Kodadu VMS Exploration Project
Sunridge is planning to start a reverse-circulation drilling program this month to better define the oxide gold cap within the gossans defined at the Kodadu VMS mineral occurrence. The goal of this work is to rapidly define a resource that could potentially be mined as feed to a gold plant at Emba Derho.
The Kodadu VMS target is located approximately 25 kilometres south of the Emba Derho deposit. Several gossans trend north-northeast for over a 1.2 kilometre strike length with an average width of 10 metres and about 35 metres deep. A recent (2009) Sunridge trenching program in which 87 samples were taken, returned 28 gold values of over 0.2 g/t and the best values were 10.67g/t over 14.7m, 2.3g/t over 8m and 1.79 g/t over 13.3m.
Also to be drill tested is gold mineralization that has been identified in a one kilometre shear zone running parallel and about 100 metres west of the Kodadu gossans. Geological mapping has shown the zone to be approximately 30 metres wide and historic gold values from trenches sampled by a previous operator are reported as 3.85g/t over 50 metres; 2.05g/t over 50 metres; and 11.87g/t over 8 metres.Additional Exploration Work The Company continues to systematically explore the Asmara Project for new VMS and gold targets. Qualified Person Mr. Michael J. Hopley is the Qualified Person who approved the technical information contained in this news release. Corporate The Company will be attending the Vancouver Resource Investment Conference, the Mining Indaba in Cape Town, South Africa and the PDAC in Toronto within the first quarter of 2013. Other Eritrea Mining Events
- Nevsun Resources has now successfully operated the Bisha Mine in Eritrea for almost 2 years and has demonstrated high returns. The mine plans to begin shipping copper concentrate through the port of Massawa in 2013.
- Chalice Gold Mines has completed the sale of the Zara gold project in Eritrea to the Shanghai Construction Group Co. Ltd.