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Sunridge Gold Drills 56 Metres Of 1.0 G/t Gold & 0.8% Copper At Adi Rassi Copper-Gold Project, Asmara Project, Eritrea

Copper 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. This 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. (see map at the end of this news release).

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.

Summary of new drill results is as follows:

Drill hole   Dip/

Azimuth

  From metres   To metres  

Intervalmetres

  Gold g/t   Copper %
AR-013-D   -75/90   235.20   291.37   56.17   1.01   0.80
and 305.87 310.37 4.50 0.08 0.80
AR-014-D -60/90 25.50 48.00 22.50 0.18 0.50
and 69.00 118.65 49.65 0.47 0.31
AR-015-D -60/90 154.00 231.50 77.50 0.12 0.46
AR-016-D -75/90 232.88 298.14 74.26 0.34 0.52
and 336.33 364.71 28.38 0.30 0.33
*AR-017-D -50/90 5.75 43.95 38.20 0.50 1.50
AR-018-D -60/90 106.70 205.70 99.00 0.43 0.54
AR-019-D -45/90 16.00 40.00 24.00 0.02 0.65
AR-020-D -60/90 165.00 207.00 42.00 0.03 0.58
AR-021-D -60/90 68.60 73.50 4.90 0.02 0.17
AR-022-D -60/90 No significant Assay results
 

* interval includes 1.5m not sampled and assigned 0.0 grades

Summary of the results from Sunridge drilling in 2010:

Drill hole   Dip/

Azimuth

  From metres   To metres  

Interval metres

  Gold g/t  

Copper %

AR-001-D   -50/270   Abandoned        
 
AR-002-D - 60/270 127 337 210 0.84 0.49
Including 238 322 84 1.32 0.84
Including 298 321 23 1.95 1.39
 
AR-003-D - 50/270 173 196 23 0.33 0.41
and 237 262 25 0.75 0.54
 
AR-004-D - 55/90 35 113 78 0.22 1.00
 

AR-005-D to

AR-009-D

No significant results
 

Other 2012 Exploration Targets on the Asmara Project

Other 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.

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