Sunridge Gold Files Emba Derho Technical Report
Sunridge Gold Corp. (TSX VENTURE: SGC) (the “Company”) has filed the Technical Report supporting the updated Emba Derho mineral resources that were announced on September 17, 2008. This announcement concerned resources for only the Primary zone at Emba Derho. The Technical Report titled “Emba Derho Project, Eritrea, Mineral Resource Estimate” prepared by Wardrop Engineering Inc. (“Wardrop”) an independent and internationally operating geological and mining consultancy firm based in the U.K. also reports the estimated gold resources contained in the uppermost oxide zone. The resource estimates as of September 17th and October 30th, 2008 were carried out by Wardrop’s Paul Gribble, C.Eng, FIMMM an independent Qualified Person as defined by NI 43-101.
Emba Derho is a copper-zinc-gold volcanogenic massive sulphide (VMS) deposit located on the Company’s 100% owned Asmara Project in Eritrea. The updated resource estimate reported on September 17 2008 resulted in a 35% increase in contained copper, a 20% increase in contained gold and an 11% increase in contained zinc content all within the Indicated Resource category within the massive sulphide zone compared to the previous estimate. The updated total Indicated Resources in the primary copper and zinc zones are now estimated to be 58.97 million tonnes containing 990 million pounds of copper, 1,900 million pounds of zinc, 485 thousand ounces of gold and 19.5 million ounces of silver. In addition the oxide zone contains an additional 94,000 ounces of gold in the Indicated category.
Wardrop has also been retained to complete a Preliminary Assessment Study (“PAS”) for the Emba Derho deposit. This study is ongoing and should be completed before year end.
As of September 30, 2008 the Company had $7,500,000 in its treasury. The Company has recently reduced expenditures significantly and does not plan to continue future expenditures at the same aggressive rate as it has for the first nine months of calendar 2008.
The Emba Derho copper-zinc-gold deposit is located approximately 12 kilometres northwest of the Eritrean capital city of Asmara and has excellent infrastructure including paved roads, power, water, an international airport and a sea port only 120 kilometres away by paved road or railway.
Summary of Indicated Mineral Resources at Emba Derho ————————————————————————– Cut-off Million Copper Zinc Gold Silver Zone grade Tonnes % % g/t g/t ————————————————————————– Gold Oxide 0.2 g/t Au 3.51 0.06 0.04 0.84 5.14 ————————————————————————– Copper-rich Primary 0.5% Cu 38.425 1.02 0.99 0.18 9.31 ————————————————————————– Zinc-rich Primary 1.0% Zn 20.545 0.28 2.35 0.39 12.13 ————————————————————————– Total Contained Metal in Indicated Mineral Resources at Emba Derho ————————————————————————– Million Million Thousand Million Cut-off Million pounds pounds ounces ounces Zone grade Tonnes Cu Zn Au Ag ————————————————————————– Gold Oxide 0.2 g/t Au 3.506 5 3 94.4 0.58 ————————————————————————– Copper-rich Primary 0.5% Cu 38.425 862 835 228 11.5 ————————————————————————– Zinc-rich Primary 1.0% Zn 20.545 127 1,064 258 8.0 ————————————————————————– 62.476 993 1,902 580 20.1 ————————————————————————– Note: Contained metal estimates are rounded and remain subject to factors such as mining dilution and process recovery losses.
In addition to the Indicated Resources the estimated Inferred Resource at Emba Derho contributes an additional 41 million pounds of copper, 63 million pounds of zinc, 13,000 ounces of gold, and 700,000 ounces of silver.
Summary of Inferred Mineral Resources at Emba Derho ————————————————————————– Cut-off Million Copper Zinc Gold Silver Zone grade Tonnes % % g/t g/t ————————————————————————– Gold Oxide 0.2 g/t Au 0.05 0.04 0.03 1.19 4.37 ————————————————————————– Copper-rich Primary 0.5% Cu 1.075 1.7 2.3 0.3 18 ————————————————————————– Zinc-rich Primary 1.0% Zn 0.156 0.3 2.6 0.3 16 ————————————————————————– Total Contained Metal in Inferred Mineral Resources at Emba Derho ————————————————————————– Million Million Thousand Million Cut-off Million pounds pounds ounces ounces Zone grade Tonnes Cu Zn Au Ag ————————————————————————– Gold Oxide 0.2 g/t Au 0.05 0.1 0.1 1.9 0.01 ————————————————————————– Copper-rich Primary 0.5% Cu 1.075 40 55 9.8 0.6 ————————————————————————– Zinc-rich Primary 1.0% Zn 0.156 1 9 1.3 0.1 ————————————————————————– 1.28 41 63 13 0.7 ————————————————————————– Note: Contained metal estimates are rounded and remain subject to factors such as mining dilution and process recovery losses.
Emba Derho Resource Estimate Methodology
The Emba Derho deposit has three distinct zones of mineralization, a surface oxide gold zone from which most base metals have been leached and a small copper-rich supergene zone which in turn is underlain by the primary sulphide zone. The primary sulphide zone is divided into a zinc-rich mineralization (zinc-rich primary sulphide) zone which is underlain by a copper-rich primary sulphide zone (copper-rich primary sulphide). For the purpose of this resource estimate the minor supergene zone tonnage is included within the primary sulphide zone although it was modelled and estimated separately. Because of the mineral zonation the resources have been reported according to the following cut-off scenarios:
– 0.2 g/t gold cut-off for the gold-rich oxide zone;
– 1.0% zinc cut-off grade for the zinc-rich primary zone, and
– 0.5% copper cut-off grade for the copper-rich zone.
The Emba Derho deposit is a copper/zinc/gold/silver volcanogenic massive-sulphide (VMS) deposit that has been defined by Sunridge in 252 drill holes over a strike length of 1,200 metres, a width of approximately 100 metres to 600 metres and down to a depth of about 400 metres from surface. The resource estimate was completed by Wardrop using industry standard methods in accordance with CIM and NI 43-101 requirements, utilizing Gemcom Surpac modeling software. The estimate was based upon data from 252 diamond drill holes (total of approximately 62,000 metres) and a geological model supplied to Wardrop by Sunridge geological staff. The geological model created by Sunridge staff used 40 metre cross-section spacings. Ordinary kriging was used to estimate grades into blocks with dimensions of 15 m (easting), 15 m (northing) and 5 m (RL). The search ellipsoid dimensions and directions chosen for the grade interpolation process were metal specific.
Specific gravities used in the model were based on 827 specific gravity measurements made on drill core. Block density values were assigned in the supergene and primary sulphide zone using a regression formula applied to Cu, Pb, Zn and Fe block grades.
It is anticipated that the potential mining of the mineralized zone would be by open-pit methods.
The foregoing Indicated and Inferred resource estimates do not include an additional drill holes completed since this resource estimate was prepared. Some of these drill holes tested the underlying primary sulphide zone and might result in further increases in tonnages and grade.
The Company has three other deposits on its 100% owned Asmara Project in Eritrea which are the Debarwa copper/zinc/gold VMS deposit, the Adi Nefas zinc/gold VMS deposit and the Gupo Gold deposit. The Adi Nefas and Gupo Gold deposits are located less than 6 kilometres from Emba Derho deposit.
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 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 Don Halliday or Greg Davis at the numbers listed below. NOTES:
1. The Emba Derho deposit is layered into distinct metal zones as is the case in most of these types of VMS deposits therefore the upper oxide gold zone, the primary zinc-rich zone and copper-rich zone are reported separately. The copper-rich primary sulphide zone is defined as those blocks that have a grade of 0.5% copper or greater; the zinc-rich primary sulphide zone is defined as those blocks that have an average grade of 1.0% zinc or greater, but less than 0.5% Cu. There is also an “overlap” copper/zinc zone where blocks meet both critirea. In the previous resource estimate by MSA Geoservices (December 2007) the overlap zone was included with the zinc-rich primary sulphide zone. In this updated resource estimate it was decided to include the overlap zone in the copper-rich sulphide zone.
2. A Quality Assurance/Quality Control program was part of the drilling program on the Emba Derho deposits. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples produced by the drilling. The database archive used by Wardrop in the estimate of the resources at Emba Derho was reviewed and verified by Paul Gribble, a Qualified Person as defined by NI 43-101.
3. A description of the geology, sampling procedures, and the Company’s laboratory Quality Assurance / Quality Control procedures is described in the filed NI 43-101 Technical Report described in this release.
4. Samples from the drilling were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia and also at ALS Chemex Laboratories in Romania.
5. The results of the Wardrop resource estimate have been reviewed by Sunridge technical staff including Michael J. Hopley the Qualified Person for Sunridge. The Company believes that the Wardrop resource estimate for Emba Derho was conducted in a professional and competent manner. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Sunridge.
6. Inferred Resources are resources that have not been defined in sufficient detail to be characterized as Measured or Indicated Resources. Mineral resources have not had economic considerations applied to them and are therefore not characterized as Mineral Reserves.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
Contacts: Sunridge Gold Corp. Don Halliday Executive Vice President (604) 899-1505 (direct) Email: firstname.lastname@example.org Sunridge Gold Corp. Greg Davis VP Business Development (604) 688-1263 (direct) Email: email@example.com Website: www.sunridgegold.com
SOURCE: Sunridge Gold Corp.