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Re: Press Release - Wednesday, January 06, 2010
Sunridge Gold Increases Size Of Asmara Project, Eritrea By 60%
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Sunridge Gold Corp. (SGC/TSX.V) ("Sunridge") is pleased to announce
that the Eritrean government has granted Sunridge extensions to two of
its exploration licenses that make up the Asmara Project, Eritrea.
These extensions have increased the overall size of the Asmara Project
by approximately sixty percent, from 665 square kilometres to 1062.5
square kilometers.
As can be seen on the map attached to this release the extensions
expand the Sunridge exploration licenses five kilometres to the west
and five kilometres to the east which covers areas where Sunridge staff
believes are continuations of both volcanogenic-massive-sulphide (VMS)
and shear zone gold mineralized trends.
It is estimated that approximately 153 square kilometers of the new
ground are within the area of interest of the Exploration Areas of the
October 2, 2009 exploration and funding agreement with Antofagasta
Minerals S.A. ("Antofagasta"). Antofagasta can fund US$10,000,000 of
exploration work over a 5-year period to earn a 60% interest in the
Exploration Areas of the Asmara Project. The Antofagasta area of
interest excludes the current existing Development Areas including the
Emba Derho, Debarwa, Adi Nefas and Gupo Gold deposits.
Reconnaissance work on these new extensions will commence later this
month.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on
the acquisition, exploration, discovery and development of base and
precious metal projects on the Asmara Project in Eritrea and
exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and
approximately $8.0 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
or call Don Halliday or Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email:
Tel: 604-899-1505 (direct)
Greg Davis, VP Business Development
Email:
Tel: 604-688-1263 (direct)
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 release.
This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements
that are not historical facts and include resource estimates. The
forward-looking statements in this press release are subject to various
risks, uncertainties and other factors that could cause the Company's
actual results or achievements to differ materially from those
expressed in or implied by forward looking statements. These risks,
uncertainties and other factors include, without limitation risks
related to fluctuations in gold prices; uncertainties related to
raising sufficient financing to fund the planned work in a timely
manner and on acceptable terms; changes in planned work resulting from
weather, logistical, technical or other factors; the possibility that
results of work will not fulfill expectations and realize the perceived
potential of the Company's properties; uncertainties involved in the
interpretation of drilling results and other tests and the estimation
of gold resources; the possibility that required permits may not be
obtained on a timely manner or at all; the possibility that capital and
operating costs may be higher than currently estimated and may preclude
commercial development or render operations uneconomic; the possibility
that the estimated recovery rates may not be achieved; risk of
accidents, equipment breakdowns and labor disputes or other
unanticipated difficulties or interruptions; the possibility of cost
overruns or unanticipated expenses in the work program; and other
factors identified in the Company's filings with Canadian securities
regulatory authorities. Forward-looking statements are based on the
beliefs, opinions and expectations of the Company's management at the
time they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or expectations,
or other circumstances, should change.
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Copyright (c) 2010 SUNRIDGE GOLD CORP. (TSXV-SGC) All rights reserved.
For more information visit our website at http://www.sunridgegold.com/
or send mailto:info@sunridgegold.com
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Sunridge Gold Corp
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PRODUCTEUR |
CODE : SGC.V |
ISIN : CA86769Q1028 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Sunridge Gold est une société de production minière d'or basée au Canada. Sunridge Gold est productrice d'or, d'argent, de cuivre et de zinc en Erythree, en développement de projets d'argent et d'or en Erythree. Son principal projet en production est ASMARA en Erythree, son principal projet en développement est DEBARWA en Erythree et son principal projet en exploration est BESAKOA à Madagascar. Sunridge Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 4,2 millions CA$ (3,1 millions US$, 2,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 07 novembre 2003 à 6,50 CA$, et son plus bas niveau récent le 16 septembre 2024 à 0,02 CA$. Sunridge Gold possède 209 950 000 actions en circulation. |