Tuesday, 7 February 2006 ASX Companies Announcements Release via ASX Online NEW VMS DISCOVERY AT EMBA DERHO PROSPECT, ASMARA PROJECT, ERITREA Joint Venture partner Sunridge Gold Corp. (SGC/TSX.V) has reported assay results from the first ten drill holes of an initial thirteen hole diamond drill program at the Emba Derho VMS (Volcanogenic Massive Sulfide) prospect situated approximately 10km north west of the capital Asmara and within 6km of the, Adi Nefas VMS deposit. HIGHLIGHTS ED-003-D – 6.0 metres grading 9.21 g/t Au ED-005-D – 22.50 metres grading 2.22 g/t Au and 13.25 metres grading 1.26% Cu ED-007-D – 34.0 metres grading 5.45% Zn ED-008-D – 11.5 metres grading 5.6% Zn and 20.45 metres grading 1.3% Cu ED-009-D– 13.25 metres grading 1.07% Cu ED-010-D – 25.80 metres grading 5.51% Zn These initial results cover 160 metres of strike to 200 metres vertical depth and confirm a previously unknown oxidized gold zone at surface, underlain by copper and zinc mineralisation similar to the other VMS discoveries within the Asmara Project. The overall grade of this discovery is lower than that reported from Adi Nefas and Debarwa but the outcrop suggests there is potentially a much larger VMS deposit. The surface expression of the Emba Derho gossan zone extends for over 700 metres and is the largest VMS discovery within the Asmara Project. Emba Derho is being recognized as a possible bulk-mineable VMS-style target. The Emba Derho is the fourth significant zones of mineralisation within the Asmara Project along with Debarwa, Adi Nefas, and Gupo Gold. ACN: 061 104 158 288 Stirling Street, Perth Western Australia 6000 PO Box 8260 Perth Business Centre Western Australia 6849 Telephone (+61 8) 9227 3260 Facsimile (+61 8) 9227 3271 Email: [email protected] Web: ww.subsahara.com.au Sub-Sahara Resources NL
2 Results from the remaining three holes from the Emba Derho drilling are expected soon and follow-up drilling will start later this month. Table 1: Significant Drill Results – Emba Derho Drill hole # From metres To metres Length metres Gold (Au) g/t Silver (Ag) g/t Copper (Cu) % Zinc (Zn) % Zone ED-001-D 49.00 56.80 7.80 0.05 1.06 1.33 0.20 SG ED-002-D 60.00 63.65 3.65 0.11 0 0.89 0.54 P And 69.25 71.40 2.15 0.13 0 1.10 0.29 P ED-003-D 12.00 18.00 6.00 9.21 0 0.12 0.02 O ED-004-D 144.65 157.40 12.75 0.18 3.75 2.09 0.23 P ED-005-D 51.00 73.50 22.50 2.22 50.20 0.32 0.89 O+SG And 94.20 96.50 2.30 0.20 9.50 1.38 2.32 P And 114.40 118.55 4.15 0.11 4.34 0.94 0.62 P And 128.85 134.55 5.70 0.12 5.09 0.82 0.54 P And 135.65 148.90 13.25 0.12 2.19 1.26 0.81 P And 180.85 182.95 2.10 0.13 6.19 2.84 0.13 P ED-006-D 34.00 37.00 3.00 1.15 5.50 0.02 0.03 O ED-007-D 18.00 21.00 3.00 2.87 6.50 0.01 0.01 O And 45.60 51.00 5.40 5.09 12.04 0 0.01 O And 63.00 97.00 34.00 0.24 14.02 0.25 5.45 P ED-008-D 175.30 186.80 11.50 0.09 2.30 0.15 5.58 P And 191.70 196.65 4.95 0.51 14.63 0.33 2.70 P And 198.90 201.00 2.10 0.46 11.43 0.52 4.41 P And 202.85 206.10 3.25 0.16 0 0.35 4.52 P And 221.05 241.50 20.45 0.07 0 1.27 0.09 P And 248.25 255.75 7.70 0.17 6.16 3.17 0.13 P ED-009-D 35.40 48.65 13.25 0.16 0 1.07 0.06 SG And 62.80 65.35 2.55 0.25 0 1.16 2.49 SG And 82.25 84.90 2.65 0.20 0 1.24 0.25 P And 100.50 104.50 4.00 0.46 2.75 1.51 1.54 P ED-010-D 31.50 37.50 6.0 1.09 0 0.01 0.01 0 And 116.10 123.40 7.30 0.62 31.80 0.20 6.40 P And 134.70 160.50 25.80 0.40 8.67 0.20 5.51 P And 173.20 181.00 7.50 0.13 0 1.44 0.36 P Notes: 1. Drill intercept lengths only are reported in the tabulations; it is estimated that true width will be approximately 80% of the reported drill intercept length. 2. Hole designation ending in “D” are all drilled by diamond drilling methods only. 3. Zones of mineralisation in the tabulations are as follows: O = Oxide, SG=Supergene, P=Primary zones of mineralisation. 4. A Quality Assurance/Quality Control program is part of the drilling program on the Asmara Project. This program includes chain of custody protocol as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. 5. Samples are prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth Western Australia.
3 The gossanous surface expression of the Emba Derho VMS mineralisation is over 700 metres in length and forms three tight fold structures that plunge to the north and north-east. The massive sulphide mineralisation is composed of a series of stacked and folded lenses ranging in thickness from 10 to 30 metres and these lenses are cut by a series of narrow (mostly between 1 to 5 metres) un-mineralised quartz porphyry dikes. These drill results suggest that the mineralised structures plunge and thicken to the north and north-east towards a strong recently defined 800 metre long gravity anomaly and this anomaly will be fully tested during the next phase of drilling scheduled to start later this month. For and on behalf of Sub-Sahara Resources NL M.R. Griffiths CEO - Director For further information please e-mail Michael Griffiths ([email protected]) or contact by phone on 61-8-9227 3260 # Reported in accordance with the Aus. IMM “Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves” and is based on information complied by Mr M.R. Griffiths, a competent person as defined by the Code and a Member of Australasian Institute of Mining & Metallurgy. Mr Griffiths is employed by Sub-Sahara Resources NL and has consented to the information in the form and context in which it appears.
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