Sunridge Gold Selects Wardrop for Scoping Study at Emba Derho Project, Eritrea
Posted on: Tuesday, 8 April 2008, 09:03 CDT
Sunridge Gold Corp. (TSX VENTURE: SGC) has commissioned Wardrop Engineering Inc.'s ("Wardrop") U.K. Operations office to complete a preliminary assessment (scoping study) of the Company's large Emba Derho zinc-copper-gold-silver VMS project in Eritrea. This study will investigate all aspects of the possible development of Emba Derho including updating the mineral resources, the open-pit design, determining the optimum mining rate, a review of metallurgical studies and the design of the processing plant, the selection of equipment and manpower needs, estimates of capital and operating costs, financial modeling and risk analysis. The study will, if appropriate, give an economic justification to proceed to a pre-feasibility study or directly to a full feasibility study and will provide a scope of work, schedule, and cost estimate for the pre-feasibility or feasibility study. Wardrop is set to begin work on the study immediately and a final report is expected by late August 2008.
The study will commence by updating the resource estimate at Emba Derho as ongoing exploration drilling has significantly expanded the footprint of the deposit since the initial NI 43-101 resource estimate was completed in 2007 (see Sunridge Gold news release NR2008-01 dated January 14, 2008). The current estimated Indicated resources at Emba Derho contain 1.7 billion pounds of zinc, 735 million pounds of copper, 402,000 ounces of gold and 15 million ounces of silver.
"Sunridge is committed to fast-tracking the Emba Derho Project through development and towards production. Teaming up with an internationally recognized firm like Wardrop, who have the capability of taking the project through preliminary assessment and into feasibility study and possibly construction, is an important step for Sunridge," states Sunridge President and CEO Michael Hopley.
Summary of Indicated Mineral Resources at Emba Derho (only includes drilling completed prior to August 2007) ------------------------------------------------------------------------ Average Average Average Average Cut-off Million Grade Grade Grade Grade Zone grade tonnes Zn% Cu% Au g/t Ag g/t ------------------------------------------------------------------------ Zinc Primary 1.0% Zn 27,895 2.52 0.46 0.36 11.51 ------------------------------------------------------------------------ Copper Primary 0.5% Cu 21,177 0.36 0.96 0.12 6.74 ------------------------------------------------------------------------ Total Contained Metal in Indicated Mineral Resources at Emba Derho (only includes drilling completed prior to August 2007) ------------------------------------------------------------------------ Million Million Thousand Million Cut-off Million lbs lbs Oz Oz Zone grade tonnes Zn Cu Au Ag ------------------------------------------------------------------------ Zinc Primary 1.0% Zn 27,895 1,552.2 284.7 323.9 10.3 ------------------------------------------------------------------------ Copper Primary 0.5% Cu 21,177 170.4 450.4 78.6 4.6 ------------------------------------------------------------------------ 49,072 1,772.6 735.1 402.5 14.9 ------------------------------------------------------------------------
The study will focus on the large deposit at Emba Derho, but will also consider potential synergies that may allow the extraction of the nearby resources at Adi Nefas and Gupo Gold, located 6 km and 7 km away, respectively. Adi Nefas is a high grade VMS deposit with a January 21, 2008 NI43-101 compliant Indicated resource of 2.73 million tonnes at 8.38% zinc, 1.39% copper, 2.85 g/t gold, and 99.30 g/t silver. Gupo Gold has a September 15, 2003 NI43-101 compliant Inferred resource of 1,965,000 tonnes grading 2.99 g/t gold totaling 189,000 ounces gold. Both deposits are open for expansion laterally and at depth.
Wardrop is a Canadian company with 17 locations worldwide and has been active in the mining industry for over 40 years specializing in taking development projects forward from grassroots exploration, to pre-feasibility, feasibility, detailed engineering, procurement, construction management and ultimately, operations.
About Sunridge Gold
Sunridge Gold Corp. is a mineral exploration company focused on the acquisition, exploration, discovery and development of precious and base metal projects. The Company has 62.2 million common shares outstanding, $12.5 million in cash 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 Don Halliday or Greg Davis at the numbers listed below.
Note: The Qualified Person responsible for the release of this information is Michael Hopley, President and Chief Executive Officer of Sunridge Gold Corp.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
Contacts: Sunridge Gold Corp. Don Halliday Executive Vice President Direct: (604) 899-1505 Email: odealmeida@sunridgegold.com Sunridge Gold Corp. Greg Davis VP Business Development Direct: (604) 688-1263 Email: greg@sunridgegold.com Website: www.sunridgegold.com
SOURCE: Sunridge Gold Corp.
Source: MARKET WIRE
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