Sunridge Gold intersects 18.05 g/t gold over 4 metres at Gupo deposit in Eritrea

Sunridge Gold (CVE:SGC) said Thursday it intersected up to 18.05 grams per tonne (g/t) gold on the Gupo deposit of its Asmara gold project in Eritrea.
The current and ongoing drill program at Asmara consists of a total of 7,000 metres over 90 holes, and is intended to expand and upgrade the current inferred resource.
Highlights of assays from the first 16 holes included 12 metres grading 6.56 g/t gold, including four metres at 18.05 g/t gold, in hole GG-086-R.
Hole GG-080-R also found 27 metres grading 2.38 g/t gold, while hole GG-087-R intersected 14 metres at 2.54 g/t gold.
These results have extended the gold mineralization over a strike length of about 1.6 kilometres, the company said. The resource is close to the surface, and extends to at least 80 metres in vertical depth, remaining open.
Sunridge said the results will be included in a prefeasibility study (PFS) being compiled by Snowden Mining Industry Consultants and GBM Minerals Engineering.
The PFS will cover the three northern deposits on the property, including the Emba Derho copper-zinc-gold deposit, the Adi Nefas zinc-gold-copper deposit, and the Gupo gold deposit, and is expected for completion in late March 2012.
Other notable results from the first set of returned assays include hole GG-088-R, which intersected 12 metres averaging 6.36 g/t gold, and hole GG-092-R, which returned 2.35 g/t gold over 15 metres.
The current resource estimate for Asmara stands at 1.97 million tonnes, at an average grade of 2.99 g/t gold, for a total of 189,000 ounces of gold in the inferred resource category.
In addition to its properties in Eritrea, Sunridge also holds exploration properties in Madagascar.
On the TSX-Venture Exchange, the Vancouver, B.C.-based company's share price rose 2.56 percent to $0.40, as of 1:35 pm EDT.