Sunridge Gold Corp

Published : December 01st, 2010

Provides Update on Debarwa Feasibility Study

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Precious Metals |

 

Sunridge Gold provides update on debarwa feasibility study

 

 

 

 

 

Sunridge Gold Corp. (TSX-V:SGC - News) is pleased to provide an update on the commencement of feasibility work at the high grade Debarwa copper-gold-zinc VMS Deposit and plans for exploration and definition drilling on other targets on the Asmara Project, Eritrea.

DEBARWA FEASIBILITY STUDY:

As announced on October 21, 2010 Sunridge has appointed the engineering company Senet (Pty) Ltd to complete a full feasibility study on the Debarwa deposit.

As part of the ongoing feasibility study work for the Debarwa deposit a 4,000 meter diamond drill program has commenced to define in greater detail some parts of the deposit. The results of this drilling will be used for an updated resource estimate to be completed in the first quarter of 2011 as part of the feasibility study. Two additional drills are scheduled to arrive at Debarwa within the next ten days and will be used for gathering geotechnical and hydrological study data for the feasibility study before moving to other targets for exploration drilling.

The initial Debarwa feasibility study meeting was held in Asmara last week with representatives from the various companies involved in the study including Senet, AMC Consultants, Knight Piesold and Blue Coast Metallurgy to discuss many aspects of the feasibility study including tailings facility design, water and hydrological studies, metallurgy, geological modeling and resource estimates as well as ongoing baseline environmental studies and social engagement programs.

The feasibility study will consider a standalone process plant at Debarwa using flotation for the recovery of the base and precious metals and will study various mining options over a forecast life of mine of approximately 9 years. The study will also investigate the option of mining and direct shipping a high grade portion (greater than 15% copper) of the enriched copper supergene zone to generate early cash flow and enhance the economics of the deposit. The completion of this report is expected in the third quarter of 2011.

EXPLORATION PROGRAMS:

Following completion of the drill program at Debarwa, two drill rigs will be mobilized to the Adi Nefas, Gupo Gold and Medrizien Projects. Drilling at Adi Nefas and Gupo will focus on both resource definition and expansion while drilling at Medrizien will test a large gold bearing zone with the potential for a new discovery.

The gold mineralization in the Medrizien Gold prospect varies in thickness from a few meters up to 25 meters over a 3 1/2 kilometer strike length and occurs in a stockwork of quartz veins associated with sulphides. A total of 65 rock grab samples were taken over the length of the prospect of which 57 samples were from the surface showing of mineralized quartz veins and altered halo of volcanic rocks. The results showed 10 samples with assays over 1 g/t gold with these sample values averaging 12.13 g/t gold. The 8 rock samples taken from the old underground workings range from 0.14 g/t up to a value of 319 g/t with an average of 51.32 g/t gold.

Michael J. Hopley the President and Chief Executive Officer of Sunridge is the Qualified Person for Sunridge and he is the person responsible for preparation of the technical information contained in this news release.

ABOUT SUNRIDGE:

Sunridge is a mineral exploration and development company focused on the exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar. Sunridge has 117 million shares outstanding with approximately $28 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC.

For additional information on the Company and its projects please view the slide show on our website at www.sunridgegold.com or call Don Halliday or Greg Davis at the numbers listed below.

SUNRIDGE GOLD CORP.

Michael Hopley, President and Chief Executive Officer

This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact:


 
Contacts:
Sunridge Gold Corp.
Don Halliday
Executive Vice President
604-899-1505 (direct)
donh@sunridgegold.com
Sunridge Gold Corp.
Greg Davis
VP Business Development
604-688-1263 (direct)
greg@sunridgegold.com
www.sunridgegold.com

 

 

Sunridge Gold Corp

PRODUCER
CODE : SGC.V
ISIN : CA86769Q1028
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Sunridge Gold is a gold producing company based in Canada.

Sunridge Gold produces gold, copper, silver and zinc in Eritrea, develops gold and silver in Eritrea.

Its main asset in production is ASMARA in Eritrea, its main asset in development is DEBARWA in Eritrea and its main exploration property is BESAKOA in Madagascar.

Sunridge Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 18.9 millions as of today (US$ 15.1 millions, € 13.2 millions).

Its stock quote reached its highest recent level on November 07, 2003 at CA$ 6.50, and its lowest recent point on March 20, 2020 at CA$ 0.03.

Sunridge Gold has 209 950 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Project news of Sunridge Gold Corp
2/4/2014(Asmara)Signs Agreement with Enamco for Asmara Copper-Zinc-Gold Proj...
6/29/2011(Asmara)Restarts Exploration Program on Asmara Project, Eritrea
6/23/2011(Besakoa)Starts Drilling at the Besakoa Copper-Zinc-Gold Project, Mad...
3/17/2011(Debarwa)Extends Depth of the Primary Copper-Zinc-Gold Mineralization...
3/1/2011(Asmara)Receives Positive Metal Recovery Results from the Emba Derho...
2/21/2011(Asmara)Starts New Drill Program at Emba Derho Copper-Zinc-Gold Depo...
2/7/2011(Asmara)Selects Snowden and GBM to Conduct Prefeasibility Study on t...
1/6/2011(Asmara)Intercepts Strong VMS Mineralization at the Asmara Project, ...
12/1/2010(Debarwa)Provides Update on Debarwa Feasibility Study
1/25/2010(Asmara)And Antofagasta Minerals Commence Drilling At Daero Paulos, ...
1/7/2010(Asmara)Increases Size Of Asmara Project, Eritrea By 60%
Corporate news of Sunridge Gold Corp
5/18/2016Sunridge's Transfer Agent Closes Shareholder Register
5/16/2016Sunridge First Distribution to be $0.36 per Share
5/2/2016Sunridge Sets Record Date For Return Of Capital Distribution...
4/26/2016Sunridge Closes Transaction With SRBM
4/25/2016Sunridge Closing Date April 26, 2016
4/14/2016Sunridge Receives Favourable Decision By The Federal Court O...
4/13/2016Sunridge Confirms Closing Date with SRBM
3/22/2016Sunridge Provides Update on Expected Closing Date for Transa...
1/22/2016Sunridge Receives Shareholder and Warrantholder Approval to ...
11/6/2015IIROC Trading Resumption - SGC, SCG.WT
11/6/2015Sunridge Agrees To Sell Its 60% Interest in Asmara Mining Sh...
11/6/2015IIROC Trading Halt - SGC, SGC.WT
10/19/2015Sunridge Gold Announces Receipt Of Mining Licenses For Asmar...
9/25/2015Sunridge Gold's Michael Hopley Interviewed by The Gold Repor...
9/11/2015IIROC Trading Resumption - SGC, SGC.WT
9/11/2015Sunridge Gold Announces Mining Agreement Signed By Asmara Mi...
9/11/2015IIROC Trading Halt - SGC.WT
9/11/2015IIROC Trading Halt - SGC
7/30/2015Sunridge Signs Agreement to Purchase Net Profits Interest on...
4/15/2015Sunridge Provides Update on the Asmara Project, Eritrea
2/3/2015Sunridge Announces US$32 Million 2015 Budget & Program for A...
11/5/2014Field Work Underway on the Asmara Project, Eritrea
10/9/2014Sunridge Announces the Formation of the Asmara Mining Share ...
8/28/2014Sunridge Gold Corp Retains Renmark for Investor Relations Se...
7/17/2014Sunridge Gold on Track to Start Production in 2015 on the As...
6/27/2014IIROC Trading Resumption - SGC; SGC.WT
6/27/2014Sunridge Gold Signs Shareholder’s Agreement with ENAMCO for ...
6/27/2014IIROC Trading Halt - SGC
4/30/2014Sunridge Gold Files Amended Ni 43-101 Technical Report on th...
3/27/2014Sunridge Gold Increases Post-Tax Value For The Asmara Projec...
3/27/2014Sunridge Gold Increases Post-Tax Value for the Asmara Projec...
3/12/2014Sunridge Gold Grants Options
3/12/2014Sunridge Gold Grants Options
1/15/2013Up Close & Personal With Caza Oil & Gas, Tethys Petroleum & ...
6/15/2011(Asmara)Announces Drill Results from Emba Derho Deposit, Asmara Proj...
6/6/2011(Asmara)Announces Drill Results from Gupo Gold Deposit, Asmara Proje...
5/15/2011Announces New Analyst Coverage
4/28/2011(Debarwa)Announces Drill Results from the Debarwa Deposit, Asmara Pro...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (SGC.V)FRANKFURT (SY3.F)
0.090+0.00%0.252-0.79%
TSX-V
CA$ 0.090
11/22 09:30 -
0%
Prev close Open
0.090 0.090
Low High
0.090 0.090
Year l/h YTD var.
0.065 -  0.240 -59.09%
52 week l/h 52 week var.
0.065 -  0.240 -48.57%
Volume 1 month var.
1,000 28.57%
24hGold TrendPower© : 34
Produces Copper - Gold - Silver - Zinc
Develops
Explores for Copper - Gold - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 7/9/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-58.14%0.250.07
2021207.14%0.220.07
20207.69%0.130.03
2019-58.06%0.270.05
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.45+0.68%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 5.34-4.81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.84-1.18%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.09+5.88%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.96-10.50%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.16-0.85%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.20+8.33%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.33-2.94%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.41+2.99%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 68.30+0.74%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :