VANCOUVER, BRITISH COLUMBIA, Dec 04, 2007 (MARKET WIRE via COMTEX News Network) -- Sunridge Gold Corp. (TSX VENTURE: SGC) announces an initial NI 43-101 compliant independent resource estimate for the Emba Derho zinc-copper-gold volcanogenic massive sulphide (VMS) deposit, on its 100% owned Asmara Project, Eritrea. This estimate is almost entirely in the "Indicated" category, with the total combined Indicated resources in the primary zinc and copper zones containing 1.7 billion pounds of zinc, 735 million pounds of copper, 402,000 ounces of gold and 15 million ounces of silver. The deposit is still open, particularly to the northwest. The estimate meets the Company's stated objectives in terms of size, average grade and the potential for a large open-pit operation. Emba Derho is located approximately 12 kilometres northwest of the capital city of Asmara and has excellent infrastructure including paved roads, power, water, an international airport and an international sea port only 120 kilometres away by paved road.
Michael Hopley, President and CEO of Sunridge Gold states, "We are very pleased with the rapid progress of this project, from the discovery of Emba Derho in January 2006 to the completion of this NI43-101 compliant Indicated resource today. The fast tracking of the project is due in large part to strong support from the Ministry of Energy and Mines of Eritrea in an area with some of the best infrastructure associated with any development project in the world today."
HIGHLIGHTS
- The Emba Derho deposit hosts 2 distinct primary base metal zones which have resources reported separately:
1. Zinc Rich Zone - The currently defined Indicated resource in the primary zinc-rich zone is 27.9 million tonnes grading 2.52% zinc, 0.46% copper, 0.36 g/t gold and 11.51 g/t silver, using a cut-off of 1.0% zinc.
2. Copper Rich Zone - The currently defined Indicated resource in the primary copper-rich zone is 21.2 million tonnes grading 0.96% copper, 0.36% zinc, 0.12 g/t gold and 6.74 g/t silver, using a cut-off of 0.5% copper.
- This initial resource estimate is almost entirely in the "Indicated" category.
- Ongoing drilling at Emba Derho outside the main zone is expected to add significantly to this resource.
- Metallurgical test work on material from Emba Derho has shown that the primary zinc-rich and copper-rich sulphide material responds well to flotation with recoveries of zinc and copper greater than 90% and the final zinc concentrate exceeding 60% zinc and the final copper concentrate greater than 30% copper.
- Sunridge now has four mineral deposits on the Asmara Project with NI 43-101 reported resources; these are Debarwa, Adi Nefas, Gupo Gold and now Emba Derho.
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