Sunridge Gold Corp. (the “Company” or “Sunridge”) (SGC:TSX.V/SGCNF:OTCQX) is pleased to report the completion of the reverse-circulation drill program as well as encouraging initial assay results from channel samples from the Kodadu volcanogenic-massive sulphide (VMS) and gold shear zone targets located on the Company’s Asmara Project in Eritrea, East Africa.
A reverse-circulation drill program announced on January 23 at the Kodadu VMS prospect has now been completed and assays are expected next month. A total of 22 drill holes targeting the oxide gold cap of the Kodadu VMS mineral occurrence and a nearby related gold mineralized shear zone were drilled (see map). The goal of the program is to rapidly define a resource that could be mined as feed to a central gold plant near the large Emba Derho deposit.
Sunridge has recently received assay results from 14 channels cut across the surface of the Kodadu VMS gossan intermittently over a 1.2 kilometre strike length as well as over part of the gold mineralized shear zone (see map). The results are summarized as follows:
|Channel||Distance in meters||Gold assays grams per tonne|
|KD-CH-012||No significant values|
|KD-CH-013||No significant values|
|KD-CH-021||No significant values|
|KD-CH-022||No significant values|
|KD-CH-023||No significant values|
The Kodadu VMS target is located approximately 25 kilometers south of the large Emba Derho copper-zinc-gold-silver deposit. Several gossans have been identified by surface mapping that trend north-northeast for over 1.2 kilometre strike length and they have an average width of about 10 meters. Typically these gossans have depths from surface of 30 to 35 meters. In 2009 Sunridge completed a channel sampling program (channels 1 to 9) in which 87 samples were taken. This program returned 28 gold values of over 0.2g/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 (see map).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV