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VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2010) - Sunridge Gold Corp. (TSX VENTURE:SGC) ("Sunridge") is pleased to report results from re-assays of drill core from four diamond drill holes conducted by a previous operator at the Adi Rassi copper-gold prospect within the Asmara Project in Eritrea. The holes were drilled by Golden Star Resources in 1996 at Adi Rassi but only short select intervals of the core had previously been sampled and assayed. Adi Rassi is located within the "Exploration Areas" and is part of the joint-venture exploration funding agreement with Antofagasta Minerals S.A. ("Antofagasta").
Highlights from the re-assayed drill core from Adi Rassi include:
- 20.0m (from 116.0m to 136.0m) of 0.09 g/t gold and 0.90% copper in ARBH-1 and 8.0m (from 160.0 to 168.0m) of 0.15 g/t gold and 1.02% copper
- 24.0m (from 90.0m to 114.0m) of 1.43 g/t gold and 1.34% copper in ARBH-2 including 14.0m (from 100.0m to 114.0m) of 2.39 g/t gold and 1.86% copper
- 52.0m (from 86.0m to 138.0m) of 0.97 g/t gold and 0.62% copper in ARBH-3 including 8.0m (from 114.0 to 122.0m) of 2.97 g/t gold and 0.85% copper
- 14.0m (from 102m to 116.0m) of 0.13 g/t gold and 1.06% copper in ARBH-4 and 2.0m (from 186.0m to 188.0m) of 0.52 g/t gold and 2.03% copper
Results are expected at the end of July from the recently completed drill program by the Sunridge/Antofagasta joint-venture at Adi Rassi (news release dated May 12, 2010) which consisted of 4 holes totaling 1,243 metres of diamond drilling (to see plan map please click on: [ http://media3.marketwire.com/docs/sgc76.pdf ]).
Based on recent detailed geological mapping and sampling Adi Rassi is now considered to be a potentially large and continuous zone containing significant copper and gold mineralization. Consequently the Antofagasta/Sunridge joint-venture has now completed a geological mapping and sampling program of Adi Rassi and the results show that alteration associated with copper mineralization can be seen at surface in a zone that measures about 80m wide along a strike length of approximately 500m. This mineralized zone is associated with a major shear zone that trends northeast for over 3km.
During the 1930's the Italians mined Adi Rassi by excavating 10 to 20m deep pits along the shear zone to mine oxide copper, most of which was focused in the mineralized South Hill zone.
The Adi Rassi copper/gold prospect is located about 8km southeast of Sunridge's 100% owned Debarwa high-grade copper/gold VMS deposit. The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5 million in cash. Sunridge 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:
- A Quality Assurance/Quality Control program was part of the sampling program on the Adi Rassi copper-gold prospect. 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 sampling.
- Samples were prepared at African Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a NATA registered laboratory) in Perth, Western Australia.
- The results of the Adi Rassi copper-gold prospect sampling program have been reviewed by Michael J. Hopley the Qualified Person for Sunridge. 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.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include resource estimates. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; and other factors identified in the Company's filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.