The objective of this recently completed thirteen hole drilling program is to better define and possibly extend the depth and strike extent of the mineralized zone at Adi Rassi. The results of these first three drill holes certainly verify the strong copper and gold mineralization over long intervals in the northern part of the zone.

Further drilling results will be issued when received over the next few weeks.

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) mineralization and is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. (see maps and cross-section 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      

Interval

metres
      Gold g/t       Copper %
AR-010-D       -60/90       6.00       63.72       57.72       0.19       1.44*
Incl 13.50 51.72 38.22 0.27 2.03
 
AR-011-D -50/90 10.10 93.00 82.90 0.79** 0.28*
and 40.70 58.31 17.61 2.86** 0.41
 
AR-012-D -60/90 153.5 246.00 92.50 0.51 0.66*
Incl 157.00 184.00 27.00 0.47 1.41
and 218.50 244.00 25.50 1.01 0.39
 

* Average of entire assayed interval

** Includes a single assay of 24.89 g/t gold
 
 

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
Incl 238 322 84 1.32 0.84
Incl 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
 

NOTES:

1. All drill holes reported are diamond drill holes.

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