Michael Hopley, Chief executive of Sunridge Gold Corp (CVE:SGC), says he is delighted the firm’s partner has secured three key mining licences in Eritrea for its Asmara project. Asmara Mining (AMSC), a joint venture 60% owned by the Canadian group, has been awarded licences encompassing four advanced deposits – namely Emba Derho, Adi Nefas, Gupo Gold and Debarwa.
These areas were all incorporated into the feasibility study for Asmara, a proposed copper-zinc-gold mining operation.
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ALSO READ : Eritrea Awards Three Mining Licenses to Sunridge Gold’s Asmara Project
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About Sunridge Gold:
Sunridge Gold Corp. (SGC-TSX-V) is an exploration and development company that completed a positive feasibility study for the high grade Debarwa copper, gold and zinc deposit on May 14, 2012 and a positive pre-feasibility study on all four deposits of the Asmara Project, Emba Derho, Adi Nefas, Debarwa and Gupo Gold on May 2, 2012 showing a Base Case NPV of $555 million and IRR of 27% (10% discount rate).
| Market: | TSX-V |
| EPIC: | SGC |
| Market Cap: | C$37.79M |
| Latest Price: | C$0.18 (2.86% Ascending) |
| 52-week H/L: | C$0.21 / C$0.13 |
| Sector: | General Mining - Gold |
