We have not seen such grades for a while and think that Sunridge Gold SGC.v has finally get its footing after the recent collapse in Juniors. They manage to attract Antofagasta and now can advance their projects more rapidly, this kind of grades will bring attention. Peter Grandich was pushing the company on PR side from as low as 0.2CAD this April with his options priced at 0.15CAD, timing was right: just before Copper picked up and Antofagasta stepped in. He managed to crash share price recently just before this news were announced with a legitimate concern about security in Eritrea in his email blast. Cynical people could think that it is not a news at all, but we will not go there. Somebody liked the news and loaded up, we will monitor the development. For us it is "Big IF in action again" - What if the size of the deposit and its grade will overcome security concerns for the Eritrea and Africa will be on a radar screens again? Nevsun Resources NSU.to ongoing development will generate the news and keep investors alert to the area.
We were not writing about Gold Juniors for a while and will address the Big Picture in Gold later, nothing have changed for us. We are going to have bumps like this Friday after parabolic rise. Everybody is writing about Gold and Majors now and we save our time and energy moving into the new Bull markets at their very beginning. Gold will preserve the wealth and gold Juniors will be next year investment theme in gold again. This pull back will allow to accumulate names you were waiting for and rotate out of majors. We have been rotating out of Junior "Majors" recently known to everybody and accumulating new ideas. We are on the same page with Rob McEwen and following him: The next big play in gold will be in Juniors.
Press Release
Source: Sunridge Gold Corp.
On 8:00 am EST, Wednesday December 2, 2009
Companies:
Sunridge Gold Corp. (Tier2)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/02/09) - Sunridge Gold Corp. (TSX-V:SGC - News) is pleased to announce assay results for the first four diamond drill holes from the 2009 drill program at the 100% owned Debarwa high-grade copper-gold-zinc volcanogenic massive sulphide (VMS) deposit in Eritrea. To date, thirty-five holes have been completed with the objective of expanding the supergene and primary zones. Further assays will be released as available.
DRILL HIGHLIGHTS:
DEBD-092: 36.75 metres grading 4.82% copper and 1.12 g/t gold, including 15.67 metres grading 10.21% copper and 2.01 g/t gold
DEBD-093: 24.00 metres grading 1.13% copper
DEBD-094: 26.15 metres grading 3.77% copper including 14.15 metres grading 6.26% copper
Holes DEBD-092 and 095 were drilled into the main copper supergene zone at Debarwa to further define this zone and to get fresh samples for further metallurgical testing. Results of DEBD-092 are very encouraging because the high grade copper supergene intercept in this hole is significantly wider than predicted. In addition, drill hole DEBD-095 extended the high grade supergene copper zone about 20 metres further down-dip.
Drill holes DEBD-093 and DEBD-094 were drilled to define and extend the high-grade copper mineralization down-dip in the Debarwa South and successfully intercepted the high-grade zone. The Debarwa south zone is located approximately 400 metres south of the main Debarwa zone. DEBD-092 and 094 both indicate potential to increase resources and grades at the Debarwa VMS deposit (see attached map: http://media3.marketwire.com/docs/sgc121.pdf).
The objective of the drill program at Debarwa is to expand the existing resources by testing nearby geophysical anomalies as well as attempting to extend the high-grade copper-gold supergene zone to the south and to extend the copper-zinc primary zone to depth. In addition, fresh samples for metallurgical testwork were recovered.
In the existing resource at Debarwa the copper supergene zone has an average grade of 5.36% copper using a 1% copper cut-off, and is estimated to contain 158 million pounds of copper in the Indicated category. The primary zone at Debarwa has not had significant delineation drilling in previous programs and is open for expansion at depth and along strike. The primary zone has an average grade of 2.53% copper with 3.23% zinc in the Indicated category using a 1% copper cut-off (see the resource statement below).
Michael J. Hopley is the Qualified Person for Sunridge and is the person responsible for preparation of the technical information contained in this news release. Mr. Hopley is President and Chief Executive Officer of Sunridge.
ABOUT SUNRIDGE:
Sunridge Gold Corp. 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. On October 2, 2009, Sunridge announced the signing of a definitive exploration and funding agreement with Antofagasta Minerals S.A. to form a strategic partnership whereby Antofagasta will fund US$10,000,000 of exploration work over a five year period on the "Exploration Areas" of the Asmara project to earn up to a 75% interest in these areas and also invested US$5,000,000 in a non-brokered private placement.
Sunridge has approximately 76 million shares outstanding and $8.3 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 http://us.lrd.yahoo.com/_ylt=AgBUzAh7Qv6Db9mNL99rhpmtcq9_;_ylu=X3oDMTE2aGRwcmY3BHBvcwMyBHNlYwNuZXdzQXJ0Qm9keQRzbGsDd3d3c3VucmlkZ2Vn/SIG=111j5di32/**http%3A//www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
In the existing resource at Debarwa the copper supergene zone has an average grade of 5.36% copper using a 1% copper cut-off, and is estimated to contain 158 million pounds of copper in the Indicated category. The primary zone at Debarwa has not had significant delineation drilling in previous programs and is open for expansion at depth and along strike. The primary zone has an average grade of 2.53% copper with 3.23% zinc in the Indicated category using a 1% copper cut-off (see the resource statement below).
Michael J. Hopley is the Qualified Person for Sunridge and is the person responsible for preparation of the technical information contained in this news release. Mr. Hopley is President and Chief Executive Officer of Sunridge.
ABOUT SUNRIDGE:
Sunridge Gold Corp. 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. On October 2, 2009, Sunridge announced the signing of a definitive exploration and funding agreement with Antofagasta Minerals S.A. to form a strategic partnership whereby Antofagasta will fund US$10,000,000 of exploration work over a five year period on the "Exploration Areas" of the Asmara project to earn up to a 75% interest in these areas and also invested US$5,000,000 in a non-brokered private placement.
Sunridge has approximately 76 million shares outstanding and $8.3 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 http://us.lrd.yahoo.com/_ylt=AgBUzAh7Qv6Db9mNL99rhpmtcq9_;_ylu=X3oDMTE2aGRwcmY3BHBvcwMyBHNlYwNuZXdzQXJ0Qm9keQRzbGsDd3d3c3VucmlkZ2Vn/SIG=111j5di32/**http%3A//www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"
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