Total contained metals in the Measured and Indicated categories are estimated as:
1.00 billion pounds of copper
2.1 billion pounds of zinc
506,000 ounces of gold
18.6 million ounces of silver.
Mon Feb 6, 2012
Sunridge Gold Announces New Larger Resource For The Emba Derho Copper, Zinc, Gold Deposit, Asmara Project, Eritrea
Sunridge Gold Corp. (TSX.V:SGC) is pleased to announce that it has received a new independent resource estimate which shows a significant increase in size for the Emba Derho volcanogenic massive sulphide (VMS) deposit on the Company's 100% owned Asmara Project, Eritrea. This new resource was completed by Snowden Mining Industry Consultants Inc. ("Snowden") as part of its ongoing prefeasibility study on the Asmara North Deposits which include Emba Derho, the Adi Nefas zinc-gold-copper VMS deposit and the Gupo gold deposit. The prefeasibility study is being conducted by Snowden and GBM Minerals Engineering Consultants Ltd. and is scheduled for completion in April 2012.
Highlights:
Measured and Indicated resources are 70.0 million tonnes. In addition there are 15 million tonnes in the Inferred category
Copper-rich zone: 49.8 million tonnes at an average grade of 0.83% copper and 0.93% zinc
Zinc-rich zone: 16.8 million tonnes at an average grade of 2.80% zinc and 0.31 g/t gold
Total contained metals in the Measured and Indicated categories are estimated as:
1.00 billion pounds of copper
2.1 billion pounds of zinc
506,000 ounces of gold
18.6 million ounces of silver.
Note: Contained metal calculations are as follows: copper and zinc: tonnes x grade (%) x 2204.622. Gold and silver: tonnes x grade (g/t) ÷ 31.10348. Results were rounded and no allowance was made for mining dilution or metal losses in the recovery process.
Sunridge President and CEO Michael Hopley says "This new resource estimate exceeds expectations; Emba Derho now contains 1 billion pounds of copper and over 2 billion pounds of zinc along with significant amounts of gold and silver in the Measured and Indicated resource categories. Because of the exceptionally clean metallurgy and amenable shape of the deposit for open-pit mining, we expect that most of these resources will be converted to reserves with the completion of the pre-feasibility study in April."
Since the last resource estimate at Emba Derho (Wardrop, September 17, 2008) 150 drill holes for a total of over 30,000 meters of drilling have been completed by Sunridge with the goal of expanding the size of the deposit as well as better defining areas of the deposit to upgrade the mineral resources to the Measured and Indicated categories for the pre-feasibility study; the study will only consider material in these categories. The drilling was also designed to collect samples for ongoing metallurgical testwork as well as the gathering of geotechnical data.
Measured and Indicated Mineral Resources at Emba Derho
