SUNRIDGEGOLD (CVE:SGC) (OTCQX:SGCNF) after starting field work in 2014 is advancing its joint venture Asmara project in Eritrea, expecting to acquire a mining license for the property, eyeing mining operations to start in the fourth quarter of this year.
SUNRIDGE Gold (SGC-V, SGCNF-OTCQX) is a successful explorer orphaned by the market but that could soon change. The company is working in Eritrea. Sunridge made several discoveries on its Asmara project and has advanced them to feasibility level.
The feasibility numbers look great. Asmara has a Net Present Value of US$692 million pre-tax (US $428 million post-tax) and an IRR of 34% pre-tax (27% post-tax) using a 10% discount rate. Sunridge owns a 60% interest in the project. That equates to a post-tax NPV of US$257 million attributable to SGC shareholders against a current market valuation of US$25 million. Continue reading Sunridge Gold’s Milestone Could Completely Re-rate the Stock→
Sunridge Gold (CVE:SGC) Wednesday announced a new independent resource estimate for the Adi Nefas zinc-gold-copper volcanogenic-massive-sulphide (VMS) deposit at its 100 percent-owned Asmara project in Eritrea.
The company said that indicated resources in the primary zone are 1.8 million tonnes averaging 10.05% zinc, 3.31 grams per tonne (g/t) gold, 1.78% copper and 115 g/t silver.
Sunridge Gold Corp. (TSX VENTURE:SGC) is pleased to provide an update on the current drilling program being conducted at the Asmara Project, Eritrea. Two diamond drills have recently completed the first 35 diamond drill holes as part of definition drilling at the high-grade copper-gold-zinc Debarwa VMS (volcanogenic massive sulphide) deposit. Most holes drilled so far have intersected strong VMS-style mineralization from the copper-enriched supergene zone as well as the primary copper and zinc zones. It is expected that assays from this drilling will be received by Sunridge in early February. Continue reading Sunridge Gold Intercepts Strong VMS Mineralization at the Asmara Project, Eritrea→