VANCOUVER, BRITISH COLUMBIA, Feb 25, 2010 (MARKETWIRE via COMTEX) — Sunridge Gold Corp. /quotes/comstock/11v!sgc (CA:SGC 0.41, +0.03, +8.00%) is pleased to report that results from the recently completed thirty-five drill holes at the 100% Sunridge owned Debarwa copper-gold-zinc volcanogenic massive sulphide (VMS) project has expanded the envelope of mineralization both down dip and along strike to the south. Additionally, a new eastern limb to the Debarwa deposit has been discovered and the drilling has demonstrated that the Debarwa deposit remains open in several areas.
Debarwa Highlights:
- Results from drill holes DEBD-092, DEBD-095 and DEBD-113 show the high-grade copper supergene intercept to be significantly wider than predicted and drill hole DEBD-095 extended this zone about 20 metres further down-dip.
- Drill holes DEBD-093, DEBD-094 and DEBD-121 successfully intercepted high-grade copper supergene mineralization in the Debarwa South zone located approximately 400 metres south of the main Debarwa zone.
- Drill holes DEBD-098 and DEBD-103 intercepted a previously unknown limb located 100 to 200 metres to the east of the main Debarwa deposit.
- Drill holes DEBD-100, 108, 110, 111, 112, 118, and 119 expanded the primary mineralization to depth which remains open to depth.
- Drill holes DEBD-122 and DEBD-123 extended the strike length of the Debarwa deposit by approximately 200 metres beyond any previous drilling to the south and the zone remains open to the south. See map at the end of this document.
Debarwa Assay Highlights:
DEBD-092: 36.75 metres grading 4.82% copper and 1.12 g/t gold, including 15.67 metres grading 10.21% copper and 2.01 g/t gold(i)
DEBD-093: 24.00 metres grading 1.13% copper(i)
DEBD-094: 26.15 metres grading 3.77% copper including 14.15 metres grading 6.26% copper(i)
DEBD-095: 7.62 metres grading 4.62% copper(i)
DEBD-111: 4 metres grading 1.09% copper, 9.33% zinc and 2.72 g/t gold
DEBD-112: 11.16 metres grading 1.15% copper, 2.82% zinc and 2.48 g/t gold
DEBD-113: 6.7 metres grading 13.42% copper, 2.63 g/t gold, and 49.21 g/t silver
DEBD-114: 9.40 metres grading 2.11% copper, 1.91 g/t gold, and 142.77 g/t silver
DEBD-121: 7.50 metres grading 3.33% copper
(i) Results previously released in NR 2009-12 on December 2, 2009.
Michael Hopley, President and CEO of Sunridge comments that, "The drilling results from Debarwa are very encouraging and they will undoubtedly increase the existing resources which should have a very positive influence on the scoping study that we plan to start next month."
A summary of significant assay results are as follows and see attached map for location (to see map please click on: http://media3.marketwire.com/docs/sgc225.pdf):
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From To Interval Gold Silver Copper Zinc
Hole ID metres metres metres g/t g/t % % Zone
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DEBD-092(ii) 47.95 84.70 36.75 1.12 341.0 4.82 0.04 Supergene
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Including 67.53 83.20 15.67 2.01 72.52 10.21 0.04 Supergene
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DEBD-093(ii) 53.50 77.50 24.00 0.34 6.00 1.13 0.02 Supergene
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DEBD-094(ii) 72.35 98.50 26.15 0.58 8.05 3.77 0.02 Supergene
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including 75.35 89.50 14.15 0.89 13.09 6.26 0.02 Supergene
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DEBD-095(ii) 72.88 80.50 7.62 0.78 12.97 4.62 0.05 Supergene
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DEBD-098 52.25 57.55 5.30 0.06 3.69 2.35 0.01 Supergene
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DEBD-099 43.00 45.80 2.80 4.06 142.30 0.02 0.03 Gold Oxide
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DEBD-100 102.84 104.84 2.00 1.38 16.27 0.59 2.97 Primary
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DEBD-100 116.40 118.90 2.50 3.19 31.52 0.32 2.91 Primary
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DEBD-103 84.75 87.75 3.00 1.63 44.07 0.88 8.38 Primary
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DEBD-104 69.50 72.50 3.00 0.13 5.00 0.04 1.33 Primary
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DEBD-108 161.30 162.30 1.00 2.23 17.00 0.22 0.90 Primary
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DEBD-109 81.00 86.00 5.00 2.69 43.80 2.79 2.78 Primary
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DEBD-110 153.10 154.60 1.50 0.57 15.00 1.40 1.34 Primary
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DEBD-111 106.05 119.05 13.00 2.03 20.31 0.81 6.37 Primary
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DEBD-111 113.55 117.55 4.00 2.72 25.25 1.09 9.33 Primary
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DEBD-111 133.25 138.20 4.95 0.36 13.60 1.13 0.17 Primary
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DEBD-112 133.34 144.50 11.16 2.48 43.53 1.15 2.82 Primary
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DEBD-113 56.80 61.30 4.50 0.93 5.00 0.09 0.21 Gold Oxide
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DEBD-113 67.85 74.55 6.70 2.63 49.21 13.42 0.90 Supergene
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DEBD-114 14.30 23.70 9.40 1.91 142.77 2.11 0.04 Supergene
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DEBD-115 43.00 48.50 5.50 0.83 8.82 1.77 0.38 Supergene
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DEBD-115 57.42 66.22 8.80 0.91 8.07 1.06 0.03 Supergene
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DEBD-118 110.50 113.50 3.00 1.21 10.50 0.21 0.19 Primary
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DEBD-118 115.00 118.00 3.00 0.61 24.50 0.32 5.16 Primary
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DEBD-119 111.10 119.50 8.40 1.44 23.74 0.49 2.24 Primary
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DEBD-120 59.10 62.10 3.00 0.17 5.00 0.04 1.79 Primary
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DEBD-120 80.52 86.50 5.98 1.30 15.28 0.01 0.05 Primary
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DEBD-121 43.00 52.25 9.25 3.00 49.24 0.02 0.01 Gold Oxide
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DEBD-121 55.25 62.75 7.50 0.20 6.20 3.33 0.02 Supergene
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DEBD-122 131.71 141.44 9.73 1.61 24.19 0.35 2.23 Primary
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DEBD-123 194.16 208.00 13.84 1.03 16.48 0.42 1.29 Primary
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DEBD-123 205.62 208.00 2.38 0.55 18.03 0.40 1.69 Primary
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(ii) previously reported results - see news release dated December 2, 2009
In the existing resource at Debarwa the copper supergene zone has an average grade of 5.36% copper using a 1% copper cut-off, and is estimated to contain 158 million pounds of copper in the Indicated category. The primary zone at Debarwa has not had significant delineation drilling in previous programs and is open for expansion at depth and along strike. The primary zone has an average grade of 2.53% copper with 3.23% zinc in the Indicated category using a 1% copper cut-off. (see the resource statement below).
DAERO PAULUS UPDATE:
The drill program at Daero Paulus copper target funded by Antofagasta Minerals S.A. is continuing and the current phase is expected to be completed in a few weeks. To date, approximately 2,000 metres in 6 drill holes have been completed and results are expected in 6 weeks.
NOTES:
1. A Quality Assurance/Quality Control program was part of the drilling program on the Debarwa deposit. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling.
2. Samples from the drilling were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia and also at ALS Chemex Laboratories in Romania.
3. True thickness is estimated at approximately 90% of the drill intervals reported in the table above.
4. The assay results from the Debarwa drilling have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Sunridge.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $6.5 million in cash. Sunridge 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 Don Halliday or Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company's filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
See the Technical Report titled Debarwa Project, Eritrea, Mineral Resource Estimate prepared by MSA Geoservices (Pty) Ltd. filed on SEDAR on March 4, 2008.
The January 21, 2008 MSA resource estimates for Debarwa are summarized as follows:
----------------------------------------------------------------------- ---- Debarwa - Indicated Resources --------------------------------------------------------------------------- Zone Cut Off K-tonnes Au g/t Ag g/t Cu% Zn% --------------------------------------------------------------------------- Oxide+Transition 0.5 g/t Au 2,442 1.71 13.79 0.12 0.09 --------------------------------------------------------------------------- Supergene 1% Cu 1,336 1.54 33.87 5.36 0.08 --------------------------------------------------------------------------- Primary 1% Cu 699 0.87 22.31 2.53 3.23 --------------------------------------------------------------------------- Totals 4,478 --------------------------------------------------------------------------- --------------------------------------------------------------------------- Debarwa - Inferred Resources --------------------------------------------------------------------------- Zone Cut Off K-tonnes Au g/t Ag g/t Cu% Zn% --------------------------------------------------------------------------- Oxide+Transition 0.5 g/t Au 113 0.97 8.55 0.08 0.04 --------------------------------------------------------------------------- Supergene 1% Cu 95 0.52 12.13 1.69 0.31 --------------------------------------------------------------------------- Primary 1% Cu 356 0.98 22.10 1.91 2.85 --------------------------------------------------------------------------- Totals 564 ---------------------------------------------------------------------------
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.
Contacts: Sunridge Gold Corp. Don Halliday Executive Vice President 604-899-1505 (direct) donh@sunridgegold.com Sunridge Gold Corp. Greg Davis VP Business Development 604-688-1263 (direct) greg@sunridgegold.com www.sunridgegold.com
SOURCE: Sunridge Gold Corp.
mailto:donh@sunridgegold.com mailto:greg@sunridgegold.com http://www.sunridgegold.com
