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Sunridge Gold Completes Initial Resource Estimate For Adi Rassi Copper-Gold Deposit, Asmara Project, Eritrea

Stocks in this article: SGC

Mineralization at Adi Rassi is associated with a major shear zone that trends northeast for over 3 kilometres and dips steeply to the west. The copper and gold mineralization is hosted in strongly foliated and distorted altered mafic volcanic tuffs. Mineralization has now been defined for over 450 metres north-northwest oriented strike length, 40 to 100 metres in width and to a vertical depth of 360 metres. (see map at the end of this news release). The mineralized zone dips steeply to the west and is off-set by an east-west oriented fault. The zone remains open in depth, to the north and possibly to the south; additional exploration potential exists along the 3 kilometre length of the host shear zone. A program of expansion drilling, trenching and local mapping and sampling is planned for 2013.

Methodology

The mineralization on which the Adi Rassi Inferred mineral resource estimate is based extends over a strike length of 400 metres and a width of up to 80 metres and has been drilled to a maximum vertical depth from surface of approximately 360 metres. The Inferred mineral resource has been estimated using 26 exploration drill holes consisting of 22 diamond drill core holes by Sunridge and 4 diamond drill holes from a previous operator. Assays of split core samples have been used in the estimation of mineral resources.

Sectional interpretations of the mineralized zone were completed on east-west sections spaced between 20 m and 50 m apart using a nominal 0.1% Cu threshold. The interpretations were linked together to form a wireframe representing the mineralization. The wireframe interpretations formed the basis for the construction of a block model as well as selecting composites for geostatistical analysis and grade estimation. A block model was constructed in MineSight mining software with cell dimensions of 5 metres (X) x 5 metres (Y) x 5 metres (Z).

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