Vancouver-based Sunridge Gold (CVE:SGC) said Monday it has received encouraging gold drill results from its Gupo deposit, part of the Asmara project in Eritrea.
The results from the first 27 reverse circulation drill holes are part of the 51 hole, 4,500 metre program at the Gupo target, designed to expand and upgrade inferred resources to the measured and indicated categories.
Gold mineralization at Gupo now extends over a strike length of 1.6 kilometers, with current resources containing 189,000 ounces of gold, at an average grade of 2.99 grams per tonne. The resource is at surface, and extends down to 80 metres vertical depth, remaining open.
The company said the first 27 holes extend over only a 600 metre strike length in the northern part of the deposit.
Highlights of the results include 9 metres averaging 9.26 g/t gold in hole GG-030-R; 47 metres averaging 2.13 g/t gold in hole GG-036-R; 29 metres averaging 2.05 g/t gold in hole GG-039-R; and 64 metres averaging 1.25 g/t gold in hole GG-047-R.
"We are very pleased with the gold results in the first 27 holes," said president and CEO Michael Hopley.
"The results appear to support the previous resources and we hope that when we have received all the results the resource at Gupo will be both extended and upgraded and become part of proposed early mining operations at Asmara North."
The drilling program at Gupo is part of the ongoing prefeasibility study on the Asmara North Deposits, which aside from Gupo, includes the Emba Derho and Adi Nefas targets.
Sunridge, with approximately $20 million in cash, has base and precious metal properties in Eritrea and Madagascar.