FSC / Press Release
Sunridge Gold Begins Drilling Gold Cap at Kodadu, Asmara Project, Eritrea
Vancouver, British Columbia CANADA, January 23, 2013 /FSC/ - Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX)(the "Company" or "Sunridge")is pleased to announce that a reverse-circulation drill program has commenced on the Kodadu volcanogenic-massive sulphide (VMS) target located on the Company's Asmara Project in Eritrea, East Africa.
The program consisting of approximately 20 drill holes is specifically targeting the oxide gold cap within the upper oxidized zones (known as gossans) of the Kodadu VMS mineral occurrence. The goal of the program is to rapidly define a resource that could be mined as feed to a central gold plant near the large Emba Derho deposit.
"Although Sunridge's main focus has recently been completing the Asmara Project feasibility study and moving the four established deposits on the Asmara Project toward production, it is important to realize that the area remains highly prospective for new gold and base metal deposits" states Michael Hopley, Sunridge's President and CEO.
The Kodadu VMS target is located approximately 25 kilometres south of the Emba Derho copper-zinc-gold-silver deposit. Several gossans trend north-northeast for over a 1.2 kilometre strike length with an average width of 10 metres and about 35 metres deep. A recent (2009) Sunridge trenching program in which 87 samples were taken, returned 28 gold values of over 0.2g/t and the best values were 10.67g/t over 14.7m, 2.3g/t over 8m and 1.79 g/t over 13.3m.
Gold mineralization that has been identified in a one kilometre shear zone running parallel and about 100 metres west of the Kodadu gossans will also be drill tested. Geological mapping has shown the zone to be approximately 30 metres wide and historic gold values from trenches sampled by a previous operator are reported as 3.85g/t over 50m; 2.05g/t over 50m; and 11.87g/t over 8m.
Qualified Person
Mr. Michael J. Hopley is the Qualified Person who approved the technical information contained in this news release.
About Sunridge:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal deposits on the Asmara Project in Eritrea and exploration properties in Madagascar. Sunridge currently has approximately 175 million shares outstanding and 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 Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
"Michael Hopley"
Michael Hopley, President and Chief Executive Officer
For further information contact:
Greg Davis, VP Business Development
Email: [email protected]
Tel: 604-688-1263 (direct)
