Sunridge Gold Corp. (CVE:SGC)(OTCQX:SGCNF) Wednesday reported final assays results for the 2012 exploration diamond drill program at the Adi Rassi copper-gold prospect, part of the Asmara Project in Eritrea.
The company said that the results
continued to show wide copper and gold intercepts and confirms
management's belief that Adi Rassi is a new large copper-gold discovery
that has the potential to become Sunridge's fifth deposit on the Asmara
"The 2012 drill program has successfully better defined
and expanded the copper and gold mineralized zone and it is now clear
that Adi Rassi has the potential of becoming much larger than the nearby
Debarwa deposit" Sunridge's president and CEO Michael Hopley said.
test work is underway to determine if the copper and gold recovery
methodology is compatible with the process to be used at the nearby
Debarwa copper-gold deposit. The next step is to have an independent
initial resource estimate completed".
The copper-gold mineralized
zone has now been defined over about 400 metres strike length, 40 to
100 metres in width and to a vertical depth of 330 metres. The zone
remains open and Sunridge is now planning the next phase of drilling and
completion of an initial resource estimate on the Adi Rassi deposit.
the highlights, hole AR-013-D encountered 0.80% copper and 1.01 grams
per tonne (g/t) gold over 56.17 metres; AR-014-D drilled for 49.65
metres averaging 0.31% copper and 0.47 g/t gold; hole AR-016-D
discovered 0.52% copper and 0.34 g/t gold over 74.26 metres; AR-017-D
drilled 38.20 metres averaging 1.50% copper and 0.50 g/t gold and hole
AR-018-D encountered 0.54% copper and 0.43 g/t gold over 99 metres.
and gold mineralization at Adi Rassi is associated with quartz veins
and breccia zones along a major shear zone that trends northeast for
over 3 kilometres and dips steeply to the west.
mineralization is considered to be remobilized from a distal source,
possibly an as yet unidentified buried volcanogenic massive sulphide
(VMS) deposit and is mainly hosted in strongly foliated and distorted
altered mafic volcanic tuff and flows.
The Adi Rassi prospect is
located less than 10 kilometres from Sunridge's Debarwa copper-zinc-gold
VMS deposit where a positive feasibility study was completed and
announced May 14, 2012. This proximity could have positive implications
for any mining opportunities in the southern part of the Asmara Project.
gold and VMS targets drilled as part of the 2012 exploration program
have yet to return any significant results although further assays are
still expected. Sunridge will now focus its efforts on moving the four
established deposits on the Asmara project to the completion of a final
feasibility study in Q1 2013 and developing a new resource at Adi Rassi.
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.