Sunridge Discovers Fifth Mineral Deposit – The Adi Rassi Copper-Gold Deposit

Adi Rassi is now the fifth mineral resource defined by Sunridge on the Asmara Project that comprises others previously well defined four deposits: Adi Nefas, Emba Derho, Gupo and Debarwa deposits.

Sunridge Gold, the next Nevsun, will soon reach to its final stage – production

By Sunridge Gold,

Sunridge Gold Corp. (TSX.V:SGC; OTCQX:SGCNF) reports that it has completed an initial independent NI43-101 and JORC compliant mineral resource estimate for the Adi Rassi Copper-Gold deposit located on the Asmara project, Eritrea.

Adi Rassi is the fifth mineral resource defined by Sunridge on the Asmara Project. On May 2, 2012, Sunridge announced the results of a prefeasibility study (“PFS”) on the other four deposits (Adi Nefas, Emba Derho, Gupo and Debarwa) that concluded that the optimum economic scenario is to construct a single centralized processing plant near the Emba Derho deposit. A feasibility study is now underway and is scheduled for completion in April 2013.

HIGHLIGHTS:

  • Inferred Mineral Resource of 15.77 million tonnes with an average grade of 0.54% copper and 0.33 g/t gold
  • Contained metal = 189,060,000 pounds of copper and 167,000 ounces of gold
  • The resources area is open for expansion in most directions
  • Less than 10 km from Debarwa deposit and paved road access
  • Positive initial metallurgical results
  • Further expansion drilling planned in 2013

Initial results from ongoing test work by Blue Coast Research suggest that copper, gold and silver can be successfully recovered from the mineralized material at Adi Rassi by standard flotation methods, which is compatible with the recovery processes with the other deposits on the Asmara project.

Michael Hopley, President and CEO of Sunridge states that,

“The defining of a fifth deposit by Sunridge continues to show the prolific nature of the Asmara Project area. We are pleased with this initial mineral resource estimate for the Adi Rassi deposit based on just twenty-two new drill holes by Sunridge and believe that further drilling will significantly expand and upgrade the mineralization.”

“Metallurgical test work continues, but initial results show that the copper and gold can be successfully recovered by standard flotation methods compatible with the process to be used in the mine plan currently being examined in the feasibility study”.

Adi Rassi Mineral Resource Statement – David G. Thomas P.Geo., of Fladgate Exploration Consulting Corp. (“Fladgate”) Effective Date December 1, 2012

Inferred Mineral Resource
Tonnes
(‘000)
Grades
Contained Metal
Copper
(%)
Gold
(g/t)
Silver
(g/t)
Copper
(‘000 lbs)
Gold
(‘000 lbs)
Silver
(‘000 oz)
Open Pit (0.21% Cu Eq cut-off)

14,940

0.54
0.30
1.5
176,640
143
721
Underground (0.72% Cu Eq cut-off)

840

0.67
0.89
1.5
12,430
24
40
Total

15,770

0.54
0.33
1.5
189,060
167
761

ADI RASSI GEOLOGIC BACKGROUND:

The Adi Rassi mineralization is distinctly different to Sunridge’s four other deposits on the Asmara Project; three of the deposits (Emba Derho, Adi Nefas and Debarwa) are volcanogenic-massive sulphide (VMS) deposits or remobilized gold only (Gupo Gold). The mineralization at Adi Rassi is considered to be remobilized copper and gold from a distal source, possibly unidentified buried VMS mineralization.

Mineralization at Adi Rassi is associated with a major shear zone that trends northeast for over 3 kilometres and dips steeply to the west. The copper and gold mineralization is hosted in strongly foliated and distorted altered mafic volcanic tuffs. Mineralization has now been defined for over 450 metres north-northwest oriented strike length, 40 to 100 metres in width and to a vertical depth of 360 metres.

The mineralized zone dips steeply to the west and is off-set by an east-west oriented fault. The zone remains open in depth, to the north and possibly to the south; additional exploration potential exists along the 3 kilometre length of the host shear zone. A program of expansion drilling, trenching and local mapping and sampling is planned for 2013.


The Asmara Project of Sunridge Gold