 g/t Au, 1.80% Cu and
4.35% Zn
DEBR-D-081 intersected 10.00 m of 4.61% Cu
DEBR-D-092 intersected 5.00 m grading 1.07 g/t Au, 1.03% Cu and
10.51% Zn
DEBR-D-096 intersected 10.00 m grading 1.69% Cu and 9.37% Zn
Gupo Gold Highlights:
GG-001-RD intersected 38.50 m grading 2.12 g/t Au
GG-002-R intersected 26.00 m grading 1.03 g/t Au
.........
Debarwa Copper Gold VMS (volcanogenic massive sulphide) Deposit
Table 1 summarizes the most significant assay results from 73 drill
holes completed at both the Debarwa Main and Debarwa South prospects in
late August 2004. The Debarwa South zone is located approximately 750
metres south of Debarwa main. Mineralization remains open to the south
of Debarwa South, between Debarwa Main and Debarwa South and to depth.
Unreported drill holes returned no significant results.
The Debarwa deposit is a VMS deposit with a near surface gossan zone
(depleted in copper but enriched in gold) underlain by a supergene zone
(high-grade copper plus gold) underlain by a supergene/primary
transition zone (high-grade zinc) underlain by the primary zone (copper,
gold and zinc). A map showing the drill hole locations of the new
drilling results can be seen on the Sunridge webpage at
www.sunridgegold.com.
Table 1: Selected Significant intersections for gold, silver, copper
and zinc at Debarwa Main and South
-------------------------------------------------------------
From To
Dip Azimuth ------------------ Interval
Hole Id (degrees) (degrees) (m) (m) (m)
-------------------------------------------------------------
DEBD-029 -60 110 34.00 51.16 17.16
-------------------------------------------------------------
DEBD-031 -60 110 58.20 72.00 13.80
-------------------------------------------------------------
DEBD-032 -60 110 71.08 76.10 5.02
-------------------------------------------------------------
DEBD-034 -60 110 85.13 94.80 9.67
-------------------------------------------------------------
DEBD-035 -60 110 43.00 54.00 11.00
-------------------------------------------------------------
DEBD-036 -60 110 97.75 103.00 5.25
-------------------------------------------------------------
And 111.00 114.70 3.70
-------------------------------------------------------------
DEBD-038 -60 110 130.63 141.00 10.37
-------------------------------------------------------------
DEBR-054 -60 110 65.00 78.00 13.00
-------------------------------------------------------------
DEBR-059 -60 110 28.00 42.00 14.00
-------------------------------------------------------------
DEBR-063 -60 110 36.00 44.00 8.00
-------------------------------------------------------------
DEBR-068 -60 110 92.00 98.00 6.00
-------------------------------------------------------------
DEBR-069 -60 110 96.00 105.00 9.00
-------------------------------------------------------------
DEBR-071 -60 110 98.00 101.00 3.00
-------------------------------------------------------------
DEBR-073 -60 110 126.00 129.00 3.00
-------------------------------------------------------------
DEBR-078 -60 110 125.00 129.00 4.00
-------------------------------------------------------------
DEBR-085 -90 0 0.00 9.00 9.00
-------------------------------------------------------------
DEBR-D-033 -62 110 36.00 51.40 15.40
-------------------------------------------------------------
DEBR-D-035 -60 110 82.05 83.70 1.65
-------------------------------------------------------------
DEBR-D-052 -55 110 60.10 63.10 3.00
-------------------------------------------------------------
DEBR-D-053 -60 110 34.00 40.96 6.96
-------------------------------------------------------------
DEBR-D-057 -60 110 89.00 102.25 13.25
-------------------------------------------------------------
DEBR-D-065 -60 110 85.58 100.70 15.12
-------------------------------------------------------------
DEBR-D-067 -60 110 48.00 55.00 7.00
-------------------------------------------------------------
DEBR-D-070 -60 110 53.00 56.00 3.00
-------------------------------------------------------------
And 85.00 88.00 3.00
-------------------------------------------------------------
DEBR-D-075 -60 110 93.00 96.00 3.00
-------------------------------------------------------------
And 125.00 132.38 7.38
-------------------------------------------------------------
DEBR-D-076 -60 110 122.55 129.00 6.45
-------------------------------------------------------------
DEBR-D-079 -60 110 172.97 177.00 4.03
-------------------------------------------------------------
DEBR-D-080 -60 110 154.31 157.31 3.00
-------------------------------------------------------------
DEBR-D-081 -60 110 65.00 75.00 10.00
-------------------------------------------------------------
And 78.00 81.20 3.20
-------------------------------------------------------------
DEBR-D-089 -60 110 72.20 75.40 3.20
-------------------------------------------------------------
DEBR-D-091 -60 110 81.00 89.00 8.00
-------------------------------------------------------------
DEBR-D-092 -60 110 118.00 123.00 5.00
-------------------------------------------------------------
And 130.50 135.00 4.50
-------------------------------------------------------------
DEBR-D-096 -60 110 141.20 151.20 10.00
-------------------------------------------------------------
DEBR-D-097 -60 110 158.56 161.50 2.94
-------------------------------------------------------------
DEBR-D-099 -60 110 138.11 141.11 3.00
-------------------------------------------------------------
And 160.64 173.55 12.91
-------------------------------------------------------------
--------------------------------------------------------------------
Au Ag Cu Zn
Hole Id (g/t) (g/t) (%) (%) Zone Level
--------------------------------------------------------------------
DEBD-029 8.53 133.13 0.77 0.02 Main L/SG
--------------------------------------------------------------------
DEBD-031 2.74 51.03 8.90 0.04 Main SG
--------------------------------------------------------------------
DEBD-032 2.02 36.64 12.15 0.04 Main SG
--------------------------------------------------------------------
DEBD-034 1.13 41.11 3.65 9.16 Main SG/P
--------------------------------------------------------------------
DEBD-035 7.70 16.02 0.02 0.02 Main L
--------------------------------------------------------------------
DEBD-036 1.50 18.93 2.78 12.24 Main SG/P
--------------------------------------------------------------------
And 0.35 26.07 6.25 0.59 Main P
--------------------------------------------------------------------
DEBD-038 1.29 28.17 3.25 7.21 Main P
--------------------------------------------------------------------
DEBR-054 4.23 84.22 9.92 0.04 Main SG
--------------------------------------------------------------------
DEBR-059 6.21 9.46 0.03 0.01 Main L
--------------------------------------------------------------------
DEBR-063 3.31 98.83 0.92 0.02 Main SG
--------------------------------------------------------------------
DEBR-068 2.08 58.10 1.83 9.20 Main SG/P
--------------------------------------------------------------------
DEBR-069 1.82 39.29 1.52 5.12 Main SG/P
--------------------------------------------------------------------
DEBR-071 1.99 34.20 3.29 1.04 Main SG/P
--------------------------------------------------------------------
DEBR-073 1.56 35.13 1.83 1.67 Main P
--------------------------------------------------------------------
DEBR-078 1.76 38.35 2.59 3.79 Main P
--------------------------------------------------------------------
DEBR-085 4.16 18.91 0.09 0.01 Main G
--------------------------------------------------------------------
DEBR-D-033 2.71 14.87 0.02 0.02 Main L/SG
--------------------------------------------------------------------
DEBR-D-035 1.12 30.29 5.26 0.34 Main SG
--------------------------------------------------------------------
DEBR-D-052 1.41 85.48 1.89 0.19 Main SG
--------------------------------------------------------------------
DEBR-D-053 13.48 177.86 0.04 0.02 Main L
--------------------------------------------------------------------
DEBR-D-057 2.71 48.20 4.73 0.13 Main SG/P
--------------------------------------------------------------------
DEBR-D-065 2.00 41.48 4.42 8.23 Main SG
--------------------------------------------------------------------
DEBR-D-067 2.11 42.84 3.53 0.11 Main SG
--------------------------------------------------------------------
DEBR-D-070 5.69 16.67 0.01 0.01 Main L
--------------------------------------------------------------------
And 1.52 44.87 2.06 0.07 Main SG
--------------------------------------------------------------------
DEBR-D-075 1.50 45.43 3.06 6.42 Main SG
--------------------------------------------------------------------
And 1.39 29.10 1.80 4.35 Main P
--------------------------------------------------------------------
DEBR-D-076 0.74 22.84 2.75 3.37 Main P
--------------------------------------------------------------------
DEBR-D-079 3.84 49.79 1.65 7.72 Main P
--------------------------------------------------------------------
DEBR-D-080 0.40 19.30 4.04 0.19 Main P
--------------------------------------------------------------------
DEBR-D-081 0.50 18.55 4.61 0.09 Main SG
--------------------------------------------------------------------
And 1.47 143.18 10.32 0.18 Main SG
--------------------------------------------------------------------
DEBR-D-089 0.97 15.96 2.98 0.03 South SG
--------------------------------------------------------------------
DEBR-D-091 0.76 16.64 6.25 0.02 South SG
--------------------------------------------------------------------
DEBR-D-092 1.07 9.54 1.03 10.51 Main P
--------------------------------------------------------------------
And 0.19 16.51 5.32 0.10 Main P
--------------------------------------------------------------------
DEBR-D-096 0.67 19.14 1.69 9.37 Main P
--------------------------------------------------------------------
DEBR-D-097 0.26 19.61 9.83 0.05 Main P
--------------------------------------------------------------------
DEBR-D-099 2.39 25.30 0.52 3.50 Main P
--------------------------------------------------------------------
And 0.96 15.83 1.10 2.49 Main P
--------------------------------------------------------------------
.........
Gupo Gold Results
Only six drill holes were completed at the Gupo (formerly Adi Nefas
Doop) gold deposit prior to the stoppage of exploration activities. The
property is located 8 kilometres north of the capital city of Asmara and
38 kilometres north of the Debarwa deposit. To date, results are only
available for four of these holes and three of these holes returned
significant gold values (Table 2). These results from the initial drill
holes at the Gupo Gold Deposit support past results for the potential
delineation of a significant gold deposit. Drilling will resume at Gupo
as soon as possible.
The Gupo gold deposit area contains a series of shallow open-pits
extending for over 2 kilometres of strike and was exploited by Italian
miners during Eritrea's colonial period. Gold mineralization occurs
within a series of structurally controlled metamorphic schists and has
undergone extensive exploration by previous explorers.
Table 2: Selected Significant intersections for gold, silver, copper
and zinc at Gupo Gold Prospect
--------------------------------------------------------------------
Dip Azimuth From To Interval Au
Hole Id (degrees) (degrees) (m) (m) (m) (g/t) Zone
--------------------------------------------------------------------
GG-001-RD -50 285 38.00 76.50 38.50 2.12 Gupo
--------------------------------------------------------------------
GG-002-R -50 285 55.00 81.00 26.00 1.03 Gupo
--------------------------------------------------------------------
GG-003-RD -60 285 67.00 70.00 3.00 7.13 Gupo
--------------------------------------------------------------------
........
Adi Nefas Gossan
Samples from six drill holes completed at the Adi Nefas Gossan
(zinc/copper/gold) prospect prior to the stoppage of exploration work
will now be processed and assayed. These samples have been unavailable
to the joint venture during the stoppage. The Adi Nefas Gossan is a VMS
deposit similar in style to the Debarwa copper/gold deposit and it has
had historical significant zinc, copper, gold and silver credits
reported from limited drilling by previous operators.
Future Exploration Activities
Sunridge and its joint-venture partner Sub-Sahara Resources NL are
currently formulating plans for the resumption of exploration work on
the Asmara Project. These plans will be announced when completed.
Sunridge has earned a 40% interest in the Asmara Joint Venture and can
earn a further 30% interest by continuing to be the sole financial
contributor to the joint venture and by completing a bankable
feasibility study. Sunridge can earn up to a total 90% interest by
financing the project through to production and is in the process of
assuming its role as Manager of the joint venture.
Notes:
1. Hole designation ending in "R" are reverse-circulation holes, those
ending in "D" are diamond drill holes and those holes ending in "RD" are
those started with reverse-circulation and completed with diamond
drilling. In the Level column "G" refers to the Gossan Zone, "L" refers
to the Leached Zone, "SG" refers to the Supergene Zone, and "P" refers
to the Primary Zone.
2. A Quality Assurance/Quality Control program is part of the drilling
program on the Asmara Project. This program includes chain of custody
protocol as well as systematic submittals of standards, duplicates and
blank samples into the flow of samples produced by the drilling.
3. A description of the geology, sampling procedures, and the Company's
laboratory Quality Assurance / Quality Control procedures are as
described in the Company's National Instrument 43-101 Technical Report
filed on February 17, 2004 and amended by the Amended Technical Report
filed dated April 27, 2004. This report is available at www.sedar.com.
4. Samples are prepared at African Horn Testing Services (Eritrea) and
analyzed at Genalysis Laboratories (a NATA registered laboratory) in
Perth, Western Australia.
5. The Qualified Person for the release of this exploration information
is Michael Griffiths Aus IMM, the Chief Executive Officer of Sub-Sahara.
Michael Griffiths is the Qualified Person for the Asmara Project.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Sunridge Gold Corp.
Don Halliday
(604) 623-4708 or Direct: (604) 899-1505
(604) 688-9458 (FAX)
Email: don@sunridgegold.com
Website: www.sunridgegold.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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